Cost Accountant

Job Location

The job location is our new office in Avadi (Near to Vel-Tech).

Role & responsibilities

This is a key position within the Finance Department, responsible for developing financial controls and procedures to improve visibility and enhance cost reduction measures. The role will focus on areas such as gross margin returns, inventory sourcing and management, direct cost centres, and overheads. The primary objective is to identify weaknesses that may erode gross margin returns in the long run and implement corrective measures.

• Identify weaknesses contributing to erosion of gross margins.
• Develop inventory sourcing solutions to eliminate unnecessary cash outflow.
• Prepare action plans based on audits of major projects to evaluate actual gross margin achieved versus budget.
• Conduct purchasing analysis of both standard and non-standard items sourced within India.
• Manage surplus and obsolete inventory to optimize profitability and cash flow.
• Review and analyse wages, overtime, and rework processes in ERP systems that distort reported gross margins.
• Analyse Indian manufacturing activities with respect to volumes, inventory, and ERP processes.
• Assist with posting of month-end journals and preparation of month-end Management Accounts (MIS), including Balance Sheet reconciliations.
• Conduct analysis of Purchase and Job Costing variances and implement processes to minimize discrepancies.
• Ensure daily Cycle Counting is completed by the Production team and investigate any significant discrepancies.
• Support ad-hoc project analysis and provide KPI (Key Performance Indicator) reporting as required by both India and UK Finance Teams.
• Focus on indirect costs such as subcontracting, inspection (third-party), and logistics (road, rail, air, sea freight).
• Support management accounting responsibilities as directed by the Financial Controller/Director.

Preferred candidate profile

• Strong communication skills in English and local languages.
• Ability to challenge existing processes and suggest improvements.
• Excellent analytical and problem-solving skills.
• Proficiency in ERP systems (SAP/Oracle/Tally/other Indian ERP platforms).

Qualifications and Experience

• Cost & Management Accountant (CMA) from the Institute of Cost Accountants of India (ICAI). Alternatively, Chartered Accountant (CA / CA Inter) with specialization in cost accounting.
• 8 to 13 years of experience in manufacturing cost accounting in India.
• Hands-on experience with Indian taxation, GST compliance, and cost audit requirements.
• Exposure to Indian Companies Act and statutory reporting standards.