ideaForge - Cost Manager

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: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.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.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.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:- Bachelors Degree in Commerce/Accounting/Finance (B.Com / M.Com).- Qualified Cost and Management Accountant (CMA) ICMAI or Chartered Accountant 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 levelpivot, lookups, automation & AI tools).- Knowledge of Ind AS, Cost Accounting Standards, Taxation, and Internal Control frameworks (IFC exposure MIS, Budgeting and forecasting.- Internal Controls.- Financial compliances.- ERP & Excel Proficiency.- Analytical Capability.- Cost accounting and audit.- Inventory Accounting & Pricing Control.- Inventory Management. (ref:iimjobs.com)