University of Michigan · 1 month ago
Cost Accountant Senior
Ann Arbor, MI
Full-time
Hybrid
Mid, Senior Level
$80K/yr - $100K/yr
3+ years expThe University of Michigan is seeking a Senior Cost Accountant to join the cost accounting team in Financial Operations. This role is responsible for a broad range of cost accounting activities, including data analysis, indirect cost proposal preparation, and training, while collaborating with key business partners to ensure adherence to university policies and federal cost accounting standards.
E-LearningEducationHigher EducationUniversities
Responsibilities
Develop the university's federal facilities and administrative (F&A) indirect cost rates using the Comprehensive Rate Information System and prepare supporting schedules and analysis. This includes preparation of the comprehensive F&A rate proposal submission in accordance with OMB Uniform Guidance requirements when due (typically every three to four years) as well as ongoing analysis and modeling of underlying rate components for purposes of communicating relevant trends to leadership on an annual basis
Reconcile data inputs from the Comprehensive Rate Information System to the university's general ledger
Perform analytical reviews and provide training to ensure appropriate university-wide accounting and functional class code assignment for expenditures in accordance with university policies and federal cost accounting standards
Develop and maintain complex data models and cost studies, analyze large data sets, identify trends in data, draw conclusions, present results and develop follow up analyses
Work closely with key business partners including Sponsored Programs, the Office of Research and Sponsored Projects, the Office of Space Analysis and other department/unit offices to ensure a clear understanding of university cost accounting policies
Provide campus-wide input and customer service on matters impacting cost accounting and F&A rates, including guidance on emerging Federal regulations and costing issues
Partner with the university community to identify opportunities to enhance processes, training and communication associated with cost accounting practices
Communicate sensitive business matters, complex issues and options to varied audiences
Lead and participate in special projects, including ad-hoc reports and analysis, potential enhancements to the general ledger and other software applications and business process improvements for cost accounting functions
Attend peer group meetings and professional development conferences to keep current on cost accounting standards, best practices and resources
Assist with the evaluation of potential changes to federal regulatory guidance surrounding the cost reimbursement process, including updates to the Uniform Guidance. Responsibilities include updating cost allocation processes and procedures, ensuring ongoing compliance with revised federal and institutional guidelines, reconciling changes in cost pools and allocations, and collaborating closely with departmental and central offices to support effective adoption and consistent application of the new model
Qualification
Required
Bachelor's degree in Accounting
Strong theoretical and practical knowledge of cost accounting standards and relevant regulatory requirements
Three to five years of progressively challenging experience in financial accounting and/or analysis, with an emphasis in financial/management reporting with a proven track record of success
Experience working with complex financial and administrative information systems (Oracle PeopleSoft helpful), relational databases, query tools (e.g. BusinessObjects) and spreadsheets used to model and analyze data
Strong analytical, organizational and leadership skills
Outstanding communicator, with strong writing and speaking skills, who is inclusive and engaging with a wide range of individuals and groups across all levels of a large organization
Ability to assess competing priorities, manage workflow and meet operational deadlines
Proven success in collaboration and consensus building
Ability to create and manage a positive environment for change
Customer focus and proven ability to create a culture of customer service
Proven ability to work across multiple functions and levels of a large, complex organization and demonstrated success
Preferred
Experience with F&A software packages such as the Comprehensive Rate Information System
Knowledge of fund accounting and the Uniform Guidance (2 CFR 200)
Experience with systems implementations and/or business process redesign
Company
University of Michigan
The mission of the University of Michigan is to serve the people of Michigan and the world through preeminence in creating, communicating, preserving, and applying knowledge, art, and academic values, and in developing leaders and citizens who will challenge the present and enrich the future.
10001+ employees
H1B Sponsorship
University of Michigan has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
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Trends of Total Sponsorships
2025 (662)
2024 (594)
2023 (787)
2022 (473)
2021 (411)
2020 (324)
Funding
Current Stage
Late StageTotal Funding
$359.75MKey Investors
Michigan Economic Development CorporationNational Institutes of HealthBreakthrough T1D
2025-07-17Grant· $1M
2025-06-07Grant· $1.17M
2025-04-23Grant
Leadership Team
Greg McGuire
Managing Director, Mcity
Robert Goodspeed
Chair, Urban and Regional Planning Program
Recent News
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