Introduction to the Role
As Head of Inventory and Cost Accounting you work directly with the CFO and the Head of the Accounting department. You will be responsible for overseeing and supervising the day-to-day operations of the Inventory Accounting department and for all inventory accounting functions.
The position of Head of Inventory and Cost Accountant entails:
Monitoring inventory transactions, responsible for the COGS bookkeeping and recording all transaction in the warehouse relating to receiving and issuing goods
Preparing monthly journal entries as needed and performing month-end reconciliations of inventory-related accounts payable ledger amounts
Reviewing and validating open balances associated with Inventory PO’s while working closely with business partners
Developing inventory analysis reports and analyzing variances
Assisting in the improvement in internal controls related to inventory
Execution of the periodic inventory physical count
Reconciling the inventory in Nav Accounting system with OMS and justify any differences.
Monitoring the slow moving items according to inventory aging, flagging the impaired items to be sold quickly or making provision according to the company’s inventory policy
Controlling and tracing lost items from the warehouse to be charged accurately in income statement
Performing month-end account reconciliations of inventory subsystems and general ledger.
Assist the field with OMS issues related to inventory.