SUMMARY OF THE OVERALL JOB
SUMMARY OF THE OVERALL JOB
Assistant Manager Plant Accounts is responsible for Product costing and sku level cost reduction of the Products. Cost Accountant will be responsible for tracking , reporting on Variances on account of Time, Yields , wastages , Abosrption ( under/over) , Material Price variance (Inflation), batch costing, Skuwise Standards cost calculations, monitoring of Standard and actual costs, Latest Estimates for Product costings, Budgeting , Validation of BOM costing , NPD costings, Ensuring ERP entiries related to costings are accurate and Reconciliations of costing records with Financials.
KEY RESPONSIBILITIES:
• Timely finalisation of time and yield standards in discussion it Plant team • Updation of annual standard batch costing as per approved time and yield standards, approved Plant budgets and approved Purchase budgets ensuring accurate standard product costing to estimate the annual product cost and giving correct numbers to the management.
• Weekly batch time and yield report variance report and adherence to weekly time and yield standards and reasons for variances
• Weekly batch costing report- Variance analysis for standard vs actual cost variance - Variance analysis for negative batches. Discuss with Plant team to eliminate the variances
• Be the lead for the budgeting and Latest Estimates for Plant costings and overheads and tracking the actual v/s budgets v/s LE
• SKU level cost analysis - Month to Month cost comparison and analysis and to provide month on month cost trend to check cost trends and find the reason for variances and report to management
• Material inflation report- Reconciliation of item level batch costing on monthly basis. To check material purchase rate actual vs budgeted and analyze reason for variances for increase or decrease than budgeted
• New product COGS computation based on the standards and BOM available and to provide cost for new products that are to be shared with internal stakeholders. • Implementation of Revised costing in ERP as per new cost consultant initiatives and
guidelines and to make ERP costing more effective and allocate maximum cost as direct cost to the materials
• Initiative to control and reduction per unit product cost - Keep on monitoring extra losses and wastages and discuss with plant team to reduce these losses
ABC Cost categorization- Classification of the costs per ABC norms for market selling price decision. To share the ABC cost to the markets for making their annual budgets.
• Allocation of under and over absorbed overheads at cost against the existing units produced based on the guidelines provided by cost consultant and to check for overhead absorption and make revised costing as per over and under absorption trends
• Analysis of standard cost and recommendation of corrective action for the period based on the findings Monthly/Quarterly/Annually check the annual standard cost and revise the same there differences in standards and actual cost are significantly higher
• Checking of all Raw and Packing material BOM's for overage calculation and revision in BOM quantity if required Periodically and analyse the BOM of the products and match the actual quantity consumed with BOM quantity
• Real time checking of batch costing and ERP entries by monitoring batch costing and ERP entries for every finished batch on daily basis.
• Quarterly quantities reconciliation of RM and PM with financials and passing of corrective entry if any difference observe and Reconciliation of RM and PM as per batch costing and as per financials to be done. If any difference observed entry to be posted
• Maintenance of the records as per cost accounting requirements and compliances as per the new guidelines from cost consultants/Auditors
• Reporting of wastage and losses on monthly basis Report all abnormal losses and wastages to the management on monthly basis (Summary on monthly basis but escalation to be done real time)
• Raw materials and Packing material inventory management to identify non moving and slow moving goods, Identify slow and non moving materials and report for appropriate provisioning
• Exceptions reporting with respect of the plant as and when they occur like Any batch failure, repackaging , unbudgeted activities , unplanned downtime, any accident on lines etc. to be reported
• PPM ( Primary Packaging Materials) reconciliation and analysis Calculation of PPM consumption against the standards and monthly trends