Cost Accountant

Job Description for – Cost Accountant

Duties:

• Establish standard costs and update them periodically to reflect cost changes.
• Preparation of product costings and pricing.
• Financial control of inventory including accounting, valuation and obsolescence management, including preparation of monthly stock valuation.
• Preparation of the monthly accruals.
• Prepare, record and process monthly journal entries manually and initiate all records on the ERP system.Classify cost accurately.
• Review Journal entries for anomalies and other inconsistencies.
• Reconciling inventory accounts to the general ledger.
• Investigate variances in the gross margin including detailed product margin and manufacturing line profitability analysis.
• Analyze actual manufacturing costs and prepare weekly reports comparing standard costs to actual.
• Review and maintenance of standard costing, BOMs, reconcile with purchase orders and related costing processes.
• Profitability analysis across different products.
• Trend analysis to identify problems or areas for improvement.
• Material, Labour and overheads variance costings & forecasting.
• Preparation of costing analysis for new products and business proposals
• Support production managers in understanding product costs and driving improvement in product margins.
• Meet monthly, quarterly, and yearly strict closing deadlines.
• Produce various management reports.