Manager Costing

About the Role

We are seeking a highly analytical and detail-oriented professional to take on the role of Manager - Costing. The ideal candidate will be responsible for managing material accounting, inventory valuations, product costing, and profitability analysis. This role demands expertise in financial reporting, variance analysis, and alignment with I-GAAP standards to ensure accurate cost management and reporting.

Key Responsibilities:

Material Accounting

• Monthly Reporting on weighted material cost and department / Revenue center / System wise.
• Gross Contribution analysis (sales Material).
• Ensure explainable variance between material standard price & moving average price.
• Purchase price variance, MO variance.
• Controlling all variances to improve the accuracy in P & L.

Monthly Reports for Reporting Pack:

• Month end SAP Closure Activity (Cost run on last day of current month and system closing on 1st day of succeeding month).
• Generation of reports,
• Machines serial report
• Sales report
• Inventory report.

Material / Inventory Valuations:

• Material batch valuation & quarterly: Computing manual batch cost for TOP TEN items in all locations and checking the same in SAP valuation and discrepancies if any, will be taken to MIS and solved immediately.
• Inventory valuations quarterly and passing entry in SAP.
• Handling audit quires during external audits
• Reporting on obsolete inventory and aging of inventory.
• Items activation in system / SAP for all inventory items to be procured.
• Drive & ensure closure of bi-annual physical inventory audits.

Costing:

• Implementing the product costing for the following segments:
• Implementing pricing structure / costing for all products by introducing activity-based costing.
• MHR implementation.
• Timely compute and provide selling pricing.
• Support management in evaluation of any order estimating the selling price, cost price & discounts allowable.

Segment Wise Profit Analysis:

• Reporting on segment wise profitability on half year / yearly basis and I - GAAP.
• Controlling the unallocated expenditure and advise concerned departments.

I GAAP Finalization

• Material accounting valuations according to I-GAAP act and break up the same into imports and domestic.
• Finalization of cost of goods sold as per I-GAAP act and responding to the queries from auditors
• Revenue statement product wise and business wise.
• Production statement Product wise and business wise.
• Reconciliation of the total I-GAAP statements with T.B and P&L and Balance Sheet.
• Comparative analysis: previous year Vs. Current year.
• Revenue analysis (Business-wise).
• Cost Analysis (Element wise / Group wise).
• Profit Analysis (Business-wise).
• Segment profit analysis.

IFRS Finalization

• COGS valuation as per the IFRS and responding to the queries raised by auditors.
• Revenue Statement product wise and business wise.
• GP analysis in comparison to last year.
• Inventory analysis in comparison to last year.
• NRV working in Q-4.
• MHR/LHR working in Q-4.
• Inventory revaluation.

Qualifications and Skills

Education & Experience

• CMA/ICWAI
• Minimum 8~12 years of experience in a costing or financial management role within the manufacturing industry.

Technical Expertise:

• Proficiency in SAP (Material Management and Finance modules).
• Strong knowledge of costing methodologies, variance analysis, and financial reporting.
• Familiarity with I-GAAP standards.

Behavioral Competencies:

• High attention to detail with strong analytical abilities.
• Effective communication and problem-solving skills.
• Ability to manage multiple priorities and meet deadlines.