Overview:
A Senior Costing & Pricing Accountant in our manufacturing firms, is playing a pivotal role in analysing, developing, and implementing costing and pricing strategies to maximize profitability and competitiveness.
He will collaborate closely with various departments to ensure accurate cost estimation, pricing models, and financial analysis. The ideal candidate will have a strong background in cost accounting within the manufacturing industries, exceptional analytical skills, and the ability to communicate complex financial information effectively.
Key Responsibilities:
- Cost Analysis and Estimation:
Analyze production costs, including direct materials, labor, and overhead, to establish accurate product costs.
Develop and maintain costing models to accurately estimate costs for new products, projects, and initiatives.
Conduct regular cost reviews and variance analysis to identify areas for cost optimization and efficiency improvements.
- Pricing Strategy Development:
Collaborate with sales, marketing, and senior management to develop pricing strategies aligned with business objectives and market conditions.
Conduct pricing analysis and market research to determine optimal pricing structures for products and services.
Evaluate the impact of pricing changes on profitability and market competitiveness.
- Financial Modelling and Forecasting:
Develop financial models to support pricing decisions, including scenario analysis, break-even analysis, and sensitivity analysis.
Assist in the preparation of annual budgets, forecasts, and long-term financial plans.
Provide insights and recommendations based on financial analysis to support strategic decision-making.
- Costing System Management:
Maintain and enhance the costing ERP system to ensure accurate allocation of costs and adherence to accounting standards.
Implement process improvements to streamline costing processes and enhance efficiency.
Train and support staff on costing methodologies and system usage.
Ensure compliance with regulatory requirements related to costing, pricing, and financial reporting.
Stay updated on accounting standards, regulations, and industry best practices relevant to costing and pricing in the manufacturing sector.
Bachelor’s degree in accounting, Finance, or a related field; CPA or CMA certification preferred.5+ years of experience in cost accounting, pricing analysis, or financial analysis within the manufacturing industry.Proficiency in cost accounting principles, costing methodologies, and financial modelling techniques.Advanced Excel skills and experience with ERP systems (SAP, Microsoft, Odoo); familiarity with cost accounting modules preferred.Strong analytical skills with the ability to interpret complex data and generate actionable insights.Excellent communication and interpersonal skills, with the ability to collaborate effectively across departments.Detail-oriented with a commitment to accuracy and precision in financial analysis and reporting.