Cost Accountant at Twiga Foods

Role Summary

• Reporting to the Chief Accountant, the Cost Accountant is responsible for analyzing, assigning or allocating costs related to trading goods, in a manner that facilitates accurate and timely profitability reporting and inventory valuation.
• The Cost Accountant is responsible for the accuracy of the Cost of Goods Sold (COGS), Gross Profit (GP) and Inventory valuation reported. S/he is also responsible for reporting on other supply chain costs directly attributable to the final COGS and highlighting costs and inventory management inefficiencies.

Key Responsibilities
Cost Accounting

• Objectively determines the cost bases and drivers to determine activity-based costings (ABC) for specific services or products.
• Develops and implements an efficient Standard costing system of accounting for costs and on a regular basis assesses the variance between the standard (efficient) cost and actual costs, presenting actional insights and recommendations.
• Confirms all inventory related cost and gains (Rebates, trade discounts, credit notes, surcharges etc.) are accounted for in the product costing and inventory valuation.

Margin Health, Profitability and Variance Reporting

• Develop and implement a system of daily mass/gross checks on revenues and cost of goods sold (COGS) for assurance purposes and flagging inconsistencies vs raw daily expected gross profit (GP).
• Report the quantum, percentage and health of the Gross Margin (GP) with an in-depth analysis of revenue and volume mix across categories, products and SKUs with insights on variances between target GP and realized GP.
• Analyse profitability by segment (by channel, geography, profit center etc.).
• Identify, follow-up, report and escalate mis-priced products or items being sold at sub-optimal selling price and make recommendations.

Inventory Valuation & Value Preservation

• Accurately value and reconcile inventory considering all input costs associated with the inventory (variable and fixed).
• Identify, compute, and call out unaccounted / abnormal inventory losses in the warehouse, transport, depot and commercial sub-processes, collate possible causes and present actionable insights and recommendations.
• Report abnormal inventory waste levels vs threshold and initiate discussions around a targeted solution.
• Report monthly closing inventory values to the insurance provider and initiate insurance compensation for insurable losses.
• Confirm adherence to company inventory policy at all inventory holding locations.

Cost Control

• Report on cost governance around all other direct cost efficiencies including electricity efficiencies, generator fuel, Ethelyn gas efficiencies, warehousing and labour (casuals) costs, etc.
• Track and collate all costs within the logistics, dispatch and last mile sub-processes that impact on the Cost of Goods Sold (COGS) such as transport costs, dispatch costs, returns etc. and reporting on efficiency variances.

Systems and Processes Management

• Undertake continuous reconciliation between underlying reports from systems outside the ERP with the accounting numbers as per ERP in particular Gross profit and Inventory valuation.
• Lead improvements of inventory and facilities related modules within the accounting system and reporting on discrepancies between the main ERP and other integrated systems such as WMS/DMS.

Reporting

• Participate in assigned month end close activities as per month end close checklist within set deadlines.
• Present comprehensive, accurate and informative reports with trends, insights, concerns, and recommendations clearly elaborated.

Other

• On a weekly/monthly basis, participating in the physical stock taking exercise for trading gods in conjunction with the wider accounting team.
• Participate in regular Fixed Asset verification and tagging exercise in the location(s) in conjunction with the wider accounting team.
• On a quarterly basis, participating in the business wide crate/pallet physical verification exercise and recommending write-offs losses

Self-management

• Model Twiga’s culture and way of working.
• Proactively manage own performance and deliver performance objectives and outcomes set.
• Attend monthly 1-on-1 performance enablement discussions and quarterly performance reviews with the line manager, and institute corrective action where performance falls below expectation.
• Proactively manage own learning and development.
• Adhere to the annual leave plan agreed with the line manager.
• Adhere to people management policies.

Compliance

• Comply with all organization policies, procedures, and statutory guidelines. Minimize and mitigate risks to the organization and enforce zero-tolerance to non-compliance.
• Close gaps/lapses identified as an outcome of audits; risk and/or any other compliance review; investigations; or other assessment mechanisms and take corrective/preventive actions within the agreed timelines.

Academic and Professional Qualifications

• A bachelor’s degree from a recognized accredited university preferably in accounting, economics, commerce, or a related field.
• Qualified Accountant (CPA-2) or ACCA equivalent.

Relevant Skills & Experience

• Three (3) to five (5) years’ accounting experience gained in a busy operational environment, with considerable exposure to inventory & cost accounting experience, working with an ERP/substantial accounting software.
• Good knowledge of credit management standards (IFRS), policies and regulations and financial accounting statements
• Self-starter with advanced analytical, critical thinking, and problem-solving skills.  Good organizational skills, able to prioritize and delivery objectives set within timelines given.
• Strong consultative and influencing skills with the ability to build strong working relationships across all levels and bring together stakeholders.
• Strong interpersonal, communication and presentation skills with the ability to communicate information, whether technical or non-technical to staff members and customers, in a clear and concise manner.
• Strong proficiency in Microsoft Word, Excel, PowerPoint
• Results-oriented, flexible and adaptable to rapid change, with the comfort working in a fast-paced, high demand environment.
• Enthusiastic, decisive, pragmatic, resilient and forthright individual with a sense of urgency, and unquestionable integrity.
• Willing and able to travel.