Manufacturing Cost Accountant/ Controller
10 months ago
Overview:
As a Manufacturing Cost Controller, you will be responsible for overseeing and managing the cost accounting and financial analysis processes..
Overview:
As a Manufacturing Cost Controller, you will be responsible for overseeing and managing the cost accounting and financial analysis processes within the manufacturing department. Your primary objective will be to ensure accurate cost reporting, analyze manufacturing costs, identify areas for cost optimization, and support decision-making to improve operational efficiency and profitability.
Key Responsibilities:
- Cost Accounting and Reporting: Develop and maintain cost accounting systems, processes, and procedures to accurately capture manufacturing costs.
Prepare and analyze monthly, quarterly, and annual manufacturing cost reports.
Monitor and analyze variances between actual costs and standard costs, investigating and explaining any discrepancies.
- Inventory Management:Oversee inventory valuation and reconciliation processes, ensuring accuracy and compliance with accounting standards.
Analyze inventory levels, turnover rates, and aging to identify opportunities for optimization and reduce carrying costs.
Coordinate with production and procurement teams to ensure accurate recording of raw materials, work-in-progress, and finished goods.
- Budgeting and Forecasting:Assist in the development of manufacturing budgets and forecasts, providing input on cost assumptions and projections.
Monitor budget performance and provide regular updates to management, highlighting areas of concern and recommending corrective actions as needed.
- Cost Analysis and Optimization:Conduct detailed analysis of manufacturing costs, including direct labor, materials, overhead, and other expenses.
Identify cost drivers and trends, partnering with cross-functional teams to implement cost-saving initiatives and process improvements.
Evaluate the impact of changes in production methods, product designs, or materials on manufacturing costs and profitability.
- Financial Analysis and Decision Support:Prepare financial models and scenarios to support decision-making related to pricing, product profitability, and capital investments.
Provide ad-hoc financial analysis and insights to support strategic initiatives and business planning efforts.
Collaborate with other departments, such as operations, finance, and procurement, to drive alignment and achieve common goals.
Qualifications and Skills:
- Bachelor's degree in Accounting, Finance, or related field.
- Proven experience in cost accounting or financial analysis within a manufacturing environment.
- Strong understanding of cost accounting principles, inventory valuation methods, and standard costing.
- Proficiency in ERP systems (e.g., SAP, Oracle) and advanced MS Excel skills.
- Excellent analytical and problem-solving abilities, with keen attention to detail.
- Effective communication and interpersonal skills, with the ability to collaborate across functional teams.
- Results-oriented mindset with a focus on driving continuous improvement and achieving targets.
- Ability to work independently and manage multiple priorities in a fast-paced environment.
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