Job Description
- Develop and maintain a cost accounting system that ensures accurate costing.
- Plan, study, and collect data to determine direct & indirect costs of business activities, cost drivers, cost pools such as raw materials (foreign & local), finished products, purchasing invoices, shipping documents, inventory stock, labor cost per product, overhead rate per
product, and other operations. - Set standard costs of manufactured goods, review and analyze standard versus actual costs to report any variances that might arise.
- Ensure that the Bill Of Materials for each product is are same as standard and then approve the release of raw materials for each job order.
- Determine the Cost of Goods Sold per Product, Project & Sales Order and prepare a comparison of revenue versus cost.
- Prepare costing reports & then monthly closing with the reconciliation entries.
- Manage the local inventory system by processing changes in prices and changes in seasonal transactions.
- Manage and maintain the updated balance and database with materials and products inventory, including stock profiles and stock locations.
- Administer the cost of importing plans and compare it with actual results to identify, explain, and highlight variances as appropriate.
- Liaise with warehouse staff and other internal teams to ensure the product’s status upon delivery and storage conditions.
- Maintain stock analysis reports for warehouses.
- Produce weekly reports to ensure key critical areas of the stock system are controlled and any discrepancies are addressed and resolved.
- Generate regular reports and analyses on inventory performance, including stock turnover rates, carrying costs, and obsolete inventory provisions, and provide insights and recommendations to management.
Job Requirements
- Bachelor’s Degree in Accounting, Finance, or a related field.
- Proven work experience as a Cost Accountant, Cost Analyst, Accountant, or similar role in a manufacturing or production environment, and having industrial costing experience is a must.
- Strong analytical skills with the ability to interpret complex financial data and perform cost analysis.
- In-depth understanding of Generally Accepted Accounting Principles (GAAP)
- Computer literacy, MS Excel in particular (familiarity with VLOOKUPs and pivot tables)
- Excellent analytical skills with an attention to detail
- Strong time management skills
- Integrity, with an ability to handle confidential information
- Experience in dealing with ERP accounting systems is a must.
- Ability to meet deadlines