Cost Accounting Specialist

ROLES & RESPONSIBILITIES

Cost Accounting Responsibilities :

Maintain and update standard cost structures for products and materials.

Analyse manufacturing and operational costs, identifying variances and recommending corrective actions.

Prepare detailed cost reports for management, including margin analysis, overhead allocation, and cost trends.

Support internal and external audits with cost-related documentation.

Implement cost-saving initiatives by working closely with production and supply chain teams.

Inventory Valuation Responsibilities :

Perform monthly, quarterly, and annual inventory valuations in accordance with accounting standards.

Review and reconcile inventory balances between physical stock, warehouse records, and ERP systems.

Monitor inventory movements, including issues, transfers, adjustments, and scrap.

Ensure accurate valuation methods (FIFO, weighted average, standard cost) are applied consistently.

Investigate inventory discrepancies and coordinate corrective actions with warehouse and production.

Analyse slow-moving, obsolete, or excess inventory and prepare aging reports.

Prepare inventory-related journal entries and support month-end closing.

Key Skills & Competencies :

Strong understanding of cost accounting principles and practices.

Proficiency in ERP systems such as SAP.

Advanced Excel skills (pivot tables, lookups, power query preferred).

Strong analytical and problem-solving abilities.

Knowledge of inventory management and valuation methodologies.

Accuracy, attention to detail, and strong control mentality.

Ability to communicate cost insights to non-finance stakeholders.

Qualifications & Experience :

Bachelor’s degree in Accounting, Finance, or related field.

Professional certification – CMA (Qualified / Semi Qualified)

4–5 years of experience in cost accounting, preferably within manufacturing or supply chain environments.

Experience with inventory accounting or cost analysis is required.