Cost Accountant

Job Summary

This position requires an experienced and competent candidate with excellent organizational and analytical skills, expected to be detailed oriented, knowledgeable on statistics, have strong problem-solving skills, work comfortably under pressure, and deliver on tight deadlines.

• Minimum Qualification:     Bachelor
• Experience Level:               Senior level
• Experience Length:             6 years

Job Description/Requirements

Title: Cost Accountant

Department: Finance 

Reports to Finance Manager 

Reporting line: National 

 

Job Summary:

This position requires an experienced and competent candidate with excellent organizational and analytical skills, expected to be detailed oriented, knowledgeable on statistics, have strong problem-solving skills, work comfortably under pressure, and deliver on tight deadlines. 

In addition, should be confident, professional, and meticulous with a keen interest in the cost-efficient operations of the organization as well as have outstanding presentation and report-writing skills, with the ability to work on their own initiative and as part of a team. 

 

SCOPE OF WORK:  

Under the supervision of the Finance Manager, the Cost Accountant is responsible for ensuring that the costing unit of the company is managed to the highest standards of business and compliance. The Cost Accountant makes an essential contribution to the success of Accounts office by carrying out the day-to-day financial costing transactions; aiming to work and inform the pricing and profit margins of the business. She then bares the ultimate responsibility, for ensuring that costs are constantly managed according to best practice, and in compliance with company accounting policies and laws of the Republic of Uganda. In addition, she shall serve as the cashier, manage reception and offer customer care to walk in customers as well as attend to calls both internally and externally. 

 

KEY ROLES AND RESPONSIBILITIES  

In general, the duties of the Position to be filled by the Cost accountant employee shall encompass the following: 

 

Office Organization 

• Develop and maintain the cost accounting system, documents, and records of the organization. 
• Create and maintain proper files for both soft and hard copies, especially for imports 
• Receive and file all documents relating to all imported and local raw materials and re-cost, especially imports. 
• Manage the archive of financial records, ensuring that documentation can be easily retrieved as required. 

 

Make timely and accurate cost assessments according to the Finance and Accounting policies and procedures, including but not limited to:  

• Receive customer order inquiries and liaise with the Production Manager or any designated technical staff to assess the requirements necessary for any particular product.     
• Analyse the data collected and log a detailed record of the results 
• Analyse any changes in goods or services provided in order to determine what effect it has on the cost. 
• Analyse and recommend costs and cost savings 
• Use the latest updated material/ service cost list and derive the cost price of the material using the appropriate cost method.  
• Communicate the cost price to the Marketing Manager who shall advise of profit margin percentage to apply. 
• Issue quotation to customer and pursue Local Purchase Order (LPO) 
• On receipt of LPO, issue green map for production to commence. 
• Analyse manufacturing costs and prepare regular reports comparing standard costs to actual production costs for every finished product.
• Conduct physical inventories and monitor the cycle count program 
• Prepare and complete internal cost audits by way of variance analysis between the actual cost and earlier estimated cost per production then issue report. 
• Provide management with reports that specify and compare factors that affect prices and profitability of products.
• Reconcile beginning raw materials, Work in Progress, and finished goods 

 

Manage petty cash to ensure procedures are followed and staff needs to be met as quickly as possible, including but not limited to:  

• Receive expenditure requisition forms and check to ensure that appropriate authorizations have been obtained and procedures followed.  
• Issue petty cash and enter the transaction onto the financial information system  
• Generate petty cash vouchers and ensure they are signed by the recipient  

 

In the case of cash advances: 

• Ensure cash acknowledgment receipt is signed and enter the transaction onto the financial information system  
• Upon receiving the balance and receipt(s) from recipients of advances, enter the payment with the appropriate code and close the account  
• Follow up with staff in the case of non-production of receipts, making salary deductions if authorized by the accountant. 
• Fill and complete vouchers by collecting and attaching all supporting documents before presenting them for final approval and filing. 
• Advise the accountant to replenish petty cash as necessary, according to accounting procedures  
• Education / Qualifications / Training required:  
• Essential: Bachelor’s degree in Accountancy or related field 
• Desirable: Certified member CPA/ACCA/CCA 

 

Previous work experience required:  

• Essential: Minimum of 5+ years of working experience in a busy environment preferably manufacturing and production of FMCGs
• Essential: Computer literacy especially SAP, QuickBooks, and Microsoft Excel  
• Desirable: Having worked within a manufacturing setting   Technical knowledge or skills:  

How to apply.

All applications will be received and Reviewed by Clicking on the 'Apply Now ' section

DEADLINE 15-10-2022