Dm-costing

2 months ago

Navi Mumbai Maharashtra, India ideaForge Full time

Finance

Navi Mumbai (On-Site)

Executive, Associate

**Job Description**:
**For the Role of Cost Accountant**

Key Responsibilities:

- Cost Analysis and Reporting:

- Conduct regular cost analysis and prepare detailed reports to identify cost-saving opportunities and improve profitability.
- Analyze product costs, including material, labor, and overhead, and provide accurate cost estimates for new products or process changes.
- Monitor and report on cost variances, investigating any significant deviations and recommending corrective actions.
- Budgeting and Forecasting:

- Assist in the development and implementation of annual budgets and forecasts for the manufacturing operations.
- Monitor actual financial performance against budgets, identifying and explaining variances.
- Provide inputs and support in developing financial projections for strategic initiatives, capital expenditure projects, and cost optimization programs.
- Inventory Management:

- Develop and implement effective inventory management procedures, ensuring accurate valuation, proper controls, and optimum stock levels.
- Perform regular inventory reconciliations and review stock aging reports to identify slow-moving or obsolete inventory and propose corrective actions.
- Collaborate with procurement and production teams to optimize inventory turnover, reduce carrying costs, and improve working capital utilization.
- Implementation of Marginal & Standard Costing, understanding of the BOM costing.
- Cost Control and Process Improvement:

- Identify areas of cost improvement and operational efficiency enhancement within the manufacturing processes.
- Work closely with cross-functional teams to implement cost control measures and process improvements, ensuring adherence to standard operating procedures (SOPs) and best practices.
- Conduct regular reviews of manufacturing processes and cost drivers, making recommendations for cost reduction initiatives and performance optimization.
- Financial Analysis and Decision Support:

- Provide financial analysis and decision support to management, including evaluating investment opportunities, pricing decisions, and make-vs-buy analyses.
- Collaborate with other departments to develop and analyze key performance indicators (KPIs) and metrics to assess the company''''s financial health and operational effectiveness.
- Prepare ad-hoc financial reports and presentations to support strategic initiatives and facilitate data-driven decision-making.

Qualifications and Experience:

- Bachelor''''s degree in Commerce, Finance, Accounting, or a related field.
- Certified Cost and Management Accountant (CMA) qualification from the Institute of Cost Accountants of India (ICMAI).
- Minimum 3-5 years of relevant experience in cost accounting, management accounting, or financial analysis within the manufacturing industry.
- Sound knowledge of Indian accounting standards, cost accounting principles, and relevant taxation regulations.
- Proficiency in using SAP or equivalent ERP accounting & Manufacturing module in the software and advanced knowledge of MS Excel for analysis and reporting.
- Strong analytical and problem-solving skills, with the ability to interpret complex financial data and present actionable insights.
- Excellent communication and interpersonal skills to collaborate effectively with cross-functional teams and present financial information to non-financial stakeholders.
- Attention to detail, with a focus on accuracy and precision in financial analysis and reporting.
- Ability to work independently, prioritize tasks, and meet deadlines in a fast-paced manufacturing environment.

**Skills**:

- Margin Analysis

Cost Accounting Standards

Cost Analysis

Costings

Standard Costs

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