Senior Cost Accountant
Prime Source Industrial service
Total years of experience :20 years, 5 Months
1. Maintain costing system in the company.
2. Establish costing information system for new manufacture, product, and project.
3. Ensure that monthly costing procedures are performed in a most accurate and timely manner.
4. Maintain accounting information system for warehouses.
5. Review inventory reports as well as track, monitor and provide timely reports of abnormalities of actual production activities versus plan and budget.
6. Manage internal controls over inventory accounting system
7. Review bills of materials and routings for accuracy and enter in the system
8. Calculate Profitability by product, client, Sector.
9. Compile cost data for preparation of annual budgets including estimates of standard cost increases for the following year.
10. Analyse WIP, COGS, manufacturing variance and purchase price variance accounts each month and prepare reports.
1Preparation of the monthly management accounts.
2 Produce the budget and quarterly forecasts for approval by the Chief Financial Officer.
3 Provide variances analysis from budget; identify added-value reporting opportunities for trend 4analysis and commentary to assist forecasting and budgeting requirements.
5 Preparing and reviewing monthly P&L, balance sheet and cash flow reports.
6 Run cost benefit analysis on various operational decisions.
7 Year end income and expenditure forecasts.
1. Maintain Job Order costing system in the company.
2. Establish costing information system for new manufacture, product, and project.
3. Ensure that monthly costing procedures are performed in a most accurate and timely manner.
4. Maintain accounting information system for warehouses.
5. Review inventory reports as well as track, monitor and provide timely reports of abnormalities of actual production activities versus plan and budget.
6. Manage internal controls over inventory accounting system
7. Review bills of materials and routings for accuracy and enter in the system
8. Calculate Profitability by product, client, Sector.
9. Compile cost data for preparation of annual budgets including estimates of standard cost increases for the following year.
10. Analyse WIP, COGS, manufacturing variance and purchase price variance accounts each month and prepare reports.
11. Prepare cost estimates for new products and product changes.
12. Monthly Notes to CFO about issues that can affect work and suggestion to improve finance function.
13. Play key role in determining and developing new processes and report and have the opportunity to obtain a broader business understanding while adding value through insightful, pro-active analysis and reporting
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1. Maintain standard costing system in the company.
2. Ensure accuracy and update of standard purchase prices and routings, analyze changes in product design, raw material `manufacturing methods, or services provided to determine affects on cost.
3. review monthly closed production reports, explain variances
and work with production and inventory management to resolve variances generate and monitor monthly inventory valuations and correct discrepancies journalize variances makes cost estimates of new and proposed product or services .
4. calculations of labor and over head (burden) rates. Plans study and collects data to determine cost of business activity such as raw material and labor.
5. Records cost information for use in controlling expenditures. Generate monthly reports from system. Recommends cost efficiencies in new and existing products provides management with reports specifying and comparing factors affecting prices and profitability of products or services
• Maintain Job Order costing system in the company.
• Classify and analyze material costs, overhead and labor cost.
• Preparation of cost of sales, operating cost and other cost with timely and accurate completion.
• Perform analysis and create reports concerning inventory costs.
• Perform reporting variances and supporting analysis in costing system.
• Preparing the actual manufacturing cost comparing with budgeted manufacturing cost.
• Prepare and input actual, forecast and budget reports.
• Preparing the costing models in order to estimate product cost, margins and expenditures.
• Provide management with reports summarizing expenses
• Compiles cost information to be used in preparing operating budgets.
• Identify and analyzing variances, researching the causes of the variances and making recommendations based on analysis.
• Make recommendation and implements proper costing systems in order to accomplish managements cost goals.
1. Construct data systems and controls for a cost accounting system
2. Analyzing and processing job orders (material, labor and overheads).
3. Variance analysis and investigating differences.
4. Period reports for cost, margin, productivity, capacity.
5. Other factory-related accounting requirements and reports.
• Carry out day-to-day bookkeeping and finance/ accounting (payments/ receivables/ payroll) tasks that are subject to well-defined procedures
• Settle vendor accounts and reconcile purchase orders/receipts
• Produce routine daily reports and documents using financial reporting systems
• Undertake analysis and ad hoc reports for use by the finance department, using manual or computerized records
• Conduct standard accounting analysis using accounting tools and systems
• Coordinate with various departments on accounting related activities
• Conduct reconciliation of bank overdraft accounts
• Handle petty cash payments
• Handle the employee related payments - advances, recoveries, etc
• Supervise the input and handling of financial data and reports for the company's automated financial systems
• Take control & custody of cheque books/ gift vouchers and adherence to the internal control.
• Manage reconciliation of stock account with inventory records. - purchases - expenses - goods outwards
• Handle reconciliation of prepayment control account with sub ledgers.
• Conduct daily Sales Analysis and match collections / deposits made.
• Coordinate for collections and deposit in banks.