Cost Accountant

Magellan Aerospace is a global, integrated aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers, and defence and space agencies worldwide. At Magellan we have over 80 years of collective knowledge and experience in the aerospace industry, and believe one truth: People create value.

Employees are our greatest resource in working towards a successful future, and together we build professional relationships that thrive. We know that personal development is fundamental to the success of every individual and invest in our employees.

When you are part of Magellan, you are part of the team!

The salary range for this position is $75,000 to $85,000 annually.

Job Summary:

We are seeking an experienced and detail-oriented Cost Accountant to join our Magellan Aerospace, New York, Inc. team. The ideal candidate will have a solid background in cost accounting within the manufacturing industry, with a proven ability to manage financial data, provide detailed cost analysis, and support decision-making processes. This role requires a strong understanding of cost structures, inventory management, and financial reporting, as well as the ability to work cross-functionally with production, engineering, and management teams.

Key Responsibilities:

• Perform cost analysis on products and processes to identify areas for cost reduction, process improvement, and efficiency gains.
• Prepare monthly, quarterly, and annual cost reports, including cost of goods sold (COGS), gross margin analysis, and inventory valuation.
• Assist in preparation of Journal Entries, company Financial Statements and Month, Quarter and Year end Closing.
• Provide timely and accurate financial information to management for decision-making, budgeting, and forecasting purposes.
• Collaborate with operations, production, and engineering teams to monitor variances and explain fluctuations in costs.
• Assist in the preparation of cost for monthly forecasts and budgets.
• Analyze cost variances between Actual cost and Forecasted costs.
• Assist in inventory audits and year end physical inventory working closely with the Inventory Manager and purchasing departments to ensure proper inventory valuation.
• Prepare and participate in internal and external audits, providing supporting documentation and analysis for compliance with accounting standards and regulations.
• Monitor and analyze manufacturing labor efficiency and overhead absorption rates to ensure alignment with budgeted costs.
• Analyze variances, ad hoc requests or any other assigned tasks.
• Identify opportunities for process improvement in cost accounting practices, reporting, and systems.

Qualifications:

• Bachelor’s degree in Accounting, Finance, or a related field.
• Minimum of 1-3 years of cost accounting experience in the aerospace or manufacturing industry.
• Strong knowledge of cost accounting principles, including job order costing, process costing, and standard costing.
• Experience with ERP systems (e.g., SAP, Oracle, or similar) and advanced Excel skills.
• Familiarity with aerospace industry standards, regulations, and practices, including AS9100 which is desirable but not necessary.
• Excellent analytical, problem-solving, and communication skills.
• Ability to work collaboratively in a fast-paced environment and meet tight deadlines.
• Strong attention to detail with a focus on accuracy and process improvement.

Confidentiality

Magellan Aerospace respects the privacy and confidentiality of personal information provided by candidates and shall not disclose to any external parties unless legislated.

Magellan Aerospace is committed to an inclusive working environment and equal opportunities for all. We welcome all applications without regard to social and cultural background, age, gender, disability, sexual orientation, national origin or religious belief, status as a protected veteran, or any other characteristic protected by applicable federal, state, or local law.

If you require an accommodation during the recruitment/interview process (including alternate formats of materials, or accessible meeting rooms or other accommodation), please let your Human Resources point of contact know and we will work with you, to the best of our ability to meet your needs.