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Full-Time

Sr Analyst

Cost Accounting

Posted on 6/5/2024

Cresco Labs

Cresco Labs

1,001-5,000 employees

Cultivates, processes, and sells cannabis products

Social Impact
Consumer Goods

Compensation Overview

$80k - $90kAnnually

+ Bonus

Mid

Illinois, USA

Requires onsite presence in Illinois for regular travel to facilities.

Category
Cost Accounting
Accounting
Required Skills
Data Analysis
Excel/Numbers/Sheets
Requirements
  • Bachelor’s Degree in accounting or business with accounting concentration.
  • 3+ years accounting experience (cost/inventory accounting highly preferred).
  • Advanced to Expert proficiency in MS Excel required, including working with large amounts of data, complex functions, and nested formulas.
  • Experience with financial systems (Intacct and BPC helpful) with knowledge of data structure and reporting requirements.
  • Power Query proficiency helpful.
  • Strong interpersonal skills and consistent follow through on assigned tasks.
  • Enjoys working in a start-up, fast-paced environment.
  • Easily adapts to shifting priorities or directives.
  • Deadline driven.
  • Ability to work independently in a highly organized manner and demonstrate sound judgment.
  • Experience working directly with external auditors preferred.
  • Available to work some nights and weekends during quarter close.
Responsibilities
  • Subject matter expert for cost and inventory accounting
  • Responsible for processing and preparation of the inventory analysis cost model for at least one market.
  • Acts as liaison with operations for the market(s) associated with the assigned cost model(s).
  • Partner with the operational teams across the organization on key cost projects.
  • Prepare inventory analysis and valuation on a quarterly basis, with estimates and other key assumptions developed monthly.
  • Calculates inventory reserve schedules on a quarterly basis.
  • Prepares cost estimates and required KPI’s monthly.
  • Prepare schedules used in monthly, quarterly, and annual reporting for both internal and external reporting purposes.
  • Assist with preparation of financial statement analytics on a quarterly basis.
  • Assist with operational cost model and SKU-level analysis initiatives to provide improved profitability reporting. Skilled at turning data and trends into insights to assess performance and impact business decisions.
  • Participate in and/or lead monthly and quarterly meetings with operational teams to support the growth of the business and share key cost findings. Ensure changes in operations are reflected in financial results, forecasts, and cost models.
  • Assist with the continuous improvement of processes and procedures as the company expands in both new and established markets.
  • Prepare and update documentation of business processes and accounting policies to maintain and strengthen internal controls.
  • Interact with external auditors for quarterly reviews and year-end audit.
  • Ability to travel to facilities on a regular basis.

Cresco Labs is involved in the U.S. cannabis industry as a grower, processor, and retailer of cannabis products for recreational and medical users. The company offers a variety of trusted brands to meet diverse consumer needs and operates in eleven states with a focus on high-demand markets and strict regulations. Cresco Labs aims to benefit local communities through responsible practices, eco-friendly packaging, and education initiatives. Its goal is to build a reputable cannabis industry while ensuring high-quality products and maintaining consumer trust.

Company Stage

IPO

Total Funding

$367M

Headquarters

Chicago, Illinois

Founded

2013

Growth & Insights
Headcount

6 month growth

0%

1 year growth

-2%

2 year growth

-12%
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Simplify's Take

What believers are saying

  • Cresco Labs' robust financial health, evidenced by a tenfold increase in operating cash flow year-over-year, indicates strong growth potential.
  • The company's expansion into new markets, such as the recent launch in Ohio and new store openings in Pennsylvania, demonstrates its aggressive growth strategy.
  • Promotion of experienced leaders like Greg Butler to President ensures strong leadership and strategic direction for future growth.

What critics are saying

  • Initial supply hiccups, as seen in Ohio, could impact customer satisfaction and brand reputation.
  • The cannabis industry is highly regulated and subject to changing laws, which could pose operational challenges and financial risks.

What makes Cresco Labs unique

  • Cresco Labs operates across the entire cannabis supply chain, from cultivation to retail, ensuring control over product quality and consistency, unlike many competitors who focus on just one segment.
  • Their focus on high-demand, highly regulated markets creates significant barriers to entry for competitors, giving Cresco a strategic advantage.
  • Cresco's commitment to community empowerment and eco-friendly practices sets them apart in an industry often criticized for its environmental impact.

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