Cost Accountant
Servotech Renewable Power System Limited
Job Description
KEY RESPONSIBILITIES
We are seeking a highly skilled Cost Accountant (ICWA/CMA) with 4+ years of experience in a mid-to-large scale manufacturing environment. The ideal candidate should have solid expertise in product costing, variance analysis, standard costing, budgeting, and cost control. Hands-on experience working on SAP and Tally is mandatory.
Key Responsibilities
1. Product Costing & Standard Costing
We are seeking a highly skilled Cost Accountant (ICWA/CMA) with 4+ years of experience in a mid-to-large scale manufacturing environment. The ideal candidate should have solid expertise in product costing, variance analysis, standard costing, budgeting, and cost control. Hands-on experience working on SAP and Tally is mandatory.
Key Responsibilities
1. Product Costing & Standard Costing
- Develop and maintain standard cost sheets for all products.
- Perform product-wise, process-wise, and batch-wise costing.
- Ensure accurate allocation of direct & indirect costs (labour, overheads, utilities).
- Update BOM (Bill of Materials) and routing changes in SAP for cost accuracy.
2. Cost Control & Variance Analysis
- Conduct cost variance analysis (material, labour, overhead).
- Identify cost leakages and recommend corrective actions.
- Monitor actual vs. standard cost performance and report deviations.
- Review material consumption and scrap/wastage trends.
3. Inventory & Manufacturing Operations Accounting
- Monitor WIP, RM, FG, and semi-finished inventory valuation.
- Perform monthly inventory reconciliation with stores and production teams.
- Ensure timely posting and validation of production entries in SAP.
- Support quarterly and annual physical inventory activities.
4. Budgeting & Forecasting
- Assist in the preparation of annual budgets and rolling forecasts.
- Track departmental budgets and highlight variances.
- Prepare cost simulations for new product development or process changes.
5. MIS & Management Reporting
- Prepare monthly cost MIS:
o Product cost statements
o Yield & efficiency reports
o Plant cost performance
o Contribution margin analysis
o Yield & efficiency reports
o Plant cost performance
o Contribution margin analysis
- Present actionable insights to management for decision-making.
6. Compliance & Audit Support
- Ensure compliance with Cost Accounting Standards (CAS).
- Prepare cost records and statements as per statutory requirements.
- Coordinate during internal, statutory, and cost audits.
Required Skills & Competencies
- ICWA/CMA mandatory with 4+ years of costing experience.
- Strong knowledge of manufacturing costing, BOM, routing, and cost allocations.
- Hands-on experience in SAP (CO Module) and Tally.
- Proficiency in advanced Excel (Pivot Tables, VLOOKUP/INDEX-MATCH).
- Analytical mindset with strong attention to detail.
- Ability to work cross-functionally with production, stores, and finance teams.
Education
- ICWA / CMA (mandatory)
- Additional qualification like M.Com/MBA (Finance) is a plus.
