Cost Accountant

Job Purpose: To oversee and manage the costing processes for stone industry operations, ensuring accurate product costing, cost control, and financial analysis to optimize profitability.

Key Responsibilities:

1. Costing and Budgeting:

• Develop, maintain, and analyze standard costing for stone products, including natural and engineered stones.
• Prepare and monitor budgets, ensuring alignment with production and sales forecasts.
• Analyze variances between standard and actual costs, providing insights and corrective actions.

1. Inventory and Material Cost Control:

• Monitor raw material, semi-finished, and finished goods inventory costs.
• Evaluate material usage efficiency and identify areas for cost savings.
• Implement effective cost control measures for quarrying, processing, and transportation.

1. Production Cost Analysis:

• Work closely with production teams to analyze costs related to stone cutting, polishing, and finishing.
• Evaluate labor, machine, and utility costs per unit of production.
• Identify and recommend opportunities for operational cost reduction.

1. Financial Reporting and Analysis:

• Prepare detailed cost reports and profitability analyses for management.
• Ensure accurate cost allocation to different products and projects.
• Support financial audits with necessary cost data and analysis.

1. Process Optimization:

• Collaborate with production and supply chain teams to improve operational efficiency.
• Recommend process changes to enhance cost-effectiveness while maintaining quality standards.

1. Compliance and Documentation:

• Ensure compliance with industry regulations and standards related to costing and pricing.
• Maintain accurate and updated documentation of costing procedures and records.

Qualifications and Experience:

• Education:
• Bachelors degree in Commerce, Finance, or Cost Accounting (mandatory).
• Professional qualification such as CMA (Cost and Management Accountant) preferred.
• Experience:
• 5-8 years of experience in costing, with at least 2-3 years in the stone industry or a similar manufacturing setup.
• Skills:
• Strong analytical skills with expertise in cost accounting systems.
• Proficiency in ERP systems and advanced Excel.
• In-depth knowledge of stone production processes and cost drivers.
• Excellent communication and problem-solving skills.

Key Competencies:

• Attention to detail and accuracy.
• Strong financial acumen and strategic thinking.
• Ability to work collaboratively with cross-functional teams.
• Proactive in identifying inefficiencies and suggesting improvements.