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 :

Proactive and results-driven with a commitment to continuous improvement