Product Cost Accountant (1 Year Contract)

Job description

Position: Product Cost Accountant

Location: Kenya
Terms: 1 Year Fixed Term Contract

Main Job Purpose

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Responsible for ensuring reliability and accuracy of all Product Cost Estimates for Raw/Packaging materials and Finished Goods

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Proactively identify all costs, issues and risk involving stocks and inform on its impact on business results.

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Reconciliation of all critical financial control accounts related to this area of responsibility.

Job Summary
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Ensuring BOMS are correct and current in the system, all the components in the BOM are active and have current prices, and the production versions are updated accordingly

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Coordinate the calculation of landed costs (PCEs) for bought ins and provide these costs to the SA Costing team for release in the system.

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Coordinate the calculation of transfer prices by the SA Costing team for packs exported from Kenya for the quarterly TPs; calculate TPs for packs and/or materials exported from Kenya on a need basis during the quarter. Analyse material usage variances (MUVs) for all manufacturing plants, sharing reports thereof and organising weekly meetings with stakeholders in order to obtain explanations and corrective actions. In addition, ensure that monthly reports on these variances are published per laid down processes.

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Analyse consumption purchasing price variances (PPVs) by running the PPV reports every month in SAP, investigating the causes of the variances, and correcting any areas that need corrections.

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Monitor stock values analyse differences between standard and weighted average cost of stock and ensure reconciliation or correction and per policy.

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Work closely with the Procurement team to ensure that the prices they provide for RM, PM and 3rd Party materials have taken all factors affecting prices into consideration.

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During month end, ensure that there aren't any surprise postings to the materials account- any postings done can be explained.

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Analyse the closing position on material costs by using moving averages and monthly PPVs.

· Raising necessary journals during month end.
· Running ML where this task is not automated.
· Performing PCA Close during month end.
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Analysing gross margins and sharing detailed explanations of variances versus forecast.

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Ensuring all GFCF controls within product cost are reviewed and signed off quarterly.


Key Requirements

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At least 1-3 years' experience in Management Accounting in FMCG or similar industry

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Management/Financial Accounting experience in an FMCG business.

· Experience in a multinational company will be ideal.
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Strong knowledge and practical experience in the application of Microsoft Excel, PowerPoint and Word tools.

· Decision Support and Analytical Skills
· Performance Monitoring and Management of Business Planning Processes
· Good knowledge/hands on of an ERP system- SAP.
· Accounting graduate & Chartered Accountant.