POSITION TITLE Cost Accountant OPERATING DIVISION Finance EMPLOYEE GROUP Permanent REPORTING TO Finance Manager DOTTED LINE REPORTING General Manager LOCATION Centurion MAIN PURPOSE: This position plays a crucial role in the financial management of the organisation by analysing and reporting on various aspects of production costs.
This position involves monitoring, recording, and analyzing all costs associated with the manufacturing process to ensure accurate financial reporting and informed decision-making.
ROLE-SPECIFIC ACCOUNTABILITIES: Key Results Areas / Accountabilities Cost Analysis: Conduct detailed analysis of manufacturing costs, including direct labor, direct materials, and overhead expenses.
Regularly review and update cost estimates for new and existing products vs expectations.
Analyse variances between actual and standard costs, identifying and investigating any discrepancies.
Regularly review the BOM to ensure accuracy with what is happening on the production floor.
Inventory Management: Oversee the valuation of inventory and ensure accurate recording in the financial statements.
Collaborate with the production team to reconcile physical inventory with accounting records.
Observe and review the inventory processing procedures regularly i.e.
Receiving, Inter-warehouse transfers, daily production reconciliation, issues to production etc.
Implement and maintain effective inventory control measures.
Financial Reporting: Prepare and present regular financial reports related to manufacturing costs to management.
Provide insights and recommendations based on cost analysis to support strategic decision-making.
Assist in the preparation of budgets and forecasts related to manufacturing activities.
Month-end Close: Play a key role in the month-end closing process, ensuring accurate and timely financial reporting.
Reconcile general ledger accounts related to manufacturing costs.
Process Improvement: Identify opportunities for cost reduction and operational efficiency within the manufacturing process.
Collaborate with cross-functional teams to implement process improvements and cost-saving initiatives.
Compliance: Ensure compliance with relevant accounting standards and regulations.
Assist in internal and external audits related to manufacturing costs.
Communication and Collaboration: Collaborate with various departments, including production, procurement, and finance, to gather relevant cost information.
Communicate effectively with team members and stakeholders, providing insights and answering inquiries related to manufacturing costs.
KEY WORK RELATIONSHIPS: Internal/External Direct Department /Other All Stake holders Contractors Service Providers Finance Department Marketing Sales Operations Supply Chain HR SHEQ and R&D ROLE-SPECIFIC REQUIREMENTS: Qualifications & Experience Key Competencies Qualification: Bachelors degree in Accounting, Finance or relevant field Professional certificates will be an added advantage (e.g.
CIMA, SAICA).
Experience: Proven experience in Cost Accounting, preferably in a manufacturing industry Must have knowledge of: Accounting software and ERP systems (Sage 200 Evolution v9) Microsoft Office Suite (Word, Excel, PowerPoint, Outlook).
Strong Analytical skills: essential for accurate financial data analysis Strong Problem-Solving Skills: Ability to identify issues, analyse situations, and develop practical solutions to address challenges.
Attention to Detail: to ensure accuracy and integrity of information.
Working under Pressure: ability to work under tight deadlines.
Communication Skills: excellent verbal and written skills Organizational Skills: Ability to maintain structured workflows to ensure smooth business operations.
Interpersonal Skills: Strong interpersonal abilities to build positive relationships with colleagues, and clients, fostering a welcoming and inclusive environment.
Teamwork: to collaborate effectively with diverse teams to achieve common goals and objectives.
Customer Service Orientation: Commitment to delivering exceptional customer service to both internal and external stakeholders.
Adaptability: Flexibility to adapt to changing priorities Leadership Skills: Ability to lead and motivate self and others, and inspire colleagues to perform at their best in delivering top-quality services.
Confidentiality: Ability to maintain confidentiality and exercise extreme discretion
