Cost Accountant

Role & responsibilities

Cost Analysis & Reporting:

• Analyze cost structures related to raw materials, production, labor, and overhead for accurate cost allocation.

• Maintain and update costing models to reflect actual production costs.

• Prepare cost variance reports (budgeted vs. actual costs) and recommend corrective actions.

• Monitor and control manufacturing expenses to improve profitability.

• Ensure accurate cost classification and financial reporting in line with accounting standards. Inventory & Material Costing:

• Evaluate raw material, WIP (Work-in-Progress), and finished goods inventory costs.

• Implement standard costing methods and ensure periodic adjustments based on actual expenses.

• Work closely with the procurement team to track material pricing fluctuations and cost impact.

• Conduct stock reconciliations and monitor inventory valuation accuracy. Budgeting & Forecasting:

• Assist in the preparation of annual budgets, financial forecasts, and production cost estimates.

• Collaborate with the finance and operations teams to set cost targets and control measures.

• Provide insights into cost-saving opportunities and process efficiency improvements.

• Support capital expenditure (CAPEX) planning and cost-benefit analysis for new investments. Process Optimization & Cost Control:

• Identify cost reduction opportunities across production, logistics, and supply chain operations. • Support lean manufacturing initiatives by analyzing waste reduction and efficiency improvement strategies.

• Ensure accurate tracking of machine utilization, labor efficiency, and overhead absorption rates.

• Conduct regular cost audits to identify inefficiencies and recommend corrective actions. Compliance & Financial Accuracy:

• Ensure compliance with cost accounting standards, financial policies, and audit requirements.

• Maintain accurate financial records and support internal and external audits.

• Work closely with finance teams to ensure proper allocation of direct and indirect costs.

• Performing other accounting duties and supporting junior staff as required or assigned

• Handle ad-hoc HR tasks as instructed by HODs.

Preferred candidate profile