Accountant

2. JOB PURPOSE:
This role covers the collection, analysis and presentation of financial and accounting data, both internally and for external auditors, especially regarding Inventory Accounting and Costing and Management Accounting. This person should strive to be an expert in Oracle ERP Inventory module for the integrated production steel production process from raw materials to finished goods including determination of COGS. Requires an experienced accountant who can provide professional advice and guidance relating to a broad spectrum of accounting, management accounting and financial reporting, demonstrating a sound understanding of the underlying principles and standards.

3. JOB DIMENSIONS:
Number of Staff Supervised
Direct Reports: Nil
Total Reports: Nil

4. KEY ACCOUNTABILITIES:
Description
Monthly / Annual Closing
Periodic closing and opening subsequent month Cost Management and Inventory modules.
Overhead allocations and absorptions allocations on monthly basis.
Allocation of joint cost through mass allocation. Prepare books closing JV though overhead allocation. Prepare working for absorption variance and pass necessary JV before month close.
Monitoring of pending transaction for inventory organizations and closing all inventory organization. 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.

Cost Control / Continuous improvement
Preparation of monthly product cost sheet, process wise for DRI, steel making and rolling mill.
Preparing auxiliary product cost sheets for Lime, Dolo Lime, RBQ, etc.
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 it cleared with 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 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.

Policies, Systems & Processes
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.

HSEQ
Follow the HSE rules, regulations and procedures of the company, and report any HSE concerns and incidents to the responsible person.

Other
Carry out any additional tasks as required by the Management.

5. COMMUNICATIONS & WORKING RELATIONSHIPS:
Internal
Day to day interaction with manufacturing plant units, Production Planning, Procurement & warehouse, Supply Chain & Logistics Maintenance department, IT etc for various matters.
Internal Auditor

External
Statutory Auditor
SAB Auditor

6. CONTEXT, WORK ENVIRONMENT & DECISION-MAKING AUTHORITY:
Key decisions having significant impact on the department are referred to the department manager for approval before implementation.
Job holder exercises financial authority as per the level established by the company board and stipulated in the authority matrix.

7. QUALIFICATIONS, EXPERIENCE, & SKILLS:

Minimum Qualifications:
College graduate in Finance with good experience in System (Oracle).

Minimum Experience:
6-8 minimum years experience with manufacturing background, 2-5 years specific steel industry experience would be a plus.

Job-Specific Skills (Generic / Technical):
Computer skill - Good in Excel and Power point.
Experience in Oracle system.
Good standard of written and spoken English and well-developed report writing ability.
Planning and organising skills.
Basic Supervisory skills.
Ability to work as part of a team.
Communication skills written and verbal.

8. CORE COMPETENCIES:
Creativity and Innovation: Generating viable, new approaches and solutions.
Work Ethics and Values: Demonstrating and supporting the organizations ethics and values.
Teamwork: Working collaboratively with others to achieve organizational goals.
Concern for Safety: Identifying hazardous or potentially hazardous situations and taking appropriate action to maintain a safe environment for self and others.

9. JOB FAMILY COMPETENCIES:
Analytical Thinking: Analysing and synthesizing information to understand issues, identify options, and support sound decision making.
Information Gathering and Processing: Locating and collecting data from appropriate sources and analysing it to prepare meaningful and concise reports that summarize the information.
Financial and Management Accounting: Developing and implementing processes and procedures to ensure the effective recording, tracking and management of revenues and expenditures.