budget and cost control accountant

Budget and Cost Control Accountant – Key Responsibilities

1. Product Costing & Standards

2. Maintain and update standard costs for all SKUs (materials, labor, overhead).

3. Validate Bill of Materials (BOM), recipes, yield assumptions, and conversion costs.
4. Review and audit supplier prices, ensuring accurate cost roll-ups in Oracle NetSuite.

5. Coordinate annual and periodic cost standard reviews.

6. Production Cost Monitoring

7. Reconcile production reports (daily/weekly/monthly) against actual usage.

8. Verify raw material consumption, wastage, rework, yield variances, and downtime impact.
9. Monitor machine efficiency and translate performance data into cost impact.

10. Perform cost absorption analysis for direct and indirect manufacturing overhead.

11. Inventory & Material Control

12. Audit warehouse stock movements, returns, scrap, and adjustments.

13. Investigate discrepancies between physical counts and system balances.

14. Validate transfer orders, delivery receipts (DRs), sales invoices (SIs), and inter-department material flows.

15. Variance Analysis & Reporting

16. Prepare detailed cost variance reports (price, quantity, yield, overhead).

17. Conduct root-cause analysis and recommend corrective actions.
18. Highlight cost drivers affecting gross margin and profitability.

19. Support CFO in preparing monthly P&L insights related to COGS.

20. Budget Planning & Consolidation

21. Lead the annual budgeting cycle across all departments (Sales, Marketing, Admin, HR, Operations, Production).

22. Consolidate departmental budgets into a company-wide financial plan.
23. Review budget submissions for accuracy, logic, and alignment with business strategy.

24. Maintain rolling forecasts for revenue, OPEX, CAPEX, and cash requirements.

25. Budget Monitoring & Variance Control

26. Track actual spending vs. approved budgets on a monthly and quarterly basis.

27. Investigate variances and coordinate with department heads for explanations.
28. Flag overspending risks early and recommend corrective actions.

29. Develop reporting dashboards for budget performance.

30. Expense Governance & Approval

31. Enforce budget policies and ensure requests comply with internal controls.

32. Validate expenses against approved budgets before routing for approval.
33. Analyze unbudgeted spending requests and advise on financial impact.

34. Coordinate with Purchasing, Accounting, and Admin for proper cost center tagging.

35. Forecasting & Scenario Analysis

36. Assist in cost forecasts, scenario modeling, and margin planning.

37. Build scenario models for "best case," "realistic," and "worst case" projections.
38. Provide cost benchmarks for pricing decisions and new product development (NPD).

39. Support CFO in cash flow forecasting, especially for large spending events.

40. Financial Reporting & Insights

41. Prepare monthly budget vs. actual reports with key insights.

42. Highlight trends, risks, inefficiencies, and opportunities for savings.
43. Provide management with recommendations on cost optimization.

44. Support board reporting and special financial analysis as required.

45. Process & Internal Control Compliance

46. Ensure all costing and budgeting processes comply with internal controls and audit requirements.

47. Strengthen financial discipline across production, purchasing, and all departments.
48. Conduct periodic process audits to detect inefficiencies and leakages.
49. Implement improvements in costing and budgeting workflows to increase accuracy, transparency, and audit readiness.

Qualifications

* Bachelor's degree in Accountancy, Finance, or related field.

* CPA or CMA preferred but not required.

* Strong financial modeling skills.

* Proficient in Excel and ERP systems (Oracle NetSuite preferred).

* Excellent attention to detail and ability to challenge data and assumptions.

* Strong communication skills for coordinating with department heads and senior management.

* Advanced Excel and financial modeling skills.

* Strong analytical mindset and ability to challenge operational data.

* High integrity and attention to detail.