Cost Accountant

Roles & Responsibilities

Job Summary

A Costing Accountant is responsible for analyzing, monitoring, and controlling company costs to improve profitability and support financial decision-making. The role involves preparing cost reports, tracking production expenses, and ensuring accurate cost allocation.

Key Responsibilities

. Analyze production costs, material costs, labor costs, and overhead expenses.

. Identify cost-saving opportunities and efficiency improvements.

Cost Allocation

. Allocate costs to products, departments, or projects.

. Accurate costing methods such as standard costing or activity-based costing.

Budgeting & Forecasting

. Assist in preparing budgets and cost forecasts.

. Monitor actual costs vs budget and explain variances.

Inventory Costing

. Monitor raw materials, work-in-progress (WIP), and finished goods costs.

. Work with inventory systems and ensure accurate stock valuation.

Cost Reporting

. Prepare cost reports, margin analysis, and profitability reports.

. Provide insights to management for decision-making.

Variance Analysis

. Compare standard cost vs actual cost.

. Investigate reasons for cost variances.

Process Improvement

. Recommend improvements to reduce waste and optimize production costs.

Coordination with Departments

. Work closely with procurement, production, and finance teams.

Compliance & Controls

. Ensure costing procedures follow company policies and accounting standards.

Required Skills

. Strong analytical and numerical skills

. Knowledge of cost accounting methods

. Excellent Excel skills

. Attention to detail

. Problem-solving ability

Qualifications

. Bachelor's Degree in Accounting, Finance, or Commerce

. Professional certification preferred (e.g., ..Association of Chartered Certified Accountants - ACCA, ..Institute of Management Accountants - CMA)

. Over 2 years experience in cost accounting
. Must be bilingual in English & Chinese to liaise with Chinese-speaking internal/external personnel