|
KEY ACTIVITIES & RESPONSIBILITIES
|
|
Planning
- Facilitate the annual budgeting process with the Division heads, Plant Finance Head and other support functions
- Initiate and coordinate financial planning and budgeting activities at the different divisions and sectors for the plant
- Evaluate the various Capex proposals by the departments and develop them further if found suitable
Budgeting
- Initiate, coordinate, and prepare Plant specific budgets in line with the guidance provided by Corporate
- Conduct the annual budget meeting with the Department heads, Plant Finance Head and other support functions
- Liaison with the Department Heads and support functions in submitting their projections and targets in a timely and accurate manner
- Extract information of the financial performance of the business from the historical databases
- Extract expenses information from the databases relating to direct costs, indirect costs, fixed costs and variable costs
- Project the operating costs for production and the project execution by building various scenarios with variables like labor, material cost, time, etc under guidance of GM Finance
- Conduct analysis of budget vs actual adherence to budgets for departments
- Ensure control over expenses by regular feedback on budgets and actual expenses
- Keep control over the Budgeted Capex and Actual Capex spends and highlighting any deviations
- Participate with the Corporate Finance team in developing requirements for budgeting standards
|
|
Cost Management:
- Ensure implementation of standard costing and activity base costing systems in line with corporate guidance
- Ensure reconciliation between the financial accounting and costing system to ensure seamless financial reporting and analysis
- Perform product costing and raw material costing, to accurately assess product profitability
- Provide required information for cost benefit analysis, transfer pricing in consultation with the Plant Finance Head
- Ensure timely coordination and analysis of financial information including monthly financial results, preparation of recurring management reports, budgeting /forecasting support
- Track and monitor Conversion cost on daily, week and monthly basis and highlight any deviations to key stake holders to discuss upon the resolution
- Conduct physical inventory checks and resolve issues with regards to any variance if observed
|
|
Cost Audit
- Keep Cost Records as required for Annual Cost Audit
- Interact with internal and external auditors in completing audits
- Ensure adherence to Statutory Requirement of Cost Auditor & Complete Cost Audit
- Analyse BOM Vs Actual RM Consumption Analysis
- Providing Key Financial Data to outside Agencies (as required)
|
|
Documentation, & MIS
- Maintain costing and budgeting reports for the Plant
- Ensure the high level accuracy and timely submission of all MIS reports
- Ensure accurate and timely SAP updation on FICO for all costing processes and activities, and monitor the quality of updation on SAP by the Plant team
- Perform variance analysis in SAP reports
|
