Cost Accountant

We are seeking to engage a detailed-oriented and analytical individual to join our Accounts Department in the role of Cost Accountant. The successful candidate will have the responsibility to manage pricing, inventory, major overhead expenses, product and raw material costing.

The selected candidate will be instrumental in process improvement, budgeting and forecasting.

Main Responsibilities:

• Work closely with the product development team to determine the cost of recipes and new product formulations.
• Update product costing and raw material price listings for Retail locations.
• Update the inventory system and control sheets with revised costs periodically.
• Distribute the costing of manufactured items to the relevant departments in a timely manner.
• Submit monthly reports detailing any notable modification to the cost of manufactured goods, raw material or menu items in accordance with Pricing Policy.
• Conduct cost simulations and sensitivity study periodically.
• Oversee the application of costing methodologies, such as standard costing to accurately allocate costs to products.
• Evaluate the accuracy and relevance of existing costing systems and recommend enhancements as needed.
• Provide recommendations for menu engineering and pricing strategies to maximize profitability while maintaining competitiveness in the market.
• Prepare price adjustments in accordance with the Pricing Policy.
• Prepare regular cost reports, including standard cost updates for manufactured goods, variance analysis, food cost analysis and cost of goods sold (COGS) reports.
• Oversee vendor relationships and ensure favourable terms and pricing agreements.
• Assist in the preparation of monthly financial statements.
• Supervise and train employees reporting to this role, including the facilitation of periodic staff meetings.
• Conduct staff evaluation and review as per company policy.

Required Qualification & Experience:

• A Bachelor’s Degree in Accounting, Finance or a related field.
• At least 3 years experience in a similar capacity.

• Proven experience as a Cost Accountant in a manufacturing, restaurant, hospitality or the food & beverage industry with a strong understanding of cost accounting principles and methodologies.

Required Skills & Competencies:

• Knowledge of food cost analysis, recipe and product costing.
• Proficiency in Sage 300 Accounting Software.
• Advanced proficiency in Microsoft Excel for data analysis and reporting.
• Excellent analytical skills with the ability to interpret complex data and provide recommendations.
• Keen attention to details and accuracy.
• Ability to prioritize tasks and meet deadlines in fast paced environment.
• Effective communication and interpersonal skills.