Cost Account - Ban.Co

Description:
To record, analyze, and allocate all costs related to production or services in order to determine the actual cost of products or projects, support decision-making, and improve operational efficiency by controlling and reducing expenses.

Key Responsibilities:

• Prepare and analyze actual cost reports and compare them with standard or budgeted costs.

• Monitor material movements and inventory to determine the cost of materials used in production.

• Record operating expenses and allocate them accurately to the appropriate cost centers.

• Prepare monthly cost reports, analyze variances, and provide recommendations for corrective actions.

• Participate in preparing and monitoring the company’s annual budgets.

• Review and post cost-related journal entries to ensure accuracy and compliance with company policies.

• Coordinate with production, purchasing, and warehouse departments to verify cost data accuracy.

• Assist in developing cost accounting systems and improving internal control procedures.

• Prepare periodic reports for management on production costs, profitability, and cost trends.