Cost Accountant

Job Description

Job Title: Cost Accountant Location: Mohali, India Employment Type: Full-Time Job Summary: The Cost Accountant will play a critical role in supporting the Finance and Operations teams by ensuring accurate product costing, inventory valuation, and cost optimization across manufacturing and R&D functions. This position is vital in maintaining pricing accuracy, tracking profitability, and ensuring compliance within a highly regulated pharmaceutical environment. Work quality will be monitored and supervised as required. Key Responsibilities: Develop and Maintain Standard Cost Models Build and regularly update standard cost models for pharmaceutical products including APIs, formulations, and packaging components. Utilize ERP systems to ensure accuracy, efficiency, and traceability of cost data. Perform Variance Analysis Conduct comprehensive variance analysis such as standard vs. actual cost, purchase price variance (PPV), manufacturing variance, and yield variance. Employ advanced analytics tools to identify cost deviations and recommend corrective actions. Collaborate Across Departments Partner with Production, Supply Chain, R&D, and Quality Assurance teams to understand and monitor cost drivers throughout the product lifecycle. Ensure end-to-end visibility and integrity in cost reporting. Monitor Inventory and Batch Costing Oversee inventory valuation, work-in-progress (WIP) tracking, and batch-wise costing. Ensure internal controls through system-supported processes. Prepare Costing Reports and Profitability Analyses Generate detailed reports on product costing, gross margin analysis, and profitability. Present cost insights and margin improvement proposals using data visualization tools for decision-making support. Analyze CAPEX and OPEX Implications Evaluate the cost impact of capital and operational expenditures on the cost of goods sold (COGS). Support budgeting and forecasting through scenario analysis and predictive modeling. Ensure Compliance and Audit Readiness Maintain adherence to internal policies and international costing standards. Prepare for internal and external audits by ensuring accurate documentation and system-generated audit trails. Support Transfer Pricing Documentation Assist in calculating, reviewing, and documenting transfer pricing in alignment with global tax regulations. Coordinate with tax and compliance teams to ensure timely and accurate reporting. Assist in Strategic Decision-Making Provide financial insights for product launches, make-or-buy evaluations, and cost-benefit analyses. Contribute to continuous improvement and strategic initiatives through data-driven recommendations. Qualifications & Experience: Either of one options: CMA from IMA with 4-5 years of experience CMA from ICMA with 4-5 years of relevant experience CA from ICAI with 4-5 years of relevant experience Strong understanding of cost accounting principles, inventory management, and hands-on experience on ERP systems (e.g., SAP, Oracle). Strong analytical, communication, and cross-functional collaboration skills. Key Competencies: Detail-oriented and highly organized Analytical and problem-solving mindset Ability to work independently and as part of a team High level of integrity and professional ethics Adaptability in a dynamic, fast-paced environment Show more Show less