Cost Accountant

Job Description

Job Description(Cost Accountant)Qualifications:CMA or ICWAExperience:04- 06 Years (Especially from Manufacturing Industry German or European Industries) cost accounting within a manufacturing environment.ESSENTIAL DUTIES AND RESPONSIBILITIESOther duties may be assigned .Responsibilities/Duties/Skills Include

• Maintain and ensure accuracy of the Standard Costing System.
• Analyze Material, Labor and Overhead variances and determine root cause of the variances
• Analyze Purchase Price Variances.
• Review all inventory related transactions for errors and insure proper impact on both the G/L and perpetual records.
• Calculate and rollup standard material, labor and overhead rates per company policy.
• Perform monthly accounting close process including journal entries
• Prepare timely and accurate monthly reporting to management
• Reconcile all inventory related balance sheet accounts on a monthly basis.
• Calculate and maintain appropriate reserves for excess/obsolete inventory.
• Monitor and provide support to the companys cycle count program, including reporting and root cause analysis
• Lead annual physical inventory process and related reconciliation.
• Provide inputs into the companys forecasting and budgeting processes.
• Support new product development with project projections, BOM and router development
• Work closely with operations team on a daily basis
• Other Adhoc requests/projects as needed

JOB SPECIFIC COMPETENCIES

• Analysis, Risk-aware, Internal Controls, Reconciliation, Multi-tasking, High Degree of integrity and confidentiality.

SKILLS & ABILITIES

• Highly analytical
• Strong interpersonal skills
• Hands on approach
• Excellent verbal and written communications skills
• Can-do attitude
• Strong work ethic
• Attention to detail
• Ability to multi task
• Ability to meet deadlines
• Collaborative team player

TASKS

• Implementation of Costing & Financial A/c System.
• Cost Control & Cost reduction.
• Budget Preparation & Cost Forecasting.
• Product Profitability/Contribution.
• Product Costing.
• Month End Closing in BAAN.
• Variances Analysis & Reporting with comments.
• Internal Controls.
• MIS on Sales.
• CAPEX/CWIP Accounting & Reporting.
• Inventory Valuation.
• Maintenance of Cost Records.
• Daily Product Contribution reporting based on Sale,
• Production Order Analysis (Sold Batches),
• Consumption reporting (Budget RMC Vs Actual RMC),
• Daily Sales MIS,
• Daily Sales, Raw Material & Contribution variance reporting with comments,
• Implementation of Costing & Financial A/c system :
• Core Team Member in BAAN Implementation.
• Implemented Activity Based Costing System & Financial Accounting System,
• Budget Preparation and Cost forecasting:
• Material Consumption/ Material (RM & PM) Budget.
• Plant Budget:
• Utility Budget. (Electricity, FO, Water)
• Wages Budget,
• Repairs & Maintenance Budget,
• Consumable Budget,
• Waste Disposal Budget,
• Job work Budget,
• EHS Budget, (Employee Health & Safety)
• Fixed Cost Budget,
• Byproduct/Scrape (Other Income Budget),
• Budgetd Contribution & EBIT,
• Budgeted activitiy rate calculation & updation of same in BAAN.
• Costing Run.
• Month end closing in BAAN:
• Monthly Accuruals/Provision,
• Trial Balance Scrutiny,
• Cost Center Reclass Entries,
• Monthly physical stock take.
• Inventory cycle in & out adjustment (Cycle Count adjustment)
• WIP Run in BAAN,
• Overheads (Under/Over) absorption reporting.
• Activity Rates Calculation,
• Monthly Costing Run
• Montly MIS on (Energy, FO, Job Work, By-Product, Co-Product, Waste Cost, Enviromental Cost). Monthly other MIS Report,
• Departmental Expenditure Budget Vs Actual (OPEX Reporting),
• Clossing Stock Reporting,
• Slow moving inventory reporting.
• Non moving inventory reporting (Inventory ageing).
• CapEx : Capital Expenditure:
• Investment order creation based on request,
• CapEx & OpEx Status reporting on monthly Basis,
• Asset Creation (Asset Taging)
• For Product Costing & Cost Controlling.
• Material Costing / BOM Costing,
• Machine Costing /Calculation of Machine Hour Rate (HMR),
• Cycle Time Study/Time & Motion Study at each work step [Consideration of RPM of Machines [Time required for each parts at respective work steps with allowance time]
• Labour Costing / Determination of labour Hourly Rate(HLR),
• Overheads Costing / Determination of Overheads Absorption Rates,
• Tool Costing / Determination of Mould Amortization Cost to each shot/ part,
• Out-Sourcing Costing / Determination of cost rates for Sub-contractor/Job Work,
• Product Costing / Cost Calculation for Products
• MIS on Power/Energy [KWH/KVAH & RKVAH] & Energy inflation reporting
• Maintenance of Fixed Asset Register,
• Quality Cost Calculation & Reporting,
• Provide the Inputs for BUSINESS PLAN,
• Support to Management for Investment & Machine Replacement Decision,
• Benchmark the processes & its Cost in new Product Costing

COMPUTER SKILLS

• Experience working with MRP systems
• BAAN experience will be highly appreciated as a plus point
• Expertise of working on Tally, Excel essential

Keyskills :
budgeting rialbalance balancesheet fixedassetregister varianceanalysis motionstudy activitybasedcosting costaccounting costcontrol