Assistant Costing Accounts Manager

1. Cost Accounting: o Prepare and maintain accurate cost records for all departments in the textile manufacturing facility, including production, Labour, overhead, and material costs. o Perform departmental cost analysis, ensuring cost allocations are consistent, accurate, and in line with company policies. o Calculate standard costs for materials, Labour, and overhead, and ensure they are updated regularly to reflect actual costs. 2. Costing Methods & Data Collection: o Derive, implement, and refine cost accounting methods to accurately collect and analyse data for costing purposes. o Work closely with the operations team to ensure data is correctly collected from production activities, machine usage, and Labour hours for accurate costing. o Develop and maintain cost databases for accurate tracking and analysis of production-related expenses. 3. Cost Reporting & Analysis: o Prepare detailed monthly, quarterly, and annual cost reports for management review, highlighting variances and areas for cost optimization. o Analyse cost data and trends to provide insights into areas for cost reduction, efficiency improvements, and margin optimization. o Assist in budget preparation and ensure costs are monitored against budgeted figures. 4. Collaboration & Support: o Collaborate with department heads and factory floor managers to identify and address issues impacting cost structures. o Assist the senior costing manager in developing and implementing cost-saving strategies. o Provide support for audits, both internal and external, ensuring that cost-related data is accurate and transparent. 5. Process Improvement: o Review and recommend improvements to costing processes and systems to enhance the accuracy and timeliness of reporting. o Continuously improve methods for tracking Labour, material, and overhead costs for better precision and efficiency. 6. Compliance & Best Practices: o Ensure compliance with accounting standards, regulatory requirements, and company policies. o Stay up to date with industry best practices in cost accounting and implement them in daily operations.