ment Accounting

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 

Continuous Improvement

• Contribute to the identification of opportunities for continuous improvement and sustainability
  of systems, processes and practices considering global standards, productivity improvement
  and cost reduction.

Quality, Health, Safety & Environment 

• 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.

QUALIFICATIONS, EXPERIENCE, & SKILLS: 

Minimum Qualifications:

• University Degree in Finance
• CA, CMA or CIMA qualification would be preferable.

Minimum Experience:

• 6 years' experience in Management Accounting in a manufacturing organisation. Steel Industry experience would be preferable.

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