Cost Accountant

Requirements

 Education Background

• Bachelor’s Degree (Honors) in Accounting, Finance, Business Administration, or a related field from a recognized institution
  
• Minimum Level II CPA certification
  

Experience

• One Year (1) year of relevant working experience in cost accounting or  management accounting in a reputable organization.
  

• Cost Analysis and Reporting: Develop and maintain systems to monitor, analyze, and report on production costs, operational expenses, and variances. Analyze cost trends and prepare detailed reports for management to aid decision-making. Provide insights on cost efficiency, identifying opportunities for cost savings. Assist in developing cost estimates for new projects, products, or processes.
  
• Costing and Budgeting: Participate in the preparation of budgets by collecting, analyzing, and evaluating cost-related data. Develop and implement cost control measures to enhance efficiency in resource utilization. Conduct regular reviews of expenditures to identify areas of cost leakage or overruns. Recommend strategies for reducing costs without compromising product quality.
  
• Inventory and Production Cost Management: Monitor inventory levels, ensure proper valuation of raw materials, work-in-progress, and finished goods. Track and analyze production costs, including labor, material, and overhead expenses. Analyze actual production costs versus standard costs and report on variances. Identify root causes of cost deviations and recommend process improvements to minimize discrepancies. Implement and maintain inventory costing methods (FIFO, LIFO, Weighted Average)
  
• Data Collection and System Management: Maintain and update cost accounting systems to ensure accuracy and reliability of data. Collect and analyze data from various departments, ensuring integration with the ERP system. Conduct regular audits to validate cost data and reporting accuracy. Work closely with production, procurement, and finance teams to ensure alignment on cost structures and reporting. Offer training and support to operational teams on cost management practices.
  
• Performance Monitoring and Reporting: Develop KPIs to monitor cost performance and efficiency across production processes. Develop a proactive risk management approach for financial risks. Prepare monthly cost reports, management accounts and present findings to Executive Management.
  
• Additional Responsibilities: Perform any other duties assigned by the immediate superior.