Key Responsibilities:
Cost Management & Analysis:
- Oversee the cost accounting function, ensuring accurate tracking and reporting of production costs, including direct labour, raw materials, packaging and overhead.
- Analyze and report on cost variances, identifying the causes and suggesting corrective actions to management.
- Monitor and review cost allocations to ensure compliance with budgeting standards and internal control procedures.
- Investigate low GP sales orders, labour and overhead recoveries review
- Update and maintain standard costing models for inventory, labour, and overhead costs.
Financial Reporting:
- Prepare and present monthly, quarterly, and annual cost reports to senior management, highlighting key trends and insights on cost behaviour and profitability.
- Collaborate with the finance team to support the preparation of budgets, forecasts, and strategic financial planning.
- Ensure accurate accounting and reporting of inventory, including stock reconciliation and valuation.
Process Improvement & Efficiency:
- Identify cost-saving opportunities and highlight cost drivers.
- Recommend ways of reducing scrap rates and assist with monthly stock takes.
- Work closely with operational teams to provide financial insights aimed at improving production efficiency and minimizing waste.
Team Leadership & Collaboration:
- Collaborate with other departments, including operations, procurement, and sales, to improve cost visibility and reporting accuracy.
Compliance & Audit:
- Assist in the preparation for internal and external audits, ensuring adherence to regulatory standards and company policies.
- Ensure that all cost accounting practices comply with relevant accounting standards and company procedures.