Costing Executive

Job Summary:
The Costing Executive is responsible for analysing costs, conducting cost analysis, preparing budget
reports, and providing insights to improve cost-efficiency in our manufacturing processes. This role
requires a strong understanding of accounting principles, cost analysis techniques, and inventory
management.
Responsibilities:
 Cost Analysis: Analyse and evaluate the costs associated with production; monitor and
report on variances between actual and budgeted costs; identify cost reduction
opportunities and recommend strategies to optimize expenses.
 Budgeting and Forecasting: Assist in the preparation of annual budgets and periodic
forecasts; collaborate with cross-functional teams to gather relevant financial data for
budgeting purposes; provide insights to improve accuracy in budgeting and forecasting
processes.
 Inventory Management: Monitor and track inventory levels, ensuring accuracy in valuation
and reconciliation; perform periodic inventory audits to ensure proper accounting of raw
materials and finished goods; evaluate slow-moving or obsolete inventory and propose
strategies for clearance.
 Cost Control and Reporting: Develop and maintain cost accounting procedures and controls;
prepare detailed cost reports, including cost of goods sold (COGS) and gross margin analysis;
generate cost variance analysis reports and recommend corrective actions.
 Product Costing: Calculate and review the standard and actual costs of products; collaborate
with engineering and production teams to ensure accurate cost allocation to products;
participate in the determination of pricing strategies based on accurate cost information.
 Process Improvement: Collaborate with cross-functional teams to identify process
inefficiencies and recommend improvements; participate in cost optimization initiatives,
suggesting ways to enhance productivity and reduce waste.
 Compliance and Auditing: Ensure compliance with accounting standards, regulations, and
internal policies; assist in internal and external audits related to cost accounting processes.
 Ad hoc Analysis: Perform ad hoc financial analysis as required to support decision-making
and strategic initiatives.