Cost Accounting

1 day ago

Ahmedabad, Gujarat, India Oswal Industries Limited Full time ₹ 6,00,000 - ₹ 12,00,000 per year

Company Overview

Oswal Industries Limited (OIL) is a renowned manufacturer in the industrial machinery manufacturing sector, specializing in the production of valves. Located at India's largest single-location integrated manufacturing facility, OIL supports diverse sectors globally, including oil and gas, petrochemicals, power, and nuclear applications. Accredited with multiple certifying bodies, OIL takes pride in its in-house R&D services and testing facilities. Headquartered in Mumbai, Maharashtra, OIL serves as an industry leader with a strong focus on quality and innovation.

Job Overview

Oswal Industries Limited is seeking a Mid-Level Cost Accountant to join our team at our Ahmedabad location. This full-time position requires a dynamic individual with expertise in cost accounting and financial analysis to bolster our financial strategies and support our ongoing operations. The successful candidate will play a crucial role in managing cost functions, optimizing budgeting processes, and contributing to strategic financial decision-making.

Qualifications and Skills

  • Financial Analysis (Mandatory skill): Expertise in analyzing financial data and providing actionable insights to improve overall financial health.
  • Budgeting (Mandatory skill): Proficiency in preparing budgets and helping management in resource allocation to achieve organizational goals.
  • Cost Management (Mandatory skill): Strong ability to identify, analyze, and manage areas of concern regarding costing to enhance profitability.
  • Variance Analysis: Ability to perform analysis identifying deviations from budgets and suggest corrective measures.
  • Inventory Valuation: Proficient in assessing the value of inventory held by the company to ensure accurate financial recording.
  • Activity-Based Costing: Skilled in implementing ABC to allocate costs more accurately to products and services.
  • Profitability Analysis: Strong ability to analyze business segments and provide insights on profitability to drive performance.
  • Cost Control: Ability to monitor and control costs, identifying opportunities for cost reductions and efficiency improvements.

Roles and Responsibilities

  • Conduct thorough financial analyses to aid management in strategic planning and decision-making.
  • Prepare and manage comprehensive budgets ensuring financial discipline aligning with organizational goals.
  • Monitor and control operational costs, identifying areas for cost-saving opportunities and efficiency improvements.
  • Evaluate and enhance cost control systems, identifying discrepancies, and implementing corrective actions when necessary.
  • Develop and maintain standardized cost accounting processes to improve operational workflow and data integrity.
  • Perform regular variance analysis, evaluating discrepancies to guide financial decision-making processes.
  • Assess and establish the cost structure for new products, including raw material, labor, and overhead costs.
  • Collaborate with cross-functional teams to ensure comprehensive cost considerations are integrated into production and operational plans.

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