Purpose :

To manage and control all financial and accounting activities at the plant level including cost accounting, inventory control, production accounting, statutory compliance, and financial reporting, ensuring accuracy, transparency, and adherence to company financial policies.

The Plant Accountant acts as the financial controller of plant operations.

Roles & Responsibility:

A. Production & Cost Accounting

· Maintain Bill of Material (BOM) costing for all manufactured products.

· Monitor actual vs. standard production cost.

· Track: Raw material consumption / Batch cost / Yield losses / Conversion costs

· Prepare product-wise cost sheets.

Key Controls: Batch cost validation / Variance analysis / Scrap and wastage reporting

B. Inventory Accounting & Control

· Maintain accounting records for:

o Raw Materials (RM) / Packaging Materials (PM)

o Work-in-Progress (WIP)

o Finished Goods (FG)

· Ensure GRN, issue, and stock adjustments are accurately recorded.

· Conduct monthly physical stock verification with Stores.

Key Controls

· FIFO compliance

· Inventory reconciliation

· Aging analysis

C. Plant Financial Reporting

Prepare plant-level financial MIS including:

· Production cost report

· Inventory valuation

· Variance analysis

· Monthly P&L; contribution

Provide insights on:

· Cost reduction opportunities

· Process inefficiencies

· Margin improvement

D. Payables & Vendor Accounting

Verify vendor invoices against:

· Purchase Orders

· GRN

· Quality approvals

Ensure correct accounting of:

· Raw material purchases

· Plant expenses

· Maintenance costs

Support finance team for vendor payments.

E.



Compliance & Statutory Requirements

Ensure plant-level compliance with:

· GST input reconciliation

· E-way bill tracking

· Tax documentation

· Audit documentation

Support internal and statutory audits.

F. Fixed Asset Accounting

· Maintain plant asset register.

· Track capital expenditure (CapEx).

· Record asset capitalization and depreciation.

· Monitor asset utilization.

G. Budgeting & Cost Control

· Assist in plant annual budgeting.

· Track budget vs actual expenses.

· Support cost optimization initiatives.

H. Internal Financial Controls

Ensure proper documentation for

· Material movement

· Production consumption

· Expense approvals

· Scrap disposal

Prevent financial leakage or misuse of resources.

KRA's & KPI's:

· Inventory Accuracy - > 99 %

· Cost Variance –within defined standard

· Stock reconciliation – Monthly completion

· Financial Reporting Timeline – Within month end close cycle

· Audit non-conformities – Zero major

Skill & Competencies:

Technical Skill:

- Cost accounting
- Inventory accounting
- ERP systems
- Excel & financial analysis

Analytical Skill:

- Variance analysis
- Cost control
- Data reconciliation

Behavioral Skill:

- Attention to detail
- Process discipline
- Cross-functional collaboration

Qualification & Experience:

- B.Com / M.Com / MBA Finance / CA Inter
- 4–8 year experience as plant accountant
- Preferred from Electronics industry

Pay: ₹500,000.00 - ₹800,000.00 per year

Advantages

- Flexible schedule
- Health insurance
- Leave encashment
- Paid sick time
- Provident Fund
- Work from home

Work Location: In person

📌 Finance Controller (Powai)
🏢 Avance Lighting Industries Private
📍 Powai