Purpose of the Role
- To ensure the accuracy and reliability of cost data and information in order to aid informed decision making within company.
Role and Responsibilities
Cost Analysis and Management
- Manages monthly, quarterly and annual close processes, including the preparation of COGS and inventory journal entries, account reconciliations, accruals, excess and obsolete inventory reserve calculations and intercompany transactions
- Ensures the timeliness and accuracy of the monthly close including an understanding of all plant variances, impacts of inventory counts on results and cost centre charges
- Provides support to production in the analysis of these variances and in the development of product costs
- Prepares monthly, quarterly and annual product gross margin analysis, including variance commentary, and identification of process and cost saving opportunities
- Partners with financial planning and analysis and operations teams to coordinate budgeting and forecasting, including materials, labour and overhead expense forecasting, standard cost setting, etc.
- Maintains cost accounting and inventory systems
- Reconciles daily production and materials usage variance with production, QC and planning team.
- Assists in annual standard cost development including material, labour rates and overhead rates
- Conducts weekly, monthly and quarterly analysis of manufacturing costs
- Evaluates standard costing on an on-going basis and makes adjustments as required including annual roll in line with budget preparation. Includes review of bills of material and routing information
- Drives continuous improvement through trend reporting analysis and metrics management
- Maintains and improves processes and controls associated with manufacturing costs and inventory valuation
- Monitors all inventory prices in the material ledger and reports any abnormality.
- Leads monthly cost control reviews and tracks improvement plans
- Provides analysis and support for the program management analysis Analyses the accounts payable trade accounts monthly. Prepares and processes monthly journal entries resulting from accounts analysis Director
Inventory Management
- Develops and analyses inventory valuation and inventory roll up
- Oversees cycle counting process and leads the physical inventory process
- Monitors and reviews asset additions, transfers and disposals. Ensures complete and accurate supporting documentation
- Maintains accurate plant balance sheets. This includes timely reconciliation and physical observation of inventory
Record Keeping and Reporting
- Calculates and submits monthly progress billing for appropriate orders
- Prepares sales reports and GIT valuation
- Prepares maintenance cost analysis report