Position Title: Cost Accountant
Employer: Pharo Foundation
Employment: Full-Time | Permanent
Place of Work: Debre Birhan - Ethiopia
Posted date: 5 months ago
Deadline: Submission date is over
Qualifications & Requirements
- BA degree in Accounting, Finance, or related field (Master’s is an advantage).
- 3–6 years of proven experience in cost accounting in a manufacturing environment.
- Experience in edible oil or FMCG industries preferred.
- Strong knowledge of standard costing, variance analysis, and inventory valuation.
- Proficiency in accounting software/ERP systems (Microsoft Business Central and advanced Excel skills.
- Familiarity with Ethiopian tax laws and IFRS standards.
- Excellent analytical, problem-solving, and communication skills.
- Ability to work under pressure and meet deadlines.
- High level of integrity and attention to detail.
About us
Pharo Foundation (“the Foundation”) is a mission-driven, impact-oriented organization that designs, funds, and operates economic development programmes towards a vibrant, productive, and self-reliant Africa. Over the next decade, our goal is to create maximum impact towards three critical missions:
- Education: ensure that all students have an opportunity to access a high-quality and affordable education and become productive citizens in a rapidly changing world.
- Water: ensure that people and communi4es across Africa have access to a safe and affordable source of water.
- Productivity: eliminate health, financial, and structural barriers to employment and productivity for working people.
The Foundation also operates Pharo Ventures which is the for-profit arm of its operations with sustainable businesses in Ethiopia and Somaliland geared towards job creation and economic empowerment. With over 700 employees in Ethiopia, Kenya, Rwanda, and Somaliland, we are a diverse, multicultural, and passionate organization. We have our headquarters in Nairobi, Kenya, and a liaison office in London, UK, which is home to our parent organization, Pharo Management.
Role Summary
The Cost Accountant will play a key role in tracking, recording, analyzing, and controlling production costs, ensuring accurate reporting, and supporting management decision-making. The role requires strong analytical skills, attention to detail, and the ability to work closely with production, procurement, and management teams to drive cost efficiency and profitability.
Key Responsibilities
Cost Accounting, Recording & Reporting
- Maintain detailed cost records for raw materials, labour, utilities, and overheads.
- Develop cost sheets for production lines and ensure accurate allocation of costs.
- Prepare monthly cost of goods manufactured (COGM) and cost of goods sold (COGS) reports.
- Record transactions on company ERP system
Standard Costing & Variance Analysis
- Establish standard costs and conduct regular variance analysis (material, labour, overheads).
- Support management with insights into production efficiency
Budgeting & Forecasting
- Assist in preparation of annual and quarterly budgets.
- Prepare rolling cost forecasts and budget-to-actual variance reports.
- Support scenario analysis on raw material and production cost changes.
Inventory & Stock Management
- Monitor and reconcile raw material and finished goods inventory.
- Supervise physical stock counts and report variances.
- ·Ensure proper valuation of stock in line with company policy.
Cost Control & Reduction
- Identify areas of inefficiency and recommend cost-saving measures.
- Track utility and maintenance costs per unit of production.
- Work with procurement to minimize material costs, wastage smooth production process.
Pricing & Product Costing
- Calculate unit production costs for different products and packaging.
- Provide accurate cost data for pricing decisions and tenders.
- Analyze profitability by product line and recommend adjustments.
Compliance & Internal Auditing
- Ensure compliance with IFRS, Ethiopian tax laws, and company policies.
- Support internal and external audits with cost-related reports.
- Maintain a strong internal control system for cost accounting.
Reporting & Collaboration
- Prepare periodic cost reports for management.
- Work with production, quality, procurement, and HR teams to capture accurate cost data.
- Present cost analysis for management decisions and strategic planning.
