Employment Type: Full-time

Job Summary

- We are seeking a seasoned and analytical Cost Accountant with 5-7 years of experience to lead the organization's cost accounting function.

- This role is pivotal in establishing accurate product costing, implementing robust inventory control measures, conducting deep-dive variance analysis, and driving cost-saving initiatives to optimize profitability and support strategic pricing decisions.

- The candidate must possess expert knowledge of costing methodologies and enterprise resource planning (ERP) systems.

Key Responsibilities and Technical Focus:

Cost Analysis and Variance Reporting:

- Design, implement, and maintain advanced costing systems (standard costing, activity-based costing - ABC) across all manufacturing and operational processes.

- Conduct rigorous analysis of production cost variances (material, labor, overhead) against established standards and historical data, providing actionable reports to operations management detailing root causes.

- Prepare detailed cost reports, profitability analyses by product line/SKU, and accurate cost forecasts to inform strategic planning and support make-or-buy decisions.

Inventory Management and Control:

- Accurately track and analyze the movement and valuation of inventory, including raw materials, work-in-progress (WIP), and finished goods, ensuring compliance with relevant accounting standards (, perpetual vs.periodic systems).

- Perform and reconcile physical inventory counts and cycle counts, investigating discrepancies and implementing technical inventory control measures within the ERP system to minimize waste and optimize stock carrying costs.

- Calculate and analyze inventory obsolescence reserves and adjustments, ensuring inventory is valued accurately on the balance sheet.

Budgeting and Financial Reporting:

- Lead the development of the detailed annual cost budget, including forecasting overhead allocations, direct material costs, and direct labor rates in alignment with organizational production targets.

- Monitor budget performance in real-time and provide granular budget vs actual variance reports, offering insights for corrective actions to department heads.

- Prepare specific monthly, quarterly, and annual financial reports detailing Cost of Goods Sold (COGS), gross margins, and operational profitability for management review.

- Collaborate closely with the Financial Accounting team during the month-end closing process to ensure the accuracy and timely reconciliation of all cost-related general ledger accounts.

Collaboration and Process Improvement:

- Partner with Production and Engineering teams to establish Bill of Materials (BOM) accuracy, process routing efficiencies, and standard labor times used in the costing calculations.

- Proactively identify and recommend technical cost-saving initiatives (supply chain optimization, waste reduction) and quantify their financial impact through detailed cost-benefit analyses and ROI projections for new CapEx projects.

- Conduct structured training for operational and procurement staff on correct cost capture procedures and expense management best practices within the ERP system.

Compliance and Auditing:

- Ensure strict adherence to internal cost control policies, financial regulations ( IFRS/GAAP), and relevant tax requirements related to inventory valuation and COGS.

- Coordinate and assist in internal and external financial audits, providing detailed documentation, explanations, and reconciliations for all cost components and inventory balances.

Preferred Skills:

- Certification such as CMA (Certified Management Accountant) or active pursuit of CPA/CA is highly valued.

- Expert-level proficiency in module administration and configuration of a major ERP system (SAP CO/PP, Oracle EBS Costing, Microsoft Dynamics 365).

- Advanced technical ability in data extraction, manipulation, and analysis using SQL, data visualization tools ( Power BI, Tableau), and advanced Excel functions (Power Query, VBA).

- Proven experience in a high-volume manufacturing, retail, or logistics environment where complex inventory and standard costing systems were actively managed.

- Deep understanding of Lean Manufacturing or Six Sigma principles and their application in driving measurable cost efficiencies