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Assistant Manager - Costing

Employer
IdeaForge
Location
Navi Mumbai Navi Mumbai Maharashtra, Maharashtra, India
Salary
Competitive Salary
Closing date
May 22, 2024

View more

Job Role
Accounts Assistant
Sector
Finance
Contract Type
Permanent
Hours
Full Time
For the Role of Cost Accountant

We are seeking a highly skilled and experienced Cost and Management Accountant to join our manufacturing company in India. As a Cost and Management Accountant, you will be responsible for analyzing and managing the financial aspects of our operations, ensuring efficient cost control, and providing valuable insights for decision-making. The ideal candidate should have a minimum of 3-5 years of experience in a similar role within the manufacturing industry.

Key

Responsibilities:


  • Cost Analysis and Reporting:
  • Conduct regular cost analysis and prepare detailed reports to identify cost-saving opportunities and improve profitability.
  • Analyze product costs, including material, labor, and overhead, and provide accurate cost estimates for new products or process changes.
  • Monitor and report on cost variances, investigating any significant deviations and recommending corrective actions.


  • Budgeting and Forecasting:
  • Assist in the development and implementation of annual budgets and forecasts for the manufacturing operations.
  • Monitor actual financial performance against budgets, identifying and explaining variances.
  • Provide inputs and support in developing financial projections for strategic initiatives, capital expenditure projects, and cost optimization programs.


  • Inventory Management:
  • Develop and implement effective inventory management procedures, ensuring accurate valuation, proper controls, and optimum stock levels.
  • Perform regular inventory reconciliations and review stock aging reports to identify slow-moving or obsolete inventory and propose corrective actions.
  • Collaborate with procurement and production teams to optimize inventory turnover, reduce carrying costs, and improve working capital utilization.
  • Implementation of Marginal & Standard Costing, understanding of the BOM costing.


  • Cost Control and Process Improvement:
  • Identify areas of cost improvement and operational efficiency enhancement within the manufacturing processes.
  • Work closely with cross-functional teams to implement cost control measures and process improvements, ensuring adherence to standard operating procedures (SOPs) and best practices.
  • Conduct regular reviews of manufacturing processes and cost drivers, making recommendations for cost reduction initiatives and performance optimization.


  • Financial Analysis and Decision Support:
  • Provide financial analysis and decision support to management, including evaluating investment opportunities, pricing decisions, and make-vs-buy analyses.
  • Collaborate with other departments to develop and analyze key performance indicators (KPIs) and metrics to assess the company''s financial health and operational effectiveness.
  • Prepare ad-hoc financial reports and presentations to support strategic initiatives and facilitate data-driven decision-making.


Qualifications and Experience:
  • Bachelor''s degree in Commerce, Finance, Accounting, or a related field.
  • Certified Cost and Management Accountant (CMA) qualification from the Institute of Cost Accountants of India (ICMAI).
  • Minimum 3-5 years of relevant experience in cost accounting, management accounting, or financial analysis within the manufacturing industry.
  • Sound knowledge of Indian accounting standards, cost accounting principles, and relevant taxation regulations.
  • Proficiency in using SAP or equivalent ERP accounting & Manufacturing module in the software and advanced knowledge of MS Excel for analysis and reporting.
  • Strong analytical and problem-solving skills, with the ability to interpret complex financial data and present actionable insights.
  • Excellent communication and interpersonal skills to collaborate effectively with cross-functional teams and present financial information to non-financial stakeholders.
  • Attention to detail, with a focus on accuracy and precision in financial analysis and reporting.
  • Ability to work independently, prioritize tasks, and meet deadlines in a fast-paced manufacturing environment.


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