Cost Accountant / Senior Cost Accountant

Overall:

• Costing and budgeting
• Variance analysis
• Standard cost setting
• Analysis of actual cost
• Inventory management
• Account payable function

Job Responsibilities:

• Collaborate with business units, operations, and supply chain teams by providing accurate financial insights for management of inventories and manufacturing cost-related matters.
• Work extensively with the procurement and production team in handling product costing to develop actual cost/ standard cost models, maintain periodic cost revision exercises, and ensure accuracy in the Bill of Materials.
• Periodic review and analysis of production, manufacturing and price variance to ensure effective cost control.
• Monitor production yields, scrap rates, and wastage, providing data-driven insights to reduce waste and improve efficiency.
• Review and analyze fixed and variable cost reports, provide commentary on cost behavior patterns, and identify cost-saving opportunities.
• Track and record actual expenses for raw materials, direct labor, and manufacturing overheads as they occur.
• Responsible for inventory including physical inventory, inventory control and reconciling inventory module to general ledger and other tasks related to inventory and cost of goods sold.
• Actively participate in the annual budget, business plan and monthly rolling forecast process by providing updated cost information across different product lines and manufacturing lines.
• Participate in month-end closing activities, analyzing financial performance and budget vs actual result variance analysis.
• Perform balance sheet reconciliations for inventory accounts to ensure accuracy of the general ledger.
• Conduct thorough assessment of CEA/EA applications, analyze applicants’ justifications, provide constructive financial challenges to promote cost efficiency, and ensure expenditures remain within approved budget limits and company financial guidelines.
• Develop a strong understanding of data inputs in support of Standard Cost setting
• Support accounting tasks as needed and participate in special projects such as system upgrades, e-invoicing implementation, and UAT testing Involved in ERP system process improvement. Leverage capabilities and identify areas for process improvement.
• Support external audit and tax preparation functions as relates to cost accounting.
• Maintain internal control documentation, provide government and statistic reports, assist in annual audit and tax reporting.
• Liaise with internal/external stakeholders as and when necessary.
• Perform people management responsibilities, which include planning, assigning tasks, publish KPI's related to the team's process area, coaching and development.
• Ad-hoc assignments to be assigned by the superior / management from time-to-time.

Job Requirements:

• Bachelor’s degree in accounting/ finance
• Professional qualification (CIMA/ ACCA / CPA)
• 5 - 8 years relevant working experience with a minimum of 3 years in manufacturing costing and a strong understanding of manufacturing processes and Bill of Materials (BOM).
• Experience in the oil and gas industry is an advantage.
• Experience in Oracle ERP system (cost module, AP module, internal orders, BOM and etc). Experience in system implementation is advantageous.
• Strong sense of responsibility, independence, and motivation
• Strong knowledge of financial reporting standards, tax regulation, laws, bank matters and any other compliance requirements
• Strong analytical and problem-solving abilities.
• Meticulous and pays attention to details.
• Good knowledge of Microsoft applications, such as strong working knowledge & skill in Excel
• Able to communicate in Malay, English
• Candidate who able to communicate in Mandarin and liaise with regional level and oversea stakeholders from China is an added advantage