JOB DESCRIPTION

Costing Accountant

Department

Finance

Reports To

Finance Manager

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Job Purpose

The Costing Accountant is responsible for product costing, inventory accounting, manufacturing cost control, cost analysis, and month-end costing activities while ensuring compliance with company policies and accounting standards.

This role plays a key part in supporting management decision-making through accurate cost reporting and analysis. The position also supports Business Central implementation, factory start-up activities, and the establishment of costing and inventory control processes for a growing manufacturing operation.

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Key Responsibilities

1. Product Costing & Cost Analysis

• Calculate and maintain standard costs for products and components.
• Review and update costing structures, BOMs, labor rates, and overhead allocations.
• Analyze material, labor, and manufacturing overhead costs.
• Monitor and investigate cost variances, including material usage, labor efficiencies, scrap, and yield variances.
• Prepare monthly costing reports, margin analysis, and profitability reports.
• Support quotation costing and new product costing exercises.
• Provide cost analysis and recommendations to improve profitability and operational efficiency.

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2. Inventory Accounting

• Monitor inventory valuation and ensure accurate costing of raw materials, work-in-process (WIP), and finished goods.
• Reconcile inventory sub-ledgers with the General Ledger.
• Process inventory adjustments and stock movements.
• Review inventory reserves, slow-moving inventory, and obsolescence provisions.
• Coordinate periodic cycle counts and annual stock takes.
• Investigate inventory discrepancies and implement corrective actions.
• Ensure inventory transactions comply with internal controls and accounting policies.

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3. Manufacturing Cost Control

• Analyze production costs and manufacturing performance.
• Monitor overhead absorption and allocation methodologies.
• Review production efficiency, scrap rates, material consumption, and operational cost performance.
• Partner with Production, Engineering, Supply Chain, Warehouse, and Operations teams to identify cost-saving opportunities.
• Support annual budgeting, forecasting, and cost planning activities.
• Prepare manufacturing cost reports and management analysis.

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4. General Ledger & Month-End Closing

• Prepare and post costing-related journal entries.
• Record inventory, accrual, and cost allocation adjustments.
• Perform inventory and cost-related balance sheet reconciliations.
• Ensure timely and accurate month-end and year-end closing activities.
• Support financial reporting requirements related to inventory and manufacturing costs.
• Maintain accurate accounting records and supporting schedules.

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5. ERP (Business Central) & System Setup

• Support Business Central implementation and stabilization related to inventory and costing modules.
• Maintain costing master data, inventory master data, and product costing structures.
• Validate costing and inventory transactions within the ERP system.
• Participate in system testing (UAT), process improvement initiatives, and data migration activities.
• Assist in establishing costing policies, procedures, and reporting frameworks for new operations.
• Support ERP enhancements to improve costing accuracy and reporting efficiency.

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6. Factory Start-Up & Process Establishment

• Participate in factory set-up and finance process establishment activities.
• Develop and implement costing procedures, inventory controls, and accounting workflows from the ground up.
• Establish standard costing methodologies for products and manufacturing operations.
• Support the setup of BOM structures, inventory management processes, and reporting mechanisms.
• Work closely with cross-functional teams to ensure operational readiness and financial control during the start-up phase.
• Recommend and implement best practices for manufacturing accounting and cost management.

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7. Internal Control & Audit Support

• Maintain proper accounting documentation and supporting records.
• Ensure compliance with company policies, accounting standards, and internal control requirements.
• Support internal and external audits.
• Strengthen inventory and costing controls to minimize financial and operational risks.
• Identify process improvement opportunities to enhance efficiency and accuracy.

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Qualifications

• Bachelor's Degree in Accounting, Finance, or related field.
• Minimum 5-8 years of experience in Accounting or Finance.
• Hands-on experience in:
  • Cost Accounting / Costing
  • Inventory Accounting
  • Manufacturing Accounting
  • General Ledger
• Experience in a manufacturing environment is required.
• Experience with ERP systems (Business Central, SAP, Oracle, Dynamics, or similar) is preferred.
• Experience in setting up costing systems, inventory controls, accounting processes, or ERP systems for a newly established company, factory, or manufacturing operation is highly preferred.
• Previous involvement in factory start-up, greenfield projects, ERP implementation, or system migration projects is a strong advantage.
• Strong analytical and problem-solving skills.
• Advanced Excel skills preferred.
• Good communication and stakeholder management skills.
• Good English communication skills (spoken and written) are required.

 

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Manpower is committed to a safe, secure, and transparent hiring process. We will never request any form of payment, banking details, or sensitive personal information at any stage of recruitment.

If you receive any suspicious communication claiming to be from Manpower, please report it immediately to: [email protected]

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