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Cost Accountant (Entry Level)

Company: Parker-Hannifin Racor Div
Location: Irvine
Posted on: February 16, 2020

Job Description:

Parker Hannifin
Founded in 1917, Parker Hannifin Corporation is a $14.3 billion, global company. With annual sales of $14.3 billion in fiscal year 2019, Parker Hannifin is the world's leading diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of mobile, industrial and aerospace markets. The company has operations in 50 countries around the world. Parker has increased its annual dividends paid to shareholders for 63 consecutive fiscal years, among the top five longest-running dividend-increase records in the S&P 500 index. Parker's engineering expertise and broad range of core technologies uniquely positions the company to solve some of the world's greatest engineering challenges. By partnering with customers, Parker improves their productivity and profitability and seeks new ways to solve humanity's biggest challenges.

Department Marketing Statement

Parker Aerospace is a global leader in the research, design, integration, manufacture, certification, and lifetime service of flight control, hydraulic, fuel and inerting, fluid conveyance, thermal management, lubrication, and pneumatic systems and components for aerospace and other high-technology markets. The company supports the world's aircraft manufacturers, providing a century of experience and innovation for commercial and military aircraft.

Major Duties

Position Summary:

  • Applies principles of accounting to analyze diverse and complex financial information and prepares financial reports. Responsible for the accuracy, integrity, control and timeliness of financial reports, analyses, systems, and processes. This position will specialize in cost accounting functions and value stream reporting and analysis.
  • Works with all operational units, corporate/staff and select third parties in ensuring compliance with corporate policies and procedures while maintaining accounting controls.


  • Performs Cost Accounting month-end close entries and reconciliations
  • Performs inventory reporting and analysis
  • Reviews and updates product costs and ensure proper inventory valuation
  • Analyze cost of sales, cost trends, identify drivers for cost fluctuations
  • Review excess and obsolete inventory
  • Coordinate inventory cycle counting program, investigate variances, and ensure compliance with policies Value Stream Reporting and Analysis:
  • Prepare monthly Value Stream financial reports, including P&Ls and related analysis
  • Perform various Value Stream targeted cost analyses
  • Support Value Stream Organizations and Business Teams Other Responsibilities:
  • Compiles and analyzes diverse and complex account information to provide management with accounting information necessary to make business decisions.
  • Performs economic research and studies subjects such as rates of return, depreciation, working capital, investments, and financial and expense comparisons by analysis of profit and loss statements and income statements.
  • Recommends financial actions to management by analyzing accounting options.
  • Summarizes current financial status by collecting information, preparing balance sheet, profit and loss statement, and other management reports.
  • Maintains accounting controls by auditing compliance with accounting policies and procedures. Writes and recommends policies and procedures.
  • Reconciles financial discrepancies by collecting and analyzing account information.
  • Maintains financial security by following accounting policies and internal controls.
  • Answers accounting procedure questions by researching and interpreting complex accounting policies and regulations.
  • Maintains customer confidence and protects operations by keeping financial information confidential.
  • Prepares diverse and complex financial reports by collecting, analyzing, and summarizing account information and trends.
  • Recommends actions by analyzing and interpreting data and making comparative analyses.
  • Applies continuous improvement techniques and methods to internal processes and systems.
  • May lead or be assigned to a special project team.
  • Maintains professional and technical knowledge by attending educational workshops, reviewing professional publications, establishing professional networks, and/or participating in professional societies.
  • Complies with federal and state legal requirements and professional standards. Studies existing and new legislation, enforces adherence to requirements; and advises management on needed actions.
  • May provide leadership to others in accounting or within a business team. Acts as prime contact on high level projects.
  • Establishes goals and objectives required to complete projects. Trains and mentors less experienced employees.
  • Shares specialized knowledge with others. Represents company on high level projects.
  • Contributes to team effort by accomplishing related results as needed.
  • Work assignments may include cross-functional or project team responsibilities (e.g. continuous improvement).


  • Bachelor's degree (BS) in Accounting. Demonstrated ability to perform the essential functions of the job typically acquired through two or more years of related experience. Knowledge, Skills and Abilities:
  • Thorough knowledge of Generally Accepted Accounting Principles, laws, and regulations, including Cost Accounting Standards (CAS) and/or Federal Acquisition Regulations (FAR).
  • Ability to effectively assess and implement continuous improvement principles and techniques.
  • Proficient with automated accounting systems, spreadsheet applications, and internet/intranet communications.
  • Ability to read, analyze, and interpret complex financial reports.
  • Ability to prepare detailed reports, graphs, presentations, and business correspondence.
  • Ability to respond to questions from management and customers; respond to inquiries or complaints from customers, regulatory agencies, or members of the business community.
  • Ability to effectively communicate and present information to team members, team leaders, and top management.
  • Ability to define problems, collect data, establish facts, and draw valid conclusions.
  • Ability to effectively demonstrate team member competencies and participate in goal-setting, performance feedback, and self-development activities.

    Equal Employment Opportunity

    Parker is an Equal Opportunity and Affirmative Action Employer. Parker is committed to ensuring equal employment opportunities for all job applicants and employees. Employment decisions are based upon job related reasons regardless of race, ethnicity, color, religion, sex, sexual orientation, age, national origin, disability, gender identity, genetic information, veteran status, or any other status protected by law. U.S. Citizenship/Permanent Resident is required for most positions. ("Minority/Female/Disability/Veteran/VEVRAA Federal Contractor") If you would like more information about Equal Employment Opportunity as an applicant under the law, please go to and #LI-WB1 #CB

Keywords: Parker-Hannifin Racor Div, Irvine , Cost Accountant (Entry Level), Accounting, Auditing , Irvine, California

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