As an Associate Accounting Specialist/Functional Cost Accountant, You will be responsible for providing consistent superior cost accounting support Services and reporting to stakeholders. In this role, you will ensure accounting activity recorded within the Company’s records and books are accurate and complete. You will be responsible for Cost center expenses, Cost center budgeting, Inventory valuation, reporting, analyzing, and communicating functional/business activity results. You will also assist the function/business management teams in financial analysis necessary for decision-making using in-depth conceptual and practical knowledge in accounting and basic knowledge of related finance disciplines.
Responsibilities:
- Review of cost center spending to ensure accuracy and understand cost drivers.
- Review variances in spending vs budget and comparison periods and analyze root causes.
- Meet with functional leaders to explain cost center spending and convey opportunities for cost savings.
- Satisfy various reporting requests and analysis for function.
- Challenge second level leaders on spending
- Liaise between functional leaders and finance function.
- Record and monitor certain accounting entries during the monthly closing.
- Facilitate the inter-company re-billing process.
- Facilitate SOX compliance for Cost Accounting activities.
- Execute cost center allocations & recharges and analyze cost center recoveries & residuals.
- Cost center budgeting
- Product cost estimates (PCE)- ensure correct standard cost by resolving the costing errors and investigate/resolve variances (Monthly & quarterly)
- Inventory management via cycle counting- coordinate & reconciliation of physical inventory against system inventory as per frequency set by cycle counting indicators.
- Inventory management via stock take observation- physical stock count & reconciliation of physical v/s system stock
- Ensure Inventory valuation accuracy in different books like management books, tax books, Statutory books & as per lower of cost or market value principle.
- Review and identification of intercompany variances and taking corrective actions if any.
- Provide audit Support for internal & external cost accounting related audits.
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