Cost Accountant

1- Collecting and Analyzing Cost Elements:

Gather cost data related to raw materials, labor, and manufacturing overhead.

Classify costs into direct and indirect, fixed and variable.

2- Determining Product Cost:

Calculate unit cost per product based on production orders or batch processing.

Prepare and update the standard or actual costing system.

3- Variance Monitoring and Performance Analysis:

Compare actual costs to standards and analyze causes of deviations.

Prepare periodic variance reports and provide recommendations.

4- Inventory Monitoring:

Track the cost of raw materials, work-in-progress, and finished goods.

Participate in inventory counts and analyze inventory discrepancies.

5- Reporting and Administrative Support:

Prepare monthly and quarterly cost reports.

Support senior management with accurate data for pricing, expansion, or cost-reduction decisions.

6- Collaboration with Other Departments:

Coordinate with production and purchasing departments to ensure data accuracy.

Assist the finance department in preparing financial statements and budgets.

7- Systems and Process Improvement:

Contribute to the development of the cost accounting system.

Utilize ERP or accounting software to enhance data accuracy and reporting efficiency

8- Collaboration with the Programming / IT Department:

Coordinate with the programming team to develop or customize cost accounting systems or ERP reports to meet industrial accounting needs.

Define cost accounting requirements to be integrated into the system (e.g., job order cost tracking, cost analysis, variance reports).

Test system updates related to financial modules to ensure compliance with accounting procedures.

Work with system developers to integrate financial and production databases.

Participate in digitizing cost-related processes and improving data flow between production and finance.

Request the development of customized screens or reports for more accurate performance analysis.