Question

In: Accounting

The new CEO of Sena Manufacturing company ltd, with a labour force of 250 workers and...

The new CEO of Sena Manufacturing company ltd, with a labour force of 250 workers and six
functional departments, had undertaken scoping operational assessment of the company in the
third week of his resumption and in his initial assessment and view, he argues that maintaining
both Cost Accountant and Financial Accountant amount to duplication of functions and waste
of scare resources of the company. You are required as the current Cost Accountant with
the company for over seven (7) years, submit in a memo, strategic role you are discharging
in the company.
A

Solutions

Expert Solution

As cost accountant i has been working in the organisation for last 7 years and performing the following key responsibilities:-

1)  Planning, Studying, and collecting data to determine costs of business activity such as raw material purchases, inventory and labor.

2) Analyzing data collected and recording results

3)  Analyzing changes in product design, raw materials, manufacturing methods or services provided, to determine effects on cost

4) Analyzing actual manufacturing costs and preparing periodic reports comparing standard costs to actual production costs

5) Recording cost information for use in controlling expenditures

6) Analyzing audits of costs and preparing reports

7) Making estimates of new and proposed product costs

8) Providing management with reports specifying and comparing factors affecting prices and profitability of products or services.

9) Maintaining Cost Accounting System

10) Assisting in Month end close of the General Ledger

11) Conducts physical inventories and monitors cycle count program

12) Reconciles finished goods inventories

Also for your kind information, at the time of joining the organisation i was carrying the following experience, skill & qualification:-

1)  Minimum of 2 solid years of Cost Accounting in a Manufacturing Environment

2)  Bachelors Degree in Accounting

3)  Must have a strong Cost systems background and have excellent analytical skills; sound understanding of accounting principals.

4) Computer Literate – Strong Excel skills and the ability to use Outlook and Word

5)  Experience with MAPICS a plus

6)  Experience working with engineering and manufacturing personnel on development and analysis of cost standards

7) Ability to accurately prepare daily, weekly, monthly, quarterly and annual reports

Consudering my above key responsiblity area it is crystal clear that my job profile specfic one that is totally differenct from other job profile and hence not comparable.


Related Solutions

The new CEO of Sena Manufacturing company ltd, with a labour force of 250 workers and...
The new CEO of Sena Manufacturing company ltd, with a labour force of 250 workers and six functional departments, had undertaken scoping operational assessment of the company in the third week of his resumption and in his initial assessment and view, he argues that maintaining both Cost Accountant and Financial Accountant amount to duplication of functions and waste of scare resources of the company. You are required as the current Cost Accountant with the company for over seven (7) years,...
John Smith is the CEO of Alpha Manufacturing Pty Ltd. This company manufactures high value products...
John Smith is the CEO of Alpha Manufacturing Pty Ltd. This company manufactures high value products in the form of small model aircraft jet engines that are mainly sold online.  The raw materials input for the Jet engines are a series of high value easily marketable items mainly exotic metals and electronic systems that support the engine controllers. There are five models of engine produced, each requiring about 25 components, including screws and fuel connectors. About ten of these components are...
John Smith is the CEO of Alpha Manufacturing Pty Ltd. This company manufactures high value products...
John Smith is the CEO of Alpha Manufacturing Pty Ltd. This company manufactures high value products in the form of small model aircraft jet engines that are mainly sold online.  The raw materials input for the Jet engines are a series of high value easily marketable items mainly exotic metals and electronic systems that support the engine controllers. There are five models of engine produced, each requiring about 25 components, including screws and fuel connectors. About ten of these components are...
1... A local company has recently hired a new CEO. The new CEO decides that the...
1... A local company has recently hired a new CEO. The new CEO decides that the company could perform much more efficiently if the shipping and receiving department was combined with the logistics and transportation department. Which management function is the new CEO performing? a. Organizing b. Controlling c. Planning d. Leading and motivating e. Directing 2. Martha Stewart employs a(n) __________ style of leadership for her lifestyle brand Martha Stewart Living. She makes every decision, no matter how small....
Singapore Clouds Ltd.’s (Microphone manufacturing and selling company), CFO, Mr. Michael has been asked by CEO,...
Singapore Clouds Ltd.’s (Microphone manufacturing and selling company), CFO, Mr. Michael has been asked by CEO, Mr. Ken, to assist with an investment appraisal.  They have recently completed a three-year feasibility study on whether, or not, to expand their market offerings and offer specially designed high-quality microphone for customers and invest in capital infrastructure for the production line.  The market research indicates no other competitors have ever sold this specially designed product before. It might open a completely new market for Clouds...
Use the data reported by the labour force force survey in July 2014 to answer the...
Use the data reported by the labour force force survey in July 2014 to answer the following questions. Statistics Canada’s labour force survey reported the following situations in July 2014: Sarah works 10 hours a week at McDonald’s. She’s available to work more hours but hasn’t looked for extra work. Kevin spent the first six months of 2014 actively searching for a job but didn’t get hired. He believes there are no jobs so he has given up looking. Pat...
The CEO of a large manufacturing company is curious if there is a difference in productivity...
The CEO of a large manufacturing company is curious if there is a difference in productivity level of her warehouse employees based on the region of the country the warehouse is located. She randomly selects 35 employees who work in warehouses on the East Coast (Group 1) and 35 employees who work in warehouses in the Midwest (Group 2) and records the number of parts shipped out from each for a week. She finds that East Coast group ships an...
Can the labour force of Amazon company be trained further to increase productivity and lower cost...
Can the labour force of Amazon company be trained further to increase productivity and lower cost of production?
4.Show how a company in a competitive labour market decides to set the number of workers...
4.Show how a company in a competitive labour market decides to set the number of workers they hire in the short run. What is the nature of the demand curve?
You are the CEO of a widget manufacturing company. The company is experiencing financial trouble, and...
You are the CEO of a widget manufacturing company. The company is experiencing financial trouble, and needs to produce more widgets in order to stay in operation. In order to encourage your employees, you declare at a meeting that “if everyone works really hard this year and we meet production standards, I’ll give every employee $100.” Employees work unusually hard in response and by the end of the year the firm meets the expected standards. It is also in much...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT