Job Summary:

We are seeking a detail-oriented and analytical Industrial Cost Control Accountant to join our finance team. The role focuses on monitoring, analyzing, and controlling costs within an industrial or manufacturing environment. The successful candidate will ensure accurate cost reporting, optimize cost-efficiency, and support strategic decision-making by providing actionable financial insights. This position requires strong knowledge of cost accounting principles, manufacturing processes, and financial systems.

Key Responsibilities:

• Cost Analysis and Monitoring:
  • Track and analyze production costs, including raw materials, labor, overhead, and equipment.
  • Prepare detailed cost reports, variance analyses, and budgets to identify cost-saving opportunities and inefficiencies.
  • Monitor standard costs versus actual costs and investigate discrepancies to ensure accurate financial reporting.
• Budgeting and Forecasting:
  • Assist in developing annual budgets and forecasts for manufacturing operations.
  • Collaborate with production and operations teams to estimate costs for new products, projects, or process improvements.
  • Provide cost projections to support long-term financial planning and capital expenditure decisions.
• Inventory and Production Cost Management:
  • Oversee inventory valuation and ensure accurate costing of work-in-progress (WIP), finished goods, and raw materials.
  • Conduct regular cost audits to verify inventory accuracy and compliance with accounting standards.
  • Calculate and allocate overhead costs to products or production lines accurately.
• Process Improvement and Cost Optimization:
  • Identify areas for cost reduction and process improvements in manufacturing operations.
  • Work with cross-functional teams to implement cost-control measures without compromising quality or efficiency.
  • Recommend strategies to optimize resource utilization and minimize waste.

Collaboration and Support:

• Partner with production managers, procurement teams, and other stakeholders to align cost control strategies with operational goals.
• Provide financial insights to support pricing decisions, contract negotiations, and project evaluations.
• Train non-financial staff on cost control principles and their impact on operational performance.