JOB OBJECTIVES
- Reporting directly to the Chief Financial Officer (CFO), the Cost Accounting Manager is responsible for establishing, monitoring, and analyzing the manufacturing costs of pharmaceutical products.
- The role plays a key part in evaluating product profitability, analyzing manufacturing variances, valuing inventory, and improving the financial performance of manufacturing operations.
- The Cost Accounting Manager works closely with the Production, Planning, Procurement, Quality, and Finance teams to ensure cost accuracy and support operational decision-making.
- This position does not involve direct employee supervision.
PRIMARY FUNCTIONS
Cost Accounting Management
- Establish, maintain, and review standard costs for raw materials, packaging components, labor, and manufacturing overhead.
- Perform periodic updates of standard costs in the ERP system
- Analyze actual manufacturing costs by product, batch, and production line.
- Participate in establishing manufacturing overhead absorption rates
- Analyze costs associated with new products and changes to manufacturing processes.
Manufacturing Variance Analysis
- Analyze variances between standard costs and actual manufacturing costs.
- Identify variances related to material consumption, manufacturing yields, labor, and overhead expenses.
- Assess the financial impact of rejected batches, material losses, rework, and product destruction.
- Collaborate with Production teams to identify the root causes of variances and recommend corrective actions.
- Develop key performance indicators (KPIs) to monitor manufacturing financial performance.
- Prepare profitability analyses by product, product family, or production line.
Inventory Management and Valuation
- Ensure accurate valuation of raw materials, work-in-progress (WIP), and finished goods inventories.
- Analyze inventory adjustments and their financial impact.
- Perform analyses and recommend provisions for obsolete, expired, or at-risk inventory.
- Collaborate with Planning and Procurement teams to identify financial risks associated with inventory levels.
- Contribute to improving inventory control processes and procedures.
Financial Closing and Management Reporting
- Prepare monthly analyses of manufacturing costs and production variances.
- Perform account reconciliations related to inventory and manufacturing costs.
- Participate in monthly and annual financial closing activities.
- Provide financial analyses to support budgeting and forecasting processes.
- Prepare supporting documentation required for internal and external audits.
- Ensure cost accounting practices comply with the company's financial policies.
