Cost Accountant
3 days ago
Role Overview:
The Cost Accountant will be responsible for managing all aspects of cost accounting, providing detailed cost analysis, and supporting the financial team in driving profitability and operational efficiency. You will play a critical role in controlling and optimizing costs, ensuring accurate product costing, and reporting to management on cost performance.
Key Responsibilities:
- Costing & Variance Analysis: Perform detailed costing for products and manufacturing processes, including standard and actual costs. Analyse and report on variances (material, labour, overhead), identifying areas for cost reduction.
- Budgeting & Forecasting: Assist in the preparation of cost budgets and forecasts, providing insights into future cost trends and contributing to strategic decision-making.
- Cost Control: Monitor and control production costs, ensuring adherence to budgets and identifying cost-saving opportunities.
- Inventory Management: Oversee inventory costing, work-in-progress (WIP) valuations, and ensure proper accounting for raw materials, finished goods, and spare parts.
- Profitability Analysis: Perform profitability analysis on product lines, projects, and clients, ensuring the business makes data-driven decisions to enhance profitability.
- Month-End Reporting: Prepare and review month-end cost accounting reports, including cost of goods sold (COGS), margin analysis, and reconciliation of costing ledgers.
- Cost Accounting Systems: Maintain and improve cost accounting systems to provide accurate and timely cost data. Ensure all financial systems align with company policies and industry standards.
- Operational Support: Collaborate with operations, procurement, and supply chain teams to understand cost drivers and recommend cost-efficient improvements.
- Compliance: Ensure compliance with internal controls and audit requirements, aligning with both local and international financial standards.
Requirements:
- BCom Degree in Accounting, Finance, or related field.
- CIMA certification (or in progress) is essential.
- Proven experience in cost accounting, preferably in a manufacturing environment.
- Strong understanding of costing methodologies (standard and actual costing).
- Driven, results-oriented, and highly motivated individual with excellent analytical skills.
- Ability to work under pressure and meet tight deadlines.
- Proficiency in ERP systems (e.g., SAP, Oracle) and advanced Excel skills.
- Excellent communication and interpersonal skills to work effectively with cross-functional teams.
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