Plant Cost Accountant
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Job Location:
Monthly Salary:
Posted on:
9 hours ago
Vacancies:
1 Vacancy
Job Summary
Job Title : Plant Cost Accountant
Qualification : CMA
Job description:
1. Costing and Cost Analysis
- Analyse production costs including raw materials labour equipment usage and overhead expenses.
- Conduct cost-benefit analyses to identify and recommend cost-saving opportunities.
- Develop and maintain standard costing for all sesame products and production processes.
- Monitor actual production costs and compare them to standard costs investigating variances and providing detailed explanations.
- Develop monitor and analyze Cost of Production (COP) on a weekly and monthly basis.
- Identify cost leakages and recommend corrective and preventive actions in coordination with operations.
2. Inventory Management
- Oversee inventory valuation and ensure accurate stock reporting.
- Perform regular inventory reconciliations Raw materials Work-in-progress (WIP) Finished goods Production quantities and consumption and investigate discrepancies.
- Monitor stock movement and consumption to ensure appropriate costing and minimize losses.
- Prepare Inventory ageing and identification of slow-moving and obsolete stock.
- Maintain tight controls over raw materials and finished goods inventory.
- Coordinate supervise and lead physical inventory counts investigate variances and ensure timely closure of discrepancies
3. Variance Analysis
- Analyse variances related to Yield material usage labour efficiency and overhead absorption.
- Provide timely variance and performance reports to management with recommendations for corrective actions.
- Work closely with production maintenance procurement and stores teams to address inefficiencies and drive corrective actions
- Track key operational and financial KPIs linking production performance to financial outcomes.
4. Financial Control & Reporting
- Assume full ownership of the Plant P&L and Balance Sheet.
- Prepare accurate and timely cost reports including cost of goods sold (COGS) and profitability reports
- Prepare and submit monthly management accounts accurately and within defined timelines to Head Office.
- Ensure the accuracy completeness and integrity of all plant-level financial data.
- Assist in planning future production costs based on historical trends and expected changes
- Support annual budgeting forecasting and periodic re-forecasting processes.
- Monitor actual performance against budgets and provide clear actionable explanations for deviations.
5. Plant Accounting & Operations Support
- Partner with the Plant Head and departmental heads to align with operational targets.
- Translate financial data into actionable insights to support plant-level decision-making.
- Ensure proper accounting monitoring and control of:
- Capital expenditure (Capex)
- Repairs and maintenance
- Plant overheads
- Strengthen inter-departmental coordination across Production Stores Maintenance and Logistics.
6. Internal Controls Process Improvement & Compliance
- Ensure strict adherence to internal control frameworks SOPs and company policies.
- Ensure compliance with local statutory requirements of the plant. Ensure accurate deduction remittance and reconciliation of PAYE pension contributions and other employee statutory deductions
- Ensure timely completion of local statutory filings proactively escalating risks or delays to the head office finance.
- Strengthen internal controls to mitigate tax regulatory and compliance risks at the plant.
- Identify opportunities for process improvements to enhance efficiency reduce waste and control costs.
- Work closely with the production and finance teams to implement cost control initiatives.
- Guide supervise and develop the local plant finance and costing team.
- Ensure timely availability of reconciled accurate and complete data from all departments.
Required Skills:
#Costing #Plant #Inventory management #CMA #Financial control
