Cost Accountant

1 day ago

Coimbatore South, India Ontrack HR Services Full time

Job Summary:The Cost Accountant is responsible for analysing costs, conducting cost analysis, preparing budgetreports, and providing insights to improve cost-efficiency in our manufacturing processes. This rolerequires a strong understanding of accounting principles, cost analysis techniques, and inventorymanagement.Responsibilities: Cost Analysis: Analyse and evaluate the costs associated with production; monitor andreport on variances between actual and budgeted costs; identify cost reductionopportunities and recommend strategies to optimize expenses. Budgeting and Forecasting: Assist in the preparation of annual budgets and periodicforecasts; collaborate with cross-functional teams to gather relevant financial data forbudgeting purposes; provide insights to improve accuracy in budgeting and forecastingprocesses. Inventory Management: Monitor and track inventory levels, ensuring accuracy in valuationand reconciliation; perform periodic inventory audits to ensure proper accounting of rawmaterials and finished goods; evaluate slow-moving or obsolete inventory and proposestrategies for clearance. Cost Control and Reporting: Develop and maintain cost accounting procedures and controls;prepare detailed cost reports, including cost of goods sold (COGS) and gross margin analysis;generate cost variance analysis reports and recommend corrective actions. Product Costing: Calculate and review the standard and actual costs of products; collaboratewith engineering and production teams to ensure accurate cost allocation to products;participate in the determination of pricing strategies based on accurate cost information. Process Improvement: Collaborate with cross-functional teams to identify processinefficiencies and recommend improvements; participate in cost optimization initiatives,suggesting ways to enhance productivity and reduce waste. Compliance and Auditing: Ensure compliance with accounting standards, regulations, andinternal policies; assist in internal and external audits related to cost accounting processes. Ad hoc Analysis: Perform ad hoc financial analysis as required to support decision-makingand strategic initiatives.

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