Cost Accountant

About the Company

We are a globally leading supplier of premium food and beverage ingredients, partnering with farming communities worldwide. Our portfolio includes cocoa, coffee, dairy, nuts, and spices sourced from numerous farmers in 50 countries, alongside ingredients from our own farms and estates. Our broad manufacturing and innovation capabilities enable us to deliver components used in diverse products, such as plant-based latte mixes, almond-based snacks, and dairy-free ice creams. Committed to making a positive social and environmental impact, our purpose is to champion sustainable, healthy food futures through transparent and reliable supply chains.

Role Overview

The Cost Accountant will report to the Accounting Manager (India) and will be responsible for managing core activities related to product costing, inventory accounting, and variance analysis specifically supporting the Olde Thompson manufacturing segment. This hands-on role operates within the offshore finance team, coordinating closely with both the India-based manager and US finance leaders.

Primary Responsibilities

• Maintain and update standard cost data within SAP using transactions such as CK11N and CK40N, including cost estimations, roll-ups, and performing annual updates.
• Conduct standard costing processes for new and existing products in collaboration with the Accounting Manager.
• Examine and validate Bills of Materials (BOM) in SAP and assess the cost implications of BOM changes.
• Prepare detailed product cost sheets and assist in techno-commercial evaluation for launching new products.
• Carry out monthly variance analyses comparing actual production costs with standard costs, covering material, labor, and overhead.
• Investigate significant variances’ root causes and present clear reports for managerial review.
• Calculate raw material cost percentages for mass production lines and identify discrepancies where actual costs exceed standards.
• Prepare variance reports related to mix, price, and yield against master batch standards for raw materials.
• Support monthly overhead variance analysis efforts.
• Perform monthly inventory validations including reviewing shop floor stock, in-transit stock, pending GRNs and STOs, and WIP orders, making necessary corrections.
• Reconcile system inventory numbers with physical stock counts at month-end, investigating any discrepancies.
• Aid in organizing and supporting periodic physical inventory and cycle counting activities.
• Identify slow-moving, obsolete, or scrap inventory; track scrap values and compare them against standard cost sheets.
• Maintain summaries of raw material margins, distinguishing between domestic and export product sales values.
• Execute Material Ledger runs within SAP for actual costing and price difference settlements.
• Post COPA entries related to product profitability and margin assessments.
• Assist in month-end, quarter-end, and year-end close processes by completing costing tasks within deadlines.
• Generate profitability analysis and costing MIS reports upon managerial direction.
• Support audit and compliance tasks including supplying costing data and reconciliations for internal and statutory audits and assist with GST compliance.
• Contribute to yearly budgeting and standard cost planning for manufacturing and operational costs.
• Help improve costing processes via automation and standardization initiatives.
• Provide other ad hoc support to the Accounting Manager and US finance team as required.

Qualifications & Requirements

• Bachelor’s degree in Commerce, Accounting, or Finance (B.Com or M.Com) mandatory.
• Cost & Management Accountant (CMA) qualification from ICAI highly preferred.
• 4 to 6 years practical experience in product/standard costing or management accounting, ideally within manufacturing, FMCG, or food & beverage sectors.
• Strong hands-on exposure to SAP CO module, including CK11N, CK40N, Material Ledger, and COPA transactions.
• Thorough understanding of BOM structures, variance analysis, and inventory valuation methods.
• Advanced proficiency in Microsoft Excel featuring functions like VLOOKUP and pivot tables for data analysis.
• Familiarity with IFRS accounting standards; knowledge of US GAAP is advantageous.
• Knowledge of Indian indirect taxes such as GST and TDS compliance requirements.
• Analytical aptitude with meticulous attention to detail and the ability to effectively analyze variances.
• Proficient verbal and written English communication skills, comfortable interacting with US-based stakeholders.
• Capability to manage tight deadlines and multiple responsibilities within a fast-paced, month-end driven work environment.

Additional Information

• The position is India-based with remote work eligibility; exact city to be determined.
• Reports directly to the Accounting Manager in India.
• Working hours require some overlap with US Central Time to facilitate communication and reporting.
• We are an equal opportunity employer valuing diversity across race, age, gender, nationality, disability, sexual orientation, and other protected characteristics.
• Candidates must provide a resume/CV completing all application requirements to be considered.