Cost Accounting System Management:

• Design, implement, and maintain robust cost accounting systems and procedures (e.g., standard costing, activity-based costing, job costing) to accurately track and report costs.
• Ensure the integrity and accuracy of cost data within ERP systems (e.g., SAP, Oracle) and other financial software.
• Regularly review and update standard costs for materials, labor, and overhead, reflecting changes in production processes, material prices, and efficiency.
• Oversee perpetual inventory systems and conduct regular cycle counts and physical inventory reconciliations to ensure accuracy.

Cost Analysis and Reporting:

• Conduct detailed analysis of manufacturing, operational, and project costs, including cost of goods sold (COGS), scrapped material, and various cost variances (e.g., material, labor, overhead variances).
• Prepare and present comprehensive cost reports, performance metrics, and insightful variance analysis to management, highlighting key drivers and recommending corrective actions.
• Provide accurate and timely cost information for new products, special orders, and "make or buy" decisions.
• Analyze cost drivers and identify opportunities for cost reduction, process improvements, and increased profitability.
• Perform financial analysis related to product pricing, gross margin, and profitability by product line or business unit.

Collaboration and Advisory:

• Partner closely with production, engineering, procurement, and sales departments to understand operational processes and their impact on costs.
• Provide expert advice and technical assistance on cost analysis, cost implications of business decisions, and cost optimization strategies to various stakeholders.
• Support cross-functional teams in value engineering initiatives and cost-saving projects.

Compliance and Internal Control:

• Ensure compliance with accounting principles (e.g., GAAP, IFRS) and internal control procedures related to costing and inventory.
• Assist with internal and external audits, providing necessary documentation and explanations related to cost data.
• Identify and mitigate potential financial risks associated with costing.