Cost Accountant - Hydraulic Cylinders Manufacturing, Sale Estimations

Role & responsibilities

As a Cost Accountant in our hydraulic cylinder production company in India you will be responsible for analysing and controlling production costs, developing cost standards, and ensuring accurate inventory valuation. You will also be involved in variance analysis, budgeting, and providing financial insights to all cost centres and management and primarily to also assist Sales on their estimations for quotes and order acceptance to improve profitability and efficiency.

Your Key Responsibilities:

• Cost Analysis:

Analysing production costs and Activity Costs analysis (materials, labour, overhead), identifying cost variances, and recommending cost-saving measures

• Strategic revenue and profit management:

Product pricing and pricing decisions for new and existing products by CVP and Activity based analysis. Introduction of ABC costing and ABC budgeting.

• Lean systems and innovations:

Implementation of lean systems and process innovation

• Standard Costing:

Establishing and maintaining standard costs for materials, labour, and overhead, and updating them as needed.

• Inventory Management:

Monitoring inventory levels, conducting inventory audits, and ensuring accurate inventory valuation.

• Variance Analysis:

Preparing variance analysis reports (e.g., PPV, material revaluation, labour efficiency) and explaining variances to management.

• Budgeting and Forecasting:

Assisting in the preparation of budgets and forecasts for production costs, and monitoring actual costs against budget.

• Cost Reduction Strategies:

Identifying and recommending cost-effective solutions and process improvements to reduce costs and improve profitability, including participating with Designs and Engineering on the Value/Re-engineering matters.

• Financial Reporting:

Preparing cost accounting reports for management, including variance analysis reports, cost comparisons, and profitability analysis.

• Collaboration:

Working with other departments (e.g., production, engineering, purchasing) to ensure accurate cost accounting data and to implement cost-saving measures.

• ERP System:

Utilizing and maintaining the company's Enterprise Resource Planning (ERP) system for cost accounting and inventory management.

Skills and Qualifications:

• Education:

  Qualified Cost Accountant Qualified CMA

• Experience:

  3 -5+ years of experience in cost accounting, preferably in a manufacturing environment.

• Technical Skills:

  Proficiency in ERP systems and accounting software, strong understanding of cost accounting principles, inventory management, and variance analysis.

• Analytical Skills:

  Ability to analyse data, identify trends, and develop solutions. To set up strong guard rails to prevent any financial losses from all stake holders in the loop at the facility by facilitating decision making through data, facts & not otherwise.

• Communication Skills:

  Ability to communicate effectively with different departments and to present financial information to management.

• Professional Certification:

  Relevant professional certification is a plus.

Preferred candidate profile

Location: Patancheru, Hyderabad, Telangana

Age: 30/35 years

Gender: Male/Female

Experience: 7 - 10 years in an Engineering Manufacturing Company and Exposure

Salary: 10 to 12 Lakhs PA