Job Overview
To oversee and manage all factory-related financial activities, including cost accounting, inventory valuation, and production cost control. The Factory Accountant will ensure accurate reporting of manufacturing costs, support budgeting processes, and provide financial insights to enhance operational efficiency and profitability.
Key Responsibilities
Cost Accounting and Analysis
- Maintain accurate costing systems for products and processes.
- Monitor standard costs vs actual production costs; analyse variances and report findings.
- Support product pricing decisions through cost analysis.
Inventory and Production Cost Management
- Track and value raw materials, work-in-progress (WIP), and finished goods.
- Reconcile inventory records with physical counts; investigate and resolve discrepancies.
- Support monthly and annual stock-taking exercises.
Budgeting and Forecasting
- Assist in preparing factory operational budgets and forecasts.
- Monitor budget performance, identify cost overruns or savings opportunities.
- Support management with variance analysis and cost projections.
Financial Reporting and Compliance
- Prepare factory-related financial reports and performance dashboards.
- Ensure compliance with internal controls, accounting policies, and statutory regulations.
- Liaise with auditors during internal and external audits.
Payroll and Labour Cost Monitoring
- Collaborate with HR and production to ensure accurate recording of labour costs.
- Analyse labour efficiency and its impact on production cost.
Fixed Assets and Capital Expenditure
- Monitor capital investments in the factory, including machinery and infrastructure.
- Maintain accurate fixed asset registers and depreciation schedules.
Cross-functional Collaboration
- Work closely with production, procurement, stores, and logistics teams to ensure cost efficiency.
- Participate in operational meetings to provide financial insights and data-driven recommendations.
Qualifications and Skills
Education:
- Bachelor\'s degree in Accounting, Finance, or related field.
- Professional accounting certification (e.g, ICAN, ACCA) is a strong advantage.
Experience:
- 3-5 years of experience in a manufacturing or production accounting role.
- Experience with cost accounting, ERP systems, and inventory control.
Skills:
- Strong analytical and problem-solving skills.
- Proficiency in Microsoft Excel and accounting software (SAP, Sage, QuickBooks, etc.).
- Good communication and interpersonal skills.
- Detail-oriented with a hands-on approach.
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