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.