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Job Overview
The Senior Cost Accountant will oversee all cost accounting activities within a metal manufacturing environment. This role is responsible for analyzing production costs, maintaining accurate cost structures, monitoring material and process efficiencies, and supporting strategic decision-making. The position plays a critical part in optimizing yields, controlling variances, and ensuring the integrity of cost and inventory data across operations.
Key Responsibilities
Costing & Analysis
● Maintain and update cost structures for raw materials, WIP, and finished goods within the SAP system.
● Conduct detailed cost analysis of production processes including furnace operations, scrap management, melting loss, machine-hour utilization, fabrication, and consumables usage.
● Perform standard costing, cost roll-ups, and implement standard revisions based on BOM/routing changes.
● Analyze material, labour, and overhead variances and provide root-cause insights with corrective action recommendations.
Inventory & Valuation
● Track and review inventory valuation for RM, SFG, FG, scrap, rejects, and rework items.
● Coordinate with Production, Purchase, and Stores teams to ensure stock accuracy, cycle counts, and physical verification.
Reporting & Controls
● Prepare monthly cost reports, budget vs. actual analysis, and other MIS reports for management.
● Support capital expenditure evaluations and plant-wide cost reduction initiatives.
● Ensure compliance with accounting standards, internal controls, and audit requirements.
● Identify areas of wastage and drive cost-saving opportunities across the plant.
New Product Development
● Conduct cost estimation, quotation preparation, and price simulations for new product development.
Skills & Competencies
● Strong knowledge of metal manufacturing cost accounting, inventory management, and costing methodologies.
● Proficiency in SAP (manufacturing modules preferred).
● Excellent analytical skills and financial modeling capability.
● Advanced Microsoft Excel skills; experience in reporting/BI tools is an advantage.
● Effective communication and strong cross-functional collaboration ability.
Qualifications
● Graduate/Postgraduate in Commerce, MBA (Finance), or CMA (Inter/Final preferred).
● 5–8 years of experience in cost accounting within metal manufacturing industries (Steel, Foundry, Aluminium, Machining, Forging, etc.).
Key Performance Indicators (KPIs)
● Accuracy of process and product costing.
● Reduction in cost variances and achievement of cost optimization targets.
● Inventory accuracy and scrap control effectiveness.
● Timely submission of monthly MIS and adherence to audit requirements.
Work Environment
● Plant-based role with close coordination across production and supply chain teams.
● Requires regular floor audits, physical verification, and hands-on engagement with operations.
