Durban: Cost Accountant

A well known company in the manufacturing industry is looking for a Cost Accountant to be based in Durban. Job Purpose: To Implement and Manage cost accounting systems to support the companies cost optimization and financial decision-making processes. 1. KEY PERFORMANCE AREA Cost Accounting System Improvement. Establish and allocate indirect material usage to BOM. Maintain and allocate standard labor cost rates to work centers. Establish and allocate set up time to BOM work centers. Review and update product run times. Establish and update scrap percentage for all sub-assemblies Cost Accounting & Analysis Maintain and update standard cost systems and ensure correct allocation of overheads. Conduct regular product costings , variance analysis and margin analysis and feedback to Commercial on under recoveries. Update machine rates in Syspro and report on Actual vs Recovery. Generate PPV reports and clear variances on a weekly basis. Analysis and clear Tooling and Maintenance Job variances. Close of Tooling and Maintenance jobs. Daily review of WIP accounts. Monthly presentation on slow-moving and obsolete stock. Manage Bills of Material (BOM) Reconciliation of actual material cost against standard. Collaborate with operations to track production costs and identify savings opportunities. Budget & Forecasting and Management Reporting Assist in preparation of annual budgets and periodic forecasts. Distribute weekly departmental budget spend reports. Update weekly operations budget performance charts and present on variances and proposed action plans. Report on Tooling project budget variances. Load monthly requisition budgets in Syspro. Prepare departmental profit reports and report on variance between actual and customer recovery rate. Inventory valuation and control Calculate inventory valuation in accordance with IAS2. Process daily cycle count adjustments. Create new stock codes in Syspro. Investigate high cycle count variances with Logistics team. Perform weekly / monthly Bom cost implosion. Participate in stock audits and physical inventory checks. Financial Accounting Support audit queries related to inventory and cost of sales. Assist Financial Manager with ad hoc projects. Budgets Ensure an understanding of the departmental budget, as may be applicable, and ensure a practice of cost control. Reporting Ensure accurate and timely reporting as may apply to the respective KPAs for the position. Job Requirements Specifications Degree in Finance / Cost Accounting CIMA is an advantage 7 years experience in a manufacturing environment. Computer Literacy Microsoft excel. Syspro. Microsoft (Word, PowerPoint, Email) Knowledge IAS 2 Inventory Cost Accounting principles, standards and methodologies. Strong financial analysis skills. Production process understanding. Behavioral Traits ( e.g., Interpersonal, attention to detail, etc. ). Time management Able to communicate with groups Good writing skills Assertiveness Listening skills Problem-solving Meeting skills Detail orientated Personal Attributes Approachable Good listener Calm in difficult situations Being comfortable with being firm POPIA Statement Please note that when applying for any position, reference checks will be completed and personal information as defined in the Protection of Personal Information Act 4 of 2013 will be processed. In applying for this position, applicants will be deemed to have consented to such processing as defined in the included Privacy Statement. Please also note that if you have not been contacted within 1 month after the closing date of this advertisement, please accept that your application has been unsuccessful .