Accountant Cost Control
5 days ago
Should have costing experience in the steel industry or similar; Oil and Gas industry will be given preference.
Qualifications: Especially CIMA, CMA, and CA would be a plus.
Should have specific experience in costing, inventory, and management accounting.
Monthly / Annual Closing:
- Periodic closing and opening subsequent month Cost Management and Inventory modules.
- Overhead allocations and absorptions allocations on a monthly basis.
- Allocation of joint cost through mass allocation. Prepare books closing JV through overhead allocation. Prepare working for absorption variance and pass necessary JV before month close.
- Monitoring of pending transactions for inventory organizations and closing all inventory organizations. Clearing of various WIP accounts.
- Monitoring expenses booking and scrutiny of trial balance. Running COGS recognition program and monitoring WIP jobs valuation.
- Passing necessary accounting JVs for WIP and absorption variances.
- Preparation of monthly product cost sheet, process wise for DRI.
- Preparing auxiliary product cost sheets.
- Assist in collecting accurate and up-to-date product cost information for product prices.
- Advise/suggestion on cost centre creation.
Reporting:
- To run fixed cost breakup for G&A and COGS, utility and overhead report, plant-wise depreciation report, and fixed cost report by department and by GL account.
- Preparation of data pack for IQ reporting for quarterly reporting. Data for Ministry of Economics and Statistics, yearly.
- Data for producer price index and other external agencies.
- By product inventory details and its sales history for management reporting.
- Non-moving inventory item report and stock analysis report for leadership meetings.
- Create discoverer report as per business requirement.
Inventory/Material Accounting Functions:
- Daily running of create accounting for all inventory organizations and completing multi-period accounting. Check for stuck transactions and getting them cleared with the help of IT. To check for any pending or uncosted transaction in the inventory module. Monthly Inventory/GL reconciliation (MAD Summary).
- Running transfer general entries to GL cost management program, transfer Journal Entries to GL- receiving. Create Accounting Receiving.
- Create absorption element as per need/required changes.
- Raw Material landed cost management in the system.
- Overhead absorption rate update in the system.
- Debit note/credit note implication workings particularly for oxide pellet and scrap purchases and its loading on the inventory carrying cost in the system.
- Inventory reconciliation, monthly reconciliation of inventory subledger balances with GL.
- Participate in physical stock verification process.
- Assist with data for dealing with the statutory auditors for Half yearly and Year end audits relating to inventory and product costing.
- Co-ordinate with the IT department for getting developed various reports for faster and correct reporting.
- Involve at the time of system upgrade.
- To work with IT for various automation processes.
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