Costing Accountant

About the Role
This position exists to oversee and analyze cost expenditures and purchases efficiently, ensuring timely execution and quality standards as per the defined policies and procedures. The aim is to achieve departmental operational plans and developments within a wider scope.

Functional Responsibilities
Actual Costing:

• Monthly coordination with production to finalize all actual activities and close orders.
• Monthly checking of all actual data posted by production and making required adjustments.
• Monthly processing of period-end closing and posting (WIP, Variances, Un-realized costs, etc.).
• Monthly posting of all costing entries and provisions.
• Monthly checking and analyzing the results of period-end closing.
• Monthly checking expenses and making adjustments if required.
• Monthly settlement for investment internal orders to AUC and Cost centers.
• Design and update distribution cycle to allocate service and general cost center costs.
• General problem solving for costing issues, supervising, and supporting as needed.

Standard Costing:

• Preparing planned costing data with agreed plant activity.
• Entering standard cost and standard plant activity in the system and calculating the rate.
• Maintaining and updating activities rate for production work centers.
• Regularly checking and adjusting materials master.
• Regularly checking master data (BOM & Routing) and informing planning to make required adjustments.
• Running material costing to calculate planned cost.
• Maintaining production orders overhead percentage.
• Uploading overhead costs to production orders based on that maintained percentage.
• Regularly analyzing costs for items and coordinating with planning for any necessary corrections.
• Regularly releasing the cost for related items.

Costing & Controlling Analysis:

• Analyzing WIP and providing justification for major orders.
• Analyzing un-realized costs and providing justification for major orders.
• Identifying and analyzing production, purchasing, and inventory variances.
• Controlling actual time posted by comparing with routing and making proper reporting to management.
• Preparing master consumption report with proper adjustments.
• Controlling actual consumption and monitoring irregularities in material costs, reporting to management.

Monthly Controlling ORM & Financial Reports:

• Monthly preparation of consumption and production masters.
• Monthly preparation of costing statements per product type.
• Preparing special costing reports.
• Monitoring actual vs. budget and standard costing reports and variance analysis.
• Preparing best estimation costing reports.

General Responsibilities
HR Proficiency:

• Ability to obtain updated soft and technical skills related to the job.
• Develop a vision and plan for career path and how to achieve it.

Delivery:

• Perform planned activities to meet operational and development targets as per delivery schedules.
• Utilize resources effectively to achieve objectives within efficient cost and time.
• Provide periodic reports detailing deviations and execution of planned tasks.

Problem-Solving:

• Solve any related problems that arise and escalate complex operational issues.

Quality:

• Ensure quality requirements to develop effective quality control processes, including specifications for products or processes or related activities.

Business Process Improvements:

• Coordinate well-defined written systems, policies, procedures, and seek automation opportunities wherever possible.

Compliance:

• Comply with related policies and procedures and work instructions.

Health, Safety, and Environment:

• Ensure compliance with relevant safety, quality, and environmental management procedures and controls to guarantee safety, legislative compliance, and delivery of high-quality products and services.

Qualification

• Bachelor’s degree in Accounting and Finance.

Experience

• 4 to 6 years.

Skills

• Cost Accounting
• Cost Accounting Best Practices
• Cost Accounting Systems
• Cost Analysis
• Industrial Cost Analysis