Assistant Manager- Commercial Finance - CA/CPA (3-5 yrs)

This role is responsible for analysing and managing the costs of production or products within an organization. This role involves tracking and controlling expenses, preparing cost reports, analysing variances, and providing detailed financial data to help the company make informed pricing, budgeting, and financial decisions. He / She works closely with finance, operations, and management teams to ensure cost efficiency and profitability.

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Key Responsibilities:

1. Cost Analysis & Reporting:

o Analyse production costs, including materials, labor, overhead, and other variable costs.

o Prepare detailed cost reports on a regular basis (weekly, monthly, quarterly) to track variances between actual and standard costs.

o Provide insights into cost trends, highlighting areas of concern or opportunities for cost savings.

o Present cost analysis reports to senior management, offering recommendations for cost reduction and efficiency improvements.

2. Inventory Costing:

o Track and calculate inventory costs, including raw materials, work-in-progress, and finished goods.

o Ensure proper valuation of inventory in accordance with the company's accounting policies and financial standards.

o Conduct regular physical inventory counts and reconcile discrepancies with accounting records.

3. Variance Analysis:

o Perform detailed variance analysis to compare actual costs with budgeted or standard costs.

o Investigate the reasons behind cost overruns or savings, working with operations teams to implement corrective actions.

o Provide management with timely information on cost performance and trends.

4. Budgeting & Forecasting:

o Assist in the preparation of annual budgets and financial forecasts by providing cost data and projections.

o Help in forecasting future costs for budgeting purposes, considering historical data and market trends.

o Collaborate with other departments (e.g., production, operations) to gather data for cost estimates and forecasts.

5. Cost Optimization & Efficiency:

o Identify opportunities for cost reduction, process improvements, and efficiency gains in production.

o Work with management to implement strategies for controlling costs while maintaining product quality and service standards.

o Analyze production processes and recommend changes or improvements to minimize waste and improve cost efficiency.

6. Compliance & Internal Controls:

o Ensure compliance with accounting standards, regulatory requirements, and internal policies related to costing.

o Implement and monitor internal controls over cost accounting and inventory management processes.

o Assist with audits, providing necessary documentation and explanations for cost-related inquiries.

7. Collaboration with Other Teams:

o Work closely with operations, procurement, and production teams to understand the factors influencing cost behavior.

o Provide support for pricing decisions by calculating the cost of goods sold (COGS) and analyzing margin profitability.

o Partner with the finance team to ensure that financial statements reflect accurate cost data and inventory valuation.

Qualifications:

- Education:

o Professional certifications such as CA, CPA or ACCA.

- Experience:

o 3-5 years of experience in cost accounting, management accounting, or financial analysis.

o Experience in a manufacturing, production, or service environment is mandatory.

o Knowledge of cost accounting principles, cost allocation methods, and inventory valuation techniques.

- Skills & Competencies:

o Knowledge to build reports in Power BI will be an advantage.

o Advanced proficiency in Microsoft Excel, including pivot tables, VLOOKUP, Power query, and data analysis.

o Ability to work with large datasets and financial systems.

o Strong communication and presentation skills with the ability to explain financial concepts to non-financial stakeholders.

o Attention to detail and a proactive, problem-solving approach.

o Strong organizational skills and ability to manage multiple priorities and deadlines.