Cost Accounting Specialist

2 weeks ago

Anantapur, Andhra Pradesh, India beBeeCost Full time ₹ 17,50,000 - ₹ 25,00,000
Cost Management Professional

Key Responsibilities:

  • Develop and maintain a comprehensive cost accounting function to ensure accurate calculation of product costs, manufacturing overheads, and cost of goods sold (COGS).
  • Perform detailed cost variance analysis, identify cost reduction opportunities, and provide recommendations to management for process improvements.
  • Establish standard costing systems, ensuring accuracy in cost allocation for materials, labor, and overheads.
  • Prepare comprehensive budgets, ensuring they align with the company's financial goals and strategic objectives.
  • Regularly update and forecast costs based on business dynamics, collaborating with key departments for timely inputs.
  • Monitor expenditure against budgeted figures and take corrective action where necessary.
  • Provide regular and detailed costing reports, including standard Vs Actual variance analysis and insights on cost trends.
  • Present findings to senior management, highlighting key cost drivers and offering actionable recommendations for improvement.
  • Ensure accurate inventory valuation for raw materials, work-in-progress (WIP), and finished goods using appropriate costing methods.
  • Implement robust processes to minimize inventory obsolescence, improve inventory turnover, and ensure accurate inventory records.
  • Perform inventory revaluation
  • Adhere to accounting standards, financial regulations, and internal controls related to costing, inventory, and financial reporting.
  • Assist with internal and external audits by providing accurate and comprehensive costing and inventory data.

Required Skills and Qualifications:

  • Education:
  • Institute of Cost and Works Accountants (ICWA) certification is required.
  • CA
  • Experience:
  • Minimum 8-10 years of experience in cost accounting, costing management, or financial analysis in a manufacturing or production environment.
  • Proven expertise in managing costing systems, preparing budgets, performing variance analysis, and generating detailed cost reports.
  • Experience in using ERP systems such as SAP, Oracle, or similar financial management software is highly desirable.
  • Skills:
  • Strong knowledge of SAP environment. cost accounting principles, financial regulations, and reporting.
  • Advanced proficiency in Microsoft Excel, including macros.
  • Strong analytical and problem-solving abilities.
  • Ability to communicate complex financial data clearly to non-financial stakeholders.
  • Excellent organizational, time-management, and multi-tasking skills.
  • Personal Attributes:
  • High attention to detail and accuracy.
  • Strong communication, interpersonal, and leadership skills.
  • Ability to work independently and as part of a collaborative team in a fast-paced environment.

As a proactive and results-driven individual, you will be committed to continuous improvement.

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