OPTIPRO SYSTEMS JOB DESCRIPTION COST ACCOUNTANT POSITION SUMMARY To implement and maintain the accounting and financial reporting systems necessary to provide management with the information required to effectively monitor the Company s performance and to report that performance against approved budgets. Insure the accuracy and adequacy of all accounting systems including revenues, costs, accounts payable, accounts receivable, payroll and general ledger systems. To advise and assist management and business unit managers with the development and implementation of the annual budget. Perform a monthly close to provide timely reporting and accountability for operational and financial results. ESSENTIAL DUTIES AND RESPONSIBILITIES In conjunction with the CFO, develop the goals, budgets and objectives of the OptiPro Systems Business Units and Cost Accounting function and manage the implementation of those plans. Develop and/or implement the planning tools required to properly and efficiently manage the flow of data required to meet the company s accounting and financial reporting goals developed above. These include: budget and reporting systems; financial analysis tools and reports; account analysis systems; productivity reporting and tracking; and overhead and spending analysis covering direct and indirect labor, overtime and expense controls, estimates to complete, productivity rates, project management accountability reporting and subcontractor performance reporting. Create work orders in the system for projects based on approved requests for all effort to be performed by direct labor personnel; indirect labor personnel working on all internal projects and for all employees who are not actively charging their time to customer projects or internal projects. Ensure that budgets are established for all customer and internal projects. Monitor actual costs on all projects on a monthly basis and report variances against budgets. Meet with Project Managers for customer projects and provide the Project Status Report for the current month and project to date. Review their Estimates to Complete and evaluate the current and projected impact on budgeted gross margin. Meet with Department Managers for each internal project monthly to review the status of accumulated costs for the current month and project to date. Report on the status of actual costs compared to the budgets. Page 1
Coordinate and implement, under the direction of the CFO, the instructions and planning worksheets for preparation of the annual budget. Provide analysis and support to business unit managers, department heads and operations to develop staffing schedules, cost estimates and expense budgets, capital equipment budgets and overhead rate budgets for the coming fiscal year. This planning effort begins in September to finalize the annual budget by the beginning of the budget year. Provide support to operations management in terms of analysis of financial performance and the translation or correlation of those results to operating performance. Track actual overhead absorption, compare to budget and identify the reasons for variances. Recommend adjustments to budgeted overhead rates when appropriate. Insure that internal controls are adequate to safeguard assets and proprietary information and that financial transactions are properly documented. Assist with the preparation of monthly and annual financial statements and supporting schedules accurately and in a timely manner. Review, analyze and report on an exception basis all significant variances from budget. Identify and disclose significant trends in revenues, gross margins, costs of sales, expenses and net income and recommend appropriate action. Perform the valuation of the physical inventories and reconciliation of the physical inventories to the accounting records. Working with operations personnel, identify areas with weak controls, investigate the adjustments required and recommend corrective actions. Monitor actual departmental costs for the business units against budgets and investigate variances. Insure that programs and expenses are utilized effectively. Maintain a high level of communications between the Cost Accounting function and all operating departments to ensure that all information required to properly respond to information needs and control staffing costs and operating expenses is available and reviewed on a regular basis. Communicate operating issues, plans, goals and results to the CFO. JOB IMPACT The Cost Accountant s position impacts the day to day operations and the Company's long-term growth and profitability. The Cost Accountant is integral to the successful execution of the company s project management, financial reporting, expense control, revenue and profit planning process and the integration of other functional areas within the organization to achieve those same goals. This position has a significant impact on the organization s ability to establish goals, plans, measure results, maximize revenues and achieve profit goals. JOB AUTHORITY The Cost Accountant has authority to fulfill the duties and responsibilities outlined above and any other authority that may be granted by the CFO. QUALIFICATIONS Page 2
EDUCATION BS/BA Degree in Accounting or Finance with training in Cost Accounting. EXPERIENCE The ideal candidate will have two to five years years experience in finance or accounting preferably within the high technology development and production environment. A record of achievement in cost accounting and financial reporting with increasing levels of responsibility. MATHEMATICAL SKILLS Ability to work with mathematical concepts and conversions Ability to work with statistical data and apply concepts such as whole numbers and fractions, ratios and proportions and work with measurement devices Ability to work with and convert units of operational measurement and convert those units to dollars Ability to identify and analyze trends Ability to develop overhead rates, apply and project overhead rates and monitor the impact of both spending and volume on overhead rates. OTHER SKILLS AND ABILITIES Technical experience in financial reporting and accounting in a high-tech production environment Production industry knowledge, including understanding of all cost centers in an operation including product costing, overhead absorption and pricing practices The ability to train, motivate and develop a highly effective cost accounting department. A commitment to success Significant experience with management planning and goal setting High level of ability with financial computer applications, database, spreadsheets and other analysis tools Excellent organizational and communication skills Ability to deal tactfully with human issues in both subordinates, peers and particularly customers Ability to create and maintain cooperative team building relationships within the organization Demonstrated ability to tactfully handle difficult situations Consistently demonstrate the ability to recognize and respond to changing priorities Ability to identify strengths and weaknesses in others and shift responsibilities to take advantage of strengths and develop weaknesses Ability to analyze trends and respond to those trends Ability to meet deadlines and work under pressure Page 3
REASONING ABILITY: Ability to handle multiple and changing priorities concurrently Ability to work with practical problems and deal with a variety of variables Ability to interpret instructions furnished in written, oral, diagram or schedule form Ability to direct the emphasis and direction of others and groups in an orderly fashion Ability to identify critical issues and recommend appropriate solutions PHYSICAL DEMANDS The physical demands described here are representative of those that must be met by an employee to successfully perform the functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee sits, stands, uses hands, arms and fingers to perform routine tasks. Normal vision and hearing is required. WORK ENVIRONMENT The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While most of the Cost Accountant s time is spent in a normal office setting, some is spent in the production department where the noise level can be loud. Working in the production area entails possible exposure to airborne particles, possible electrical shock, chemicals and fumes and working with machinery with several moving parts. MEASUREMENT The Cost Accountant will be evaluated to the following criteria: 1. Timeliness and accuracy in preparation of the monthly Project Status Reports and projected impact on profitability. 2. Ability to successfully develop and implement the annual budgeting process. 3. Ability to track and report on variances from budget on a monthly basis. 4. Timeliness and accuracy in the preparation of cost and spending analysis and reconciliations for all direct costs. 5. Timeliness and accuracy in the valuation of the annual and periodic physical inventories Page 4
SUMMARY The Cost Accountant can assure that OptiPro Systems meets it revenue, gross margin and profit goals by effectively and efficiently supervising the project accounting function and assisting other managers through the process of establishing and controlling their project budgets, tracking actual expenses against budgets and reporting controllable variances to management. Providing timely and accurate information and analysis to the CFO, Project and Department Managers, the Cost Accountant will assure that OptiPro Systems is able to make realistic strategic and business decisions on a reasonable and logical basis. Supervisor s Signature Date Page 5