Management Cost Accountant

SUMMARY:
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POSITION INFO:

1. Cost Accounting & Analysis

• Tracking direct and indirect costs (materials, labour, overhead).
• Calculating cost of goods manufactured (COGM) and cost of goods sold (COGS).
• Implementing standard costing and analysing variances (material, labour, overhead).
• Conducting profitability analysis by product, department, or customer.

2. Budgeting & Forecasting

• Preparing annual budgets and financial projections.
• Monitoring actual vs. budgeted performance and explaining variances.
• Assisting in capital expenditure planning for new machinery or expansions.

3. Inventory & Supply Chain Management

• Valuing raw materials, work-in-progress (WIP), and finished goods inventory.
• Implementing inventory control methods like FIFO, LIFO, or weighted average.
• Collaborating with procurement to optimize material usage and supplier contracts.

4. Financial Reporting & Compliance

• Generating management reports (profitability, cost trends, efficiency metrics).
• Ensuring compliance with financial reporting standards and tax regulations.
• Supporting audits by providing accurate costing and financial data.

5. Operational Performance Monitoring

• Developing KPIs for production efficiency, scrap rates, and machine utilization.
• Analysing the financial impact of downtime, waste, and production bottlenecks.
• Supporting lean manufacturing and continuous improvement initiatives.

6. ERP & Systems Integration

• Assisting in ERP system implementation and ensuring accurate cost tracking.
• Developing real-time dashboards for financial and operational insights.
• Automating reports to improve decision-making efficiency.

7. Decision Support & Strategic Planning

• Performing break-even analysis and pricing strategy evaluations.
• Supporting make-or-buy decisions for outsourcing vs. in-house production.
• Advising on financial feasibility of new product lines or expansions.

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