Cost Accountant (Manufacuring must, 12lpa)

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Salary - 12 LPA

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Key Responsibilities:

Cost Analysis and Reporting:

Analyze manufacturing costs, including raw materials, labor, overhead, and utilities, to identify variances and trends.

Prepare detailed cost reports, budget analyses, and financial forecasts to support management decision-making.

Monitor and report on key performance indicators (KPIs) related to manufacturing efficiency, cost per unit, and product profitability.

Inventory Management:

Coordinate with the inventory control team to ensure accurate tracking and valuation of inventory levels.

Conduct regular audits of inventory records, reconcile discrepancies, and implement corrective actions as needed.

Analyze inventory turnover rates, carrying costs, and obsolete inventory to optimize inventory management practices.

Cost Control and Budgeting:

Develop and maintain standard costing systems for all products, incorporating material costs, labor costs, and overhead expenses.

Collaborate with department heads and production managers to establish annual budgets and cost targets for manufacturing operations.

Monitor actual performance against budgeted costs and variance analysis, providing explanations for deviations and recommending corrective actions.

Process Improvement:

Identify opportunities for cost reduction and process optimization through continuous analysis of manufacturing processes and workflows.

Partner with cross-functional teams to implement cost-saving initiatives, streamline operations, and improve efficiency.

Conduct cost-benefit analyses for capital investments, process improvements, and strategic initiatives.

Compliance and Reporting:

Ensure compliance with accounting principles, regulatory requirements, and company policies in all cost accounting activities.

Prepare accurate and timely financial reports, including cost of goods sold (COGS) statements, for internal and external stakeholders.

Assist with external audits and tax filings, providing documentation and analysis as required.

Qualifications:

Bachelor's degree in Accounting, Finance, or related field. Professional certification (e.g., CMA, CPA) preferred.

Proven experience in cost accounting or financial analysis, preferably in a manufacturing environment, with knowledge of HVAC industry operations a plus.