Cost Controller

Job Description 

Purpose

Costing decision and Level of Inventory to be maintained. Providing Indicators of Cost of Poor Execution, Cost Improvement Plan. To ensure that the activities are performed with in the guidelines of policies and procedures of the Organization and Accounting Policies. To Reduce the Working Capital and improve the Cash Flow.

Key responsibilities:

Financial Closure: Ensuring all Material Movements are accounted to execute the costing run in order to ensure the Costing and Inventory Valuation from SAP; Review of Shop Floor Stock, Stock in Transit, Review of pending GRN provisions, pending STO’s, WIP orders . Valuation of COGS cut-off Stocks, NRV, Inventory Provisioing , Profit elimination and Circulation of Costing MIS,  align with front-end teams and resolve the queries from front-end planners.

Product Cost Trend: Preparation of product costs for Mfg plants/LL plants & TP products, deeper analysis on month on month cost variances

Ledger Material Consumption (LMC vs TMC)  - Reconciliation with Theoretical material consumption

Quarterly AR’s: Gross margin preparation, quarter on quarter gross margin movement analysis, Quarter on quarter analysis of product Cost variances and analysis OVC variance. Co-ordinating with central CPT team to complete the activity as per timelines

Sox Audits/Internal audits/Statutory audits: As a coordinator in SOX Documentation and Audit for Inventory and Production Process in order to ensure that there are no control lapses and failures, coordinating with Statutory Audit on Quarterly/Yearly Closure relating to Inventory and Production in to order to ensure compliance and no lapses.

 Analysis of Other Variable costs: Regular review of issue of materials to cost center, identify the abnormal transactions and review of exhibit batches Costing

Costing MIS circulation – Material cost Allocation to Frontend BU’s thru BPC

Profit Elimination -  for Stocks at Subsidiary

Cost Audit: Coordinating with Cost auditor, responsible for end-to-end cost audit, ensure that completion of cost audit within the timelines.  

NRV - Calculation and validation of NRV rates to maintain the Inventory at Cost or NRV whichever is lower

Cut off inventory - Review and validation of Cut off inventory

Support to various initiatives and Activities:  simplification of BPC MIS circulation, Automation of Manual workings etc.,

Operating Network:

Internal:  Costing Team, Controlling Team, Capex Team, Other CFTs in FTO –, SCM, Demand Planning Team, Capacity Planning Team.

External: Statutory Auditors, Cost Auditors

Education & Experience: 

Cost Accountant with at least 4-7 years of experience in Pharmaceutical Industry

Key Personal Attributes

·         In-depth Knowledge on Plant Operations and its impact on Cost. Knowledge of Cost Accounting Record Rules, Inventory Valuation Standards, IFRS

·         Networking

·         Influencing

·         Communication skills

·         Inter-personal Skills, People Management, Ability to draw insights

·         Creativity

Qualifications

CMA

4-7 Years experience