Since helping to literally create this industry, GenCanna remains the single-source, full-service provider for pure, premium hemp-derived CBD and other best-in-class cannabinoids. Located just outside of Lexington, Kentucky, GenCanna offers a broad and innovative variety of custom formulations, value-added products, and bulk ingredients to meet diverse customer needs, including industry-leading flavored oil drops, water-soluble liquids and powders, and high-quality distillates.
The Senior Cost Accountant (“SCA”) is responsible for the recording and reporting of the company’s inventory, costing, and production data at the direction of the Controller and/or the CEO. The SCA serves as a liaison between the accounting, production, sales and supply chain teams, ensuring principles of cost accounting are applied to enable a thorough understanding of product costs, productions costs and pricing decisions to maximize gross margin realization.
The SCA reports to GenCanna’s Business Analyst.
Position Specific Responsibilities
- Analyze actual production costs against standards, investigate significant variances, and propose corrective action to minimize future variances
- Collaborate with supply chain and production personnel to develop standard costs for all new inventory items
- Work with operations team to track damaged and expired inventory and prepare analysis of the obsolete inventory reserve account
- Work with multiple departments to develop comprehensive costing models for new products to provide the sales department with the data it needs to recommend pricing to achieve targeted gross margin percentages
- Maintain costing catalogs for generic products and samples
- Compile and develop information to be used in the preparation of the operating budget, including costs related to direct materials, departmental direct labor, and manufacturing overhead by manufacturing process and inventory item
- Compile and maintain all period-end inventory records, assessing records for accuracy by comparing against production logs
- Develop and maintain standard costs of all inventory items including raw materials, work-in-process, and finished goods
- Develop and maintain operational financial reporting including gross margin analyses by product type, volume/price/mix, and production variance analyses
- Develop, maintain, and improve processes and controls surrounding the recording and reporting of inventory information
- Establish, maintain, and coordinate all accounting aspects of the periodic inventory count process
- Perform lower of cost or net realizable value assessments at each period-end in accordance with Generally Accepted Accounting Principles (“GAAP”), processing necessary adjustments to accounting data based on results
- Support period-end financial reporting processes, (i) by preparing all entries related to cost accounting and (ii) by assisting the Controller as requested
Prepare various financial analysis related to historical manufacturing costs, inventory, and expense information, and new and proposed product cost information for users who require this as part of their decision-making processes