Manufacturing Cost Accountant

SUMMARY:
The role supports operational decision-making through detailed financial analysis.

POSITION INFO:
MANUFACTURING COST ACCOUNTANT Job Purpose The Manufacturing Cost Accountant is responsible for providing financial leadership, cost management, operational performance analysis and business partnering support across manufacturing operations. The role works closely with Plant Management, Engineering, Production, Procurement and Supply Chain teams to ensure accurate product costing, inventory valuation, manufacturing performance reporting and cost optimisation across all production facilities. The role supports operational decision-making through detailed financial analysis, budgeting, forecasting and governance activities while driving financial discipline, manufacturing efficiency, cost control and sustainable profitability improvements. Key Responsibilities Manufacturing Costing and Cost Management • Develop, maintain and continuously improve standard costing methodologies across all manufacturing operations, ensuring accurate product costing and financial reporting. • Monitor raw material, packaging, labour, utility and overhead costs and provide detailed analysis of cost drivers affecting manufacturing performance. • Conduct comprehensive manufacturing variance analysis, including material usage, labour efficiency, yield, waste, downtime and overhead absorption variances. • Review and validate Bills of Material (BOMs), routing structures and production standards to ensure costing accuracy and operational integrity. • Identify cost reduction opportunities and partner with operational leadership to implement sustainable cost improvement initiatives. • Monitor manufacturing conversion costs and benchmark plant performance against budget, forecast and operational targets. Manufacturing Performance Analysis • Prepare weekly, monthly and quarterly manufacturing performance reports highlighting key operational and financial performance indicators. • Analyse production efficiencies, plant utilisation, yield performance, waste trends and throughput metrics to identify improvement opportunities. • Develop meaningful management information and dashboards to support operational decision-making. • Provide financial commentary and recommendations to support plant review meetings and operational governance forums. • Monitor and report on savings initiatives, productivity programmes and continuous improvement projects. Inventory and Working Capital Management • Ensure accurate inventory valuation in accordance with accounting standards, company policies and group reporting requirements. • Review inventory movements, stock adjustments, write-offs and provisions to ensure financial accuracy and appropriate governance. • Participate in cycle counts and annual stock counts, ensuring discrepancies are investigated and resolved promptly. • Monitor inventory ageing, obsolete stock and slow-moving inventory, providing recommendations to minimise financial exposure. • Support initiatives aimed at improving inventory management and optimising working capital performance. Budgeting, Forecasting and Financial Planning • Support the development of annual manufacturing budgets and rolling forecasts. • Prepare detailed cost forecasts and analyse actual performance against budget and forecast commitments. • Challenge operational assumptions and ensure financial plans reflect realistic manufacturing performance expectations. • Identify financial risks and opportunities impacting manufacturing operations and provide proactive recommendations. • Support long-range planning and strategic manufacturing initiatives through financial modelling and scenario analysis. Capital Expenditure and Asset Governance • Support the preparation and financial evaluation of capital expenditure proposals and investment business cases. • Monitor capital project expenditure against approved budgets and provide regular reporting on project financial performance. • Assist with asset capitalisation, impairment reviews and fixed asset verification processes. • Support benefits realisation tracking for approved capital projects and operational investments. • Ensure compliance with fixed asset and capital governance policies. Business Partnering and Operational Support • Act as a trusted finance business partner to Plant Managers, Engineering Managers and Manufacturing Leadership teams. • Provide financial insights that support operational decision-making, productivity improvements and profitability enhancement. • Participate in operational review meetings and provide independent financial challenge where required. • Support continuous improvement, lean manufacturing and operational excellence initiatives through financial analysis and measurement. • Promote financial accountability and cost ownership throughout manufacturing operations. Governance, Controls and Compliance • Maintain strong financial controls over manufacturing transactions, inventory management and costing processes. • Ensure compliance with financial policies, procedures and delegated authority frameworks. • Support internal and external audit activities and ensure timely resolution of audit findings. • Identify control weaknesses and implement corrective actions to strengthen governance and financial integrity. • Support finance transformation initiatives and continuous improvement programmes. Qualifications and Experience Minimum Qualifications • Bachelor's Degree in Accounting, Finance, Cost & Management Accounting or a related field. • Professional Finance Qual