Cost Accountant

Cost Accountants is responsible for the control of fixed and variable costs of products to determine the company’s total cost of manufacturing for effective cost management and decision-making and analyze costs, develop budgets, manage inventory, and identify cost-saving opportunities.

Duties & Responsibilities:

• Cost Allocation

One of the primary functions of cost accounting is to allocate costs to different products. This allocation helps in understanding the cost structure and identifying areas for cost control and reduction.

• Cost Control

Cost accounting helps in controlling costs by monitoring cost of production and comparing them to standards or budgets. Variances are analyzed to identify areas of inefficiency and take corrective actions.

• Cost Reduction

Cost accounting seeks to minimize expenses while preserving or enhancing the quality of products. It involves analyzing cost data to identify areas where cost of production can be minimized through improved processes, better resource utilization, and waste reduction.

• Budgeting and Forecasting

Cost accounting provides historical cost data and trends, which are essential for budgeting and forecasting. This information helps in setting realistic budgets and predicting future costs and revenues.

• Pricing Decisions

To set prices that both attract customers and generate profits, accurate cost data is important. Cost accounting provides insights into the cost structure, helping businesses determine the appropriate pricing strategy.

• Profitability Analysis

Understanding the cost structure allows businesses to analyze the profitability of different products, services, or departments. This analysis helps in making informed decisions about resource allocation and product mix.

• Inventory Valuation

Cost accounting provides an accurate valuation of inventory by determining the cost of goods sold and the cost of goods remaining in stock. This data is also important for tax compliance.

• Inventory Control

Cost accounting needs to perform inventory controls by ensuring all stock transactions are reflected in the system and analyze all inventory ledgers.

• Preparing a production loss report on a monthly basis.

• Preparing actual inventory costing on a monthly basis.

• Preparing a costs pf goods sold (COGS) report on a monthly basis.

• Preparing a price and usage variance analysis on a monthly basis.

• Prepare a delivery note summary for finished goods produced during the month.

• Control and report finished goods return from commercial warehouses to finished goods store at factory to avoid double excise tax payment up on reissuance of finished goods.

• Checking standard unit costs in to a system based on standard costing analysis on a monthly basis.

• Preparing and communicating breakage of full goods on a weekly basis to concerned staffs across department.

• Monitor inventory disposal

• Prepare inventory information required by tax authority and communicate to Finance Manager.

• Verifying documentation of stock issue and ensure it follows set procedures

  Reconciliation

• Cost accounting needs to perform monthly reconciliation all inventory ledgers.

• Monthly reconciliation of count Vs subsidiary inventory accounts.

• Monthly reconciliation of inventory subsidiary Vs control accounts.

• Monthly reconciliation finished goods produced by production Vs finished goods stores at factory.

• Monthly reconciliation of free goods issued for promotion

• Monthly reconciliation of issued stock and transfers

• Monthly reconciliation of production consumption versus system and physical movement. As well as analyzing use of stock versus recipes.

• Weekly reconciliation of input materials finished goods, full goods and empty goods stock.

• Support team on any tasks as needed e.g., filing, sorting of documentation.

• Undertake any additional duties as may be given by Management Accounting Lead or Finance Manager. insights into the cost structure, helping managers make informed decisions about pricing, production levels, product mix, and resource allocation.

Job Requirements

Education:

• BA/MSc in the Accounting and Finance field of study from a recognized and reputable institution.

Experience:

• A minimum of 3 years’ experience in a Senior Finance role.

Skills:

• Strong interpersonal, communication and presentation skills. 

• Reporting and analytical skills.

• Attention to detail and ability to manage multiple tasks effectively

• Excellent organizational and time management skills.

Competencies /Knowledge, Ability and Skill         

• Advanced MS office skill

• A good working knowledge of ERP software skills.

How to Apply

Those who meet the above requirements can submit their CV using THIS LINK

Kindly Note only short-listed candidates will be contacted. 

Female applicants are highly encouraged to apply