About this role
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Job Purpose
To perform product costing, manufacturing cost accounting, inventory valuation, and cost analysis while supporting accurate financial reporting, cost control, and informed operational decision-making in accordance with company policies and accounting standards.
Key Accountability Areas
Product Costing & Manufacturing Cost Control:
- Own product costing activities for assigned manufacturing operations, ensuring the accuracy of standard costs, Bills of Materials (BOMs), routings, labor rates, and overhead allocations.
- Perform standard cost roll-ups and periodic cost reviews to ensure costing reflects current manufacturing conditions.
- Analyze actual manufacturing costs against standard costs and investigate cost variances.
- Review cost absorption, material usage, labor efficiency, scrap, rework, and production overheads to ensure accurate product costing.
- Support cost reduction initiatives by identifying opportunities to improve manufacturing efficiency and cost performance.
Inventory Accounting & Financial Reporting:
- Manage inventory valuation, work-in-progress (WIP), production order settlements, and manufacturing-related inventory accounting.
- Review material consumption, inventory movements, stock adjustments, and investigate abnormal inventory transactions.
- Support month-end and year-end closing activities related to manufacturing costs, inventory, cost centers, and production variances.
- Prepare manufacturing cost reports, inventory reconciliations, and financial analyses for management reporting.
- Ensure timely and accurate reporting of manufacturing financial results in accordance with company policies and accounting standards.
Cost Analysis, Budgeting & Performance Monitoring:
- Perform detailed variance analysis for material, labor, overhead, purchase price, scrap, rework, and production efficiency.
- Assist in the preparation of annual budgets, forecasts, and manufacturing cost plans.
- Monitor actual manufacturing costs against budgets and forecasts, highlighting financial risks and recommending corrective actions.
- Support profitability analysis, cost-saving initiatives, and operational performance improvement projects.
- Provide meaningful financial insights to support production planning, capacity utilization, and operational decision-making.
Manufacturing Finance Support & Business Partnering:
- Partner with production, warehouse, procurement, planning, engineering, and quality teams to improve cost visibility and operational performance.
- Provide financial analysis and costing support for new products, process improvements, and operational initiatives.
- Support management by explaining manufacturing cost movements, operational variances, and financial impacts.
- Collaborate with cross-functional teams to improve inventory accuracy, production reporting, and cost management practices.
- Contribute to continuous improvement initiatives aimed at enhancing manufacturing efficiency and financial performance.
Internal Controls, Compliance & Continuous Improvement:
- Ensure compliance with company policies, accounting standards, and internal controls related to manufacturing costing and inventory.
- Maintain accurate documentation for costing calculations, reconciliations, inventory adjustments, and financial analyses.
- Support internal and external audits, inventory counts, and cost audit requirements.
- Review and improve costing procedures, reconciliations, and financial reporting processes to strengthen operational controls.
- Identify opportunities to automate reporting, improve data accuracy, and enhance manufacturing finance processes through continuous improvement.
Role Accountability
HR Proficiency:
- Ability to obtain updated soft and technical skills related to the job.
Delivery:
- Perform the planned activities to meet the operational and development targets as per delivery schedules.
- Utilize resources effectively to achieve objectives within efficient cost and time.
- Provide a periodic report formatted by detailing the deviation and execution of planned tasks.
Problem-Solving:
- Solve any related problems arise and escalate any complex operational issues.
Quality:
- Ensure quality requirements to develop effective quality control and processes including specifications for products or processes or related activities.
Business Process Improvements:
- Coordinate well-defined written systems, policies, procedures, and seek automations opportunities as much as possible.
Compliance:
- Comply to related policy and procedures and work instructions.
Health, Safety, and Environment:
- Ensure compliance of relevant safety, quality, and environmental management procedures and controls within defined area of work activity to guarantee safety, legislative compliance, and delivery of high-quality products/services.
Academic Qualification
Bachelor Degree in Accounting and Finance or Any relevant field
## Work Experience
4 to 6 Years
## Technical / Functional Competencies
Financial Accounting (FI) Reconciliation Financial Reporting