Cost Accountant

Contract: Short-Term
Location: Nairobi

1. Cost Analysis and Reporting:
• Analyze the cost structure of construction materials, including procurement, storage, and distribution expenses.
• Evaluate direct and indirect costs associated with multi-location store operations.
• Prepare detailed cost reports and identify key areas of inefficiency or overspending.
• Perform variance analysis to compare actual costs against budgets or standards.
2. Inventory and Pricing Management:
• Assess inventory valuation methods (e.g., FIFO, LIFO, Weighted Average) to ensure accuracy.
• Conduct an inventory cost audit across all store locations to identify discrepancies or shrinkage.
• Develop and recommend pricing strategies to optimize profit margins while staying competitive.
3. Budgeting and Forecasting:
• Collaborate with finance and operations teams to review current budgets and forecasts.
• Develop a cost-focused budget plan for materials, labor, and overheads.
• Provide financial modelling to predict future costs based on trends and operational changes.
4. Cost Control and Optimization:
• Identify cost-saving opportunities in procurement, logistics, and operations.
• Recommend strategies for reducing wastage, transportation costs, and storage inefficiencies.
• Design and implement cost control measures to monitor and manage expenses effectively.
5. Process Improvement:
• Review existing financial and operational processes to identify bottlenecks and inefficiencies.
• Propose process improvements to streamline cost accounting procedures.
• Standardize cost tracking and reporting methods across all store locations.
6. Compliance and Documentation:
• Ensure compliance with tax and financial regulations specific to the construction materials industry.
• Maintain accurate documentation of cost analysis findings and recommendations.
• Support preparation for financial audits by organizing cost-related data.
7. Stakeholder Engagement:
• Work closely with the finance team, procurement team, and store managers to gather necessary data and insights.
• Present findings and actionable recommendations to senior management
• Provide training and knowledge transfer to internal finance staff on cost accounting techniques and tools.
8. Project Reporting:
• Deliver periodic progress reports to management on the status of the cost analysis and optimization efforts.
• Submit a comprehensive final report at the end of the engagement, summarizing key findings, recommendations, and implementation steps.
9. Key Deliverables:
• Comprehensive cost analysis report.
• Recommendations for cost optimization and pricing strategies.
• Improved processes for inventory valuation and cost control.
• Training sessions or documentation for internal teams to sustain improvements.
10. Technical Skills:
• Proficiency in accounting software (e.g., Quick Books, SAP, or Oracle).
• Advanced knowledge of Microsoft Excel for financial modeling, cost analysis, and reporting.
• Strong understanding of inventory management, cost control, and pricing strategies.
• Knowledge of tax and regulatory compliance related to the construction materials industry is a plus.
11. Education and Certification:
• Bachelor’s degree in Accounting, Finance, or a related field.
• Professional accounting certification (e.g., CPA, ACCA, or CMA) is highly preferred.
12. Experience:
• Minimum of 5 years of experience in cost accounting, preferably in the construction materials or retail distribution industry.
• Proven track record in conducting cost analyses, budgeting, and financial modelling for inventory-heavy businesses.
• Familiarity with multi-location store operations and cost structures.
• Familiarity with the pricing dynamics, supply chain, and operational challenges in the construction materials sector.
• Understanding of retail store operations, including cost allocation and profit margin analysis.