Cost Accountant

Job Description: Cost Accountant

Position Title: Cost Accountant

Location: Visakhapatnam

Reports To: Finance Manager

Job Summary

The Cost Accountant will be a strategic finance partner to the plant leadership, responsible for end-to-end cost management, advanced cost modelling, and driving margin improvement initiatives. This role demands strong expertise in cost control, financial planning, and performance analysis within a manufacturing environment. The ideal candidate will bring in-depth industry experience and will play a critical role in improving cost efficiency and overall financial health of the plant.

Key Responsibilities

• Lead the plant's cost accounting function, including design and implementation of robust cost control systems.
• Develop and manage detailed product costing, activity-based costing models, and process-wise profitability analysis.
• Provide deep insights on cost trends, production efficiency, and inventory usage to support strategic decision-making.
• Analyze standard vs actual costs and proactively address variances through root cause investigation and corrective actions.
• Conduct plant-wide cost audits and coordinate with production, procurement, and supply chain teams for financial alignment.
• Drive initiatives in waste reduction, process improvement, and cost optimization at both micro and macro levels.
• Oversee inventory valuation, stock audits, and reconciliation of raw materials, WIP, and finished goods.
• Collaborate with the Finance Head and Plant Director for capital expenditure planning and cost-benefit analysis.
• Ensure compliance with Cost Accounting Standards, internal controls, and regulatory reporting requirements.
• Prepare high-level MIS reports, dashboards, and executive summaries for senior management and board-level reviews.

Qualifications

• CMA (Cost & Management Accountant) qualified; additional MBA in Finance or CA Inter is an advantage.
• 8-10 years of progressive experience in cost accounting, with at least 3 years in a senior role in a manufacturing plant.
• Proven track record in implementing cost optimization strategies and improving profitability.
• Strong command of ERP systems (e.g., SAP, Oracle) and advanced Excel/Power BI for analytics.
• In-depth understanding of cost structures, production processes, and inventory management in industrial environments.
• Excellent communication, leadership, and cross-functional collaboration skills.