Cost Accountant: Executive (Pharma API Experience ONLY)

. Job Purpose

To support cost accounting, product costing, inventory valuation, cost analysis, budgeting, and financial reporting to ensure accurate cost control, compliance, and improved operational profitability.

2. Key Roles & Responsibilities

A. Cost Accounting & Product Costing

• Prepare and maintain product-wise, batch-wise, and process-wise cost sheets.
• Calculate raw material, packing material, labour, utilities, and overhead costs.
• Analyze actual costs against standard costs and identify variances.
• Support standard costing and periodic cost updates for products and processes.
• Monitor manufacturing costs and identify opportunities for cost optimization.

B. Inventory & Stock Valuation

• Monitor inventory valuation of raw materials, intermediates, finished goods, and packing materials.
• Reconcile physical stock with book stock and investigate discrepancies.
• Review material consumption, production losses, yield variances, and scrap.
• Coordinate with Stores, Production, Purchase, and Quality teams for inventory accuracy.
• Support periodic inventory verification and ageing analysis.

C. MIS & Financial Reporting

• Prepare monthly costing reports, cost variance reports, and profitability statements.
• Develop product-wise and batch-wise profitability analysis.
• Prepare cost-related MIS reports for management review.
• Assist in budgeting, forecasting, and departmental cost monitoring.
• Track key cost drivers, including material consumption, utilities, manpower, and production overheads.

D. Statutory & Audit Compliance

• Assist in cost audit schedules, reconciliations, and supporting documentation, where applicable.
• Support statutory, internal, and cost audits.
• Maintain cost records and documentation in accordance with applicable laws and company policies.
• Coordinate with auditors and provide required cost-related information.
• Assist in GST and financial reconciliations related to inventory and costing, as required.

E. ERP & Process Improvement

• Maintain accurate costing and inventory data in ERP systems such as SAP, Oracle, or other relevant software.
• Verify BOMs, routings, material consumption, and production data used for costing.
• Identify discrepancies between production records, inventory transactions, and accounting records.
• Recommend improvements in costing systems, reporting accuracy, and cost-control processes.

3. Educational Qualification

• ICMAI / ICWA / CMA qualification preferred.
• Candidates pursuing CMA may be considered based on organizational requirements.
• Bachelor's degree in Commerce, Accounting, or Finance is desirable.

4. Required Skills

• Strong knowledge of cost accounting and manufacturing costing.
• Understanding of standard costing, variance analysis, and inventory valuation.
• Proficiency in MS Excel and ERP systems.
• Analytical, numerical, and problem-solving skills.
• Good coordination and communication skills.
• Knowledge of cost audit and applicable statutory requirements.

5. Key Performance Indicators (KPIs)

• Accuracy and timeliness of product and batch costing.
• Timely completion of monthly costing and MIS reports.
• Accuracy of inventory valuation and reconciliations.
• Identification and reporting of cost variances.
• Support for cost reduction and process improvement initiatives.
• Timely closure of audit observations and costing discrepancies.

6. Competencies

• Analytical thinking
• Attention to detail
• Data accuracy and integrity
• Team coordination
• Planning and time management
• Confidentiality and professional ethics