ROLES & RESPONSIBILITIES
Cost Accounting Responsibilities:
- Maintain and update standard cost structures for products and materials.
- Analyse manufacturing and operational costs, identifying variances and recommending corrective actions.
- Prepare detailed cost reports for management, including margin analysis, overhead allocation, and cost trends.
- Support internal and external audits with cost-related documentation.
- Implement cost-saving initiatives by working closely with production and supply chain teams.
Inventory Valuation Responsibilities:
- Perform monthly, quarterly, and annual inventory valuations in accordance with accounting standards.
- Review and reconcile inventory balances between physical stock, warehouse records, and ERP systems.
- Monitor inventory movements, including issues, transfers, adjustments, and scrap.
- Ensure accurate valuation methods (FIFO, weighted average, standard cost) are applied consistently.
- Investigate inventory discrepancies and coordinate corrective actions with warehouse and production.
- Analyse slow-moving, obsolete, or excess inventory and prepare aging reports.
- Prepare inventory-related journal entries and support month-end closing.
Key Skills & Competencies:
- Strong understanding of cost accounting principles and practices.
- Proficiency in ERP systems such as SAP.
- Advanced Excel skills (pivot tables, lookups, power query preferred).
- Strong analytical and problem-solving abilities.
- Knowledge of inventory management and valuation methodologies.
- Accuracy, attention to detail, and strong control mentality.
- Ability to communicate cost insights to non-finance stakeholders.
Qualifications & Experience:
- Bachelor's degree in Accounting, Finance, or related field.
- Professional certification CMA (Qualified / Semi Qualified)
- 45 years of experience in cost accounting, preferably within manufacturing or supply chain environments.
- Experience with inventory accounting or cost analysis is required.
