Philips Senior Cost Accountant in Rancho Cordova, California


In this role, you have the opportunity to partner with a cross functional team from Operations, R&D, Procurement, Supply Chain and Quality in order to determine, manage and drive cost improvement activities related to product costing for the IGT-Device sites in Rancho Cordova and Menlo Park, CA.

This role will be critical in developing and connecting operational and financial plans to conversion costs and product costing, followed up with variance analyses and explanations of differences to plan with direct feedback and recommendations to management for near term corrective or improvement actions and the setting of new standards. This position will also play a critical role in the development, maintenance and reporting of operational KPI’s as well as will be the Business Process Expert for product costing as a part of our SAP ERP implementation project.

You are Responsible to:-

  • Manage the accounting for inventory, including transaction tracking, costing, periodic physical count, and inventory obsolescence.

  • Ensure accurate product costing, valuation and reporting of all raw material, work in process and finished goods inventory.

  • Reconcile perpetual inventory balances to the General Ledger, identifying and resolving differences.

  • Develop, implement, and maintain unit standard costs for materials, labor and overhead, including yield factors for component consumption and top level assemblies

  • Prepare or approve inventory related manual journal entries and inventory adjustments.

  • Monitor cost of sales including all manufacturing variances, and related Balance Sheet accounts.

  • Responsible for product costing and work directly with procurement, engineering, production, quality and marketing.

  • Update standard costs in the bill of materials.

  • Review, analyze and publish inventory related results pertaining to count adjustments, PPVs, slow moving, disposals, quality status and other issues.

  • Maintain inventory reserves, LCM reserve and warranty accruals.

  • Manage the labor and overhead allocation process to the bill of materials.

  • Perform detailed analysis and reconciliation of inventory and cost of sales accounts.

  • Support the monthly financial close and reporting process.

  • Participate in systems configuration and enhancements in areas of responsibility.

  • Provide data as needed for the preparation of various tax filings.

  • Create and maintain internal control documents and risk and control matrix for areas of responsibility.

  • Prepare schedules and analyses, along with supporting documentation for internal controls and/or external audits

  • Provide ad-hoc reports to cross functional departments and management as requested.

  • Identify and implement process improvements.

You are a part of

The position reports to the Operations Controller for IGT-Devices and be an integral part of the operations team in Rancho Cordova, CA. This position will also work closely with other IGT-D operational sites in Alajuela, Costa Rica and Menlo Park, CA.

To succeed in this role, you should have the following skills and experience

  • Bachelor’s Degree, Master preferred

  • Basic accounting knowledge and the willingness to learn and apply financial policies and procedures

  • Strong affinity for numbers and the ability to translate and communicate operational and financial results into relevant information as input for management and cross functional decision making

  • Ability to interact with multiple stakeholders, people from different backgrounds and knowledge levels

  • Able to work under tight deadlines and proactively manage work load and deliverables independently from direct supervision

  • Strong in Excel, comfortable with integrated systems, SAP knowledge preferred

  • 5+ years of operational, financial or cost accounting experience

In return, we offer you

We welcome you into a global, innovative, dynamic and mission driven organization that aims to better orchestrate treatment so that medical providers will have greater control over patient outcomes and deliver lower cost care. Our mission is to improve the lives of 3 billion people by 2025!

Why should you join Philips?

Working at Philips is more than a job. It’s a calling to create a healthier society through meaningful work, focused on improving 3 billion lives a year by delivering innovative solutions across the health continuum at . Our people experience a variety of unexpected moments when their lives and careers come together in meaningful ways. Learn more by watching this video .

To find out more about what it’s like working for Philips at a personal level, visit the Working at Philips page at on our career website, where you can read stories from our employee blog at . Once there, you can also learn about our recruitment process at , or find answers to some of the frequently asked questions at .

Philips is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, age, sex (including pregnancy), sexual orientation, gender identity, national origin, genetic information, creed, citizenship, disability, protected veteran or marital status.

As an equal opportunity employer, Philips is committed to a diverse workforce. In order to ensure reasonable accommodation for individuals protected by Section 503 of the Rehabilitation Act of 1973, the Vietnam Veterans' Readjustment Act of 1974, and Title I of the Americans with Disabilities Act of 1990, applicants that require accommodation in the job application process may contact 888-367-7223, option 5, for assistance.