Job Description
Overview
The Cost Accountant ensures the integrity of federal grant expenditures by evaluating cost allocation methodologies, validating financial data, and ensuring compliance with 2 CFR Part 200 and client requirements. This role supports sound financial stewardship across hospitals, universities, tribal governments, and non‑profits.
Key Responsibilities
- Review and analyze Cost Allocation Plans (CAPs) and Indirect Cost Rate Proposals (IDCRPs).
- Validate that costs are:
- Allowable and reasonable
- Properly documented
- Compliant with federal grant requirements
- Reconcile cost data with financial statements, budgets, and supporting records.
- Identify and exclude unallowable costs from calculations.
- Assist in evaluating cost distribution methods across multiple programs.
- Support preparation of financial reports, findings, and recommendations.
- Maintain accurate spreadsheets, tracking tools, and financial records.
- Collaborate with internal teams and external stakeholders (including grant recipients).
- Familiarity with federal cost principles, internal controls, and risk assessment.
- Experience with federal audits (Single Audit, OIG, GAO).
- Provide basic guidance on cost allocation and grant compliance.
- Federal Government experience is mandatory.
Education
- Bachelor’s degree in Accounting, Finance, or related field required.
- CPA not required.
Qualifications & Required Experience
- 7+ years of experience in accounting, finance, or grants management.
- Hands-on experience with direct and indirect cost allocation.
- Experience working with or supporting grant requests from:
- Hospitals
- Universities
- Tribal entities
- Non-profit organizations
- Understanding of federal grant regulations (2 CFR Part 200)
- Knowledge of GAAP and basic cost accounting principles.
- Strong Excel, this includes pivot tables, lookups, data validation, and error‑checking. and data analysis skills.
- Experience with financial systems (UFMS, PMS, GrantSolutions, or similar).
- Good attention to detail and organizational skills.
- Understanding of grant requests from hospitals, universities, tribal entities, and non-pofits.
- Direct and indirect cost allocation.
- Federal Government experience is mandatory.