The Cost Accountant is responsible for performing a variety of cost-related activities, including managing materials and production costs, overhead, and product development expenses.
The role involves detailed analysis of manufacturing costs, preparing cost reports, and identifying opportunities for cost savings and improvements.
The Cost Accountant will also be involved in internal audits, inventory management, and providing management with financial analysis and recommendations to improve profitability and operational efficiency.
KEY RESPONSIBILITIES
Cost Analysis & Reporting:
Analyze and recommend cost-saving strategies across materials, production processes, and overhead costs.
Prepare regular reports comparing standard costs to actual production costs to ensure accurate cost tracking.
Formulate and implement cost control measures to minimize wastage in the production process.
Provide detailed analysis and recommendations based on cost patterns, operational expenses, and financial performance.
Internal Cost Audit & Records:
Prepare and complete internal cost audits, ensuring compliance with accounting standards.
Log and maintain detailed records of cost data collected from various departments and operations.
Inventory Management:
Conduct physical inventories, monitor inventory movements, and track changes in materials, finished goods, and work-in-progress.
Support inventory reconciliation processes and ensure inventory levels are maintained efficiently.
Formulate and implement cost control measures to optimize the usage of materials, labor, and overhead resources.
Work closely with production teams to identify cost-saving opportunities and improve operational efficiency.
Financial Analysis & Recommendations:
Provide management with comprehensive reports specifying factors affecting product or service prices and profitability.
Offer cost-based recommendations to help guide pricing strategies, product development, and financial decisions.
Support management with ad hoc financial analysis and reports related to costing and profitability.
Communicate cost analysis findings to other departments and upper management.
Collaborate with production and other teams to align cost control strategies with organizational goals.
REQUIREMENTS:
Education : Bachelor's degree in Accounting, Finance, or a related field.
Professional certifications such asCIMA ,ACCA , orCPAare an advantage.
Experience : Minimum of 5 years of experience in cost accounting, financial analysis, or a related field.
Work Schedule : Able to work 5.5 days.
Skills :Strong analytical skills and attention to detail.
Ability to communicate complex financial information to non-financial stakeholders.
Knowledge :Solid understanding of cost accounting principles, inventory management, and financial reporting.
Familiarity with manufacturing processes and cost optimization strategies.
Attributes :Strong problem-solving abilities.
Proactive in identifying cost-saving opportunities.
Effective at working cross-functionally and influencing decisions.#J-18808-Ljbffr