Job Purpose:
Responsible for analyzing industrial costs, preparing cost reports, and ensuring the accuracy of production and cost data to provide insights that support decision-making and improve financial and operational efficiency.
Duties and Responsibilities:
- Cost Calculation & Analysis:
- Analyze raw material, labor, and overhead costs.
- Monitor actual costs and compare them with standard costs.
- Calculate direct and indirect costs for each product or production process.
- Financial Reporting:
- Prepare periodic cost and production reports and variance analysis.
- Provide financial and management reports to support decision-making.
- Analyze cost deviations and recommend corrective actions.
- Financial & Production Data Analysis:
- Assess operational efficiency and its impact on costs.
- Evaluate and update standard costs periodically.
- Analyze the effects of price and cost changes on profitability.
- Inventory Control:
- Monitor inventory levels and ensure accurate financial valuation.
- Conduct inventory counts, analyze discrepancies, and prepare necessary reports.
- Track raw material costs and suggest cost-control measures.
- Compliance with Accounting Standards:
- Ensure adherence to financial and cost accounting standards.
- Collaborate with internal and external auditors to verify accounting accuracy.
- Assist in preparing annual budgets and financial forecasts.
Qualifications and Experience:
- Bachelor’s degree in Accounting, Finance, or a related field.
- Minimum of 4 years of experience in cost or industrial accounting.
- Strong knowledge of accounting principles, financial systems, and cost structures.
- Proficiency in accounting software such as SAP, Oracle, or any ERP system.
- Strong analytical skills and ability to interpret financial data.
- Proficiency in Microsoft Office, especially Excel.
- Ability to work in a team and handle work pressure.