Cost Accountant
5 months ago
The cost accountant position is responsible for all aspects of Manufacturing and Production costing analysis and inventory for all business locations. The cost accountant is responsible for comparing standard cost to actual cost and identifying and explaining variances by SKUs. The cost accountant must also work closely with engineering and manufacturing personnel to resolve variances and adjust Bills of Materials (BOM’s).
**KEY RESPONSIBILITIES**
- Develop and maintain cost accounting system that ensures accurate costing.
- Produce daily reports on production, variance on ad hoc basis.
- Review and analyse standard and actual costs for variances and prepare reports.
- Update standard costs and ensure accuracy in the Bill of Materials (BOM’s)
- Segregation of Overheads into Fixed and Variable and Allocation to SKUs’ for fixing Selling prices.
- Working out process improvement / automation initiatives that would affect in time and cost efficiency results.
- Periodical reporting on production wastages.
- Implementation of proper systems / standards for control of production wastages.
- Prepare, analyse and report monthly gross margin analysis by Products / SKUs
- Analyse changes in product design, raw materials, manufacturing methods, or services to determine effects on costs.
- Study and collect data to determine costs of business activities such as raw material purchases, inventory, and labour.
- Responsible for account reconciliation of physical inventories and cycle counts.
- Prepare periodic inventory reserves reconciliation, analysing inventory for risk, and monitoring with support from internal stakeholders.
- Assist in month-end and year-end closing by analysing inventory and preparing supplemental reports as needed.
- Monitor and manage assets from acquisition to disposition.
- Study and report on Cost-Volume-Profit Analysis and Break-Even Sales / Capacities
- Creation of Cost Centers and identifying and analysing costs and eliminate redundancies.
- Critical Analysis of Input Material Price.
- Review and assessment of Plant Costing operations.
- Define and operate stringent review mechanism on a regular basis.
- Submission of periodical reports to Tax Authorities from time to time.
- Work on special projects as and when required.
**EDUCATION AND/OR WORK EXPERIENCE REQUIREMENTS**
- Bachelor’s degree in accounting, finance, or a related field
- Professional certification such as CMA/ACCA is preferred.
- At least five years of accounting experience in a manufacturing environment with costing experience
- Proficient in Microsoft Excel, Word, PowerPoint & Outlook
- Knowledge in SAP system in Finance / Costing / MM modules
- Committed team player with positive learning attitude and self-motivated.
- Ability to work under pressure to meet deadlines.
- Ability to demonstrate & communicate the issues to resolve.
- Proven track record of contributions for improvement of systems & controls in mitigation of losses and wastages.
**OTHER REQUIREMENTS**
- If required need to travel to Head Office in Kuala Lumpur
- Willing to work on 5 ½ week (Monday to Friday - 8.00am to 5.00pm and Saturday - 8.00am to 12.00pm).
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