Job Description

About Company

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The company operates in the advanced electronics manufacturing industry, specializing in high-performance connectivity solutions for data transmission and communication systems.

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Job Description

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Position Overview

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We are seeking an experienced Inventory & Cost Accountant to support finance and plant operations

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within a manufacturing workplace. The role will partner closely with Plant Finance, Operations, Supply

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Chain, Procurement, Production, Quality, and Corporate Finance teams to ensure accurate inventory

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valuation, robust cost controls, and timely financial reporting.

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Key Responsibilities

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1. Standard Costing & Cost Accounting

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• Develop, maintain, and review standard costs for raw materials, components, labor, overheads, and finished goods.

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• Perform periodic standard-cost updates and ensure costing reflects approved business assumptions.

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• Analyze product and manufacturing costs and identify cost optimization opportunities.

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• Ensure accurate BOM, routing, work-center, and cost-component information for costing purposes.

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• Support annual budgeting, forecasting, and standard-cost-setting exercises.

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2. Manufacturing Variance Analysis

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• Prepare and analyze manufacturing cost variances, including material price/usage, labor efficiency, production overhead, purchase price, yield, and production variances.

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• Investigate significant variances with Plant Operations, Procurement, Production, and Supply Chain teams.

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• Provide meaningful variance commentary and identify root causes and corrective actions.

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• Monitor actual versus standard costs and drive continuous improvement in manufacturing cost performance.

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• Prepare monthly plant cost-performance reports and management dashboards.

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3. Inventory Accounting & Reconciliation

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• Perform monthly inventory reconciliations between ERP/system records and the general ledger.

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• Reconcile raw materials, work-in-progress, finished goods, and other inventory categories.

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• Investigate inventory discrepancies, negative inventory, aging, excess/obsolete stock, and unexplained movements.

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• Ensure appropriate inventory valuation.

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• Coordinate with Supply Chain and Warehouse teams to resolve inventory accounting issues.

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4. Physical Inventory Count

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• Plan, coordinate, and execute physical inventory counts/cycle counts in partnership with Warehouse and Operations teams.

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• Develop inventory count procedures, schedules, count sheets, and reconciliation processes.

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• Review physical count results against ERP/system balances.

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• Investigate and document count differences and ensure timely adjustments after appropriate approvals.

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• Strengthen inventory controls and recommend improvements to minimize inventory variances.

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5. Production Order Accounting & Closure

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• Monitor production orders for timely and accurate closure.

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• Review open production orders, WIP balances, material consumption, labor, overhead absorption, and settlement.

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• Identify aged/open production orders and coordinate with Production and Operations for closure.

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• Ensure appropriate accounting treatment for production variances and order settlements.

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• Support month-end activities related to production orders and WIP.

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6. Month-End & Financial Reporting

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• Support monthly closing activities related to inventory and manufacturing costs.

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• Prepare inventory valuation, provisions, variance, WIP, and manufacturing cost reports.

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• Ensure timely and accurate reporting in accordance with corporate finance requirements.

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• Support internal and external audits by providing schedules, reconciliations, and supporting documentation.

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Required Qualifications

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• CA / CMA / MBA (Finance) or equivalent professional qualification.

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• 5+ years of relevant experience in cost accounting, inventory accounting, plant finance, or manufacturing finance.

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• Prior experience working in a manufacturing plant environment is mandatory.

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• Experience with a global MNC / multinational manufacturing organization is highly preferred.

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Qualification: CA / CMA / MBA – Finance | Experience: 5+ years

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📌 Inventory & Cost Accountant - CA/CMA/MBA (Bengaluru)
🏢 Corenza
📍 Bengaluru