Job Summary
The Cost Accountant is responsible for monitoring the organizations' costs and producing reports for budgetary, pricing, and cost analysis purposes. This role is responsible for tracking spending, changes in inventory costs and ensuring accuracy and compliance of cost records.
Duties and Responsibilities
1. Provides details of actual performance, variances from budget and explanations for variances from budget for the purposes of monitoring performance against planned and enabling corrective action to be taken in meeting management objectives.
2. Reviews costing journals at the end of the month, to record all movements of direct materials.
3. Assists in the co-ordination and management of the company plans and forecast ensuring that the information provided is timely and accurate and aligned with strategies developed to determine the company’s future financial performance.
4. Produces and analyses the costing/models/projections information for any of the sector business / projects.
5. Provides accurate and timely costing analytics and reports.
6. Participates in determining the financial impact of the various cost initiatives included in the annual plan with respect to raw materials initiatives and actively follow-up on implementation.
7. Assists in conducting monthly budget meetings with the various departments to determine reasons for variances from budget and to record major issues discussed, ensuring proper cost allocations.
8. Prepares special reports, sensitivities, and analyses in order to aid management decision making, to ensure that the financial impact of decisions is considered.
9. Develop and lead monthly wastage meetings with various operations team to reduce the wastage.
10. Assist the finance team with monthly and year end closure.
11. Work with Operations team to understand changes in processes, impact on cost drivers and recommend improvement where necessary.
12. Complies with all standards and procedures as outlined by the workplace policy.
13. Perform any other job duties as required by the job function.
PERSON SPECIFICATION
Minimum Education and Qualifications
- ACCA Professional Qualification, Chartered Institute of Management Accountants (CIMA), CMA OR equivalent.
Experience
- At least three (3) years similar experience in a manufacturing environment.
- Sound understanding of management accounting.
- Sound understanding of pricing structures and costing systems.
- Proficient in MS Office with advance in MS Excel.
Or any equivalent combination of qualification and experience.
Competencies
- Must be able to analyse and synthesize information to understand issues to make recommendations.
- Collaborative with the ability to be a key team player and possess good interpersonal skills.
- Ability to articulate thoughts and express ideas clearly using oral, written, visual and non-verbal communication skills.
- Resilient and the ability to work effectively under pressure without becoming flustered.
- Ability to organise work so that tasks each to complete work on time, prioritize projects and communicate progress to supervisors and colleagues.
- Ability to display a high level of integrity by keeping good on promises; holding self-accountable; and being honest and truthful.
- Ability to supervise and provide constructive feedback to the finance team members to do their best work.
- Ability to facilitate and show meticulous, strong attention to detail in work.