Cost Accounting Specialist

The Assistant Manager – Costing is responsible for preparing, monitoring, and analysing cost-related data to support operational efficiency and strategic decision-making in a food manufacturing environment. The role involves product costing, variance analysis, inventory valuation, and ensuring compliance with accounting and regulatory standards.

Key Responsibilities :

1. Product Costing & Standard Cost Maintenance

• Prepare and maintain standard costs for all SKUs, BOMs (Bill of Materials), and recipes.
• Prepare a Monthly cost sheet based on the actual cost incurred
• Analyse changes in materials, labour, and overhead costs to determine effects on product cost.
• Assist in new product costing.
• Prepare monthly / quarterly cost reports, profitability analysis

2. Cost Control & Variance Analysis

Monitor actual vs standard cost variances (material, labour, overhead).

Conduct root cause analysis for variances and suggest corrective actions.

Track cost reduction initiatives and report savings.

Analyse production cost trends and forecast future costs

Analyse trends and variances in sales, costs, and performance metrics.

Highlight areas of concern or improvement.

Assist in system upgrades or implementations related to MIS.

Assist in annual budget preparation.

Support cost forecasting and scenario analysis.

Work closely with the Stores, FG inventory and production teams

3. Inventory Management & Valuation

Monitor inventory movements across raw materials and finished goods.

Ensure accurate inventory valuation and provisions for obsolete / slow-moving items.

Assist in periodic stock audits and physical verifications.

4. Compliance & Internal Controls

Ensure adherence to internal control systems and accounting standards.

Assist in internal and statutory audits related to costing.

Key Skills & Competencies :

Strong analytical and numerical skills

In-depth knowledge of cost accounting principles and practices

Proficiency in ERP systems (SAP, Oracle, etc.)

Advanced Excel skills : knowledge of BI tools (Power BI / Tableau) is a plus

Strong communication and interpersonal skills

Ability to work under pressure and manage multiple deadlines

Qualifications :

Education :

CMA (ICWA) / CA / CMA Inter / CA Inter

Experience :

5+ years of experience in a similar costing role within the food manufacturing or FMCG industry

Preferred Industry Exposure :

Food & Beverage Manufacturing

FMCG / Consumer Goods

Dairy, Bakery, or Packaged Foods production environments