Job Summary
The Costing Manager is responsible for managing all cost accounting activities, with a strong focus on SAP-based costing, inventory valuation, and financial integration. The role ensures accurate product costing, supports operational efficiency, and provides strategic insights to improve profitability.
Key Responsibilities
1. Cost Accounting & Product Costing
- Develop and maintain standard costing within SAP (Material Ledger / Product Costing).
- Ensure accurate cost roll-ups including BOMs, routing, labor, and overhead.
- Perform cost estimates and update standard costs periodically in SAP.
- Monitor cost component structures and cost allocation methods.
2. SAP Costing & System Management
- Manage and optimize SAP CO (Controlling) and SAP MM (Materials Management) modules related to costing.
- Execute and validate standard cost runs, variance calculations, and settlement processes in SAP.
- Ensure proper integration between SAP FI, CO, MM, and PP modules.
- Support SAP enhancements, upgrades, and costing-related configurations.
- Work closely with IT and SAP consultants on system improvements.
3. Inventory Valuation & Control
- Oversee inventory valuation using SAP, ensuring compliance with IFRS/local GAAP.
- Monitor raw materials, WIP, and finished goods valuation in SAP.
- Lead physical inventory processes and reconcile with SAP records.
- Analyze and resolve inventory discrepancies and system issues.
4. Cost Analysis & Variance Reporting
- Perform detailed SAP-based variance analysis (price, usage, mix, yield).
- Analyze production variances and provide actionable insights.
- Prepare monthly costing reports directly from SAP and BI tools.
- Support operational teams with cost transparency and performance tracking.
5. Budgeting & Forecasting Support
- Provide cost data and assumptions for budgeting and forecasting cycles.
- Collaborate with FP&A using SAP data for cost projections and analysis.
- Track actual vs. standard costs and update forecasts accordingly.
6. Operational & Strategic Support
- Partner with production, procurement, and supply chain teams to optimize costs.
- Support pricing decisions using accurate SAP cost data.
- Evaluate cost implications of new products, CAPEX, and process changes.
7. Compliance & Audit
- Ensure costing practices comply with IFRS and internal policies.
- Support internal and external audits, particularly related to SAP data integrity.
- Maintain proper documentation for SAP costing configurations and processes.
Qualifications & Requirements
Education
- Bachelor's degree in Accounting, Finance, or related field
- Professional certification (CMA, CPA, ACCA) preferred
Experience
- 7–10+ years in cost accounting within a manufacturing environment
- Strong hands-on experience with SAP ERP, particularly:
- SAP CO (Controlling)
- SAP MM (Materials Management)
- SAP PP (Production Planning)
- Experience in standard costing, material ledger, and product costing in SAP is essential
Skills
- Advanced SAP costing and reporting capabilities
- Strong analytical and financial modeling skills
- Advanced Excel and familiarity with BI tools (e.g., Power BI, SAP BW)
- Strong understanding of manufacturing cost drivers
Key Competencies
- Strong SAP system expertise and process orientation
- Cost control and continuous improvement mindset
- Business partnering with operations and supply chain
- Attention to detail and data accuracy
- Leadership and team development
Reporting Line
- Reports to: Accounting Manager
- Direct Reports: Cost Lead / Inventory Accountant.
KPIs / Performance Metrics
- Accuracy of SAP standard costing
- Inventory valuation accuracy in SAP
- Variance analysis and cost control effectiveness
- SAP process efficiency and system utilization
- Audit compliance and data integrity
