Stock Accountant

The Stock Accountant is responsible for managing and maintaining accurate inventory records, ensuring efficient stock control processes, and supporting financial reporting related to inventory. This role plays a critical part in monitoring stock levels, analyzing inventory variances, and ensuring compliance with organizational policies and industry standards.

Key Responsibilities

Inventory Management:

• Monitor and maintain accurate records of stock levels in the inventory system.
• Conduct regular physical stock counts and reconcile with system records to identify variances.
• Ensure that stock levels meet operational demands while avoiding overstocking or stockouts.

Financial Reporting:

• Prepare inventory valuation reports for monthly, quarterly, and annual financial statements.
• Assist in cost accounting, including pricing, costing, and tracking of inventory.
• Provide analysis and insights on inventory trends and variances.

Stock Control:

• Implement and maintain robust stock control procedures to minimize losses and discrepancies.
• Collaborate with procurement, warehouse, and sales teams to ensure timely and accurate stock updates.
• Investigate and resolve discrepancies in inventory records or variances.

Compliance and Auditing:

• Ensure adherence to organizational and regulatory standards in inventory accounting.
• Support internal and external audits by providing accurate inventory records and reports.
• Maintain compliance with tax regulations related to inventory, including VAT, customs, and excise duties.

Data Management and Reporting:

• Maintain up-to-date records of inventory transactions in accounting systems.
• Generate detailed reports on inventory turnover, aging, and valuation for management review.
• Use inventory data to recommend process improvements and cost-saving measures.

Cross-Functional Collaboration:

• Work closely with warehouse and logistics teams to ensure proper inventory storage and handling.
• Partner with procurement to manage supplier relationships and stock replenishment schedules.
• Liaise with the finance team to ensure accurate cost allocation and reporting.

Qualifications and Requirements

• Education: Bachelor’s degree in Accounting, Finance, Business Administration, or a related field.
• Experience:
  • 2+ years of experience in inventory or cost accounting roles, preferably in retail, FMCG
  • Proficiency in inventory management software (e.g., SAP, QuickBooks, Oracle, or similar).
• Skills:
  • Strong knowledge of accounting principles and inventory valuation methods (e.g., FIFO, LIFO, Weighted Average).
  • Excellent analytical and problem-solving skills.
  • Proficiency in Microsoft Excel and data analysis tools.
  • Attention to detail and ability to meet deadlines in a fast-paced environment.

Key Competencies

• Strong organizational and time management skills.
• Ability to communicate effectively with cross-functional teams.
• Proactive approach to identifying and resolving inventory discrepancies.
• High level of integrity and professionalism.

Preferred Qualifications

• Professional certification CPA II is an added advantage.
• Experience in implementing or optimizing inventory systems and processes.
• Familiarity with inventory-related tax compliance and reporting requirements.