Costing Manager - Accounts

To manage, analyze, and control all cost-related activities in the manufacturing process, ensuring accurate cost computation, variance analysis, budgeting, and cost optimization. The role aims to improve profitability through systematic cost monitoring and strategic cost control measures.

Key Responsibilities :

1. Product Costing & Analysis

Prepare detailed product costing, including raw materials, labor, overheads, and conversion costs.

Develop standard cost models for existing and new products.

Conduct periodic cost variance analysis (standard vs actual).

Review and update Bill of Materials (BOM) and routings with production and planning teams.

2. Cost Control & Optimization

Identify areas of cost reduction and process improvement across departments.

Monitor material consumption, wastage, and yield to ensure efficiency.

Track and control overhead costs across cost centers.

Provide cost impact assessments for management decisions (e.g., pricing, product mix, or make-or-buy decisions).

3. Budgeting & Forecasting

Assist in annual budget preparation and rolling forecasts.

Compare actual performance against budget and report deviations with explanations.

Support management in developing cost-based strategies and financial plans.

4. Inventory & Cost Records

Ensure accuracy of inventory valuation as per cost accounting standards.

Maintain proper records of stock movements, WIP, and finished goods.

Conduct periodic stock verification and reconciliation with the stores / accounts team.

5. Reporting & Compliance

Prepare monthly / quarterly costing reports and dashboards for management review.

Support statutory audits and cost audits with necessary documentation.

Ensure compliance with Cost Accounting Standards (CAS) and other statutory requirements.

6. Coordination & Team Management

Liaise with production, planning, purchase, and finance teams for cost data collection and validation.

Train and guide costing executives and plant accountants on cost control practices.

Support ERP implementation and costing module improvements.

Key Skills & Competencies :

Strong analytical and numerical ability

Proficiency in cost accounting principles and methods

Knowledge of manufacturing processes, BOMs, and process costing

Hands-on experience with ERP systems (SAP, Oracle, Tally, etc.)

Excellent Excel and data analysis skills

Detail-oriented with a focus on accuracy and timelines

Ability to communicate effectively with cross-functional teams

Qualification & Experience :

Education :

ICWA / CMA preferred

Experience :

8-15 years in costing function, preferably in manufacturing or process industries (chemicals, engineering, FMCG, etc.)

Industry Preference :

Chemical, Engineering, Automotive, FMCG, or other process-driven industries