Job Title: Factory Cost Accountant
Location: PE
Department: Finance
Job Purpose:
To manage and oversee all aspects of factory cost accounting, including cost management, budgeting, forecasting, inventory management, and financial reporting. The role requires expertise in SAP, stock counts, and a CIMA qualification with a focus on manufacturing.
Key Responsibilities
1. Cost Management
- Monitor and control manufacturing costs to ensure they are within budgeted limits.
- Analyze cost variances and implement corrective actions to address deviations.
2. Budgeting and Forecasting
- Prepare and manage annual budgets and financial forecasts.
- Provide detailed financial analyses and projections to support strategic decision-making.
3. Financial Reporting
- Generate accurate and timely financial reports related to manufacturing costs, budget adherence, and other key metrics.
- Ensure reports are prepared in accordance with financial regulations and internal standards.
4. Inventory Management (UF)
- Oversee UF inventory levels and ensure accurate valuation.
- Conduct regular inventory reviews and adjustments to maintain accuracy.
5. Compliance and Auditing
- Ensure adherence to financial regulations and internal controls.
- Support stock counts and external audits by providing necessary documentation and analysis.
6. Process Improvement
- Identify and implement cost-saving measures and process efficiency improvements.
- Recommend and drive changes to improve cost management practices.
7. Capex
- Support the assessment and preparation of Capital Expenditure (Capex) projects.
- Analyze Capex proposals and track investment performance.
Key Performance Indicators (KPIs)
1. Cost Variance
- Measure and manage the difference between budgeted and actual costs.
2. Inventory Turnover Ratio
- Track how often inventory is sold and replaced over a specified period.
3. Product Cost
- Ensure accuracy of product costing and alignment with Bill of Materials (BOMs).
4. Budget Accuracy
- Assess the degree to which actual spending aligns with the budgeted figures.
5. Return on Investment (ROI)
- Evaluate the profitability and financial returns of investments in manufacturing processes.
Qualifications and Experience
1. Education
- CIMA qualification with a focus on manufacturing or related fields.
2. Professional Experience
- Proven experience in cost accounting within a manufacturing environment.
- Demonstrated experience with SAP and its integration into financial and cost accounting processes.
- Hands-on experience with stock counts and inventory management.
3. Skills
- Strong analytical and problem-solving skills.
- Excellent proficiency in SAP and advanced MS Excel skills.
- Ability to prepare detailed financial reports and forecasts.
- Strong understanding of cost management principles and financial regulations.
4. Personal Attributes
- Detail-oriented with a high degree of accuracy.
- Strong communication and interpersonal skills.
- Ability to work independently and as part of a team.
