Position: Management
Accountant
Grade: Three
Reports To: Finance Manager
Supervision:
Grade: Three
Reports To: Finance Manager
Supervision:
Main External Contacts:
- Banks
- Auditors
- Suppliers
Main Internal Contacts:
- Finance Manager
- Heads of
Departments
Broad Function: The Management Accountant (MA) monitors and advises management
on the performance of the company in terms of costs and profitability and
preparation of management accounts and reports. The MA is also in-charge
of Fixed Assets.
Primary Duties / Responsibilities
Primary Duties / Responsibilities
- Prepare timely
and accurate financial budgets and forecasts by consolidating individual
departmental budgets.
- Consolidate
cost and revenues and extract management information for decision making.
- Analyze the
business' financial and general operating information to identify trends
and opportunities for development
- Analyze budget and
other financial variances (such as product margins) and advise Group
Finance Manager accordingly.
- Provide
financial information to senior management, including budget reports and
performance of Cost Centres.
- Review
investment proposals to determine their viability
- Assess the
impact of changes in pricing, sales volume and costs that affect
profitability on monthly basis.
- Evaluate
non-financial indicators, such as stock turnover, quick ratio, debtor’s
ratios, cash ratios, profitability ratios, etc and report on their effect
on businesses performance or profitability.
- Oversee the
stock take exercise (including spares) and ensure accurate stock records
(length and weight) at all times. Investigate and promptly report on any
variance
- Issue monthly
and yearly stock take instructions.
- Maintenance of
the Fixed Assets register and ensuring that the fixed assets file is up to
date with relevant and accurate supporting documentation according to laid
down procedure. Ensure that Fixed Assets register tallies with general
ledger balances at all times. Ensure that Fixed Assets are counted
once every year and reconciled with Fixed Assets register.
- Ensure that all
costing (including Raw Materials, WIP, Finished goods, spares and Drum
production) are done and captured accurately. Ensure accuracy of
monthly weighted average costs.
- Conduct
financial analysis as required.
- Monitor
performance of cost centres and advise the Group Finance Manager
accordingly.
- Assist the
Group Finance Manager in maintaining desired working capital levels
- Participate in
planning and supervising systems used to record income, spending and cash
flows
- Prepare
forecasts and projected future cash flows for the business
- Monitor costs
such as scrap, wages, overtime, materials, equipment maintenance, marketing
and all other costs.
- Identify areas
of the business where inefficiencies may occur and advise the Group
Finance Manager accordingly.
- Prepare monthly
management reports within the set deadline.
- Ensure proper
computation of VAT, IDF and any duty on imported raw materials, spares,
finished goods among other imports.
- Analyze and
ensure accuracy of Sales, Cost of Sales, Cost of Production, Cost of
Finished Goods, Cost of Scrap and other Costs of Sales components and
report any significant finding to Group Finance Manager. Any abnormal
deviations from norm must be reported to the Group Finance Manager.
- Authorize goods
returned notes in accordance with laid down procedure before credit notes
are issued to confirm validity and reasons of return.
- Raise capital
expenditure forms for approval to acquire fixed assets as per
procedure.
- Authorize
requisitions and Local Purchase Orders in the absence of Group Finance
Manager.
- Train and
propose training programs for all staff under your supervision and ensure
they are well skilled to provide high level services to the Company.
- Review monthly
and ensure adequate insurance covers for all stocks (including goods in
transit), public product liability, fire and perils, con loss (fire &
perils), all risks, all fixed assets and Plant breakdown compensation
covers. Consult with the insurance brokers to ensure that the
policies are adequate and sufficient. Report to the Group Finance Manager
on any short fall or omissions immediately. Ensure all assets in the
register are adequately insured.
- Initiate
letters of credit, TT payments and negotiate competitive forex rates and
payment commissions with banks on all stocks and fixed assets related
payments.
- Evaluate and
advice on the Company’s Break-even scenarios on monthly basis.
- Monitor sales
performance in terms of value, margins, length (Km) and volume (Kgs) of
fast moving products on a monthly and cumulative basis, compare with prior
year, budget and report on variance. Compute and advise management
of which copper products account for 70% of the product category turnover
at any given period. This should also be done for gross copper
turnover.
- Conduct or
course a staff to conduct surprise checks on loaded delivery vehicles to
ensure that physical goods tally with sales documentation. This
should be done at least once a week.
- Ensure that
processes needed for the Quality Management System (ISO 9001:2000) are
established, implemented and maintained.
- Ensure that
control procedures set are strictly adhered to at all times. Report
any deviation to the Group Finance Manager immediately.
- Review set
control procedures for continued suitability and recommend any changes to
the Group Finance Manager.
- The above
duties are just a guide and not exhaustive. You are required to oversee
all the companies’ management and cost accounts operations and ensure
integrity of records and reporting and that controls within thin
this area of the company are not compromised. Innovation is also key to
your job.
- Any other duty
that may be assigned from time to time by the Group Finance Manager.
Person Specifications
Education / Qualifications: A bachelor’s degree in a business related field
Professional Qualifications: CPA (K) or ACCA qualifications
Experience: At least five years experience two of which should be at supervisory level
Skills
Education / Qualifications: A bachelor’s degree in a business related field
Professional Qualifications: CPA (K) or ACCA qualifications
Experience: At least five years experience two of which should be at supervisory level
Skills
- Ability to
exercise sound judgment
- Strong
financial analysis skills
- Knowledge of
computerized accounting systems and
- Applications
such as MS Office Excel and Word
- Ability to work
under pressure and to meet deadline
- Honest and
possessing a high level of integrity
Only shortlisted candidates will be contacted