Job Description
Job Description • The Factory Accountant is responsible for managing and maintaining accurate financial and accounting records for the factory while providing financial oversight of manufacturing operations.
• The role will focus on production costing, inventory accounting, raw material consumption, finished goods, factory expenses, reconciliations, financial reporting, and internal controls.
• The ideal candidate should have hands-on accounting experience within a manufacturing environment, with a strong understanding of factory operations, production processes, inventory management, cost accounting, and financial controls.
Key Responsibilities
• Manage the day-to-day accounting activities of the factory and ensure accurate and timely recording of all transactions.
• Prepare and maintain accurate reports on raw materials, work-in-progress, finished goods, and production costs.
• Monitor and reconcile raw material consumption against production output and approved production formulations or standards.
• Prepare and analyze product costing, including raw materials, labour, production overheads, and other manufacturing costs.
• Monitor factory expenses and ensure expenditure is properly authorized, supported, and recorded.
• Conduct regular reconciliation of inventory records between physical stock, warehouse records, and accounting records.
• Review production reports, material usage, wastage, variances, and yield to identify unusual movements or potential losses.
• Maintain accurate records of production-related transactions, requisitions, waybills, deliveries, and other supporting documentation.
• Prepare periodic factory financial and management reports, including cost, inventory, variance, and operational performance reports.
• Monitor accounts payable and receivable transactions relating to factory operations.
• Ensure proper documentation and accounting treatment of purchases, supplier invoices, production expenses, and other factory transactions.
• Conduct periodic physical stock counts and investigate discrepancies between physical and book balances.
• Monitor fixed assets within the factory and maintain accurate records of additions, disposals, transfers, and depreciation.
• Ensure compliance with approved financial policies, accounting procedures, and internal control requirements.
• Support internal and external audits by providing accurate records, schedules, reconciliations, and supporting documentation.
• Liaise with Production, Warehouse, Procurement, Logistics, Quality Assurance, and other departments on financial and operational matters.
• Identify control weaknesses, financial risks, cost leakages, and opportunities for improving factory profitability.
• Support the Finance Manager in budgeting, forecasting, financial analysis, and cost-control initiatives.
• Perform other finance-related duties as assigned by Management.
Key Requirements
• Bachelor's Degree in Accounting or a related discipline.
• Professional qualification such as ICAN, ACCA, or equivalent is strongly preferred.
• Minimum of 5 years' relevant accounting experience, with at least 3 years in a manufacturing or factory environment.
• Proven experience in manufacturing accounting, inventory accounting, and product costing.
• Strong understanding of production processes, raw material consumption, finished goods, stock reconciliation, and manufacturing overheads.
• Experience preparing and analyzing production and inventory reports.
• Strong proficiency in Microsoft Excel and accounting/ERP systems.
• Experience with ERP-based inventory and accounting systems will be an advantage.
• Strong analytical, numerical, and problem-solving skills.
• High level of integrity, attention to detail, and accuracy.
• Ability to work effectively with Production, Warehouse, Procurement, and other operational teams.
• Candidates with experience in batch production, formulation-based manufacturing, raw material consumption, product costing, inventory control, and production variance analysis will be particularly preferred.
