Cost Accountant

6 days ago

Nairobi, Nairobi Area, Kenya Orchid HR Full time
Contract: Short-Term
Location: Nairobi

1. Cost Analysis and Reporting:

• Analyze the cost structure of construction materials, including procurement, storage, and distribution expenses.

• Evaluate direct and indirect costs associated with multi-location store operations.

• Prepare detailed cost reports and identify key areas of inefficiency or overspending.

• Perform variance analysis to compare actual costs against budgets or standards.
2. Inventory and Pricing Management:

• Assess inventory valuation methods (e.g., FIFO, LIFO, Weighted Average) to ensure accuracy.

• Conduct an inventory cost audit across all store locations to identify discrepancies or shrinkage.

• Develop and recommend pricing strategies to optimize profit margins while staying competitive.
3. Budgeting and Forecasting:

• Collaborate with finance and operations teams to review current budgets and forecasts.

• Develop a cost-focused budget plan for materials, labor, and overheads.

• Provide financial modelling to predict future costs based on trends and operational changes.
4. Cost Control and Optimization:

• Identify cost-saving opportunities in procurement, logistics, and operations.

• Recommend strategies for reducing wastage, transportation costs, and storage inefficiencies.

• Design and implement cost control measures to monitor and manage expenses effectively.
5. Process Improvement:

• Review existing financial and operational processes to identify bottlenecks and inefficiencies.

• Propose process improvements to streamline cost accounting procedures.

• Standardize cost tracking and reporting methods across all store locations.
6. Compliance and Documentation:

• Ensure compliance with tax and financial regulations specific to the construction materials industry.

• Maintain accurate documentation of cost analysis findings and recommendations.

• Support preparation for financial audits by organizing cost-related data.
7. Stakeholder Engagement:

• Work closely with the finance team, procurement team, and store managers to gather necessary data and insights.

• Present findings and actionable recommendations to senior management

• Provide training and knowledge transfer to internal finance staff on cost accounting techniques and tools.
8. Project Reporting:

• Deliver periodic progress reports to management on the status of the cost analysis and optimization efforts.

• Submit a comprehensive final report at the end of the engagement, summarizing key findings, recommendations, and implementation steps.
9. Key Deliverables:

• Comprehensive cost analysis report.

• Recommendations for cost optimization and pricing strategies.

• Improved processes for inventory valuation and cost control.

• Training sessions or documentation for internal teams to sustain improvements.
10. Technical Skills:

• Proficiency in accounting software (e.g., Quick Books, SAP, or Oracle).

• Advanced knowledge of Microsoft Excel for financial modeling, cost analysis, and reporting.

• Strong understanding of inventory management, cost control, and pricing strategies.

• Knowledge of tax and regulatory compliance related to the construction materials industry is a plus.
11. Education and Certification:

• Bachelor's degree in Accounting, Finance, or a related field.

• Professional accounting certification (e.g., CPA, ACCA, or CMA) is highly preferred.
12. Experience:

• Minimum of 5 years of experience in cost accounting, preferably in the construction materials or retail distribution industry.

• Proven track record in conducting cost analyses, budgeting, and financial modelling for inventory-heavy businesses.

• Familiarity with multi-location store operations and cost structures.

• Familiarity with the pricing dynamics, supply chain, and operational challenges in the construction materials sector.

• Understanding of retail store operations, including cost allocation and profit margin analysis.

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