Costing Senior

Key Roles & Responsibilities

1. Cost Accounting & Analysis

• Prepare and maintain cost sheets for products and services.
• Analyze material, labor, and overhead costs.
• Monitor actual costs against standard costs.
• Conduct variance analysis and report deviations.

2. Budgeting & Forecasting

• Assist in preparing annual budgets and cost forecasts.
• Monitor departmental spending against budgets.
• Provide cost-related inputs for financial planning.

3. Inventory & Cost Control

• Verify inventory valuation and costing methods.
• Monitor inventory movements and identify cost-saving opportunities.
• Ensure proper allocation of production and operational expenses.

4. MIS & Reporting

• Prepare monthly cost reports and management MIS.
• Generate profitability reports by product, branch, or business unit.
• Support management with cost analysis for decision-making.

5. Process Improvement

• Identify areas for cost reduction and efficiency improvement.
• Recommend process enhancements to optimize resource utilization.
• Participate in cost-control initiatives.

6. Compliance & Audit Support

• Ensure compliance with accounting policies and cost accounting standards.
• Support internal and external audits by providing required schedules and documentation.
• Maintain proper records for cost-related transactions.

7. Team Coordination

• Coordinate with Production, Finance, Purchase, Stores, and Operations teams.
• Guide junior costing staff on costing procedures and reporting requirements.