Cost Accountant cum Data Analysis

Key Responsibilities:

• Cost Analysis and Reporting:
• Prepare and analyze cost reports on a regular basis (e.g., monthly, quarterly, annually).
• Provide detailed reports on cost variances, explaining deviations from budgets or forecasts.
• Track and report on production costs, labor costs, and overhead costs.
• Budgeting and Forecasting:
• Assist in creating the annual budget and monitor spending against the budget.
• Provide detailed forecasts for cost structures, anticipating potential fluctuations or changes.
• Cost Control:
• Implement strategies to reduce costs while maintaining product or service quality.
• Analyze cost drivers and make recommendations for improvements in operations.
• Inventory Management:
• Ensure proper inventory valuation and maintain accurate records.
• Assess inventory costs, including raw materials, work in progress, and finished goods.
• Product Costing:
• Assign costs to products or services using methods like job order costing or process costing.
• Work closely with production and operations departments to estimate accurate product costs.
• Internal Controls and Compliance:
• Ensure adherence to financial controls and accounting standards.
• Comply with internal audit processes, external audits, and governmental regulations.
• Data Analysis and Decision Support:
• Provide data and analysis for management’s decision-making, such as pricing strategies, new project evaluations, and cost-benefit analysis.
• Help determine the cost impact of business decisions or strategic initiatives.
• Collaboration with Other Departments:
• Work with the procurement, production, and finance teams to track spending and identify areas for improvement.
• Assist with financial audits by providing relevant data and supporting documentation.

Skills Required:

• Analytical Skills: Ability to analyze and interpret data, identify trends, and make recommendations.
• Detail-Oriented: Precision and accuracy are crucial, especially when dealing with costs, forecasts, and financial reports.
• Communication Skills: Must be able to present complex financial data clearly and effectively to non-financial stakeholders.
• Proficiency in Accounting Software: Familiarity with tools like QuickBooks, SAP, Oracle, or specialized costing software.
• Excel Skills: Strong knowledge of Excel, including formulas, pivot tables, and financial modeling.
• Problem-Solving: Ability to identify cost issues and implement corrective actions.

Qualifications:

• Education: A degree in Accounting, Finance, or a related field. Many cost accountants also have certifications, such as Certified Management Accountant (CMA) or Chartered Accountant (CA).
• Experience: Typically, 3–5 years of experience in accounting or cost analysis.
• Certifications: While not always required, certifications such as the CMA or CIMA can enhance job prospects and career growth.

Job Types: Full-time, Permanent

Pay: ₹45,000.00 - ₹50,000.00 per month

Benefits:

• Leave encashment

Education:

• Master's (Preferred)

Experience:

• Cost accounting: 3 years (Preferred)
• Budgeting: 3 years (Preferred)
• Data analytics: 3 years (Preferred)

License/Certification:

• ICMAI CMA (Preferred)

Work Location: In person