Job Scope:
The role of a Costing Manager involves planning, controlling, and analyzing internal costs to aid in business decision-making and maximize profitability.
Job Descriptions:
- Cost Analysis: Analyze the costs associated with various business activities, such as production costs, raw material costs, labor costs, and operating expenses.
- Cost Control: Develop and implement cost-control measures to ensure that expenses align with the allocated budget, and manage financial risks that may affect projects.
- Budgeting and Forecasting: Prepare budgets for projects and departments, using historical data to forecast future financial needs.
- Reporting: Create detailed cost reports for senior management to provide clear insights into the financial performance of projects or departments.
- Variance Analysis: Analyze the difference between standard costs and actual costs to identify root causes and propose corrective actions.
- Bill of Materials (BOM) Development: Review and update the Bill of Materials to ensure it accurately reflects production costs.
- Inventory Management: Oversee inventory counts and reconciliations to ensure the accuracy of accounting data.
- Strategic Advising: Provide insights and recommendations to management for making strategic decisions, such as pricing or improving production processes.
- Cross-functional Collaboration: Work closely with other departments, such as production and sales, to gather data for cost analysis.
Qualifications and Skills:
- Education: A Bachelor's degree or higher in Accounting, Finance, or a related field is generally required.
- Experience: Previous experience in cost accounting or financial analysis is necessary.
- Analytical Skills: Strong analytical and problem-solving skills are crucial for interpreting large volumes of financial data.
- Attention to Detail: Meticulous attention to detail is essential to prevent costly errors.
- Communication Skills: The ability to effectively communicate complex financial information to both financial and non-financial stakeholders is vital.
- Language: Must be able to communicate in English well.
- Background: Manufacturing background would be a plus.
