Job Description
Responsible for the accurate and timely recording and reporting of revenue and sales transactions following the revenue recognition principles and sales accounting, as well as accurate and timely recording of product costing. This position will play a critical role in analyzing sales data, tracking revenue streams, reconciling sales figures and product costing to support financial decision-making and compliance with accounting standards.
Key Duties and Responsibilities
Revenue & Sales Analysis:
Revenue Recognition: Review and analyze revenue transactions to ensure compliance with
accounting standards (e.g., GAAP / IFRS). Analyze contracts and sales agreements to determine
proper revenue recognition methods. Apply appropriate revenue recognition criteria based on the
nature of products or services delivered.
Sales Data Analysis & Transactions: Collect, consolidate, and analyze sales data from various
sources, including sales reports, customer contracts, and financial records. Identify trends, patterns,
and key performance indicators (KPIs) to evaluate the effectiveness of sales strategies. Record and
reconcile sales transactions, ensuring their accuracy and completeness. Verify the proper
classification of revenue and sales-related expenses.
Sales Order and Invoicing: Collaborate with the Sales and Credit & Collection teams to ensure
timely and accurate invoicing of customers for products and services delivered.
Pricing Analysis: Evaluate product and service pricing structures to ensure they align with
production costs and market conditions. Provide insights on optimal pricing strategies to maximize
profitability.
Budgeting and Forecasting: Assist in the development of revenue forecasts to support budgeting
and financial planning activities.
Financial Modeling: Assist in the development of financial models to assess the impact of different
sales mixed scenarios and support strategic decision-making processes.
Process Improvement: Continuously improve revenue and sales accounting processes,
methodologies, and tools to enhance accuracy and efficiency. Collaborate with cross-functional
teams to streamline processes, reduce inefficiencies, and enhance cost-effectiveness throughout
the organization.
Data Integrity: Ensure the accuracy and integrity of revenue and sales data by conducting regular
audits and implementing data validation processes.
Inventory Costing and Analysis:
Cost Analysis: Conduct in-depth cost analysis for various aspects of the organization, including production,
projects, processes, and product lines. Use cost accounting methodologies to allocate costs accurately and
identify cost drivers. Utilize financial data and other relevant information to identify trends, patterns, and
areas for improvement.
Inventory Valuation: Monitor and analyze inventory levels and ensure accurate valuation in accordance with
the applicable accounting standards (e.g., GAAP, IFRS). Attest in the periodic inventory counts conducted by
Warehouse Department. Perform periodic inventory reconciliations and adjustments. Calculate and
monitor the provision for inventory shrinkage.
Cost of Goods Sold (COGS) Calculation: Calculate and analyze the COGS for different products and product
lines. Collaborate with the production and procurement teams to track cost variances and identify
cost-saving opportunities.
Cost Estimation: Analyze data to estimate the cost of potential projects, new product development, or
expansion initiatives, assisting in making well-informed investment decisions.
Cost Control: Collaborate with cross-functional teams to implement cost control measures and monitor
their effectiveness. Identify areas for cost optimization without compromising product quality and
operational efficiency.
Cost Reporting: Prepare and present regular cost reports to management, highlighting key cost drivers,
trends, cost-saving opportunities, cost control measures, and actionable recommendations.
Overhead Analysis: Analyze and allocate overhead costs to various departments or projects, as applicable,
to determine their impact on overall costs and profitability.
Data Integrity: Ensure the accuracy and integrity of cost data by conducting regular audits and
implementing data validation processes.
Budgeting and Forecasting Support:
Budgeting and Forecasting: Assist in the development of revenue and cost budgets and forecasts. Monitor actual revenue and costs against budgeted figures and provide variance analysis reports to relevant stakeholders.
Management Reporting:
Ensure the timely, accurate and thorough preparation and submission of the
detailed revenue and product costing and inventory valuation to management and related Balance Sheet schedules to support the preparation of financial statements.
Compliance and Regulations:
Ensure compliance with revenue and cost accounting standards and financial reporting regulations while performing cost analysis. Stay updated on financial regulations and industry best
practices related to cost analysis and ensure adherence to relevant standards.
Process Improvement:
Continuously improve cost accounting processes, methodologies, and tools to enhance accuracy and efficiency. Collaborate with cross-functional teams to streamline processes, reduce
inefficiencies, and enhance cost-effectiveness throughout the organization.
Financial Modeling:
Develop financial models to assess the impact of different revenue and cost scenarios to support strategic decision-making processes.
SAP access:
● Ensure the accurate and real-time execution of tasks related to the process/es they are responsible for,
including the recording of information and report generation in the designated forms and platforms (e.g.
SAP)
● Integrate with other parties/ functions whose processes are interfaced with their processes (to enable
alignment, efficient flow of the process, and effective implementation of controls)
● For detailed SAP-related tasks, please refer to the attached RACI
Other Tasks:
Performs other tasks as may be assigned by the immediate head from time to time.
Actively participate in all company programs and activities under quality improvement, safety & security, sustainability, corporate social responsibility, risk management etc.
