Costing Manager
Al Sharq Plas LLC
Total years of experience :16 years, 5 Months
Al Sharq Plas LLC provides solution for packaging requirements, from in house converting to palletizing for industrial products, food and beverage products, and specialty film products.
Responsibilities undertaking are hereunder;
Product Costing, Tendering & Long Term Prices Agreement Management:
Establish and maintain standard costing system.
Calculate standard material, labour and overheads and do the ratings.
Allocate, apportion and absorption of overheads.
Approve costing sheets for LTPA, regular, new and special products.
Prepare and ensure that contractual compliance requirements and documents.
Ensure that proposals submitted meet customer’s specifications, TDS, deadlines and quality standards.
Lead cost proposal modifications in competitive range discussions.
Budgeting & Planning:
Review budget estimates for accuracy.
Asses projected expenses to prepare accurate budget reports.
Interpret budget directives and adhered to established policies.
Report any financial discrepancies to management for further review.
Cost Control & risk management:
Participate in developing and implementation of costing policies & controls.
Track, analyze and control the costs associated with each job.
Study and understand all relevant product document and specifications/ TDS relating to cost management.
Ensure all cost related works are in compliance with approvals & procedures.
Maintain comprehensive accessible record of procedures, approvals, variations and change orders.
Actively participate in ERM and assure compliance of ERM Policy.
Management Reporting - MIS
Validate the cost of goods sold as part of the monthly management reports
Take part in pricing strategies, making cost proposals more competitive and cost efficient Prepare variance analysis reports, Break-even point reports & Performance appraisals reports
Predictive analysis, business process analysis, trend analysis using MIS.
Using business intelligence system for competitive advantage.
Managerial & Leadership Responsibilities:
Lead the costing team
Evaluate the performance of department
Discharge duties of finance manager, during his vacation or absence
Supervise daily function of the department
Department administrative work and correspond with other department
Train and motivate the subordinates to achieve excellence
M/s Galva Coat for Galvanizing & Lighting Poles is a leading manufacturer of lighting poles, CCTV Camera Poles, Intelligent Traffic System Poles, highway/ stadium high masts.
Cost Accounting:
Calculated cost of standard products, non-standard products, assemblies & accessories.
Reviewed & examined machine & labor hours, fixed & variable manufacturing overheads and material cost of products.
Studied manufacturing processes and prepare standard costing sheets by accumulating materials, labors, machines and factory overheads.
Developed and maintained standard costing system and structured bills of material
Analyzed actual manufacturing costs and preparing periodic reports comparing standard costs to actual production costs.
Scrutinized changes in product design, raw materials, manufacturing methods or services provided, to determine effects on cost.
Cost Audit:
Reviewed cost accounting records that include method of costing in use, method of accounting of raw material, system of recording wages, basis of allocation & apportionment of overheads, system of internal and budgetary controls, and methods of accounting depreciation.
Verified cost statements and data embraces licensed, installed and utilized capacities, cost of raw material consumed, wages, salaries, stores, power, and overheads.
Reconciled discrepancies by collecting, analyzing and investigating cost information & financial data.
Inventory Accounting:
Monitored Cost of Raw Materials and Production.
Regularly Generated and Analyzed Inventory Reports.
Reconciled inventory accounts to the general ledger.
Diagnosed the Cause of Inventory Variance.
Verified inventory transactions.
Conducted quarterly physical counts & inventory valuations.
Department of Maritime Budgets & Accounts -MoD in collaboration with its sub-divisions undertakes standardization of financial policies and accounting systems regulates level of disclosures & transparency of accounting records, develop financial reports, budgeting & forecasting. Responsibilities undertaken are hereunder,
RESPONSIBILITIES:
Financial Statements:
Prepared notes for financial statements in accordance with regulations laid by the Security and Exchange Commission of Pakistan and other regulatory bodies.
Accounts Supervision :
Supervised the examination, summarizing and maintenance of GL accounts.
Take the responsibility for, and supervise the work of, subordinate staff.
Calculated and check to make sure payments, amounts and records are correct.
Substantiated financial transactions by auditing documents.
Verified transaction information, computing charges and refunds, identifying delinquent accounts and insufficient payments.
Reconciled financial discrepancies by collecting, analyzing and investigating accounts information & documents.
Budgeting & Forecasting:
Participated in prescribing policies, procedures, and controls for developing the budget, preparing budget justifications, supplementary budget requests and reprogramming requests.
Monitored budget execution throughout the Department, including obligations and outlays, and maintains control on expenditure of funds.
Department of Maritime Construction & Works -MoD Undertake maintenance and construction project. Responsibilities as accountant undertaken are hereunder,
General Ledger Accounts Handling
Recorded, maintained and handled general ledgers and sub-ledgers.
Reconciled financial discrepancies, by collecting, investigating and collecting financial information & documents .
Verified all documents for accuracy and completeness.
Managed petty cash transactions, controlled credits and chased debt.
Accounts Payable (AP):
Verified vendor accounts by reconciling monthly statements & documents.
Monitored discount opportunities
Schedule payments & prepared cheque.
Payment to the vendors.
Bank
Handled bank accounts and maintained up to date records.
Issued import and export letters of credit and accepted payments.
Reviewed letter of credit documents and compliance international standards.
Verified terms of credit, such as amount, insurance coverage, and shipping conditions to determine compliance with established standards
Ensured all credit data is evaluated and adheres to bank policies and procedures in order to approve applications.
1. Management Accounting - Decision Making 2. Management Accounting - Business Strategy 3. Strategic Financial Management 4. Financial Reporting
1. Financial Statement Analysis 2. Managerial Finance 3. Cost & Managerial Accounting 4. Strategic Management 5. Islamic Finance
Advance Financial Accounting Cost Accounting
