Cost Accountant

Flowserve; Coimbatore District; On-site; INR 900,000 - 1,300,000; Full time

Benefits offered by this job

Friendly environment

Career development

Job summary

Flowserve in Coimbatore seeks a Cost Accountant who will own inventory and cost accounting for the plant, reviewing costing processes with cross-functional Operations. You will ensure POC revenue aligns with Revenue policy, US GAAP and Local GAAP.

The role covers cost analysis from bidding through revenue recognition, reporting margin variances promptly, and identifying root causes of low margins while proposing cost-effective improvements.

Qualifications

• CMA with 3 years' experience or CMA Inter with 5+ years in cost accounting.
• Experience in manufacturing cost accounting and BOM analysis.
• Strong analytical skills and attention to detail.
• Proficient in cost reporting under US GAAP and CAS.

Responsibilities

• Prepare cost sheet and product profitability statements.
• Track POC progress per revenue policy and Ind AS.
• Analyze costs from bidding to revenue recognition; report variances.
• Identify root causes of low margins and suggest improvements.
• Review costing processes and establish new procedures aligned with policy.
• Coordinate with Supply Chain, Manufacturing, Planning, and Engineering.
• Maintain SOX controls and cost records per CAS.

Skills

Analytical mindset

Attention to detail

Cross-functional collaboration

English communication

Problem solving

Cost accounting

Education

CMA (Cost & Management Accounting)

CMA Inter

Tools

Oracle

ERP systems

MS Excel

MS PowerPoint

Job description

Job Summary:

The Cost Accountant will be the primary owner of inventory and cost accounting for Coimbatore plant, supporting related cross-functional groups in Operations by reviewing / establishing costing processes and procedures.

Cost Accountant is responsible for recognition of POC revenue and ensures it is complying with Revenue policy, USGAAP and Local GAAP.

This position is responsible for analyzing, monitoring / tracking and controlling the cost of product from bidding stage till Sales recognition and reporting the reasons for variance in margins in advance to the management.

This Position is responsible for analyzing low margin products and report the reasons for low margins. Suggest better alternatives for improving the margins by thoroughly understanding the cost structure of the various components in the product.

This Position is responsible for analyzing the BOM with required inventories and suggesting usage of available inventories with some modifications by thoroughly understanding the various component requirement for the products we assemble.

This Position should analyze and suggest the cost benefit alternatives to the organization. Best methods to improve margins and suggest optimal absorption methods.

Responsibilities & Requirements:

• Preparation of cost sheet and product wise profitability statement.
• Monthly track of POC progress as per revenue policy and IndAs.
• Analyze cost of products at various levels from bidding stage till sales is recognized and regular update to the management on the variances in margins on a timely manner.
• Explore and analyze root causes for low margin products and propose process changes to improve margins.
• Review the existing costing process and procedures, suggest for any changes. Establish new process in line with cost accounting rules and internal policy.
• Review of information provided by operations to be used as a base on Costs and Margins for Percentage-of-Completion and Point-in-Time projects.
• Work cross-functionally with Supply Chain, Manufacturing, Planning, Project Management, and Engineering to complete all job responsibilities on a timely basis.
• Continuous review and analysis of hourly rates, overheads, absorption levels and reporting the reasons, suggest improvements to reduce the variances.
• Analysis, comparison and reporting of material consumption and production hours against plan/forecast at overall products.
• Contribute to process improvements regarding all aspects of production cost accounting and related reporting.
• Ensure Low-Cost Margin, Excess and Obsolete, Capitalization of Manufacturing Variances policies are met, and their accruals are accounted properly and timely.
• Perform SOX controls assigned to area of responsibility.
• Maintenance of Cost Records as per CAS & timely completion of Cost Audit.
• Responsible for closure of inventory module, inventory physical count metrics, review Discrete jobs (work order) closure and job variance on closed WIP.
• Responsible for closure of project module, project cost cleanup, deferred revenue cleanup, unbilled revenue cleanup and other adhoc requirements.
• Adhoc reporting requirement from management.

Preferred Experience / Skills:

• A CMA with 3 years / CMA Inter with 5+ years of relevant cost accounting experience at manufacturing companies (engineering will be preferred).
• Good knowledge of manufacturing processes and material flows as well as related order accounting systems and processes.
• Analytical mindset, high affinity for numbers and willingness to work in detail with ability to work independently and solve complex costing issues.
• Knowledge in Oracle is added advantage to the profile exposure to other ERP system will be a plus.
• Sound Knowledge of MS office especially MS Excel & MS Power Point.
• Good command on written, spoken English and presentation Skills.

What we can offer you:

• Friendly multicultural environment and team events.
• Career development and training opportunities.