The Senior Costing Accountant is responsible for ensuring accurate and reliable product costing across the manufacturing operations, maintaining costing master data in SAP, analyzing manufacturing variances, and ensuring proper valuation of inventory, WIP, and COGS.
The role works closely with Production, Supply Chain, Procurement, Warehouse, and Finance to provide actionable cost insights, strengthen cost controls, and improve manufacturing efficiency and product profitability.
RESPONSIBILITIES- Prepare, review, and maintain standard costs for finished goods, semi-finished goods, and manufactured materials.
- Execute and validate SAP standard cost estimates and cost releases.
- Review cost components including direct materials, packaging, labor, machine costs, and manufacturing overhead.
- Support costing of new products, new SKUs, and changes in manufacturing processes.
- Perform cost simulations and assess the financial impact of changes in raw material prices, BOMs, routings, production volumes, and overhead rates.
- Review and validate costing-related master data in coordination with Operations, including:
- Bills of Materials (BOMs)
- Routings / Recipes
- Work Centers
- Activity Types & Rates
- Cost Centers
- Production Versions
- Ensure changes to costing master data are properly authorized, documented, and reflected in SAP.
- Identify incorrect or outdated master data affecting product cost accuracy.
- Analyze actual versus standard manufacturing costs and provide clear explanations of key variances.
- Monitor and analyze:
- Material Price Variance
- Material Usage / Consumption Variance
- Yield Variance
- Labor & Machine Efficiency Variance
- Manufacturing Overhead Variance
- Production Order Variances
- Scrap and Waste
- Work with Production and Supply Chain to identify root causes and corrective actions, rather than merely reporting variances.
- Ensure accurate valuation of Raw Materials, Packaging Materials, WIP and Finished Goods.
- Review and reconcile inventory movements and costing transactions between SAP submodules and the GL.
- Review production orders for completeness and proper settlement.
- Ensure accurate recognition and reconciliation of COGS and manufacturing variances.
- Support calculation and review of provisions for slow-moving, obsolete, expired, and damaged inventory.
- Participate in physical inventory counts and investigate significant book-to-physical differences.
- Support SAP Product Cost Planning and Cost Object Controlling activities.
- Review production/process orders and ensure timely settlement and closure.
- Monitor costing-related SAP transactions and investigate abnormalities.
- Support Material Ledger / Actual Costing processes where applicable.
- Perform monthly analysis of actual product costs versus standard costs and explain significant deviations.
- Participate in SAP costing improvements, testing, and process enhancements.
- Execute costing-related month-end closing activities within the agreed Finance closing calendar.
- Ensure timely completion of:
- Production order settlement
- WIP calculation
- Variance calculation
- Overhead allocation/absorption
- Inventory valuation
- COGS reconciliation
- Costing-related GL reconciliations
- Investigate and resolve unusual balances or costing errors before financial closing.
- Prepare SKU/product-level cost and gross-margin analysis.
- Identify major cost drivers and cost-saving opportunities.
- Support Procurement with financial evaluation of sourcing alternatives.
- Support Operations in evaluating manufacturing efficiency and capacity utilization.
- Provide Finance and management with meaningful analysis of cost per unit, yield, waste, utilization, and profitability.
- Support budgeting and forecasting of production costs and manufacturing overheads.
- Appropriate segregation of duties over costing master-data changes.
- Documented approval of BOM, routing, activity-rate and standard-cost changes.
- Regular reconciliation between Inventory Subledger and GL.
- Timely investigation of abnormal production variances.
- Proper control over production-order settlement and closure.
- Compliance with company accounting policies, internal controls, and applicable IFRS requirements.
REQUIREMENTS- Bachelor's degree in Accounting, Finance, or Commerce.
- 3-5 years of relevant experience
- Strong practical knowledge of :Standard Costing, Product Costing, Inventory Accounting, WIP, COGS, Manufacturing Variances and Overhead Allocation.
- Hands-on experience with SAP CO / Product Costing is highly preferred.
- Experience with Material Ledger / Actual Costing is a strong advantage.
- Advanced Microsoft Excel skills.
BENEFITS- Social, Medical and Life Insurance
- Pension Coverage
- Profit Share
- Quarterly Balanced Scorecard
