Inventory Accountant at Life Flour Mill Limited

Department: Finance
Reports to: Finance Lead
Location: Sapele, Delta State

Job Summary:

This role involves managing the inventory accounting system, reconciling inventory accounts, conducting regular audits, and ensuring compliance with financial regulations.

Key Responsibilities:

Accounting, Reporting, Analysis

• Daily accounting entries are correct, complete, timely and authorized (stock, production, losses/variances/shrink). Both execution as well as review of OPS entries.
• Weekly reporting and analysis of inventory management information and production information (stock levels, value/Mt, position in days, DIO, extraction, obsoleteness, slow moving, stock variances, wheat cost per Mt, extraction, shrink)
• Root cause analysis of all inventories related identified issues and follow up on action plans and timing
• Reconcile BI and NAV.
• Reconcile GO and NAV.
• Manufacturing and RM cost analysis and reconciliation.
• Prepare any other required reports (internal or external) related to the areas of responsibilities.

Controls and Compliance

• Perform allocated monthly balance sheet reconciliations are adequately prepared, reviewed and concluded on WD+5.
• Review allocated balance sheet reconciliation for selected accounts.
• Setup a mass balance control.
• Stock take management (plan, lead, conclude, report)
• Grind out certification
• Verification of NAV information on inventory and production (q, p, provisions, BOM etc)
• Compliance of inventory related (accounting policies) and translation to local policies.
• Communicate timely on non- compliance with standards for inventory and production

Audits, reviews, assessments

• Support the year end audit and ensure that auditors are provided with the required information and documentation on time.
• Lead and ensure accurate and timely completion of other internal, external and governmental audits.
• Responsible for timely and effective remediation of all audit findings occurring in the area of responsibility

Development

• Setup and implementation of inventory policies (cross department)
• Follow developments in production, commodity, milling industry, supply chain
• Actively participate and contribute in meetings and business inter actions as required.
• Report development to make reporting most efficient.
• Take an active role in the enhanced use of the current and future system in relation to the areas of responsibilities.
• Maintain existing or obtain credentials and certifications related to improving the performance of your duties.
• Seek out additional educational opportunities in line with Company needs.
• Improve and/or keep up to date with MS Office Suite skills and MS NAV

Staff management

• Train 1 junior accounts clerk/trainee/intern per year on the value chain, inventory and relevant accounting policies
• Train 1 backup team member
• Document SOPs for processes relating to the areas of responsibility
• Any other assigned task or responsibility by management

Qualifications:

• Education: Bachelor’s degree in accounting, Finance, or a related field.
• Experience: 2-5 years of experience in accounting, with a focus on inventory management or cost accounting.
• Certifications: intermediate of ACCA, CA, CMA etc. certification
• Age: 25 – 35years

Skills and competencies:

• Strong analytical and problem-solving skills.
• Proficiency in accounting software (e.g. Microsoft NAV and Microsoft office
• Excellent attention to detail and organizational skills.
• Ability to work independently and as part of a team.
• Knowledge of GAAP and other relevant accounting standards.