| Detail | For this role |
|---|---|
| Department | Finance and Accounts |
| Level | Mid level |
| Reports to | Costing Manager |
| Direct reports | None |
| Experience | 1 to 3 years in costing or accounts |
Costing Executive job description template
Copy this job description, replace the text in square brackets and post it on your careers page or a job portal.
Job title: Costing Executive
Department: Finance and Accounts
Reports to: Costing Manager
Location: [City], [office, branch or site]
About the role
A Costing Executive supports the costing team with data, entries and cost sheets. They gather production, material and labour data, help build cost sheets and update rates so the cost accountant and manager can analyse margins. The role reports to the Costing Manager and is often held by someone pursuing the CMA. A good Costing Executive keeps costing data clean and current, chases the numbers from the shop floor and learns the analysis behind the sheets.
Key responsibilities
- Collect production, material consumption and labour data from the shop floor and stores.
- Update material rates, labour rates and overhead data in the costing system.
- Help prepare cost sheets and product costing under guidance.
- Enter and check costing transactions and correct data errors.
- Support inventory valuation by providing consumption, stock and movement data.
- Track scrap, rejection and yield figures and record them.
- Pull reports needed for variance analysis by the cost accountant.
- Help reconcile costing data with production and stores records.
- Maintain costing files and support cost audit data preparation.
- Follow up with departments for missing production or cost data.
Requirements
- B.Com or CMA Inter
- Basic costing and inventory knowledge
- Excel and ERP data skills
- 1 to 3 years in costing or accounts
KRAs and KPIs for a Costing Executive
Key result areas for the appraisal form, each with a KPI you can measure every month or quarter.
| Key result area | How to measure it |
|---|---|
| Data timeliness | Production and cost data collected and entered by the agreed daily cut-off |
| Data accuracy | Data entry errors found on review held below 2 percent each month |
| Rate updates | Material and labour rates updated within the agreed time of any change |
| Cost sheet support | Cost sheet inputs ready for the cost accountant on the agreed date |
| Reconciliation support | Costing and stores data matched each month with differences flagged |
Skills and tools
Tools used day to day: SAP CO, MS Excel, ERP costing screens, Inventory systems, Cost sheet templates.
Reporting line and career path
Next roles: Cost Accountant, Costing Manager, Inventory Accountant
Interview questions for a Costing Executive
- What data do you need to build a cost sheet?
- How do you make sure production data you collect is correct?
- How do you record scrap and rejection figures?
- How do you handle a department that delays giving cost data?
- What is the difference between standard and actual cost?
- How would you check your data entry before it is used?
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What does a Costing Executive do?
A Costing Executive supports the costing team. They collect production, material and labour data, update rates, help prepare cost sheets, enter costing transactions and support inventory valuation and cost audit. They keep costing data clean and current for the cost accountant and manager, and report to the Costing Manager.
What is the difference between a Costing Executive and a Cost Accountant?
A Costing Executive gathers and enters cost data and supports the sheets. A Cost Accountant, usually CMA qualified, does the analysis: standard costing, variances, inventory valuation and margin insight. The executive keeps the data ready; the accountant interprets it and guides pricing and cost control.
What qualifications does a Costing Executive need?
Most Costing Executive roles ask for a B.Com or CMA Inter with basic costing and inventory knowledge and good Excel and ERP data skills. One to three years in costing or accounts is usual. Many people in this role are pursuing the CMA while gaining experience on the job.