Cost Accountant

ROLE IMPACT

The Cost Accountant is responsible for ensuring effective stock control, maintaining of pricing process and variance analysis, by applying the techniques of standard costing specific to the requirements of a manufacturing concern, thereby ensuring accuracy of information provided for informed decision making by stakeholders.

KEY RESPONSIBILITIES

• Monitor and maintain effective inventory control processes to ensure accuracy, reliability and compliance across manufacturing operations.
• Provide key stakeholders with accurate product cost of sales information based on approved monthly standard costs to support strategic and operational decision-making.
• Analyse financial and operational information to identify abnormal cost variances and investigate root causes.
• Maintain and update Bills of Materials (BOMs) to ensure product costing accuracy within financial and operational systems.
• Manage monthly updates of cost prices and transport rates to ensure current and accurate costing information.
• Provide inventory and pricing support to decentralised business units, ensuring effective resolution of queries and operational challenges.
• Support the Management Accountant by assisting with finance-related business unit queries and management reporting requirements.
• Execute month-end close activities, ensuring all costing, inventory and reconciliation processes are completed accurately and within required deadlines.
• Support year-end financial close activities and audit requirements through the timely completion of reporting and reconciliations.
• Perform detailed reconciliations to validate transactions, identify discrepancies and strengthen financial control processes.
• Participate in monthly and bi-monthly stock counts, ensuring inventory accuracy and compliance with stock management procedures.
• Attend bi-annual maintenance spares counts and verify inventory records through the review and sign-off of stock documentation.
• Investigate incorrect capturing of raw material codes and collaborate with relevant plant managers to implement corrective actions.
• Monitor Goods-In-Transit balances and proactively resolve variances to maintain inventory integrity.
• Prepare stock reports, providing commentary and insights on abnormal costs, variances and inventory trends.
• Identify and investigate usage variances and losses, validating findings with relevant operational and plant management teams.
• Ensure manufacturing work orders are accurately closed and maintain reporting of outstanding work orders at month-end.
• Maintain the accuracy of standard costs and manufacturing recovery rates to support reliable financial reporting.
• Analyse Purchase Price Variances (PPVs), assess reasonability and provide recommendations for corrective action where required.
• Support budgeting activities by preparing manufacturing expense budgets and accurately calculating labour and overhead recovery rates.
• Prepare manufacturing expenses and manufacturing recoveries templates for budget uploads and reporting processes.

MINIMUM REQUIREMENTS

Qualifications

Essential

• BCom Accounting.

Advantageous

• Postgraduate qualification in Management Accounting.
• CIMA qualification or studies towards CIMA.

Experience

Essential

• Minimum of 2 to 4 years' experience in a similar costing or accounting role.
• Previous manufacturing industry experience.
• Experience working with inventory control, standard costing and variance analysis processes.

Advantageous

• Experience working within a large finance team.
• Exposure to manufacturing costing environments and complex inventory structures.

Key Competencies

• Strong knowledge of financial principles, accounting processes and reporting requirements, including IFRS, tax regulations and applicable legislation.
• Good understanding of manufacturing business processes and cost accounting methodologies.
• Advanced Microsoft Excel and Microsoft Office proficiency.
• Strong analytical capability with the ability to identify trends, variances and operational improvement opportunities.
• Excellent reconciliation and financial control skills.
• Effective problem-solving ability with a solutions-oriented mindset.
• Strong attention to detail and commitment to accuracy.
• Excellent written and verbal communication skills.
• Sound interpersonal and stakeholder engagement abilities.
• Ability to influence, negotiate and collaborate effectively across multiple functions.
• High levels of integrity, reliability and accountability.
• Self-motivated, organised and able to manage competing priorities.
• Quick learner with a proactive and responsive approach.
• Strong achievement orientation, resilience and determination to deliver results.
• Ability to manage conflict constructively and maintain positive working relationships.