Cost Accountant

Job Description

Purpose:

Responsible for monitoring, analyzing, and controlling production costs to ensure accurate product costing and

improve operational efficiency.

Responsibility

Cost Accounting:

· Prepare and maintain accurate product costing.

· Monitor manufacturing costs, including raw materials, consumables, labour, and overhead expenses.

· Analyse production costs and identify opportunities for cost reduction and process improvements.

· Perform cost allocation and ensure accurate recording of production costs.

· Conduct cost variance analysis and investigate significant deviations from budget or standard costs.

Inventory Management

· Monitor inventory valuation and ensure accurate inventory costing.

· Reconcile raw materials, work-in-progress (WIP), finished goods, and scrap inventory.

· Participate in monthly, quarterly, and annual stock counts.

· Investigate inventory discrepancies and recommend corrective actions.

Financial Reporting

· Prepare monthly cost reports, manufacturing performance reports, and management reports.

· Support month-end and year-end closing activities related to inventory and cost accounting.

· Ensure compliance with company accounting policies and financial reporting standards.

Budgeting & Analysis

· Assist in preparing annual budgets and production cost forecasts.

· Analyse manufacturing expenses and monitor departmental budgets.

· Provide financial analysis to support management decision-making.

· Evaluate the financial impact of process improvements, capital investments, and operational changes.

Internal Control & Compliance

· Ensure compliance with internal controls, accounting standards, and company policies.

· Support internal and external audits by providing required documentation and analysis.

· Review costing procedures and recommend improvements to enhance accuracy and efficiency.

Cross-Functional Collaboration

· Work closely with Production, Procurement, Warehouse, Engineering, and Sales departments to ensure accurate costing information.

· Assist in pricing analysis by providing accurate cost data.

· Support ERP system enhancements related to costing and inventory management.

Requirements

- Bachelor's Degree in Accounting, Finance, Cost Accounting, or a related discipline.

- Professional accounting qualifications (ACCA, CIMA, CPA, ICAEW, or equivalent) are an advantage.

- Minimum 3–5 years of experience in manufacturing industry for cost accounting, manufacturing accounting, or finance.

- Experience in the steel, metal, heavy manufacturing, or industrial sector is highly preferred.

Working hours:

Mon to Fri, 8am to 5:30pm

Requirements
Cost Accountant