Inventory Accountant at Life Flour Mill Limited

Life Flour is a premium flour developed to withstand the handling in your bakeries and we work on continuous improvement of our flour in order to meet the ever increasing demand of our customers. Life Flour Mill Ltd has a strong in house quality team, lead by our Quality Assurance Manager, assuring at all times that the Flour is meeting the High Life Flour Standard and operating in accordance to the regulatory standards applicable in Nigeria. We provide full technical support service throughout the country to all our customers and prospects. Our technical bakers will visit you in your bakery, to test, support and advise. We will not only validate processes but also where required advise on improvements both technical as well as process.

We are recruiting to fill the position below:

Job Title: Inventory Accountant

Location: Sapele, Delta
Department: Finance
Reports to: Finance Lead

Job Summary

• This role involves managing the inventory accounting system, reconciling inventory accounts, conducting regular audits, and ensuring compliance with financial regulations.

Key Responsibilities
Accounting, Reporting, Analysis:

• Daily accounting entries are correct, complete, timely and authorized (stock, production, losses/variances/shrink). Both execution as well as review of OPS entries.
• Weekly reporting and analysis of inventory management information and production information (stock levels, value/Mt, position in days, DIO, extraction, obsoleteness, slow moving, stock variances, wheat cost per Mt, extraction, shrink)
• Root cause analysis of all inventories related identified issues and follow up on action plans and timing
• Reconcile BI and NAV.
• Reconcile GO and NAV.
• Manufacturing and RM cost analysis and reconciliation.
• Prepare any other required reports (internal or external) related to the areas of responsibilities.

Controls and Compliance:

• Perform allocated monthly balance sheet reconciliations are adequately prepared, reviewed and concluded on WD+5.
• Review allocated balance sheet reconciliation for selected accounts.
• Setup a mass balance control.
• Stock take management (plan, lead, conclude, report)
• Grind out certification
• Verification of NAV information on inventory and production (q, p, provisions, BOM etc)
• Compliance of inventory related (accounting policies) and translation to local policies.
• Communicate timely on non- compliance with standards for inventory and production.

Audits, reviews, assessments:

• Support the year end audit and ensure that auditors are provided with the required information and documentation on time.
• Lead and ensure accurate and timely completion of other internal, external and governmental audits.
• Responsible for timely and effective remediation of all audit findings occurring in the area of responsibility.

Development:

• Setup and implementation of inventory policies (cross department)
• Follow developments in production, commodity, milling industry, supply chain
• Actively participate and contribute in meetings and business inter actions as required.
• Report development to make reporting most efficient.
• Take an active role in the enhanced use of the current and future system in relation to the areas of responsibilities.
• Maintain existing or obtain credentials and certifications related to improving the performance of your duties.
• Seek out additional educational opportunities in line with Company needs.
• Improve and/or keep up to date with MS Office Suite skills and MS NAV.

Staff management:

• Train 1 junior accounts clerk/trainee/intern per year on the value chain, inventory and relevant accounting policies
• Train 1 backup team member
• Document SOPs for processes relating to the areas of responsibility
• Any other assigned task or responsibility by management.

Qualifications

• Candidates should possess a Bachelor's Degree in Accounting, Finance, or a related field.
• Must have 2-5 years of experience in accounting, with a focus on inventory management or cost accounting.
• Certifications: intermediate of ACCA, CA, CMA etc. certification
• Age: 25 – 35years.

Skills and competencies:

• Strong analytical and problem-solving skills.
• Proficiency in accounting software (e.g. Microsoft NAV and Microsoft office
• Excellent attention to detail and organizational skills.
• Ability to work independently and as part of a team.
• Knowledge of GAAP and other relevant accounting standards.

Application Closing Date
23rd September, 2024.

How to Apply
Interested and qualified candidates should send their CV at: lfm_recruitment@lifeflourgroup.com using the Job Title as the subject of the email.