Job Summary
- The incumbent determines the actual cost associated with production and product prices by looking at all expenses within the supply chain. This also involves budget preparation, profitability analysis, reviewing financial records, researching market rates, providing data for stable budget developments, allocating indirect costs to internal processes, and detailed analysis of suitable cost drivers.
Job Responsibilities
- Collecting and analyzing data about the company’s operational costs.
- Developing and analyzing cost standards for profit maximization.
- Carrying out cost-volume-profit (CVP) analysis, across all units in the business.
- Analyzing audits of food costs and preparing reports.
- Making estimates of new and proposed food costs.
- Providing management with reports specifying and comparing factors affecting prices and profitability of products.
- Analyze actual production costs and prepare periodic reports, comparing budget costs to actual production costs and conducting product margin reporting and analysis.
- Collecting and analyzing data about a company’s operational costs.
- Setting standard costs of the manufactured goods and product prices.
- Develop and analyze cost standards.
- Carrying Out Cost Volume Profit (CVP) analysis
- Plan and record variable costs (e.g.purchases of raw material and operations costs)
- Review standard and actual costs for inaccuracies.
- Analyze and report profit margins.
- Prepare (monthly, quarterly, and annual) cost forecasts.
- Identify and recommend cost-effective solutions.
- Assist in the improvement of internal controls related to inventory.
- Work closely with relevant process owners to obtain the necessary information required for compilation, documentation, and analysis of costs.
- Carry out monthly stock counts, analyze variances, and perform reconciliation.
- Perform all other duties assigned by management.
- Assist the businesses in determining a competitive pricing strategy to gain market share and achieve revenue goals.
- Analyze pricing data from industry standards, previous sales trends, and competitors and report data to decision-makers.
- Implement change in prices on ERP and Aisles
- Compare sales trends to previous periods and determine the cause for the decrease or increase.
- Forecast margins to help the business understand the impact of promotional and seasonal pricing
- Present pricing analysis at a monthly strategy meeting, with insights, trends, and suggestions.
- Lead pricing-related projects including establishing timelines, defining deliverables, and drafting communications or presentations.
- Work cross-functionally throughout the organization to drive analysis-driven change.
Qualification
- OND / HND / Bachelor’s Degree in Cost Accounting, Finance, Statistics, Math, Economics or related analytical discipline preferred
- Professional Certification is an added advantage
- Minimum of 3 years experience in a similar role including Inventory
- Financial management experience with planning, forecasting, and business analysis a plus
- Experience within the Retail/FMCG Industry is a plus
- Proficiency with analytical and presentation tools(Excel pivot tables, PowerPoint)
Method of Application | Cost Accountant – Retail at QMB BUILDERS’ MART
Interested and qualified candidates should send their CV, highlighting their Education, Experience, and Skills / Competence required for the role with a Cover Letter explaining why they are suitable to: careers@qmbmart.com using “Cost Accountant- Retail” as the subject of the email.
Deadline: Jun 5, 2023