Job Purpose: The Cost Accountant will be responsible for monitoring, analyzing, and reporting on the cost and inventory activities of retail stores. This role ensures accurate valuation of stock, effective cost control, and timely reporting to support financial decision-making. The position requires close collaboration with store managers, finance teams, supply chain, and internal auditors.
Key Responsibilities:
Inventory & Stock Control
- Monitor stock levels and movements across all retail stores and warehouses.
- Ensure accurate recording of stock transfers, returns, and adjustments in the accounting system.
- Perform periodic stock reconciliations between physical counts and system records.
- Identify discrepancies, investigate causes, and recommend corrective actions.
- Support regular cycle counts and annual physical inventory audits.
Cost Accounting & Analysis
- Calculate and validate cost of goods sold (COGS) for retail operations.
- Monitor purchase prices, landed costs, and store-specific expenses.
- Track and analyze variances between standard costs, actual costs, and budgets.
- Provide cost analysis on promotions, discounts, and clearance sales.
- Recommend cost-saving opportunities and process improvements.
Reporting & Compliance
- Prepare regular inventory valuation reports for management.
- Support monthly and year-end closing activities related to inventory and COGS.
- Ensure compliance with company policies, accounting standards, and audit requirements.
- Collaborate with internal/external auditors on inventory and cost control processes.
Cross-Functional Collaboration
- Partner with store managers to monitor stock shrinkage, wastage, and obsolescence.
- Work closely with procurement and supply chain to ensure accurate cost data.
- Support finance in preparing profitability analysis per store and product category.
Requirements:
- Bachelor's degree in Accounting, Finance, or a related field.
- Professional qualification (CPA, CMA, ACCA) preferred.
- 3–5 years of experience in cost accounting or inventory accounting, ideally in retail or FMCG.
- Strong knowledge of accounting principles, inventory control, and cost allocation.
- Proficiency in ERP/Inventory management systems (SAP, Oracle, or similar).
- Advanced MS Excel and data analysis skills.
- Strong attention to detail, accuracy, and analytical skills.
- Ability to work cross-functionally with operations and finance teams.
