Cost Accountant
The Cost Accountant will have the following key responsibilities:
- Develop and maintain a detailed, accurate and reliable cost accounting system that ensures accurate costing of all products manufactured.
- Produce daily production, variance analysis and ad hoc reports as required by the role.
- Implement (where applicable), review and analyze standard versus actual costs variances and prepare the relevant reports that are relevant to all internal and external stakeholders.
- Update standard costs frequently to ensure accurate costing metrics and ensure the reliability and accuracy in the Bill of Materials (BOM’s).
- Coordinate with relevant stakeholders to facilitate the periodic update of the standard costs in the bill of materials.
- Review and recommend changes to the company’s processes and policies to ensure efficiency in production costs and to maximize margins.
- Advise executives and upper management on appropriate costing methods based on financial data.
- Prepare, analyze and report monthly gross margin analysis by customer, product type / SKU for all products manufactured and sold.
- Analyze changes in product design, raw materials, manufacturing methods, or services to determine effects on costs.
- Collect and analyze data about a company’s operational costs.
- Establish, allocate and report on costs of business processes such as administration, labor, shipping, and identify areas of cost inefficiencies to be addressed.
- Manage account reconciliation of physical inventories and cycle counts on an end-to-end basis.
- Prepare periodic inventory reserves reconciliation, analyzing production levels required to ensure supply requirements are met, inventory at risk, and monitoring with support from internal stakeholders to ensure inventory levels are effectively produced and on hand.
- Assist in month-end, year-end, and audit reporting requirements by analyzing all related costs associated and relevant to inventory and preparing supplemental reports as needed by the relevant internal and external stakeholders.
- Implement and report on variable and fixed costs.
- Prepare budget and forecast data reports (for the company and for each department).
- Ensure accurate classification of expenses as per the requirements of IFRS and management reporting requirements.
- Analyze manufacturing costs and prepare periodic reports comparing standard prices to actual production costs.
- Report on relevant finance data including, but not limited to, relevant KPI data.
- Carry out departmental reporting within the business and do detailed analysis of actual versus budget variances while also recommending to the respective stakeholders on how they need to meet financial targets and strategies.
- Accomplish planning, controlling, accounting and reporting activities of costs and of special projects (where applicable).
- Review all major contracts/orders to ensure that the specs are adequately costed and priced within the system and to ensure that profitability is measured accurately.
- Inspect and design controls over physical inventory and design and implementation of controls to ensure accurate reporting.
Desired Experience & Qualification
- CA(SA) or CIMA qualification.
- Minimum of 3+ years post articles experience required.
- Proven work experience as a Cost Accountant, Cost Analyst, Accountant or similar role in a manufacturing business with costing experience.
- Thorough knowledge of standard costing methodologies and IFRS requirements.
- Experience with Syspro accounting software is beneficial.
- Advanced computer literacy in MS Excel in particular.
- Excellent analytical skills with an attention to detail.
A self-starter with excellent problem-solving skills and ability to interact with internal and external stakeholders at various levels within the organization.
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