1. Cost Analysis & Reporting:
- Maintain the company's cost accounting system and databases.
- Perform variance analysis by comparing actual costs to standard or budgeted costs and investigating discrepancies.
- Prepare cost sheets and determine the product costing.
- Perform batch costing and process costing for different products.
- Prepare monthly, quarterly, and annual cost reports for management.
- Conduct cost analysis for current products, trail runs and projects.
2. Budgeting & Forecasting:
- Assist in preparing detailed department-wise budgets and financial forecasts.
- Analyse product margins and provide cost-based data to support management in strategic pricing decisions.
- Perform variance analysis to compare actual performance with budgeted figures and provide corrective actions.
and track and record the cost of raw materials, packing materials, work-in-progress, and finished goods.
- Ensure accurate recording of inventory movements (issuances, receipts, adjustments).
- Work closely with the procurement and warehouse teams to ensure proper inventory control and cost management.
4. Process Improvement & Compliance:
- Identify wasteful spending and recommend changes to internal processes to improve efficiency.
- Ensure all cost accounting activities comply with Generally Accepted Accounting Principles (GAAP) and local regulatory standards.
Support internal and external audits by providing accurate cost data and documentation.