Cost and Management Accountant

Medha Servo Drives; Hyderabad; On-site; INR 500,000 - 900,000; Full time

Job summary

Medha Servo Drives is seeking a Cost Accountant with 2-6 years of experience to drive product costing, BOM valuation, and cost sheet preparation. The role involves SAP-MM/PP/CO responsibilities and close coordination with multiple internal teams to ensure accurate costing and postings.

The candidate will handle material valuation, inventory accounting, and month-end activities, contributing to cost control and financial accuracy across production orders and processes.

Qualifications

• 2-6 years of experience in cost accounting or related finance roles.
• Strong understanding of standard costing, BOM valuation, and cost sheet processes.

Responsibilities

• Prepare and maintain standard product costs and cost sheets for finished and component goods.
• Manage SAP MM/PP/CO modules related to material master, valuation, and postings.
• Perform month-end and year-end closing activities including cost settlements and variance analysis.
• Coordinate with procurement, production, planning, stores, quality, and finance to ensure accuracy of cost data and SAP records.

Job description

Position: Cost Accountant

Experience: 2-6Years

Roles & Responsibilities:

(Product Costing, SAP Material Master, Valuation & Consumption Management)

1. Product Costing & Cost Sheet Preparation Develop and maintain standard product cost sheets for all finished goods, semi-finished goods, and components. Compute BOM-based material costs. Perform periodic cost roll-ups and simulate impact of changes in BOM, process, batch size, or price revisions. Monitor actual vs. standard cost variances 2. SAP Responsibilities (MM, PP, CO Modules) A. Material Master Management Ensure accuracy of Material Master data in SAP including: Material type, base unit of measure, valuation class Standard price / Moving Average Price (MAP) Procurement type, MRP views, BOM assignment Co-ordinate with MM/PP teams for creation and changes in material master to ensure correct valuation and consumption posting. Validate BOM components, scrap factors, and routing details used in cost estimation. B. Material Valuation & Inventory Accounting Set up and monitor valuation class, valuation type, and price control (S Standard, V Moving Avg) as per company policy. Review MAP fluctuations, identify anomalies and ensure corrective actions (price updates, GR corrections, PO amendments). Conduct WIP valuation and month-end closing activities including settlement of production orders in SAP. Perform inventory revaluation during standard cost updates or annual cost roll-up. C. Consumption & Production Posting Monitor correctness of material consumption through: Backflush consumption Manual issue postings Reservation/production order issue postings Analyse consumption variances and coordinate with store, production and planning teams to avoid negative stock, over-consumption or incorrect BOM usage. Review production order confirmations, yield vs. scrap, and ensure accurate posting of material usage in SAP (MB51, MB5B, CKM3N reports).

3. SAP Month-End / Year-End Closing Execute standard cost estimates (CK11N, CK40N). Release standard costs as per company calendar. Perform order settlements, overhead calculation, WIP calculation, and variance calculation (KKS1/ KKS2/ KO88). Facilitate audit requirements by supporting statutory & internal audit teams with cost-related schedules.

4. Cross-functional Coordination Work closely with Procurement, Production, Planning, Stores, Quality, and Finance teams to ensure accuracy of cost, consumption, and SAP data.