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Role Description : Manager – Accounts Job Title
Manager – Budgeting & Costing
Function
Finance & Accounts
Role Purpose
To ensure management of costs, set up standard costs for SKUs, and analyze and report cost deviations.
Reporting To
Director
Location
Corporate
Education
M. Com, MBA (Finance)
Experience
8–10 years of relevant experience
Role Description – Responsibilities 1. Budgeting & Forecast (AOP)
- Prepare guidelines for AOP budgets considering internal and external factors
- Guide departments in preparing functional budgets
- Consolidate functional budgets into organizational budgets
- Present AOP to the Board and revise based on Board feedback
- Seek Board approval for AOP budgets
- Review cost centers, cost structures, and departmental documentation
2. Budgetary Control
Monitor and review AOP performance monthly and half-yearlyPrepare exception reports to track performance deviationsPresent AOP vs actuals in internal board meetingsRevise budgets and seek Board approval as needed3. Costing
Provide input for product pricing and cost audit documentation (NRV, commission, discounts)Set standard costs for each SKU and in-house materialsCreate master data for new SKUs based on procurement / job workPlan activity to determine standard costs (labour hours, power, fuel, etc.)Review and release standard costs for all productsAnalyze process orders for efficiency and deviationGenerate cost centre-wise expense reports and product / project variance analysisCheck job work norms vs actual performanceProcess order settlements and analyze production variance across factoriesEnsure correct cost centre allocation for expensesProvide cost analysis reports and recommend corrective actionsConduct stock valuation including excise and freightReconcile excise and production dataPrepare documentation for cost audits4. CAPEX Management
Ensure CAPEX project settlementMaintain and update the fixed asset register (as per Schedule VI)Conduct physical verification and tagging of assets5. Closing & Reporting
Prepare SKU-wise contribution statementsPerform overhead accounting and allocationScrutinize overhead costs like electricity, travel, etc.Prepare MIS reports cost center-wiseGenerate management review reportsAssignment
Develop policies and procedures for costing processRedesign key MIS reportsKey Performance Indicators
Delays in preparation of costing reports – MonthlyErrors in preparation of costing reports – MonthlyDelays in preparation of MIS reports – MonthlyErrors in preparation of MIS reports – MonthlyDevelopment of new MIS reports – Half-yearlyQualifications made by cost auditors – Half-yearlyNumber of cost reduction opportunities identified – Half-yearlyAdditional Role Description – Responsibilities 1. Inputs for AOP
Provide inputs considering internal and external business factorsPresent functional AOP to superiors for approval2. Capital Structure Optimization
Prepare long-term cash flow and capital requirement forecastsImplement Board-approved liquidity strategiesProject and plan funding requirementsEvaluate and arrange short-term and long-term fundingLiaise with banks, FIs, capital marketsSecure non-funding options (LCs, bank guarantees)Approve capital requirements and bank facilitiesEnsure timely repayment, disclosures, inspectionsMaintain operational banking relationships3. Financial Risk Management
Provide input for financial risk strategies and solutionsGuide FOREX treasury on derivative and forward contracts4. Working Capital Management
Manage trade financing through supplier and buyer creditNegotiate credit limits and overdrafts with banksMonitor fund allocation and returns5. Investor Relations
Manage relationships and communication with investors and analystsDevelop communication strategies for sensitive eventsCoordinate quarterly earnings callsImplement annual investor relations planRepresent company in investment conferences and press eventsMaintain investor and analyst databasesMonitor market and regulatory environmentRespond to investor queries promptly6. Export Documentation
Standardize Letter of Credit (LC) termsDraft exceptional clauses in LCsScrutinize incoming LCsMonitor export realization with bank and sales team7. Credit Rating Management
Liaise with credit rating agencies for optimal rating documentation8. Financial Performance Reporting
Provide cash flow, investment, and risk performance data to the Board9. Internal & External Audits
Plan and manage audit schedulesProvide audit documentation as requiredAssignment
Develop procedures for long- and short-term loan availingEnsure error-free export / import documentation (LCs, post-shipment, etc.)Key Performance Indicators
Response time to banks / FIs for reporting – QuarterlyDebt-equity ratio – Half-yearlyChange in bank / FI credit rating – Half-yearlyNet working capital vs budget – QuarterlyInterest coverage ratio – Half-yearlyDeviation in cash flow forecast (actual vs budget) – MonthlyCost of capital vs planned – Half-yearlyYields on short- / long-term investments – Half-yearlyPerformance of bank terms / limits vs planned – QuarterlyShow more
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Skills Required
Costing, Export Documentation, Financial Risk Management, Budgeting, Working Capital Management, Investor Relations
