Costing Accountant

Job purpose

This position exists to oversee and analyze cost expenditures and purchases efficiently, in a timely manner and quality standards as per the defined policies and procedures to achieve departmental operational plans and developments within a wider scope.

Key accountability areas

• Monthly coordination with production to finalize all actual activities and closing orders.
• Monthly checking of all actual data posted by production and make required adjustments if needed.
• Monthly processing of period end closing and posting (WIP, variances, unrealized cost, etc.).
• Monthly posting of all costing entries and provisions.
• Monthly checking and analyzing the result of period end closing.
• Monthly checking of expenses and making adjustments if required.
• Monthly settlement for investment internal orders to AUC and cost center.
• Design and updating distribution cycle to allocate service and general cost center costs.
• General problem solving for costing issues, supervising, supporting, etc.

• Preparing planned costing data with agreed plant activity.
• Enter standard cost and standard plant activity in the system and calculate the rate.
• Maintain and update activities rate for production work centers.
• Regularly check and adjust materials master.
• Regularly check master data (BOM and routing) and inform planning to make required adjustments.
• Material costing run, to calculate planned cost.
• Maintain production orders overhead percentage.
• Upload overhead costs to production orders based on that maintained percentage.
• Regularly analyze cost for items and coordinate with planning for any correction.
• Regularly release the cost for related items.

• Analyze WIP and provide justification for major orders.
• Analyze unrealized cost and provide justification for major orders.
• Identify and analyze production, purchasing, and inventory variances.
• Control actual time posted by comparing with routing and make proper reporting to management.
• Prepare master consumption report with proper adjustments.
• Control actual consumption and monitor irregular cost for material and report to management.

• Monthly preparation of consumption and production masters.
• Monthly preparation of costing statement per product type.
• Prepare special costing reports.
• Monitor actual vs. budget and standard costing reports and variance analysis.
• Prepare best estimation costing reports.

Role accountability

Ability to obtain updated soft and technical skills related to the job.

• Perform the planned activities to meet the operational and development targets as per delivery schedules.
• Utilize resources effectively to achieve objectives within efficient cost and time.
• Provide a periodic report formatted by detailing the deviation and execution of planned tasks.

Solve any related problems that arise and escalate any complex operational issues.

Ensure quality requirements to develop effective quality control and processes including specifications for products or processes or related activities.

Coordinate well-defined written systems, policies, procedures, and seek automation opportunities as much as possible.

Comply with related policies, procedures, and work instructions.

Ensure compliance of relevant safety, quality, and environmental management procedures and controls within defined area of work activity to guarantee safety, legislative compliance, and delivery of high-quality products/services.

Academic qualification

Bachelor degree in accounting and finance or any relevant field.

Work experience

2 to 4 years.

Technical / functional competencies

• Cost accounting
• Cost accounting best practices
• Cost accounting systems
• Cost analysis
• Industrial cost analysis