Job Summary
The Inventory Accountant is responsible for accurate accounting, valuation, control, and reconciliation of inventory across raw materials, consumables, work-in-process (WIP), by-products, finished goods, and spares in a continuous sugar refinery environment. The role ensures inventory integrity in SAP, compliance with accounting standards, and close coordination between operations, stores, production, and finance.
Key Responsibilities
Inventory Accounting & Control
- Maintain accurate inventory records for raw sugar, chemicals, consumables, packaging, WIP, finished goods (sugar, molasses, by-products), and engineering spares.
- Ensure correct valuation of inventory in line with company policy and accounting standards (FIFO / Weighted Average).
- Monitor and analyze inventory movements, adjustments, and consumption trends.
- Investigate variances, shortages, and excess stock.
SAP Operations & Data Integrity
- Ensure all material movements are correctly posted in SAP (GR, GI, transfers, consumption, production postings).
- Reconcile SAP inventory balances with physical stock and general ledger.
- Support month-end and year-end closing activities related to inventory.
- Resolve posting errors, incorrect valuations, and master data issues.
Physical Stock Verification
- Plan and conduct periodic stock counts (daily/weekly/monthly cycle counts).
- Participate in annual physical inventory and surprise checks.
- Investigate discrepancies and prepare variance reports with root cause analysis.
Costing & Production Support
- Support process costing for continuous sugar manufacturing.
- Analyze material consumption vs. standard norms and highlight abnormal losses.
- Monitor process losses, wastage, and recoveries specific to sugar refining.
Reporting & Compliance
- Prepare inventory reconciliation statements, aging analysis, and reports on slow-moving/obsolete inventory.
- Ensure compliance with internal controls, audit requirements, and statutory regulations.
- Provide inventory-related data for internal and external audits.
Coordination & Communication
- Work closely with stores, production, procurement, and finance teams.
- Act as the finance point of contact for inventory and material management matters.
Qualifications & Experience
- B.Sc. in Accounting, Finance, or Commerce (Professional certification such as ACA / ACCA preferred).
- 3–7 years of experience in inventory accounting in manufacturing (preferably Sugar Industry, FMCG, or continuous process manufacturing).
- Hands-on experience with SAP MM, PP, CO & FI modules.
- Strong understanding of inventory accounting and costing principles.
Skills & Competencies
- Excellent analytical and reconciliation skills with strong attention to detail.
- Ability to work under pressure in continuous operations.
- Knowledge of manufacturing flows in 24/7 operations.
- Familiarity with by-product accounting (molasses, bagasse) and process losses/yield analysis.
- Strong communication and cross-functional coordination skills.
Personal Attributes
- Integrity and professionalism.
- Problem-solving mindset and ability to work independently.
- Resilience and adaptability in a fast-paced environment.
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