Job Description:

Costing Accountant Jobs in Pune | Manufacturing Cost Accountant Vacancy

Job Title: Costing Accountant
Job Location: Chinchwad, Pune, Maharashtra
Industry: Engineering Manufacturing / Process Machinery
Department: Accounts & Finance
Experience Required: 5–6 Years
Qualification: ICWA/CMA or equivalent, or MBA in Finance or equivalent
Employment Type: Full-Time, Permanent
Reporting To: Managing Director
Job Category: Accounts, Finance, Costing & Financial Analysis
Hiring Company: Confidential Engineering Manufacturing Company
Recruitment Partner: Orbit Global HR Consultants LLP

Job Overview

Orbit Global HR Consultants LLP is hiring an experienced Costing Accountant in Chinchwad, Pune, for a reputed engineering manufacturing organisation specialising in process machinery, industrial equipment, and automation solutions.

The ideal candidate should have 5–6 years of relevant experience in manufacturing costing, job costing, project costing, cost estimation, inventory valuation, cost control, and financial reporting.

The selected candidate will be responsible for preparing cost estimates, monitoring actual project costs, analysing job-wise profitability, managing inventory costing, identifying cost-saving opportunities, and preparing management information system (MIS) reports.

Candidates with experience in engineering manufacturing, industrial machinery, fabrication, process equipment, or project-based manufacturing will be preferred.

About the Hiring Organisation

Our client is an established engineering manufacturing organisation operating since 1998, with a workforce of more than 150 employees. The company designs and manufactures process machinery, equipment, and automation solutions for the dairy, food processing, fruit processing, and beverage industries.

Its product portfolio includes sterilizers, pasteurizers, Clean-in-Place (CIP) systems, and other industrial process systems.

The organisation is looking for a detail-oriented Costing Accountant who can strengthen cost estimation, project profitability analysis, inventory valuation, and financial control processes.

Key Responsibilities

1. Cost Estimation and Pre-Order Costing

• Prepare detailed cost estimates for customer enquiries, quotations, tenders, and commercial offers.

• Calculate material costs for stainless steel sheets, pipes, fittings, and other engineering materials.

• Estimate costs for bought-out components, fabrication, machining, assembly, labour, and subcontracting.

• Include packing, freight, factory overheads, and other applicable indirect costs in cost calculations.

• Maintain standard cost sheets, material rate databases, labour rates, and costing templates.

• Review historical costs and previous project data to improve estimation accuracy.

• Evaluate selling prices and gross margins before quotations are submitted to customers.

• Highlight quotations and orders that fall below target profitability levels.

• Coordinate with Sales, Engineering, Purchase, and Production teams to validate costing assumptions.

2. Job Costing and Project Cost Analysis

• Create and maintain separate cost codes for individual customer orders and projects.

• Record actual costs relating to material consumption, purchases, labour, subcontracting, and project expenses.

• Track costs throughout the order execution cycle, from order receipt to production, dispatch, and closure.

• Compare estimated costs with actual expenditure and identify cost variances.

• Investigate cost overruns and coordinate with relevant departments to determine root causes.

• Prepare job-wise profitability statements and project cost reports.

• Calculate actual gross margins for completed orders.

• Prepare job-closure cost reports after dispatch and invoicing.

• Ensure all direct expenses are allocated to the correct job or project.

• Monitor work-in-progress (WIP) costs for ongoing orders and report the status to management.

3. Material and Inventory Costing

• Maintain accurate inventory valuations for raw materials, work-in-progress, and finished goods.

• Monitor material consumption against approved Bills of Materials (BOMs) and job requirements.

• Reconcile material issues, returns, transfers, and scrap with Stores and Production records.

• Analyse material wastage, excess consumption, rejected material, and scrap generation.

• Monitor fluctuations in raw material prices and bought-out component costs.

• Support monthly and annual physical stock verification.

• Investigate stock discrepancies and coordinate corrective actions with Stores, Purchase, and Production.

• Ensure accurate allocation of material costs to individual jobs and projects.

• Maintain inventory costing data in the ERP or accounting system.

4. Cost Control and Variance Analysis

• Prepare monthly cost reports covering job-wise profitability, product margins, departmental expenses, and overhead absorption.

• Compare standard costs, estimated costs, budgets, and actual expenditure.

• Analyse cost variances relating to materials, labour, machining, fabrication, subcontracting, freight, and overheads.

• Identify the reasons for unfavourable cost variations and recommend corrective actions.

• Track changes in material prices and communicate relevant information to Purchase and Sales teams.

• Identify cost-reduction opportunities involving material usage, production wastage, rework, subcontracting, and freight.

• Conduct make-or-buy analysis and compare in-house manufacturing costs with subcontracting costs.

• Support management in improving manufacturing efficiency and project profitability.

5. Budgeting, MIS and Management Reporting

• Assist in preparing annual budgets, departmental budgets, and standard costs.

• Prepare monthly MIS reports covering manufacturing costs, job profitability, product margins, inventory, and WIP.

• Provide accurate costing information to support management decision-making.

• Prepare cost centre reports and analyse departmental expenditure against budgets.

• Maintain costing trackers, job costing sheets, and financial reports using MS Excel and ERP/accounting software.

• Support the preparation of cost dashboards and management reports.

• Maintain historical cost data for future quotations, budgeting, and profitability analysis.

• Present key cost variances and profitability trends clearly to management.

6. Overhead Allocation and Manufacturing Costing

• Identify and allocate factory overheads, administrative overheads, and other indirect expenses.

• Calculate overhead absorption rates and incorporate applicable overheads into product and project costing.

• Review the allocation of indirect costs across departments, products, and jobs.

• Support the preparation and review of standard manufacturing costs.

• Analyse the impact of overhead fluctuations on product pricing and project profitability.

• Coordinate with Production and Finance teams to maintain consistency in cost allocation.

7. Audit, Documentation and Compliance

• Maintain accurate costing records, cost sheets, job costing statements, and supporting documents.

• Provide costing schedules and relevant records for internal, statutory, and tax audits.

• Support cost audits and applicable cost record requirements, where relevant.

• Ensure costing processes comply with internal policies and approved procedures.

• Maintain documentation for inventory valuation, cost allocation, variance analysis, and job closure.

• Assist in resolving audit observations relating to inventory and manufacturing costs.

• Coordinate with Accounts and Finance to reconcile costing records with financial statements.

8. Interdepartmental Coordination

The Costing Accountant will work closely with the following departments:

• Sales and Proposals: Quotation costing, pricing analysis, and margin evaluation.

• Projects and Engineering: BOM validation, project estimates, and technical cost assumptions.

• Purchase: Material price updates, vendor quotations, and component costs.

• Stores: Material issues, returns, stock reconciliation, and inventory valuation.

• Production: Material consumption, labour costs, manufacturing variances, and wastage analysis.

• Dispatch: Packing, freight, dispatch expenses, and order closure.

• Accounts and Finance: Financial reconciliation, MIS, and audit documentation.

Educational Qualifications

• ICWA/CMA or equivalent recognised qualification; or

• MBA in Finance or an equivalent qualification.

Candidates must have relevant practical experience in costing within an engineering manufacturing environment.

Experience Requirements

• Minimum 5–6 years of relevant costing experience.

• Experience in engineering manufacturing, industrial machinery, process equipment, fabrication, or project-based manufacturing is preferred.

• Strong practical knowledge of job costing, project costing, standard costing, cost estimation, and variance analysis.

• Experience in inventory valuation, material cost analysis, overhead allocation, and manufacturing MIS.

• Experience coordinating with Purchase, Production, Stores, Sales, and Project teams.

• Exposure to ERP-based costing systems and management reporting will be an advantage.

Required Technical Skills

Costing and Financial Analysis

• Job costing and project costing.

• Standard costing and cost estimation.

• Manufacturing cost analysis and variance analysis.

• Inventory valuation and WIP accounting.

• Overhead allocation and absorption.

• Product-wise and job-wise profitability analysis.

• Budgeting, cost control, and MIS reporting.

• Make-or-buy and subcontracting cost analysis.

Software Skills

• Working knowledge of Tally and/or ERP systems.

• Advanced MS Excel skills, including Pivot Tables, VLOOKUP/XLOOKUP, and data analysis.

• Ability to maintain costing databases, financial trackers, and management reports.

Manufacturing Knowledge

• Understanding of Bills of Materials (BOMs).

• Familiarity with fabrication, machining, assembly, and subcontracting processes.

• Understanding of material wastage, scrap, rework, and production cost drivers.

• Ability to interpret technical and commercial information for costing purposes.

Key Competencies

• Strong analytical and numerical skills.

• High attention to detail and accuracy.

• Commercial awareness and understanding of profit margins.

• Ability to identify cost overruns and recommend practical solutions.

• Effective communication and interdepartmental coordination.

• Strong planning and time management.

• Ability to prepare clear management reports.

• Proactive approach to cost reduction and process improvement.

• Integrity and confidentiality when handling financial information.

Suitable Candidate Profiles

Professionals currently working as the following may be suitable for this vacancy:

• Costing Accountant

• Cost Accountant

• Costing Executive

• Senior Cost Accountant

• Costing and MIS Executive

• Manufacturing Cost Accountant

• Project Costing Accountant

• Cost Control Accountant

Candidates with relevant experience in engineering manufacturing, industrial equipment, process machinery, and fabrication companies are encouraged to apply.

Job Location

Chinchwad, Pune, Maharashtra, India

The position is based at the client's corporate office/plant in Pune. Candidates should be comfortable working in a manufacturing environment and coordinating with multiple operational departments.

How to Apply for Costing Accountant Jobs in Pune

Interested candidates who meet the qualification and experience criteria can submit their updated CV to Orbit Global HR Consultants LLP.

Please mention “Costing Accountant – Pune” in the subject line or application message.

Recruitment Partner: Orbit Global HR Consultants LLP
Website: https://orbitglobalhr.in/

Orbit Global HR Consultants LLP provides recruitment and talent acquisition services across accounts and finance, manufacturing, engineering, industrial equipment, and other specialised functions across India.

If you are looking for Costing Accountant jobs in Pune or exploring opportunities in manufacturing finance, submit your profile for consideration.

Frequently Asked Questions (FAQs)

1. What qualification is required for Costing Accountant jobs in Pune?

Candidates should have ICWA/CMA or an equivalent qualification, or an MBA in Finance or equivalent, along with relevant manufacturing costing experience.

2. How much experience is required?

A minimum of 5–6 years of relevant costing experience is required, preferably in an engineering manufacturing company.

3. Where is the job located?

The position is based in Chinchwad, Pune, Maharashtra.

4. What are the main responsibilities?

The main responsibilities include cost estimation, job costing, project profitability analysis, inventory valuation, cost control, variance analysis, budgeting, MIS reporting, and audit support.

5. Is manufacturing experience required?

Yes. Relevant costing experience in an engineering manufacturing environment is required. Experience with machinery, fabrication, process equipment, and project-based manufacturing is preferred.

6. Which software skills are needed?

Candidates should have working knowledge of Tally and/or ERP systems and strong MS Excel skills.

7. How can candidates apply?

Candidates can visit https://www.orbitconsultancy.in/  and submit their updated CV to Orbit Global HR Consultants LLP, mentioning the Costing Accountant vacancy in Pune.