Senior Cost Accountant

We are seeking a skilled professional to oversee the Cost Accounting Function and drive business success.

• Key Responsibilities:

    • Ensure accurate calculation of product costs, manufacturing overheads, and cost of goods sold (COGS) for informed decision making.

    • Perform detailed cost variance analysis, identify opportunities for improvement, and provide actionable recommendations to senior management.

    • Develop and maintain standard costing systems, ensuring accuracy in cost allocation for materials, labor, and overheads, and optimizing business processes.

Strategic Budgeting & Forecasting:

    • Prepare comprehensive cost budgets, aligning with financial goals and strategic objectives, and driving business growth.

    • Regularly update and forecast costs based on business dynamics, collaborating with key departments for timely insights.

    • Monitor expenditure against budgeted figures, and implement corrective action where necessary, to ensure financial discipline.

Cost Transparency:

    • Provide regular and detailed costing reports, including standard Vs Actual variance analysis, and offering valuable insights on cost trends.

    • Present findings to senior management, highlighting key cost drivers, and providing actionable recommendations for improvement, to inform strategic decisions.

Inventory Optimization:

    • Ensure accurate inventory valuation for raw materials, work-in-progress (WIP), and finished goods using appropriate costing methods, minimizing obsolescence, and maximizing turnover.

    • Implement robust processes to ensure accurate inventory records, minimize waste, and optimize production planning.

    • Conduct regular inventory revaluations to ensure alignment with changing market conditions.

Compliance & Risk Management:

    • Ensure adherence to accounting standards, financial regulations, and internal controls related to costing, inventory, and financial reporting, maintaining a culture of compliance.

    • Assist with internal and external audits by providing accurate and comprehensive costing and inventory data, ensuring seamless audit processes.

Process Excellence:

    • Continuously assess costing methods and accounting processes to identify opportunities for improvement, and implement changes to enhance efficiency and accuracy.

    • Develop and integrate new systems or tools for better cost tracking, data analysis, and reporting, driving process excellence.

Cross-Functional Collaboration:

    • Collaborate with production, procurement, and supply chain teams to gather relevant data for cost tracking and forecasting, fostering a culture of collaboration.

    • Provide cost insights for pricing decisions, product profitability analysis, and overall business strategy, informing strategic choices.

Requirements:

• Education: ICWA certification is required.

CA certification is also highly desirable.

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.

Proactive and results-driven with a commitment to continuous improvement.