Costing Supervisor
Hikma Pharmaceuticals - Other Locations
Total years of experience :16 years, 11 Months
• Evaluate the adequacy of cost accounting systems, policies and procedures, and evaluate other accounting and production systems, policies and procedures in reference to cost accounting.
• Direct and coordinate standard rate collection.
• Direct overhead cost allocations.
• Oversee the forecasting of inventory levels and manage quarterly physical inventories.
• Interpret and report rate change impact on inventories.
• Analyze changes in product design, raw materials, manufacturing methods or services provided, to determine effects on cost.
• Analyze actual manufacturing costs and preparing periodic reports comparing standard costs to actual production costs.
• Record cost information for use in controlling expenditures.
• Initiate and/or analyze cost accounting system requests, identify alternatives, make recommendations and implement approved requests.
• Evaluate the need for special cost studies and analysis. Oversee study preparations, interpret results of all studies, reports, etc., and make presentations to management.
• Analyze the variances and the over/under applied OH
• Oversees and coaches cost accountants and responsible for delegating assignments to staff and following up on their progress.
• Successfully achieved cost reduction for many of the company products through better controlling over production orders and decreasing the scrap levels.
• Successfully achieved better cost accumulation and more accurate cost assessment for finished goods by changing the OH allocation method.
• Prepares cost estimates of new and customized products for establishing selling prices and production forecasts.
• Maintains responsibility for routine compilation of parts manufacturing costs for payroll, inventory accountability, distribution of factory labor, verification of actual costs and computation of variances.
• Sets up expenses budgets for manufacturing and service departments and the proforma cost of goods sold statement.
• Checks and clears data on labor and materials costs burden and expense items, inventory, and profit and loss adjustments.
• Devises, installs and controls systems for determining unit cost of products and services.
• Distributes costs between the various divisions of management and production.
• Recorded daily transactions (accounts payable/receivable, general ledger), and preparing asset, liability, and the capital account entries.
• Summarized the current financial status by preparing balance sheet, income statement, and cash flow statement.
• Participated in regular tax audits.
• Prepared budget reports.
• Ensuring compliance with laws.
• Maintained financial security by following internal controls.
• Prepared payments by verifying documentation, and requesting disbursements.
• Successfully achieved better cost allocation through changing the depreciation method used for a category of fixed assets.
• Issued significant control reports and other decision making data to executives, superintendents, department heads, and foremen which assist in controlling and improving costs and operations.
• Prepared cost-estimates and cost-reduction calculations.
• Collected, analyzed, and summarized both fixed and variable costs related to the company's business activities.
• Completed periodic cost runs and month end closings.
• Used the SAP program to analyze the cost of goods sold statement at the end of each month.
• Allocated the indirect costs to the finished products.
• Dealt with external auditors (KPMG & Price water house) and tax authorities' representatives in the area of costing and inventory.
• Kept records associated with the accounting for manufacturing and non-manufacturing activities.
• Analyzed all costs of manufacturing, marketing, and administration for use by management in planning and control.
• Used the SAP program to follow up the Production orders from A to Z, calculate the variance between the actual and the target order costs and identifying root causes of variance and propose plans to reduce costs.
• Followed up the company assets and any addition of a new asset using the SAP program.
• Prepared the assets record & calculated the depreciation expense.
• Following up and pricing the Letters of credit (L.Cs).
• Followed up and controlled the monthly purchasing prices & quantities for each material (local & foreign).
• Participated in the implementation of the material management & costing modules of the SAP program.
• Prepared the inventory receipts and issuance entries, the materials inventory cards, and the Quantities and values equations report for each storage location.
• Worked as an inventory controller and participated on the quarterly physical inventory count over the company's warehouses.
• Used the SAP program to follow up the inventory cards, the average cost for the materials, and the inventory balances (quantities & values).
• Sold Ads. For superpages.com (The online version of the Verizon Yellow Pages book which is published in the USA) over the phone.
• Communicated with businesses in the USA.
• Achieved monthly target.
• Achieved monthly target.
• Made a daily plan to achieve the target.
• Handled the customers' complains.