Factory Accountant - Cashew Factory

Factory Accountant : Nigeria

T&C

Long term association - A bond of 5 years

Budget - USD 3000 + 350 for food & other expenses

Bachelor Status

After 12 months 30 days paid leave

Open Position - 03

Cashew Plant

Soya Plant

Sesame Plant

JD

1. Costing and Cost Analysis

• Analyse production costs including raw materials, labour, equipment usage, and overhead expenses.
• Conduct cost-benefit analyses to identify and recommend cost-saving opportunities.
• Develop and maintain standard costing for all sesame products and production processes.
• Monitor actual production costs and compare them to standard costs, investigating variances and providing detailed explanations.
• Develop, monitor, and analyze Cost of Production (COP) on a weekly and monthly basis.
• Identify cost leakages and recommend corrective and preventive actions in coordination with operations.

2. Inventory Management

• Oversee inventory valuation and ensure accurate stock reporting.
• Perform regular inventory reconciliations Raw materials, Work-in-progress (WIP), Finished goods, Production quantities and consumption and investigate discrepancies.
• Monitor stock movement and consumption to ensure appropriate costing and minimize losses.
• Prepare Inventory ageing, and identification of slow-moving and obsolete stock.
• Maintain tight controls over raw materials and finished goods inventory.
• Coordinate, supervise, and lead physical inventory counts, investigate variances, and ensure timely closure of discrepancies

3. Variance Analysis

• Analyse variances related to Yield, material usage, labour efficiency, and overhead absorption.
• Provide timely variance and performance reports to management with recommendations for corrective actions.
• Work closely with production, maintenance, procurement, and stores teams to address inefficiencies and drive corrective actions
• Track key operational and financial KPIs, linking production performance to financial outcomes.

4. Financial Control & Reporting

• Assume full ownership of the Plant P&L and Balance Sheet.
• Prepare accurate and timely cost reports, including cost of goods sold (COGS) and profitability reports
• Prepare and submit monthly management accounts accurately and within defined timelines to Head Office.
• Ensure the accuracy, completeness, and integrity of all plant-level financial data.
• Assist in planning future production costs based on historical trends and expected changes
• Support annual budgeting, forecasting, and periodic re-forecasting processes.
• Monitor actual performance against budgets and provide clear, actionable explanations for deviations.

5. Plant Accounting & Operations Support

• Partner with the Plant Head and departmental heads to align with operational targets.
• Translate financial data into actionable insights to support plant-level decision-making.
• Ensure proper accounting, monitoring, and control of:
• Capital expenditure (Capex)
• Repairs and maintenance
• Plant overheads
• Strengthen inter-departmental coordination across Production, Stores, Maintenance, and Logistics.

6. Process Improvement & Compliance

• Ensure strict adherence to internal control frameworks, SOPs, and company policies.
• Ensure compliance with local statutory requirements of the plant. Ensure accurate deduction, remittance, and reconciliation of PAYE, pension contributions, and other employee statutory deductions
• Ensure timely completion of local statutory filings, proactively escalating risks or delays to the head office finance.
• Strengthen internal controls to mitigate tax, regulatory, and compliance risks at the plant.
• Identify opportunities for process improvements to enhance efficiency, reduce waste, and control costs.
• Work closely with the production and finance teams to implement cost control initiatives.
• Guide, supervise, and develop the local plant finance and costing team.
• Ensure timely availability of reconciled, accurate, and complete data from all departments.