Cost Accounting and Production Valuation
Calculate production costs: Determine direct labor, raw material, and overhead expenses for every manufactured auto component.
Monitor inventory valuation: Track stock levels of raw materials, work-in-progress (WIP), and finished auto parts to prevent shortages or excess holding costs. [1]
Perform variance analysis: Compare standard manufacturing costs against actual expenses to find production inefficiencies.
General Ledger and Financial Operations
Manage Accounts Payable (AP) and Receivable (AR): Process vendor invoices for raw materials and track receivables from Original Equipment Manufacturers (OEMs) or tier-1 clients.
Reconcile accounts: Perform daily or monthly bank and ledger reconciliations to ensure transaction accuracy.
Execute month-end and year-end closes:
Prepare final manufacturing accounts, income statements, and balance sheets.
Compliance, Auditing, and Budgeting
Ensure tax compliance: Handle local and national tax obligations, such as GST/VAT and corporate income taxes.
Support audits: Prepare financial documentation and cooperate with internal or external auditors during OEM supply-chain financial checks.
Assist in budgeting: Collaborate with plant controllers and operations teams to build annual financial forecasts and operational budgets.