Cost Manager - Manufacturing/Production Firm - CA/ICWA

Key Responsibilities:

Cost Management & Analysis:

- Oversee the cost accounting function to ensure accurate calculation of product costs, manufacturing overheads, and cost of goods sold (COGS).

- Perform detailed cost variance analysis, identify cost reduction opportunities, and provide recommendations to management for process improvements.

- Develop and maintain standard costing systems, ensuring accuracy in cost allocation for materials, labor, and overheads.

Budgeting & Forecasting:

- Prepare comprehensive cost budgets, ensuring they align with the companys financial goals and strategic objectives.

- Regularly update and forecast costs based on business dynamics, collaborating with key departments for timely inputs.

- Monitor expenditure against budgeted figures and take corrective action where necessary.

Cost Reporting:

- Provide regular and detailed costing reports, including standard Vs Actual variance analysis and insights on cost trends.

- Present findings to senior management, highlighting key cost drivers and offering actionable recommendations for improvement.

Inventory Management:

- Ensure accurate inventory valuation for raw materials, work-in-progress (WIP), and finished goods using appropriate costing methods.

- Implement robust processes to minimize inventory obsolescence, improve inventory turnover, and ensure accurate inventory records.

- Perform inventory revaluation.

Internal Controls & Compliance:

- Assist with internal and external audits by providing accurate and comprehensive costing and inventory data.

Process Improvement:

- Continuously assess costing methods and accounting processes to identify and implement improvements for enhanced efficiency and accuracy.

- Develop and integrate new systems or tools for better cost tracking, data analysis, and reporting.

Cross-Functional Collaboration:

- Collaborate with production, procurement, and supply chain teams to gather relevant data for cost tracking and forecasting.

- Provide cost insights for pricing decisions, product profitability analysis, and overall business strategie.

Qualifications & Requirements:

Education:

- CA.

Experience:

- Minimum 8-10 years of experience in cost accounting, costing management, or financial analysis in a manufacturing or production environment.

- Proven expertise in managing costing systems, preparing budgets, performing variance analysis, and generating detailed cost reports.

- Experience in using ERP systems such as SAP, Oracle, or similar financial management software is highly desirable.

Skills:

- Strong knowledge of SAP environment.

- Cost accounting principles, financial regulations, and reporting.

- Advanced proficiency in Microsoft Excel, including macros.

- Strong analytical and problem-solving abilities.

- Ability to communicate complex financial data clearly to non-financial stakeholders.

- Excellent organizational, time-management, and multi-tasking skills.

Personal Attributes:

- High attention to detail and accuracy.

- Strong communication, interpersonal, and leadership skills.

- Ability to work independently and as part of a collaborative team in a fast-paced environment.

- Proactive and results-driven with a commitment to continuous improvement.