Cost Accountant

Job Description Costing & Pricing Specialist

Educational Background:

• Bachelor's / Master's degree in Finance, Accounting, Cost Management, or a related field.
• Professional certifications like CMA, CA, or CIMA (preferred).

Key Responsibilities:

A) Costing & Pricing

1. Analyze raw material landed cost, overhead absorption, and cost behaviour for accurate pricing.
2. Conduct batch costing and control to ensure cost efficiency.
3. Perform segment margin analysis for profitability insights.
4. Evaluate market pricing trends monthly and determine quarterly pricing for the marketing team.
5. Provide product cost, price, and financial insights to management.
6. Manage B2B customers, internal & external stakeholders, and group entities for pricing strategies.
7. Forecast future product pricing to support business development.
8. Communicate customer-specific pricing to the CS team for seamless order processing.
9. Prepare BOM-based prime cost calculations, FAC tabulation, and price listings.
10. Evaluate product-wise raw material cost and ensure profitability.
11. Conduct a comprehensive analysis of overheads (variable, fixed, and selling costs per unit).
12. Ensure BOM FAC alignment with adequate margins.
13. Monitor internal controls on production output and raw material consumption.
14. Ensure accurate valuation of closing stock to reflect fair margins.
15. Support cost audits and clarify auditor queries on inventory & costing.
16. Manage the debit/credit note process for group and customer agreements.
17. Circulate cost/price updates to relevant stakeholders.
18. Regularly update and share cost/price sheets with stakeholders.
19. Conduct monthly FAC variance analysis (actual vs standard costs).
20. Reconcile CoGS with overall product-wise costs and present variance analysis to management.
21. Handle finished goods valuation and pricing control.
22. Manage special price requests and approval processes.
23. Provide detailed overhead reporting to department heads.
24. Report overall overhead per unit at the product group level to management.
25. Ensure effective control over overhead budgets vs actuals, providing variance reports to management.

B) Inventory Control

1. Monitor raw material and packing stock movements and perform reconciliations.
2. Track finished goods inventory movement and ensure reconciliation accuracy.
3. Analyze inventory holding, slow-moving & non-moving stock, and report findings to management.
4. Identify inventory gaps and collaborate with warehouses for reconciliations.
5. Work closely with production, procurement, and warehouse teams to enhance inventory control and reporting.

C) Budgeting & Cost Control

1. Develop and prepare annual budgets based on organizational goals.
2. Collect and consolidate data from all departments for budget planning.
3. Track monthly actual vs budget variances and generate reports.
4. Provide variance analysis reports to management and respective departments.
5. Implement cost control strategies with detailed item-wise analysis.
6. Ensure effective expenditure control through continuous monitoring.

D) Reporting & Compliance

1. Circulate quarterly market pricing updates after reviewing marketing team inputs.
2. Create and maintain a comprehensive price master database.
3. Provide transparent overhead reports to HODs for departmental budgeting.
4. Monitor and report overall overhead per unit at the product group level.
5. Ensure effective monitoring of overhead budget vs actuals and provide variance insights.
6. Generate monthly FAC standard vs actual reports for management review.
7. Prepare monthly material & overhead variance reports with key findings.
8. Provide segment-wise margin reports for financial decision-making.
9. Track and report monthly costing profit per segment for financial planning.

Skills & Competencies:

Strong analytical and cost accounting skills.

Expertise in costing methodologies, financial reporting, and variance analysis.

Proficiency in ERP systems and advanced Excel for data analysis.

Strong stakeholder management skills for internal & external coordination.

Attention to detail with a focus on cost efficiency and process optimization.

Ability to handle multiple projects, audits, and financial reconciliations.