Cost Accountant
Description
We are looking for a detail-oriented Cost Accountant to join our Finance team and play a critical role in analyzing cost of goods sold (COGS), monitoring operational expenses, and ensuring all cost records are accurate, timely, and aligned with the company’s budgeted expectations. The ideal candidate will work closely with Operations, Procurement, and Production teams to ensure strong cost control, improved profitability, and financial accuracy across the business.
This role is essential for maintaining cost discipline and supporting strategic decision-making.
This role is essential for maintaining cost discipline and supporting strategic decision-making.
Responsibilities
Cost of Goods Sold (COGS) Analysis
• Analyze, verify, and reconcile cost of goods sold across all product lines or business units.
• Ensure COGS calculations are accurate and updated regularly within the ERP system.
• Identify variances between actual cost and standard/budgeted cost, and investigate root causes.
Operational Cost Monitoring
• Evaluate daily, weekly, and monthly operational costs (materials, labor, fuel, equipment, logistics, overheads, etc.).
• Compare actual spending against budgeted levels and highlight deviations.
• Collaborate with Operations and Production teams to understand operational drivers of cost.
Budgeting & Forecasting Support
• Assist in the preparation of annual budgets and rolling forecasts.
• Monitor budget adherence throughout the financial year and provide insight into discrepancies.
• Participate in cost optimization initiatives and provide cost-reduction recommendations.
Inventory & Material Cost Control
• Review and validate material consumption reports, stock movements, and material valuation.
• Monitor variance between theoretical vs. actual consumption.
• Ensure proper costing of raw materials, spare parts, fuel, and production inputs.
Reporting & Financial Documentation
• Prepare accurate cost reports, dashboards, and variance analyses for management review.
• Maintain detailed cost records and ensure compliance with internal controls.
• Support month-end closing by preparing accruals, journal entries, and cost-related schedules.
Cross-Department Collaboration
• Coordinate closely with Procurement to validate purchase pricing, supplier costs, and contract terms.
• Work with Production, Logistics, and Operations to validate cost allocations.
• Provide financial insights to management on cost trends, risks, inefficiencies, and opportunities.
ERP & Process Improvement
• Ensure correct costing configuration and data accuracy within the ERP system.
• Participate in system enhancements, automation, and process improvements related to costing.
• Develop SOPs for cost accounting processes.
• Analyze, verify, and reconcile cost of goods sold across all product lines or business units.
• Ensure COGS calculations are accurate and updated regularly within the ERP system.
• Identify variances between actual cost and standard/budgeted cost, and investigate root causes.
Operational Cost Monitoring
• Evaluate daily, weekly, and monthly operational costs (materials, labor, fuel, equipment, logistics, overheads, etc.).
• Compare actual spending against budgeted levels and highlight deviations.
• Collaborate with Operations and Production teams to understand operational drivers of cost.
Budgeting & Forecasting Support
• Assist in the preparation of annual budgets and rolling forecasts.
• Monitor budget adherence throughout the financial year and provide insight into discrepancies.
• Participate in cost optimization initiatives and provide cost-reduction recommendations.
Inventory & Material Cost Control
• Review and validate material consumption reports, stock movements, and material valuation.
• Monitor variance between theoretical vs. actual consumption.
• Ensure proper costing of raw materials, spare parts, fuel, and production inputs.
Reporting & Financial Documentation
• Prepare accurate cost reports, dashboards, and variance analyses for management review.
• Maintain detailed cost records and ensure compliance with internal controls.
• Support month-end closing by preparing accruals, journal entries, and cost-related schedules.
Cross-Department Collaboration
• Coordinate closely with Procurement to validate purchase pricing, supplier costs, and contract terms.
• Work with Production, Logistics, and Operations to validate cost allocations.
• Provide financial insights to management on cost trends, risks, inefficiencies, and opportunities.
ERP & Process Improvement
• Ensure correct costing configuration and data accuracy within the ERP system.
• Participate in system enhancements, automation, and process improvements related to costing.
• Develop SOPs for cost accounting processes.
Requirements
Education
• Bachelor’s degree in Accounting, Finance, Cost Accounting, or related discipline.
• Professional certifications (CMA, ACCA, CPA) are a strong advantage.
Experience
• 5–8+ years of cost accounting or cost control experience.
• Experience in industrial, construction, manufacturing, or ready-mix environments is preferred.
• Strong understanding of cost allocation, cost structures, and financial analysis.
Skills & Competencies
• Strong analytical and numerical abilities.
• Excellent attention to detail and accuracy.
• Proficiency in MS Excel and ERP systems (Odoo, SAP, Oracle, Dynamics, etc.).
• Ability to interpret operational data and translate it into financial insights.
• Good communication and cross-functional coordination skills.
• Ability to work under pressure and meet deadlines.
• Bachelor’s degree in Accounting, Finance, Cost Accounting, or related discipline.
• Professional certifications (CMA, ACCA, CPA) are a strong advantage.
Experience
• 5–8+ years of cost accounting or cost control experience.
• Experience in industrial, construction, manufacturing, or ready-mix environments is preferred.
• Strong understanding of cost allocation, cost structures, and financial analysis.
Skills & Competencies
• Strong analytical and numerical abilities.
• Excellent attention to detail and accuracy.
• Proficiency in MS Excel and ERP systems (Odoo, SAP, Oracle, Dynamics, etc.).
• Ability to interpret operational data and translate it into financial insights.
• Good communication and cross-functional coordination skills.
• Ability to work under pressure and meet deadlines.