JOB Description
Job Title: Cost Accountant
Department: Finance & Accounts
Reports To: Finance Manager / CFO
Job Purpose:
To manage and control product costing, plant cost accounting, and inventory valuation for TIEA's manufacturing operations, ensuring accurate cost data to support pricing, budgeting, and margin decisions across the precision connector manufacturing process.
Key Responsibilities
1) Product & Process Costing
- Prepare and maintain standard costing for all products, including raw material, labour, and overhead cost components.
- Conduct periodic cost variance analysis (material, labour, and overhead) and report deviations to management with root-cause explanations.
- Work with Production and Quality teams to track scrap, rework, and rejection costs, and recommend cost-control measures.
- Support costing for new product development, tooling, and customer RFQs/quotations.
2)Inventory & Manufacturing Accounting
- Maintain accurate inventory valuation (raw material, WIP, finished goods) in line with costing policy and applicable accounting standards.
- Conduct periodic physical verification of inventory and reconcile with book records; investigate and resolve discrepancies.
- Monitor and account for BOM (Bill of Materials) accuracy in coordination with Production Planning and Stores.
- Track machine/plant utilization and absorption of overheads across cost centers.
3)Budgeting, MIS & Reporting
- Assist in preparation of the annual manufacturing budget and periodic forecasts (material cost, conversion cost, overheads).
- Prepare monthly cost MIS reports, product-wise profitability statements, and cost trend analysis for management review.
- Support month-end and year-end closing activities related to cost of goods sold (COGS) and inventory accounting.
4)Compliance & Audit
- Ensure costing records and cost accounting policies comply with applicable statutory and Cost Audit requirements (where applicable).
- Coordinate with internal and statutory auditors for cost audits, providing schedules, reconciliations, and supporting data.
- Maintain proper documentation and audit trail for all costing workings and adjustments.
5)Cross-Functional Coordination
- Liaise with Production, Purchase, Stores, and Quality departments to ensure accurate and timely cost data flow.
- Support pricing decisions by providing product-wise cost breakdowns to Sales and Management as required.
Qualifications & Experience
- Bachelor's degree in Commerce/Accounting; ICWA / CMA (Cost & Management Accountant) preferred or in progress.
- 3–5 years of relevant cost accounting experience, with mandatory exposure to a manufacturing environment (automotive, electrical, precision components, or similar preferred).
- Hands-on experience with standard costing, inventory valuation, and variance analysis in an ERP environment.
Skills & Competencies
- Strong working knowledge of cost accounting principles and manufacturing cost structures.
- Proficiency in ERP systems (e.g., Tally, SAP, or similar) and advanced MS Excel skills.
- Strong analytical ability with attention to detail and accuracy.
- Good coordination and communication skills to work across Production, Purchase, and Finance functions.
- Ability to work independently, meet reporting deadlines, and manage multiple costing cycles simultaneously.
Experience: 3 – 5 Years
Pay: ₹500,000.00 - ₹800,000.00 per year
Benefits:
- Commuter assistance
- Food provided
- Health insurance
- Life insurance
- Paid sick time
- Provident Fund
Work Location: In person
