Cost and Management Accountant (Manufacturing & Production)

Are you a numbers-driven Cost and Management Accountant who enjoys turning financial data into meaningful business insights? Our client is looking for an analytical and commercially minded professional with strong manufacturing costing and stock analysis experience to help drive cost efficiencies, improve inventory performance and support strategic decision-making. If you have a keen eye for detail and a passion for uncovering opportunities to improve profitability, this could be the perfect next step in your career!

1. Cost Accounting and Manufacturing Cost Control

• Analyse and monitor manufacturing costs, including direct materials, direct labour and production overheads.
• Prepare, maintain and review product costing, standard costing and bill of materials (BOM) costings.
• Analyse actual production costs against standard costs and budgets, investigating variances and recommending corrective action.
• Monitor material usage, labour efficiency, production yields, scrap, wastage and production losses.
• Review overhead absorption rates and ensure accurate allocation of manufacturing costs.
• Analyse product profitability and gross profit margins, identifying cost pressures and opportunities for improvement.
• Identify cost-saving initiatives and work with operational teams to improve manufacturing efficiency.
• Ensure the accuracy and integrity of costing information within the ERP system.

2. Stock Analysis and Inventory Management

• Conduct detailed stock analysis to monitor inventory levels, movements, valuation and overall performance.
• Analyse stock holding values and trends across raw materials, work-in-progress and finished goods.
• Monitor stock ageing and identify slow-moving, non-moving, obsolete and excess inventory.
• Analyse inventory turnover ratios and days inventory on hand to identify opportunities to improve working capital.
• Monitor stock levels against production requirements, sales forecasts and purchasing plans.
• Analyse stock movements, including receipts, issues, transfers, consumption and adjustments.
• Investigate stock variances between physical counts and system records, identify root causes and recommend corrective action.
• Reconcile inventory records to the general ledger and investigate discrepancies.
• Analyse actual material consumption against standard usage and production output, identifying excessive consumption, wastage and potential losses.
• Review inventory valuation and assess the financial impact of obsolete stock, write-offs and provisions.
• Identify excess stock and potential shortages, working with procurement, production, warehouse and sales teams to improve stock availability and reduce unnecessary inventory.
• Monitor and support cycle counts and annual stock counts, ensuring that discrepancies are properly investigated and resolved.
• Prepare monthly stock analysis reports for management, highlighting significant movements, risks, variances and recommended actions.
• Develop and monitor stock-related KPIs, including inventory turnover, stock accuracy, stock ageing, obsolete stock and total inventory value.

3. Management Reporting and Financial Analysis

• Prepare monthly management accounts and financial performance reports.
• Analyse revenue, gross profit margins, product profitability and departmental performance.
• Prepare monthly financial analysis for management and executive review.
• Investigate actual results against budget, forecast and prior periods, providing clear explanations for material variances.
• Analyse key financial and operational performance indicators and identify emerging risks.
• Provide financial insights and recommendations to support business planning and decision-making.
• Assist with financial modelling, profitability assessments and business case evaluations.
• Ensure that financial reports are accurate, complete and submitted within reporting deadlines.

4. Budgeting and Forecasting

• Assist with the preparation and coordination of annual budgets and periodic forecasts.
• Prepare cost budgets covering materials, labour, manufacturing overheads and other operating expenses.
• Monitor actual expenditure and performance against approved budgets.
• Analyse cost trends and forecast the financial impact of changes in production volumes, material prices and operating costs.
• Work with departmental managers to identify budget risks, cost pressures and improvement opportunities.
• Assist with financial planning and cash flow forecasting where required.

5. Internal Controls, Reconciliations and Audit Support

• Maintain effective controls over costing, inventory and financial reporting processes.
• Ensure accurate inventory accounting and appropriate supporting documentation.
• Prepare and review reconciliations relating to inventory, cost of sales and manufacturing accounts.
• Assist with internal and external audits by preparing supporting schedules, reconciliations and documentation.
• Ensure compliance with company policies, financial procedures and applicable accounting standards.
• Identify weaknesses in existing processes and recommend improvements to strengthen financial controls and reporting accuracy.

6. Business Partnering and Operational Support

• Work closely with production, procurement, warehouse, engineering and sales teams to improve cost and operational performance.
• Provide financial analysis and guidance to non-financial managers.
• Challenge cost assumptions, investigate inefficiencies and identify opportunities to improve profitability.
• Translate financial information into practical recommendations for operational improvement.
• Support continuous improvement initiatives aimed at reducing costs, improving stock management and optimising working capital.

Minimum Requirements

• BCom degree in Management Accounting, Cost Accounting, Financial Accounting or an equivalent relevant qualification.
• Approximately 3–5 years' relevant experience in cost and management accounting, preferably in a manufacturing environment.
• Strong knowledge of manufacturing costing, product costing and inventory accounting.
• Demonstrated experience in stock analysis, inventory reconciliations and stock variance investigations.
• Experience analysing slow-moving, non-moving and obsolete stock, as well as inventory turnover and stock ageing.
• Understanding of standard costing, bill of materials, material consumption and manufacturing overheads.
• Experience in budgeting, forecasting, management reporting and financial variance analysis.
• Advanced Microsoft Excel skills, including the ability to analyse large datasets and prepare meaningful reports.
• Experience working with an ERP system and financial reporting tools.
• Strong numerical, analytical and problem-solving skills.
• Excellent attention to detail and the ability to meet strict reporting deadlines.

A CIMA qualification or progress towards CIMA, SAICA or SAIPA professional accreditation would be advantageous.

Key Competencies

• Strong analytical and commercial acumen.
• Excellent understanding of manufacturing cost structures and stock management.
• Ability to interpret financial and operational data and identify trends.
• Strong reconciliation and investigative skills.
• Proactive approach to identifying cost-saving and working capital improvement opportunities.
• Ability to communicate financial findings clearly to management and operational teams.
• High levels of accuracy, integrity and accountability.
• Strong organisational and time-management skills.
• Ability to work independently and collaborate effectively across departments.

Key Performance Indicators

The successful candidate's performance will be measured against the following areas:

• Accuracy and timeliness of monthly management accounts and cost reports.
• Accuracy of product costing and manufacturing cost allocations.
• Effectiveness of stock analysis and inventory reporting.
• Identification and reduction of unexplained stock variances.
• Monitoring and reporting of slow-moving, non-moving and obsolete inventory.
• Improvement in inventory turnover and working capital utilisation.
• Accuracy of budgets, forecasts and cost variance analysis.
• Identification of manufacturing cost-saving opportunities.
• Compliance with financial controls and inventory procedures.

Market Related

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