Cost Manager

Job Description

Job Description: Cost & Management Accountant

Position Title: Manager – Costing

Department: Finance

Location: Plant (Mahape)

Reports to: Director Finance

Experience Required: 5–8 years (Manufacturing Industry experience mandatory)

Role Overview

We are seeking a highly skilled and detail-oriented Cost & Management Accountant to join our manufacturing organization. The role requires a professional with strong expertise in cost accounting, audit, budgeting & MIS, inventory management, and internal controls. The incumbent will ensure accurate financial and costing information, provide insights for decision-making, strengthen governance, and drive cost optimization initiatives across the organization.

This is a dual-profile role, combining accounting responsibilities with cost & management accounting and internal control oversight.

Key Responsibilities

1. Cost Analysis, Reporting & Control

• Prepare product-wise cost sheets, job-work cost analysis, and BOM costing.
• Perform variance analysis (material, labor, overhead etc.) and present actionable insights.
• Prepare monthly costing Profit & Loss Account and product contribution margin analysis.
• Support management in pricing, investment evaluation, and make-vs-buy decisions.
• Drive cost reduction initiatives by monitoring key cost drivers and collaborating with vendors and operations.

2. Budgeting, MIS & Internal Controls

• Prepare and monitor annual budgets, rolling forecasts, and profitability statements.
• Deliver accurate and timely MIS reporting, highlighting operational and financial performance against targets.
• Establish, monitor, and periodically test robust internal controls across costing, accounting, inventory, and plant operations.
• Design and implement control checklists, compliance monitoring tools, and audit-ready documentation.
• Proactively identify process gaps and risks, recommend corrective/preventive measures, and ensure strict adherence to SOPs and policies.
• Lead as the first line of defense against financial inaccuracies, leakages, and non-compliance by ensuring effective internal checks.
• Act as key liaison for internal audits, ensuring thorough resolution of audit observations and embedding stronger controls.

3. Inventory & Stock Management

• Accurately value RM, WIP, and finished goods inventory in compliance with accounting and cost standards.
• Oversee monthly physical verification, stock reconciliations, and stock variance reports for management.
• Develop stock-related reports (plant stock statements, ageing reports, slow/non-movers, and inventory holding reports).
• Collaborate with procurement and operations for stock optimization, reduced carrying costs, and improved working capital utilization.

4. General Accounting & Compliance

• Ensure timely recording of financial transactions as per Ind AS.
• Support monthly and annual book closures, reconciliations, and accurate reporting.
• Prepare and provide schedules for cost audits, statutory audits, ensuring compliance with all regulatory requirements.
• Continue strengthening financial governance through internal control frameworks.

Qualifications & Skills

• Educational Background:
• Bachelor’s Degree in Commerce/Accounting/Finance (B.Com / M.Com).
• Qualified Cost and Management Accountant (CMA) – ICMAI or Chartered Accountant (CA)
• Experience:
• 5–8 years in the manufacturing industry in costing, MIS, internal controls, and audit support.
• Technical Skills:
• ERP systems (SAP preferred, costing & manufacturing module).
• MS Excel (advanced level—pivot, lookups, automation & AI tools).
• Knowledge of Ind AS, Cost Accounting Standards, Taxation, and Internal Control frameworks (IFC exposure preferred).

Skills

MIS, Budgeting and forecasting

Internal Controls

Financial compliances

ERP & Excel Proficiency

Analytical Capability

Cost accounting and audit

Inventory Accounting & Pricing Control

Inventory Management