Cost Accounts Head 16 views

The Cost Accounts Head will oversee all aspects of cost accounting and financial analysis within the organization. The role focuses on cost control, budgeting, and inventory management, ensuring the company maintains financial efficiency and effectiveness. The successful candidate will contribute to strategic decision-making by providing accurate cost analyses and reports.

Key Responsibilities:

• Lead and mentor the cost accounting team to enhance skills and productivity.
• Prepare actual vs. plan (budget) analysis. Prepare various financial analysis related to costs, inventory, and expense information for various customers as needed for decision making support
• Provides feedback to enhance or improve existing policies, procedures and processes for the Cost
• Control function to maintain efficient operational excellence.
• Assist the business with the annual budget process by engaging with budget holders to deliver budgets within targets
• Recommending corrective actions based on the status and summary reports to requesting management on material, machines and labor requirement of the project against agreed plans.
• Planning, Studying, and collecting data to determine costs of business activity such as purchases, inventory and labor
• Analyzing changes in government proclamation, regulations, directives or services provided, to determine effects on cost
• Analyzing changes in Banks exchange rate and freight costs from different shipping point to determine effects on cost
• Providing management with reports specifying and comparing factors affecting prices and profitability of products or services.
• Record the inventory movement indicator documents like GRN,SIV,DO etc on the system and reconcile all stock with the store bin card and system balance
• Conducts physical inventories and monitors cycle count program
• Providing expert advice on cost and budgeting issues related to current projects to project managers, conducting analysis of actual performance against plan.
• Manage on time in full delivery of Cost and Budget team
• Design effective budget models for departments and the entire company Analyze financial information (e.g. revenues, expenditures and cash management) to ensure all operations are within budget
• Present annual budgets to senior executives
• Review budget requests for approval
• Forecast future budget needs
• Identify variances between actual and budgeted financial results at the end of each reporting period
• Suggest spending improvements that increase profits
• Review the company’s budget for compliance with legal regulations
• Ensure department managers meet budget submission deadlines
• Design and implement effective budgeting policies and procedures
• Performs other duties and tasks as assigned.

Required Skills:

• Expertise in cost control and budgeting practices.
• Proficient in manufacturing cost control methodologies.
• Skilled in price analysis and cost comparison techniques.
• Strong knowledge of inventory management principles.
• Ability to develop comprehensive financial models.
• Experience in analyzing financial statements to drive business decisions.
• Proficient in accounting software and ERP systems.
• Strong attention to detail with a focus on accuracy.
• Ability to manage multiple projects and deadlines effectively.
• Excellent communication skills for reporting to stakeholders.

Desired Skills:

• Strong financial analysis capabilities to inform strategic decisions.
• Ability to interpret complex financial data and trends.
• Proficient in advanced Excel functions and data visualization tools.
• Strong problem-solving skills to address financial challenges.
• Ability to present financial information clearly to non-financial stakeholders.