- Conduct cost audits and ensure compliance with applicable cost accounting standards and regulations.
- Prepare and review cost sheets, cost statements, and product-wise costing.
- Analyse raw material, labour, overhead, production, and inventory costs.
- Monitor and analyse material consumption, production costs, wastage, scrap, and process losses.
- Perform standard vs. actual cost and variance analysis.
- Support inventory valuation and reconciliation of physical and book inventory.
- Identify opportunities for cost reduction and process improvement.
- Coordinate with Finance, Accounts, Production, Purchase, Stores, and Operations teams for accurate cost data.
- Review manufacturing expenses and allocation of direct and indirect costs.
- Assist in the preparation of budgets, forecasts,
MIS reports, and management dashboards.
- Ensure accurate costing for new products and existing product lines.
- Verify cost records and supporting documents for audit requirements.
- Support statutory, internal, and external audits related to cost accounting.
- Maintain proper documentation and ensure timely submission of cost audit reports.
Key Performance Areas
- Accuracy of cost records and reports
- Timely completion of cost audits
- Cost variance identification and control
- Inventory and product costing accuracy
- Cost reduction opportunities identified
- Compliance with cost accounting requirements