Role Overview
Oversee financial management, strategic planning, and risk management to drive business growth and profitability.
The Cost Accountant meticulously tracks and analyzes all expenses while supporting strategic decision-making through financial insights.
Key Responsibilities
Analyze and report financial performance. Prepare and review financial statements (balance sheet, income statement).
Develop and maintain financial models and forecasts. Conduct variance analysis and identify areas for improvement.
Develop and implement cost accounting systems. Track and analyze direct and indirect costs.
Conduct cost-benefit analyses and recommend cost-saving opportunities.
Develop and manage budgets. Prepare and review forecasts and analyze budget variances.
Conduct sensitivity analysis and support financial planning.
Develop and implement inventory management systems.
Track and analyze inventory levels and recommend optimization strategies.
Ensure compliance with accounting standards and regulations while identifying financial risks.
Conduct special financial studies and analyses and implement process improvements.
Provide financial support for strategic initiatives.
Supervise and mentor cost accounting staff.
Communicate financial results to management and non-financial stakeholders.
Present financial information to senior management.
Collaborate with other departments.
Key Performance Indicators (KPIs)
Gross Margin Percentage > 60% per quarter
Net Profit Margin > 60% per quarter
Operating Expense Ratio < 10% bi-annually
Material Cost Variance < 18% annually
Overhead Cost Variance > 10% per quarter
Inventory Turnover Ratio < 8% annually
Inventory Accuracy < 89% annually
Capital Expenditure (CAPEX) Variance < 5% per quarter
Revenue Growth Rate > 95% per quarter
Requirements/Qualifications
Educational Qualifications:
MSc, BSc, or HND in Accounting
Professional Certifications:
Institute of Chartered Accountants of Nigeria (ICAN)
Association of Chartered Certified Accountants (ACCA)
Chartered Institute of Management Accountants (CIMA)
Association of National Accountants of Nigeria (ANAN).