OVERVIEW OF POSITION
The Cost Accountant is responsible for ensuring accurate recording of inventory transactions, proper cost allocation, and continuous monitoring of stock levels to support effective financial control. This role verifies purchase prices, reviews cost data for accuracy, and prepares timely cost and inventory reports to assist management in decision- making, budgeting, and forecasting.
Duties may include but are not limited to:
Record inventory transactions accurately and on time.
Prepare cost and inventory reports, including variance analysis and management reports.
Collaborate with purchasing, warehouse, and operational departments to ensure smooth cost control processes.
Ensure compliance with internal policies, accounting standards, and audit requirements.
Maintain proper documentation for all cost and inventory transactions.
Assist with cost projections and ad hoc analysis for management decision- making.
Verify purchase prices, review supplier invoices, and ensure correct costing of materials and supplies.
Support annual budgeting and periodic forecasting by providing accurate cost data.
Monitor stock levels and investigate discrepancies with operations and warehouse teams.
Allocate direct and indirect costs to appropriate cost centers and accounts.
KEY FUNCTIONS
Inventory and Cost Control
Conduct periodic stock checks and work with operations to resolve variances.
Ensure accurate valuation of inventory and cost of goods sold.
Monitor, record, and reconcile all inventory movements.
Cost Analysis and Reporting
Prepare cost reports and variance analysis on a regular basis.
Provide insights and recommendations to management to optimize costs.
Identify trends in cost fluctuations and propose corrective actions.
Compliance and Control
Support internal and external audits by preparing cost- related documentation.
Adhere to company policies, procedures, and accounting standards.
Collaboration and Communication
Act as the main point of contact for cost and inventory- related inquiries.
Communicate clearly with cross- functional teams to ensure alignment on costing matters.
