Cost Accountant

JK Tyre & Industries Ltd. · India

Job Purpose

To ensure accurate product costing, inventory valuation, cost analysis, and cost control across manufacturing operations. The role supports management decision-making through detailed cost reports, variance analysis, budgeting, and profitability assessment while ensuring compliance with accounting standards and internal controls.

Key Responsibilities

1. Product Costing & Cost Analysis

• Prepare and maintain product-wise costing for all tyre categories and SKUs.
• Develop standard costing models for raw materials, chemicals, fabrics, steel cords, carbon black, rubber compounds, and other production inputs.
• Calculate and monitor standard cost, actual cost, and cost variances.
• Analyze cost per tyre, cost per kg, and process-wise manufacturing cost.
• Conduct cost-benefit analysis for new products and product modifications.

2. Manufacturing Cost Control

• Monitor consumption of raw materials, packing materials, fuel, power, and consumables.
• Analyze material yield, wastage, scrap generation, and process losses.
• Identify cost-saving opportunities and support continuous improvement initiatives.
• Review machine utilization and capacity-related cost implications.
• Support plant management in reducing conversion costs.

3. Inventory & Stock Verification

• Ensure accurate valuation of Raw Material, WIP, Finished Goods, Stores, Spares inventory.
• Reconcile inventory records with finance books and ERP (SAP) records.
• Participate in monthly stock verification and annual physical inventory counts.
• Analyze slow-moving, non-moving, and obsolete inventory.

4. Budgeting & Forecasting

• Assist in preparation of annual budgets and rolling forecasts.
• Monitor actual performance against budgets.
• Analyze budget variances and provide recommendations to management.
• Prepare cost center-wise expense reports.

5. Variance Analysis

• Perform detailed analysis of:
• Material Price Variance (MPV)
• Material Usage Variance (MUV)
• Labour Cost Variance
• Power & Fuel Variance
• Overhead Variance
• Production Yield Variance
• Present key findings and corrective actions to management.

6. MIS & Management Reporting

• Prepare daily, weekly, and monthly costing MIS.
• Generate product profitability and customer profitability reports.
• Prepare plant performance reports covering:
• Production Cost
• Conversion Cost
• Material Consumption
• Yield Analysis
• Cost Variance Reports
• Provide analytical support to management for strategic decisions.

Educational Qualification

• CMA (Cost & Management Accountant)

Experience

• 5-6 years of experience in Manufacturing Costing.
• Experience in Tyre, Rubber, Auto Components, Chemical, FMCG, or Process Manufacturing Industry preferred.
• Hands-on experience in ERP (SAP) systems and advanced Excel.