Assistant Manager - Costing

Key Responsibilities

1. Cost Accounting and Analysis

• Maintain accurate cost records for products and processes, ensuring all costing components are accounted for.
• Calculate and update standard costs for raw materials, labor, and overheads.
• Conduct cost variance analysis (actual vs. standard costs) and report on root causes of discrepancies.
• Analyze cost data to identify trends and opportunities for cost reduction and efficiency improvements.

2. Inventory Valuation and Control

• Oversee inventory costing and ensure accurate valuation of raw materials, work-in-progress, and finished goods.
• Reconcile inventory reports with physical stock and accounting records.
• Monitor and control slow-moving, obsolete, and excess inventory through analysis and reporting.
• Participate in stock audits and physical inventory counts.

3. Budgeting and Forecasting Support

• Assist in preparing annual budgets, cost forecasts, and financial projections.
• Collaborate with production, procurement, and operations teams to gather data and develop cost models.
• Monitor actual performance against budgets and assist in variance analysis and reporting.

4. Pricing Support and Profitability Analysis

• Work closely with the sales and marketing teams to provide cost data for pricing decisions.
• Perform margin and profitability analysis by product, customer, and segment.
• Support management in product cost evaluations for new launches or pricing revisions.

5. Compliance and Reporting

• Ensure compliance with statutory and internal accounting policies related to cost accounting.
• Prepare cost-related MIS reports and dashboards for management decision-making.
• Assist in internal and external audits, providing documentation and support for cost-related queries.

6. ERP and Systems Management

• Manage and update cost records in ERP systems (e.g., SAP, Oracle, Tally, etc.).
• Troubleshoot costing issues within the system and liaise with IT/ERP support teams when necessary.
• Develop and improve internal costing procedures and controls for better accuracy and efficiency.