Officer, Costing

1 month ago


India Coats Group plc Full time

**Date**:10 Aug 2023

**Location**: IN

**Company**:Coats

**_Role Purpose_**
- To support the plant assisting with setup of the standard costing valuation. Once implemented, to support the business in maintaining accurate standards, review and analyses variances and take corrective actions. Proactively support business decisions by providing timely cost information for new products._

**_Principal Accountabilities & Key Activities_**

**_SAP implementation_**
- _Establish SAP standard cost system for Coats _

**_Standard cost_**
- _Adopt Coats global procedures to establish product standard costs_
- _Establish annual product standard costs_
- _Coordinate with other functions (manufacturing, master data teams) in establishing cost activities_
- _Provide timely costing for new product to support commercial and business decision making activities_
- _Ensuring consistency in costing templates used in the business unit_
- _Handling ad-hoc request from commercial for new strategic/volume deals with thin margins._
- _Work closely with new product lunch to ensure appropriate pricing._
- _Leading Inter Group price resetting for finished and intermediary products (IGTP process)._
- _Liaised with Internal/External Auditors for half year/year end audits regarding inventory, cost accounting, cost of goods sold_

**_Variance analysis_**
- _Analyze key drivers for standard cost variations to actual cost and take corrective measures to correct them._
- _Calculate price differences (variances) and provide capitalization adjustments for monthly reporting (FIFO inventory valuation adjustment)_
- _Explain variances to Q2F / Q3F / Plan for the MTD results and provide ideas for improvements._
- _Weekly financials update and compare with M+1/Plan. Focus on underpinnings to deliver Plan._
- _Responsible to validate Manufacturing / Procurement projects._

**_Inventory management_**
- _Ensure the book balance reflects actual physical quantity_
- _Lead quarterly, half yearly and annual stock count and ensure all discrepancies are appropriately accounted for and explained_
- _Assist with adequate control measures to ensure safe custody of the inventory_

**_Education, Qualifications and Experience_**
- CA/CWA/CMA Qualified with 2 years or more experience in product costing using SAP ERP system_
- OR_
- CA - Inter/CWA - Inter Qualified with 4 years or more experience in product costing using SAP ERP system_
- OR_
- M. Com/MBA Qualified with 6 years or more experience in product costing using SAP ERP system_.


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