Cost and Management Accountant

SUMMARY:
Job Description and Overview: The duties of a Cost and Management Accountant will include monitoring spending, performing cost analyses, analysing financial data, and offering management advice on how to make decisions. To guarantee accurate financial reporting and the implementation of cost control measures, you will collaborate closely with multiple departments.

POSITION INFO:
Key Responsibilities:

Cost Analysis: Conduct detailed cost analysis of projects to identify areas for cost reduction and efficiency improvement. Analyse production/Service costs, overhead expenses, and operational expenditures to optimize resource utilization. Develop and implement cost accounting methodologies to accurately track expenses and identify cost drivers.

Budgeting and Forecasting: Assist the CFO in the preparation of annual budgets and forecasts by providing valuable insights into cost trends and expenditure patterns. Monitor budget performance and variance analysis, identifying areas of concern and recommending corrective actions. Prepare monthly, quarterly, and annual financial reports, including profit and loss statements, balance sheets, and cash flow statements. Ensure accuracy and compliance with accounting standards.

Financial Reporting: Prepare timely and accurate financial reports, including cost reports, variance analysis reports, and profitability analysis reports. Present financial information to management and stakeholders in a clear and concise manner, highlighting key findings and recommendations.

Process Improvement: Continuously review and streamline accounting processes to improve efficiency and accuracy. Collaborate with cross-functional teams to identify opportunities for process improvement and cost savings initiatives.

Cross-functional Collaboration: Collaborate with other departments, such as operations, sales, and procurement, to gather relevant financial data and insights. Work closely with stakeholders to align financial goals with overall business objectives.

Compliance and Risk Management: Ensure compliance with accounting standards such as IFRS (International Financial Reporting Standards), local regulations, regulatory requirements, and internal policies and procedures. Identify and mitigate financial risks through effective internal controls and risk management practices.

Qualifications and Skills:

• Bachelor’s degree in Accounting, Finance, or related field.
• Professional certification such as CIMA (Chartered Institute of Management Accountants) or similar is preferred.
• Proven experience as a Cost and Management Accountant or similar role, preferably in a manufacturing or production environment.
• Strong analytical skills with the ability to interpret complex financial data and provide actionable insights.
• Proficiency in cost accounting principles, budgeting techniques, and financial modelling.
• Excellent communication and interpersonal skills, with the ability to collaborate effectively with cross-functional teams.
• Advanced proficiency in accounting software and Microsoft Excel.

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