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DM-Costing

Finance
Navi Mumbai (On-Site)
Executive, Associate

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Job Description

For the Role of Cost Accountant

 

We are seeking a highly skilled and experienced Cost and Management Accountant to join our manufacturing company in India. As a Cost and Management Accountant, you will be responsible for analyzing and managing the financial aspects of our operations, ensuring efficient cost control, and providing valuable insights for decision-making. The ideal candidate should have a minimum of 3-5 years of experience in a similar role within the manufacturing industry.

Key Responsibilities:


  • Cost Analysis and Reporting:
  • Conduct regular cost analysis and prepare detailed reports to identify cost-saving opportunities and improve profitability.
  • Analyze product costs, including material, labor, and overhead, and provide accurate cost estimates for new products or process changes.
  • Monitor and report on cost variances, investigating any significant deviations and recommending corrective actions.


  • Budgeting and Forecasting:
  • Assist in the development and implementation of annual budgets and forecasts for the manufacturing operations.
  • Monitor actual financial performance against budgets, identifying and explaining variances.
  • Provide inputs and support in developing financial projections for strategic initiatives, capital expenditure projects, and cost optimization programs.


  • Inventory Management:
  • Develop and implement effective inventory management procedures, ensuring accurate valuation, proper controls, and optimum stock levels.
  • Perform regular inventory reconciliations and review stock aging reports to identify slow-moving or obsolete inventory and propose corrective actions.
  • Collaborate with procurement and production teams to optimize inventory turnover, reduce carrying costs, and improve working capital utilization.
  • Implementation of Marginal & Standard Costing, understanding of the BOM costing.


  • Cost Control and Process Improvement:
  • Identify areas of cost improvement and operational efficiency enhancement within the manufacturing processes.
  • Work closely with cross-functional teams to implement cost control measures and process improvements, ensuring adherence to standard operating procedures (SOPs) and best practices.
  • Conduct regular reviews of manufacturing processes and cost drivers, making recommendations for cost reduction initiatives and performance optimization.


  • Financial Analysis and Decision Support:
  • Provide financial analysis and decision support to management, including evaluating investment opportunities, pricing decisions, and make-vs-buy analyses.
  • Collaborate with other departments to develop and analyze key performance indicators (KPIs) and metrics to assess the company''''s financial health and operational effectiveness.
  • Prepare ad-hoc financial reports and presentations to support strategic initiatives and facilitate data-driven decision-making.


Qualifications and Experience:

  • Bachelor''''s degree in Commerce, Finance, Accounting, or a related field.
  • Certified Cost and Management Accountant (CMA) qualification from the Institute of Cost Accountants of India (ICMAI).
  • Minimum 3-5 years of relevant experience in cost accounting, management accounting, or financial analysis within the manufacturing industry.
  • Sound knowledge of Indian accounting standards, cost accounting principles, and relevant taxation regulations.
  • Proficiency in using SAP or equivalent ERP accounting & Manufacturing module in the software and advanced knowledge of MS Excel for analysis and reporting.
  • Strong analytical and problem-solving skills, with the ability to interpret complex financial data and present actionable insights.
  • Excellent communication and interpersonal skills to collaborate effectively with cross-functional teams and present financial information to non-financial stakeholders.
  • Attention to detail, with a focus on accuracy and precision in financial analysis and reporting.
  • Ability to work independently, prioritize tasks, and meet deadlines in a fast-paced manufacturing environment.


Skills

Margin Analysis
Cost Accounting Standards
Cost Analysis
Costings
Standard Costs
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