Accounts Department :

Reporting of Monthly Financial Deck for review to Accounts and Finance Department heads and afterward discussed with Plant managers of respective Division and ultimately drafted to present Directors.
Reporting of Consolidated and Division-wise Profit and loss statement, Cashflow statement (Direct and Indirect Methods), Statement of changes in Receivables showing problematic cases.
Reporting of Statement of changes in Inventory, Capital Work in Progress YTD Division Wise.
Reporting of Per day Per spindle Cost and Per day Per loom Cost to show efficiencies and inefficiencies in the production process.
Preparation of Division-wise (Spinning, Weaving, Denim, Apparel) Stock Aging on monthly basis.
Preparation of Month-wise Stocks Consumption reconciliation with impact in Financials to show discrepancies in G/L determination.
Taking the initiative and taking information to impose the importance of cost centre-wise data entry so that the system can report P/L on the basis of Cost centres for the control perspective defined In SAP B1.
Presenting Top management on the monthly basis a report showing Sales analysis regarding Customer-wise, Sales Person-wise, Region-wise, and Product-wise Contribution and Gross profit analysis.

Costing Department :

Led the Transitional Process from Legacy Customised based accounting software to SAP B1 and formed a bridging process between the MIS team and Abacus Consultants for the smooth transition from the Spinning division to the Apparel division Throughout.
Providing Top Management with Article wise and Sale order-wise Pre-order costing on a Daily Basis in CRM Based Interactive live Analytical Tool.
Sales budget/forecast showing relative predictions about contribution margin for the coming month to make timely decisions regarding changing sales mix and plan.
Half-month basis Post order costing review on completed production and despatch Quantities.
Presenting Top management and Production heads with Department/unit-wise a variance analysis report providing reasons for variances and way forward for the same problems and also enquiring for reasons ultimately calling a meeting with the concerned department for resolution of un-tendered issues.
Weekly basis Productions Order analysis and highlighting the errors in them and also same practices are performed with BOMs.
Coordinating with MIS and IT team to build system controls so that abnormalities remain under control and are highlighted at initial stages.
Monitoring the systems so that all costs are allocated to products accurately, implementing controls at different stage-wise and department-wise controls.
Ensuring FOH absorption rates are live and latest in the System and are in accordance with current GL expenses and highlighting under and over-absorption.
Monitoring Stock takes and overseeing that departmental manual stock sheets are matching with system stock.
Presenting Directors with Sales order wise report showing Cut to ship losses report In the Apparel division (Missing garments grade, Cut pieces, D Grade, etc).
Presenting on a weekly basis to the Management team and Department heads Production Reconciliation with Department-wise Quantitative Losses, Process losses like shrinkage sanfo, loss, and sizing un sizing wastage.
Reconciling stocks with Balance Sheet GL accounts on a month-end basis showing wrong GL determination with differences.
Building controls in the system so that the majority of variances are absorbed in product cost rather than Charged to P&L and providing training regarding the system and how it works and how it calculates the cost in order to ensure that people accept change and system.

 

Costing Department

Providing top management and marketing team with pre-order costing based on latest available POs and also allocating variance.
Providing Management with report Showing Per unit cost for imported items and their respective import duties.
Booking of Import duties (LCs) in SAP B1 for obtaining project wise import expense report. 
Item wise profitability report showing direct allocated expenditures and revenues and Indirect Allocated (Product wise Profitability).
To ensure that costs for the company’s products and services are allocated according to corporate procedures and in compliance financial accounting    standards.
Oversees the cost control systems, manages and interprets cost audits, and prepares cost accounting reports for presentation to top management.
Ensure that there is accurate recording of expenditure in the appropriate journals and ledgers.
Performing monthly stock valuation for Raw material, Work in Process, Finished Goods.
Preparing monthly report of contribution per unit for top management.
Reporting top management with month wise and product wise cost price showing relative inflationary/deflationary impact on product costs.
Provide assistance to the organization in preparing budget process by encouraging the budget holders to submit budgets at the expected time
Performing Variance Analysis and Defining Responsibility for Variances
Preparing monthly quantitative stock reconciliation to justify material consumption in financials
Conducting Monthly Stock take for Various Types of Stocks Using Different Audit Techniques.

 Accounts Department

Establishes financial status by developing and implementing systems for collecting, analysing, verifying, and reporting financial information, and managing accounting staff.
Preparation of monthly Financial Statements for the top Management and interpreting the direction of company with respect to analysis of key performance indicators.
Achieves accounting operational objectives by contributing accounting information and recommendations to strategic plans and reviews; preparing and completing action plans; implementing production, productivity, quality, and customer-service standards; resolving problems; completing audits; identifying trends; determining system improvements; and implementing change.
Meets accounting financial objectives by forecasting requirements, preparing an annual budget, scheduling expenditures, analysing variances, and initiating corrective actions.
Confirms financial status by monitoring revenue and expenses; coordinating the collection, consolidation, and evaluation of financial data; and preparing special reports.
Maintains accounting controls by establishing a chart of accounts and defining accounting policies and procedures.
Guides other departments by researching and interpreting accounting policy and applying observations and recommendations to operational issues.
Avoids legal challenges by understanding current and proposed legislation, enforcing accounting regulations, and recommending new procedures.
Updates job knowledge by participating in educational opportunities, reading professional publications, maintaining personal networks, and participating in
professional organizations.
Interacted with MIS & Finance Manager during ERP system implementation process, capitalize on this knowledge to better reveal system user friendliness. 
Inventorization of Landed cost relating to imported raw materials and managing its consumption. 
Accomplishes accounting and organization mission by completing related results as needed.

 Other Assigned Duties

Providing top Management, a month wise Ratios Analysis with Interpretation of the same and developing a direction for the Organization.
For the Sake for Cost Leader Strategy a competitor Analysis is done to look for any cost reduction as compared to competitors in Industry.
Budgeting (For Control Purposes)
Communicating banks about financial health of company.
Forecasting (Cost/Benefit Analysis).
Preparation of Forecasted Financial Statements for Lenders (Banks) for pursual of Fixed Assets purchase or othwerwise monthly requirement.