1. Cost Accounting & Analysis
-Develop and maintain cost accounting systems to accurately capture production costs, labor, and overhead.
-Analyze product costs, material usage variances, and manufacturing overhead expenses to identify cost-saving opportunities.
-Ensure accurate standard costing and update costs as needed.
2. Inventory & Cost Control
-Oversee and analyze inventory valuation, reconciliation, and variances between physical and system records.
-Ensure proper tracking of raw materials, work-in-progress (WIP), and finished goods in the accounting system.
-Collaborate with the production and procurement teams to optimize cost efficiency in inventory management.
3. Financial Reporting & Compliance
-Prepare monthly, quarterly, and annual cost reports for senior management.
-Assist in external and internal audits by providing accurate cost data and documentation.
4. Budgeting & Forecasting
-Support annual budgeting and forecasting processes by providing cost estimates and analysis.
-Work with finance and operations teams to set cost control measures and financial targets.
-Monitor and report on cost performance vs. budget, highlighting key variances and potential improvements.
5. Process Improvement & Systems Optimization
-Identify inefficiencies in cost accounting processes and implement improvements.
-Work with IT and ERP teams to ensure accurate cost accounting integration within the ERP system.
-Develop internal controls to prevent cost misallocations and discrepancies.
6. Leadership & Team Collaboration
-Supervise and mentor cost accountants and analysts in the department.
-Work closely with production, procurement, and finance teams to improve cost efficiency and reporting accuracy.
-Provide cost-related insights to support strategic business decisions.