Verified Job
Accounting - Finance
Head Accounts Manufacturing Firm +16 yrs
Accounting - Finance
#213634
Remote / WFH
Job Description
Head Manufacturing Accounts
Roles & Responsibilities :
Manufacturing expense review and control :
a. Actively lead & participate in the preparation of the Manufacturing Cost Budget by interacting with Operations, Units, actuals vs budget.
b. Scrutiny of manufacturing expenses booked GL wise to ensure proper accounting of costs and coordinating with plants and JW's for correction of any irregularities
c. Review of Exceptions on Manufacturing Costs and provide comments for Monthly P&L flash
d. Driving preparation and finalisation of manufacturing expense Annual budget.
e. Identifying deviations to Monthly Actuals vis-a-vis trend & budget and work on corrective actions.
Fixed Asset accounting review and control :
a. Follow-up with all Stake holders and Compilation of Fixed asset budget.
b. Ensure compliance to IndAS, componentisation of assets, impairment testing.
c. CWIP review to ensure timely capitalisation wherever required.
d. Guide Team in Day to Day functioning of Asset Transfers, Asset Retirement, Capitalisation, GST Input Tax credit on Asset etc
e. Ensuring depreciation is properly calculated during each month
f. Review of capex advances and GR/IR and timely clearance of the same.
g. Ensuring periodic physical verification of assets and ensuring regular update of inter unit transfers and retirements .
h. Oversee Payables - Imports, Customs duty, Job work payments, Capex Procurements by follow up bills for Clearing of Open GRN and Open Advances.
Financial evaluation of proposed capital investments :
a. Review of CER's raised in the system and approval of the same based on IndAS requirements of capitalisation, adherence to approval matrix and IRR and PBP of the proposed project
b. Review of IRR and PBP of proposed capital investments above 1 crore. Support Projects by review and validating financial evaluation of Capex investment decisions - Green Field and Brown Field projects.
c. Post implementation review of capital investments of key projects.
d. Carry out thorough scrutiny of any Exceptional Inventory movements and any Stock Adjustments or write off without proper approvals
e. Review of GST Control Accounts to ensure no loss of Input Tax credit ailment
f. Restrict all access Controls to Plants and Depots other than Stipulated Transaction codes and movement types
g. Review on monthly basis and sharing key insights related to ageing inventory (RM / SFG / FG / PM) at UNITS
h. Preparation of material reconciliation report FTM covering the following :
1. RM, PM and SFG variance for the period, highlighting exceptions for the same, understanding root cause and coordinating for action plan to mitigate the variance.
2. Stock transfers to D, IE and UD, analysing such transfers and highlighting exception for the same, understanding root cause and coordinating with concerned person for action plan.
3. P stock, sample and scrap sales done during the period, highlighting exceptions for the same, understanding root cause and coordinating with concerned person for action plan.
4. Analysis of RM, PM and SFG items issued to cost centre, understanding root cause and coordinating with concerned person for action plan.
5. Study the trend of inventory movements of inputs from Port to Plants and FG from Plants to Hubs/Depots and identify any exceptional movements/ stock write offs.
6. GST Account compliance and clearance especially for Interunit Stock Transfers and Shortages
Managing external stakeholder :
a. Resolving IFC points raised by Auditors
b. Resolving queries of Auditors with regards to cost variances and capex.
c. Preparation of plant/depot wise Profit & Loss and Balance sheet as per NSSO requirements.
d. Closure of NSSO audit
e. System Automation and process improvement
- Designing and implementing systems policies and procedures to facilitate simplified execution and also in compliance to internal financial and process controls.
- Conceive ideas for automation of reports
- Implementation of various automation projects in areas of SAP reports
Roles & Responsibilities :
Manufacturing expense review and control :
a. Actively lead & participate in the preparation of the Manufacturing Cost Budget by interacting with Operations, Units, actuals vs budget.
b. Scrutiny of manufacturing expenses booked GL wise to ensure proper accounting of costs and coordinating with plants and JW's for correction of any irregularities
c. Review of Exceptions on Manufacturing Costs and provide comments for Monthly P&L flash
d. Driving preparation and finalisation of manufacturing expense Annual budget.
e. Identifying deviations to Monthly Actuals vis-a-vis trend & budget and work on corrective actions.
Fixed Asset accounting review and control :
a. Follow-up with all Stake holders and Compilation of Fixed asset budget.
b. Ensure compliance to IndAS, componentisation of assets, impairment testing.
c. CWIP review to ensure timely capitalisation wherever required.
d. Guide Team in Day to Day functioning of Asset Transfers, Asset Retirement, Capitalisation, GST Input Tax credit on Asset etc
e. Ensuring depreciation is properly calculated during each month
f. Review of capex advances and GR/IR and timely clearance of the same.
g. Ensuring periodic physical verification of assets and ensuring regular update of inter unit transfers and retirements .
h. Oversee Payables - Imports, Customs duty, Job work payments, Capex Procurements by follow up bills for Clearing of Open GRN and Open Advances.
Financial evaluation of proposed capital investments :
a. Review of CER's raised in the system and approval of the same based on IndAS requirements of capitalisation, adherence to approval matrix and IRR and PBP of the proposed project
b. Review of IRR and PBP of proposed capital investments above 1 crore. Support Projects by review and validating financial evaluation of Capex investment decisions - Green Field and Brown Field projects.
c. Post implementation review of capital investments of key projects.
d. Carry out thorough scrutiny of any Exceptional Inventory movements and any Stock Adjustments or write off without proper approvals
e. Review of GST Control Accounts to ensure no loss of Input Tax credit ailment
f. Restrict all access Controls to Plants and Depots other than Stipulated Transaction codes and movement types
g. Review on monthly basis and sharing key insights related to ageing inventory (RM / SFG / FG / PM) at UNITS
h. Preparation of material reconciliation report FTM covering the following :
1. RM, PM and SFG variance for the period, highlighting exceptions for the same, understanding root cause and coordinating for action plan to mitigate the variance.
2. Stock transfers to D, IE and UD, analysing such transfers and highlighting exception for the same, understanding root cause and coordinating with concerned person for action plan.
3. P stock, sample and scrap sales done during the period, highlighting exceptions for the same, understanding root cause and coordinating with concerned person for action plan.
4. Analysis of RM, PM and SFG items issued to cost centre, understanding root cause and coordinating with concerned person for action plan.
5. Study the trend of inventory movements of inputs from Port to Plants and FG from Plants to Hubs/Depots and identify any exceptional movements/ stock write offs.
6. GST Account compliance and clearance especially for Interunit Stock Transfers and Shortages
Managing external stakeholder :
a. Resolving IFC points raised by Auditors
b. Resolving queries of Auditors with regards to cost variances and capex.
c. Preparation of plant/depot wise Profit & Loss and Balance sheet as per NSSO requirements.
d. Closure of NSSO audit
e. System Automation and process improvement
- Designing and implementing systems policies and procedures to facilitate simplified execution and also in compliance to internal financial and process controls.
- Conceive ideas for automation of reports
- Implementation of various automation projects in areas of SAP reports
