Sr. Cost Accountant

Job Summary

Your primary purpose is to manage and oversee the day-to-day financial accounting and cost control activities specific to our cement manufacturing operations. You are responsible for ensuring the accuracy of our financial records, analyzing production costs, managing inventory accounting, and providing critical financial data to support management in making informed operational and strategic decisions.

Responsibilities

Cost Accounting & Analysis:

• Manage the entire cost accounting system for the cement production process.
• Track and analyze the consumption and cost of raw materials (limestone, clay, gypsum, additives), packing materials, and grinding media.
• Monitor and report on clinker production costs and finished cement grinding costs.
• Calculate standard costs and perform detailed variance analysis (material usage, price, overhead) against actual costs, providing explanations
• Analyze fixed and variable overheads, ensuring their accurate allocation to cost centers and final products.
• Conduct product profitability analysis for different types of cement (e.g., OPC, PPC).

Inventory Management & Control:

• Take full responsibility for the accounting and valuation of all inventory categories: Raw Materials, Work-in-Progress (Clinker), and Finished Goods.
• Lead and supervise the monthly/quarterly physical stock counts in the store, stockyard, and silos. Reconcile physical counts to the general ledger and investigate discrepancies.
• Prepare and review inventory valuation reports, ensuring compliance with company accounting policies (Weighted Average).
• Analyze inventory aging, slow-moving, and obsolete items, and propose necessary provisions or write-offs.

Financial Reporting & Management Information:

• Prepare accurate and timely monthly, quarterly, and annual financial statements for the plant.
• Generate key management reports, including:
  • Daily/Weekly Raw Material Consumption Report
  • Monthly Production Cost Report
  • Plant Performance vs. Budget/KPI Reports
  • Cost of Production per Ton Report (for Clinker and Cement)
• Provide insightful commentary and analysis on financial and operational performance

Fixed Assets & Capital Expenditure (CAPEX):

• Maintain the fixed asset subsidiary ledger for the plant, ensuring all heavy machinery, kilns, mills, and vehicles are accurately recorded.
• Process capital expenditure requests, track project spending, and capitalize assets upon completion.
• Calculate and post monthly depreciation.
• Coordinate and participate in the periodic physical verification of fixed assets.

Internal Controls & Compliance:

• Ensure adherence to all company financial policies, procedures, and internal controls.
• Safeguard the company's assets through rigorous review and monitoring.
• Serve as the primary liaison for internal and external auditors during plant-specific audits, providing all required documentation and explanations.
• Ensure compliance with all relevant statutory requirements.

Operational & Cross-Functional Support:

• Work closely with Production, Procurement, and Maintenance departments to understand operational issues and their financial impact.
• Analyze energy (power, coal, diesel) consumption and costs, highlighting areas for efficiency improvements.
• Support the budgeting and forecasting process for the plant by providing accurate historical data and cost projections.
• Utilize the ERP system NAV 365 effectively for all financial transactions and reporting.

Authority

• To request operational and financial information from other departments necessary to perform accounting duties.
• To approve journal entries and reconciliations within designated limits.
• To halt processing of transactions that violate company policy and escalate to the Cost and Budget control Manager

Performance Metrics (KPIs)

• Timeliness and accuracy of monthly financial closings.
• Accuracy of inventory records and valuation.
• Reduction in cost variances and effectiveness of variance analysis.
• Quality and insight of management reports.
• Successful internal and external audit reports with minimal findings.
• Effectiveness in meeting reporting deadlines.

Qualifications & Competencies

• Knowledge: In-depth knowledge of cost accounting principles (Standard Costing) and IFRS/GAAP. Proficiency in ERP systems, especially NAV 365, is critical.
• Skills: Advanced analytical and problem-solving skills. Advanced proficiency in MS Excel. Strong communication and interpersonal skills.
• Attributes: High level of integrity, attention to detail, proactive, and a team player.
• BA Degree in Accounting and finance or related fields
• Proven 5+ years of experience in the sector