Cost Accounting Manager

Key Responsibilities:

• Cost Management & Analysis:

• Oversee the cost accounting function to ensure accurate calculation of product costs, manufacturing overheads, and cost of goods sold (COGS).
• Perform detailed cost variance analysis, identify cost reduction opportunities, and provide recommendations to management for process improvements.
• Develop and maintain standard costing systems, ensuring accuracy in cost allocation for materials, labor, and overheads.

• Budgeting & Forecasting:

• Prepare comprehensive cost budgets, ensuring they align with the company’s financial goals and strategic objectives.
• Regularly update and forecast costs based on business dynamics, collaborating with key departments for timely inputs.
• Monitor expenditure against budgeted figures and take corrective action where necessary.

• Cost Reporting:

• Provide regular and detailed costing reports, including standard Vs Actual variance analysis and insights on cost trends.
• Present findings to senior management, highlighting key cost drivers and offering actionable recommendations for improvement.

• Inventory Management:

• Ensure accurate inventory valuation for raw materials, work-in-progress (WIP), and finished goods using appropriate costing methods.
• Implement robust processes to minimize inventory obsolescence, improve inventory turnover, and ensure accurate inventory records.
• Perform inventory revaluation

• Internal Controls & Compliance:

• Ensure adherence to accounting standards, financial regulations, and internal controls related to costing, inventory, and financial reporting.
• Assist with internal and external audits by providing accurate and comprehensive costing and inventory data.

• Process Improvement:

• Continuously assess costing methods and accounting processes to identify and implement improvements for enhanced efficiency and accuracy.
• Develop and integrate new systems or tools for better cost tracking, data analysis, and reporting.

• Cross-Functional Collaboration:

• Collaborate with production, procurement, and supply chain teams to gather relevant data for cost tracking and forecasting.
• Provide cost insights for pricing decisions, product profitability analysis, and overall business strategie

Qualifications & Requirements:

• Education:

• Institute of Cost and Works Accountants (ICWA)

  certification is required.
• CA

• Experience:

• Minimum 8-10 years of experience in cost accounting, costing management, or financial analysis in a manufacturing or production environment.
• Proven expertise in managing costing systems, preparing budgets, performing variance analysis, and generating detailed cost reports.
• Experience in using ERP systems such as SAP, Oracle, or similar financial management software is highly desirable.

• Skills:

• Strong knowledge of SAP environment. cost accounting principles, financial regulations, and reporting.
• Advanced proficiency in Microsoft Excel, including macros.
• Strong analytical and problem-solving abilities.
• Ability to communicate complex financial data clearly to non-financial stakeholders.
• Excellent organizational, time-management, and multi-tasking skills.

• Personal Attributes:

• High attention to detail and accuracy.
• Strong communication, interpersonal, and leadership skills.
• Ability to work independently and as part of a collaborative team in a fast-paced environment.

Proactive and results-driven with a commitment to continuous improvement