771 Variance Analysis jobs in India

Job Title: Cost Accounting Plant

Department: Finance & Accounts

Location: Srikakulam Plant

Reports To: Plant Finance Head / Corporate Finance

Job Purpose

To lead and manage Srikakulam and Ethakottas plant costing and management accounting function, ensuring accurate cost tracking, variance analysis, and actionable insights for decision-making. The role also ensures compliance with statutory requirements and supports business efficiency through robust cost systems.

Key Responsibilities

1. Costing & Accounting

• Implement and maintain accurate product and process costing systems
• Ensure proper inventory valuation and reconciliation
• Manage standard costing and monitor deviations
• Support preparation of annual budgets and cost estimates
• Drive automation and ERP enhancements for faster, accurate reporting

2. Reporting & Analysis

• Prepare and present periodic MIS reports (cost statements, profitability analysis, variance analysis)
• Conduct costbenefit analysis and highlight improvement opportunities
• Provide financial insights to support management decision-making
• Drive automation and ERP enhancements for faster, accurate reporting

3. Compliance & Audit Support

• Ensure adherence to Cost Accounting Standards (CAS) and statutory reporting requirements
• Coordinate with internal and statutory auditors for smooth audits
• Maintain compliance with the Companies Act, tax regulations, and industry guidelines
• Establish and monitor internal controls related to cost and accounting processes

Qualifications & Experience

• Education: CA / ICWA (Cost & Management Accountant)
• Experience:9–12 years of relevant experience in cost accounting in a manufacturing/plant environment.
• Skills Required:
• Strong analytical thinking and problem-solving
• Financial systems: Proficiency in ERP systems (SAP CO Module), COPA reports , advanced Excel, BI/reporting tools
• Variance analysis: Material, labour, overhead variances with actionable insights
• Strong knowledge of Cost Accounting Standards (CAS) and Companies Act requirements
• Ability to interpret data and provide business insights
• Understanding of manufacturing operations & supply chain to partner with business
• Communication & presentation skills – ability to convey financial insights clearly
• Collaboration & stakeholder management – work with operations, procurement, sales, and auditors

Are you a qualified CMA (ICWA) (mandatory) professional with more than 20 years of work experience and a results-driven individual capable of managing complex accounting routines, leading a team, and driving operational improvements while maintaining a high standard of accuracy and collaboration?

If you are a seasoned cost accounting professional with a passion for process excellence and global operations, we encourage you to apply.

This role is based in Chennai and it is a work from office role where you would be primarily working in US hours (5pm IST to 2am IST).

Job Summary:

We are seeking a highly experienced and detail-oriented Senior Cost Accounting Manager with over 20 years of experience in financial and cost accounting, inventory management, and financial close processes. The successful candidate will manage key costing routines, oversee financial close procedures, and collaborate with cross-functional teams to ensure accurate reporting, compliance, and timely issue resolution. The ideal candidate will have significant expertise in global inventory control, accounting for future obligations (e.g., warranty provisions), and driving process improvements to ensure operational efficiency and accuracy.

Key Responsibilities:

Cost Accounting & Routine Management:

• Oversee daily, weekly, and monthly costing routines to ensure they are completed timely and accurately.
• Manage and improve the financial close checklist, ensuring all tasks are completed without delays, especially in high-pressure periods.
• Identify and address bottlenecks and inefficiencies in costing processes, ensuring smooth execution and minimal disruption.

Financial Close & Journal Entries:

• Ensure proper accounting for inventory, including handling cut-off control and accurate journal entries for period-end close.
• Monitor and manage the creation of journal entries and reconciliations, ensuring they are done in a manner that supports future reporting needs.
• Ensure all financial close activities are completed per deadlines and that all reporting is accurate, particularly related to inventory and cost reporting.

Inventory Control & Reporting:

• Oversee global inventory validation processes, including vendor validations, physical inventory counts, and coordination across multiple time zones and locations.
• Ensure timely and accurate reporting on inventory metrics, including inventory turns and general inventory reporting.
• Work with operational teams to ensure inventory accuracy and resolve discrepancies post-close.

Provisions, Reserves & Future Obligations:

• Manage and account for inventory-related reserves and provisions, including warranty provisions and other future obligations.
• Ensure that journal entries and accounting procedures are set up to track future consumption and align with long-term reporting needs.
• Issue Resolution & Cross-functional Collaboration:
• Act as a business partner, working closely with operations teams to resolve discrepancies and financial issues post-close.
• Collaborate with stakeholders to ensure clear ownership of processes and resolution of issues promptly, especially during financial close periods.
• Ensure that any errors or corrections are properly tagged to the relevant orders to avoid double corrections.

Aged Assessment Management:

• Lead the process of assessing and working down aged financial items post-period end, collaborating with operational partners to address and resolve these issues in a timely manner.
• Team Leadership & Oversight:
• Manage and oversee a team responsible for daily cost accounting and financial close tasks, ensuring that all procedures are followed and deadlines are met.
• Provide guidance and leadership to the team, mentoring junior staff and ensuring they understand the broader business implications of their work.
• Ensure high-level oversight of day-to-day operations while focusing on strategic improvements.

Global Coordination & Vendor Relations:

• Manage the global schedule for inventory validations and ensure accurate data recording and reporting within the system.
• Oversee and validate physical inventory counts and ensure global alignment and consistency in inventory management practices.

Reporting & Compliance:

• Ensure all internal and external financial reporting related to cost accounting, inventory, and provisions is accurate and completed on time.
• Stay updated with accounting standards, regulations, and compliance requirements relevant to cost accounting and inventory management.

Process Improvement & Innovation:

• Continuously identify and implement process improvements to increase efficiency and accuracy in cost accounting, inventory control, and financial close processes.
• Lead efforts to integrate new technologies and systems, such as cloud-based solutions, into costing and financial accounting processes.

Qualifications:

• Education: qualified CMA (ICWA) mandatory.
• Experience: Minimum of 20 years of experience in cost accounting, financial close processes, inventory management, and financial reporting. Experience in a global manufacturing or production environment is highly desirable.
• Technical Skills:
• Extensive experience with accounting software and ERP systems (e.g., SAP, Oracle, or similar).
• Advanced knowledge of accounting standards, financial reporting, and cost accounting principles.
• Familiarity with cloud-based systems and transitioning accounting processes to new technologies.
• Leadership: Proven ability to lead teams, manage cross-functional collaboration, and mentor junior staff.
• Problem-Solving & Analytical Skills: Strong analytical skills with the ability to identify issues, resolve discrepancies, and implement improvements.
• Communication: Excellent communication skills, both written and verbal, with the ability to present complex financial information to senior management and non-financial stakeholders.

Personal Attributes:

• Strong leadership and interpersonal skills with a proven ability to collaborate across departments.
• Detail-oriented, with a strong commitment to accuracy and meeting deadlines under pressure.
• Highly adaptable and capable of driving change in a dynamic, global organization.
• Proactive in identifying opportunities for process improvement and operational efficiency.

The role is to analyze and monitor the cost of production, operation, and services. The role would be preparing cost reports, and providing cost analysis to management for forecasting, budgeting, decision-making for cost optimization and maximizing profits.

• Develop and maintain cost accounting policies and controls that ensures accurate cost allocation, tracking and reporting
• Study and collect data to determine costs of business activities such as raw material purchases, inventory, labor, and overheads
• Prepare costing for projects during bidding
• Prepare pre-production costing and actual costing for all projects
• Review and analyze standard and actual costs for variances monthly
• Prepare monthly manufacturing expense report for all MKU facilities
• Prepare periodic inventory reserves reconciliation, analyzing inventory for risk, and monitoring with support from internal stakeholders
• Prepare and analyze stock ageing report, stock allocation report
• Prepare, analyze and report monthly gross margin analysis by customer, part number and production jobs
• Prepare monthly plant wise reports on reworks and rejections
• Analyze changes in product design, raw materials, manufacturing methods, or services to determine effects on costs
• Assist in month-end and year-end closing by analyzing inventory and preparing supplemental reports as needed
• Support the budgeting and forecasting process by providing cost-related inputs and analyzing cost trends and impacts

Key Responsibilities:

• Cost Management & Analysis:
• Oversee the cost accounting function to ensure accurate calculation of product costs, manufacturing overheads, and cost of goods sold (COGS).
• Perform detailed cost variance analysis, identify cost reduction opportunities, and provide recommendations to management for process improvements.
• Develop and maintain standard costing systems, ensuring accuracy in cost allocation for materials, labor, and overheads.
• Budgeting & Forecasting:
• Prepare comprehensive cost budgets, ensuring they align with the company’s financial goals and strategic objectives.
• Regularly update and forecast costs based on business dynamics, collaborating with key departments for timely inputs.
• Monitor expenditure against budgeted figures and take corrective action where necessary.
• Cost Reporting:
• Provide regular and detailed costing reports, including standard Vs Actual variance analysis and insights on cost trends.
• Present findings to senior management, highlighting key cost drivers and offering actionable recommendations for improvement.
• Inventory Management:
• Ensure accurate inventory valuation for raw materials, work-in-progress (WIP), and finished goods using appropriate costing methods.
• Implement robust processes to minimize inventory obsolescence, improve inventory turnover, and ensure accurate inventory records.
• Perform inventory revaluation
• Internal Controls & Compliance:
• Ensure adherence to accounting standards, financial regulations, and internal controls related to costing, inventory, and financial reporting.
• Assist with internal and external audits by providing accurate and comprehensive costing and inventory data.
• Process Improvement:
• Continuously assess costing methods and accounting processes to identify and implement improvements for enhanced efficiency and accuracy.
• Develop and integrate new systems or tools for better cost tracking, data analysis, and reporting.
• Cross-Functional Collaboration:
• Collaborate with production, procurement, and supply chain teams to gather relevant data for cost tracking and forecasting.
• Provide cost insights for pricing decisions, product profitability analysis, and overall business strategie

Qualifications & Requirements:

• Education:
• Institute of Cost and Works Accountants (ICWA) certification is required.
• CA
• Experience:
• Minimum 8-10 years of experience in cost accounting, costing management, or financial analysis in a manufacturing or production environment.
• Proven expertise in managing costing systems, preparing budgets, performing variance analysis, and generating detailed cost reports.
• Experience in using ERP systems such as SAP, Oracle, or similar financial management software is highly desirable.
• Skills:
• Strong knowledge of SAP environment. cost accounting principles, financial regulations, and reporting.
• Advanced proficiency in Microsoft Excel, including macros.
• Strong analytical and problem-solving abilities.
• Ability to communicate complex financial data clearly to non-financial stakeholders.
• Excellent organizational, time-management, and multi-tasking skills.
• Personal Attributes:
• High attention to detail and accuracy.
• Strong communication, interpersonal, and leadership skills.
• Ability to work independently and as part of a collaborative team in a fast-paced environment.

Proactive and results-driven with a commitment to continuous improvement

Are you a qualified
CMA (ICWA) (mandatory)
professional with more than 20 years of work experience and a results-driven individual capable of managing complex accounting routines, leading a team, and driving operational improvements while maintaining a high standard of accuracy and collaboration?

If you are a seasoned cost accounting professional with a passion for process excellence and global operations, we encourage you to apply.

This role is based in Chennai and it is a work from office role where you would be primarily working in US hours (5pm IST to 2am IST).

Job Summary:

We are seeking a highly experienced and detail-oriented Senior Cost Accounting Manager with over 20 years of experience in financial and cost accounting, inventory management, and financial close processes. The successful candidate will manage key costing routines, oversee financial close procedures, and collaborate with cross-functional teams to ensure accurate reporting, compliance, and timely issue resolution. The ideal candidate will have significant expertise in global inventory control, accounting for future obligations (e.g., warranty provisions), and driving process improvements to ensure operational efficiency and accuracy.

Key Responsibilities:

Cost Accounting & Routine Management:

• Oversee daily, weekly, and monthly costing routines to ensure they are completed timely and accurately.
• Manage and improve the financial close checklist, ensuring all tasks are completed without delays, especially in high-pressure periods.
• Identify and address bottlenecks and inefficiencies in costing processes, ensuring smooth execution and minimal disruption.

Financial Close & Journal Entries:

• Ensure proper accounting for inventory, including handling cut-off control and accurate journal entries for period-end close.
• Monitor and manage the creation of journal entries and reconciliations, ensuring they are done in a manner that supports future reporting needs.
• Ensure all financial close activities are completed per deadlines and that all reporting is accurate, particularly related to inventory and cost reporting.

Inventory Control & Reporting:

• Oversee global inventory validation processes, including vendor validations, physical inventory counts, and coordination across multiple time zones and locations.
• Ensure timely and accurate reporting on inventory metrics, including inventory turns and general inventory reporting.
• Work with operational teams to ensure inventory accuracy and resolve discrepancies post-close.

Provisions, Reserves & Future Obligations:

• Manage and account for inventory-related reserves and provisions, including warranty provisions and other future obligations.
• Ensure that journal entries and accounting procedures are set up to track future consumption and align with long-term reporting needs.
• Issue Resolution & Cross-functional Collaboration:
• Act as a business partner, working closely with operations teams to resolve discrepancies and financial issues post-close.
• Collaborate with stakeholders to ensure clear ownership of processes and resolution of issues promptly, especially during financial close periods.
• Ensure that any errors or corrections are properly tagged to the relevant orders to avoid double corrections.

Aged Assessment Management:

• Lead the process of assessing and working down aged financial items post-period end, collaborating with operational partners to address and resolve these issues in a timely manner.
• Team Leadership & Oversight:
• Manage and oversee a team responsible for daily cost accounting and financial close tasks, ensuring that all procedures are followed and deadlines are met.
• Provide guidance and leadership to the team, mentoring junior staff and ensuring they understand the broader business implications of their work.
• Ensure high-level oversight of day-to-day operations while focusing on strategic improvements.

Global Coordination & Vendor Relations:

• Manage the global schedule for inventory validations and ensure accurate data recording and reporting within the system.
• Oversee and validate physical inventory counts and ensure global alignment and consistency in inventory management practices.

Reporting & Compliance:

• Ensure all internal and external financial reporting related to cost accounting, inventory, and provisions is accurate and completed on time.
• Stay updated with accounting standards, regulations, and compliance requirements relevant to cost accounting and inventory management.

Process Improvement & Innovation:

• Continuously identify and implement process improvements to increase efficiency and accuracy in cost accounting, inventory control, and financial close processes.
• Lead efforts to integrate new technologies and systems, such as cloud-based solutions, into costing and financial accounting processes.

Qualifications:

• Education:
  qualified
  CMA (ICWA)
  mandatory.
• Experience:
  Minimum of 20 years of experience in cost accounting, financial close processes, inventory management, and financial reporting.
  Experience in a global manufacturing or production environment is highly desirable.
• Technical Skills:
• Extensive experience with accounting software and ERP systems (e.g., SAP, Oracle, or similar).
• Advanced knowledge of accounting standards, financial reporting, and cost accounting principles.
• Familiarity with cloud-based systems and transitioning accounting processes to new technologies.
• Leadership:
  Proven ability to lead teams, manage cross-functional collaboration, and mentor junior staff.
• Problem-Solving & Analytical Skills:
  Strong analytical skills with the ability to identify issues, resolve discrepancies, and implement improvements.
• Communication:
  Excellent communication skills, both written and verbal, with the ability to present complex financial information to senior management and non-financial stakeholders.

Personal Attributes:

• Strong leadership and interpersonal skills with a proven ability to collaborate across departments.
• Detail-oriented, with a strong commitment to accuracy and meeting deadlines under pressure.
• Highly adaptable and capable of driving change in a dynamic, global organization.
• Proactive in identifying opportunities for process improvement and operational efficiency.

Role & responsibilities

Costing & Cost Control

Develop cost standards for materials, labour and overhead cost.

Analyse manufacturing operations, equipment availability and utilization

Analyse production costs, recommending changes, trend forecast analysis, and perform life cycle cost-benefit analysis.

Budgeting & Forecasting

Prepare annual Budget and Rolling forecast

Monitoring Capex at Factory;

Verify payment transactions and relevance tax

Inventory Management and Valuation

Align Costing practice and Direction from HQ

Oversee and analyse physical inventory valuations and reconciling beginning raw materials, work-in-progress, and finished-goods stock.

Cost Audit & Compliance

Liaise with the internal/ external auditor, the Revenue department, bank, and other related regulators.

Responsible for preparing all ad-hoc reports required by Offshore entity and HQ.

Product Costing & Pricing Support

Perform the tasks as requested by the management.

Perform month-end cost accounting close and preparing cost of goods sold and production reports.

ERP and Systems Implementation

Design, implement, and maintain cost accounting systems and cost ledger in ERP system (SAP)

Establish, develop, and maintain the department procedures and ensure the effectiveness of the internal control.

Preferred candidate profile

• Qualified CMA is a must.
• In-depth knowledge of cost accounting principles and practices.
• Hands-on experience in a manufacturing setup.
• Proficient in ERP systems (SAP / Oracle / Tally or similar).
• Strong analytical and problem-solving skills.
• Attention to detail with a high degree of accuracy.
• Ability to work under pressure and meet deadlines.
• Strong communication and interpersonal skills.

Description

Mission Statement:

Build and contribute to the team within the Controlling Capability Centers serving the entire Finance & Controlling organization as a command center for CO module and Management Accounting activities on S4/HANA. The work requires engagement with Global Functions, BUs, and Hitachi central organization to understand requirements, priorities, and planned initiatives. We are currently building the team and focusing on global initiatives like the implementation of a global S/4Hana system (project Reiwa).

Your Responsibilities:

• SAP technical knowledge (S/4Hana. FI/CO mandatory).
• Mapping of Business processes with more focus on Financial Planning and Analysis,
• Setting up procedures / developing guidelines – playbooks and training materials as part of Record 2 Report process.
• Support the Global Functions, BUs on new initiatives.
• Master Data maintenance w.r.t Activity Type, Activity Rates,
• Performing RA (Result Analysis) runs and analyzing the impact on Revenue, Inventory.
• Periodic activities relating to Controlling Module.
• Product Costing, Cost Object Controlling, Profit Centre Accounting.
• Setting up of Assessment and Distribution Cycles.
• Value Flow Analysis, Margin Reporting process.
• Analysis of Under/Over absorption of overheads and finding its root cause.
• Maintenance of Activity Rates and assessing the impact on Inventory valuation.
• Evaluate run-organization requirements
• Ensure adherence to Internal Controls.
• Automation of processes
• Maintenance of necessary Knowledge documents / Play Books w.r.t processes
• Optimize own performance to increase productivity by developing automated solutions, eliminating duplications, coordinating information requirements.
• Proactively find areas for process / report standardization across different countries, divisions, and business units.
• Adhering to the Controlling Capability Centers KPIs to ensure continuous improvement and maintain service quality
• Living Hitachi Energy's core values of safety and integrity, which means taking responsibility for your own actions while caring for your colleagues and the business.

Your Background:

• Bachelor's or Master's degree preferred.
• 5 years of experience, capabilities, strong motivation for delivering on time, and the ability to work under pressure.
• Result-oriented team player with strong attention to detail, good organizational and project management skills.
• Global orientation with networking skills.
• Good work discipline to produce results despite the complexity.
• Ability to work with diverse teams across different countries.
• Experience from stakeholder management.
• Proficiency in both spoken & written English language is required.

Job Description Cost Accounting Analyst CCC

Mission Statement

Build and contribute to the team within the Controlling Capability Centers serving the entire

Finance & Controlling organization as a command center for CO module

and Management Accounting activities on S4/HANA. The work requires engagement with

Global Functions, BUs, and Hitachi central organization,

to understand requirements, priorities, and planned initiatives. We are currently building the

team and focusing on global initiatives like the implementation of a global S/4Hana system

(project Reiwa).

Key Responsibilities

• SAP technical knowledge (S/4Hana. FI/CO mandatory).
• Mapping of Business processes with more focus on Financial Planning and Analysis,
• Setting up procedures / developing guidelines playbooks and training materials as part of

Record 2 Report process.

• Support the Global Functions, BUs on new initiatives.
• Master Data maintenance w.r.t Activity Type, Activity Rates,
• Performing RA (Result Analysis) runs and analyzing the impact on Revenue, Inventory.
• Periodic activities relating to Controlling Module.
• Product Costing, Cost Object Controlling, Profit Centre Accounting.
• Setting up of Assessment and Distribution Cycles.
• Value Flow Analysis, Margin Reporting process.
• Analysis of Under/Over absorption of overheads and finding its root cause.
• Maintenance of Activity Rates and assessing the impact on Inventory valuation.
• Evaluate run-organization requirements
• Ensure adherence to Internal Controls.
• Automation of processes
• Maintenance of necessary Knowledge documents / Play Books w.r.t processes

Optimize own performance to increase productivity by developing automated solutions, eliminating duplications, coordinating information requirements.

Proactively find areas for process / report standardization across different countries, divisions, and business units.

Adhering to the Controlling Capability Centers KPIs to ensure continuous improvement and maintain service quality

Knowledge and Skills:

• Experience from stakeholder management, with good communication skills in English is a prerequisite. The position requires specialist/analytical with up to 5 years of experience capabilities, strong motivation for delivering on time, and the ability to work under pressure.
  • Result-oriented team player with strong attention to detail, good organizational and project management skills
  • Global orientation with networking skills.
  • Good work discipline to produce results despite the complexity
  • Ability to work with diverse teams across different countries.