- Cost Analysis & Management
-Collect, analyze, and maintain accurate cost information, including fixed and variable costs (e.g. salaries, rent, raw materials, utilities).
-Review and update cost sheets regularly, identifying inaccuracies or variances.
-Analyze direct materials, direct labor, and manufacturing overhead (DM, DL, MOH) to ensure proper allocation and cost flow.
-Examine operational expenses to identify inefficiencies and recommend cost-effective solutions.
- Inventory & ERP Management
-Oversee inventory valuation and costing, ensuring accurate tracking in the ERP system.
-Ensure proper cost flow assumptions (FIFO/LIFO/Weighted Average) are reflected in the ERP.
-Create and manage item codes and warehouse setups in the ERP system.
-Validate that production costs are accurately recorded in cost of sales and inventory.
-Prepare monthly, quarterly, and annual cost forecasts and compare them against actual performance.
-Analyze and report key metrics including profit margins, contribution margins, and COGS.
-Investigate variances and highlight key cost trends and performance indicators.
- Period-End Closing & Business Support
-Assist in month-end and year-end closings related to cost accounting.
-Provide insights and financial analysis to support decision-making and assess profitability of business opportunities.
-Collaborate with production, purchasing, and sales teams to gather data, analyze costs, and implement savings initiatives.
-Continuously identify and recommend improvements in costing processes and systems to enhance efficiency and profitability.