About Twiga
Twiga is a B2B e-commerce company that builds fair and reliable markets for agricultural producers, food manufacturers, and retailers based on transparency and efficiency. Our Mission is to build a closed ecosystem for African retail, anchored on affordable access to food and grocery across urban cities. Our Ambition is to leverage technology, the ubiquity of mobile phones, modern distribution, and logistics to modernize African retail.
Role Summary
Reporting to the Chief Accountant, the Cost Accountant is responsible for analyzing, assigning or allocating costs related to trading goods, in a manner that facilitates accurate and timely profitability reporting and inventory valuation.
The Cost Accountant is responsible for the accuracy of the Cost of Goods Sold (COGS), Gross Profit (GP) and Inventory valuation reported. S/he is also responsible for reporting on other supply chain costs directly attributable to the final COGS and highlighting costs and inventory management inefficiencies.
Key Responsibilities
Cost Accounting
- Objectively determines the cost bases and drivers to determine activity-based costings (ABC) for specific services or products.
- Develops and implements an efficient Standard costing system of accounting for costs and on a regular basis assesses the variance between the standard (efficient) cost and actual costs, presenting actional insights and recommendations.
- Confirms all inventory related cost and gains (Rebates, trade discounts, credit notes, surcharges etc.) are accounted for in the product costing and inventory valuation.
Margin Health, Profitability and Variance Reporting
- Develop and implement a system of daily mass/gross checks on revenues and cost of goods sold (COGS) for assurance purposes and flagging inconsistencies vs raw daily expected gross profit (GP).
- Report the quantum, percentage and health of the Gross Margin (GP) with an in-depth analysis of revenue and volume mix across categories, products and SKUs with insights on variances between target GP and realized GP.
- Analyse profitability by segment (by channel, geography, profit center etc.).
- Identify, follow-up, report and escalate mis-priced products or items being sold at sub-optimal selling price and make recommendations.
Inventory Valuation & Value Preservation
- Accurately value and reconcile inventory considering all input costs associated with the inventory (variable and fixed).
- Identify, compute, and call out unaccounted / abnormal inventory losses in the warehouse, transport, depot and commercial sub-processes, collate possible causes and present actionable insights and recommendations.
- Report abnormal inventory waste levels vs threshold and initiate discussions around a targeted solution.
- Report monthly closing inventory values to the insurance provider and initiate insurance compensation for insurable losses.
- Confirm adherence to company inventory policy at all inventory holding locations.
Cost Control
- Report on cost governance around all other direct cost efficiencies including electricity efficiencies, generator fuel, Ethelyn gas efficiencies, warehousing and labour (casuals) costs, etc.
- Track and collate all costs within the logistics, dispatch and last mile sub-processes that impact on the Cost of Goods Sold (COGS) such as transport costs, dispatch costs, returns etc. and reporting on efficiency variances.
Systems and Processes Management
- Undertake continuous reconciliation between underlying reports from systems outside the ERP with the accounting numbers as per ERP in particular Gross profit and Inventory valuation.
- Lead improvements of inventory and facilities related modules within the accounting system and reporting on discrepancies between the main ERP and other integrated systems such as WMS/DMS.
Reporting
- Participate in assigned month end close activities as per month end close checklist within set deadlines.
- Present comprehensive, accurate and informative reports with trends, insights, concerns, and recommendations clearly elaborated.
Other
- On a weekly/monthly basis, participating in the physical stock taking exercise for trading gods in conjunction with the wider accounting team.
- Participate in regular Fixed Asset verification and tagging exercise in the location(s) in conjunction with the wider accounting team.
- On a quarterly basis, participating in the business wide crate/pallet physical verification exercise and recommending write-offs losses
Self-management
- Model Twiga’s culture and way of working.
- Proactively manage own performance and deliver performance objectives and outcomes set.
- Attend monthly 1-on-1 performance enablement discussions and quarterly performance reviews with the line manager, and institute corrective action where performance falls below expectation.
- Proactively manage own learning and development.
- Adhere to the annual leave plan agreed with the line manager.
- Adhere to people management policies.
Compliance
- Comply with all organization policies, procedures, and statutory guidelines. Minimize and mitigate risks to the organization and enforce zero-tolerance to non-compliance.
- Close gaps/lapses identified as an outcome of audits; risk and/or any other compliance review; investigations; or other assessment mechanisms and take corrective/preventive actions within the agreed timelines.
Academic and Professional Qualifications
- A bachelor’s degree from a recognized accredited university preferably in accounting, economics, commerce, or a related field.
- Qualified Accountant (CPA-2) or ACCA equivalent.
Relevant Skills & Experience
- Three (3) to five (5) years’ accounting experience gained in a busy operational environment, with considerable exposure to inventory & cost accounting experience, working with an ERP/substantial accounting software.
- Good knowledge of credit management standards (IFRS), policies and regulations and financial accounting statements
- Self-starter with advanced analytical, critical thinking, and problem-solving skills. Good organizational skills, able to prioritize and delivery objectives set within timelines given.
- Strong consultative and influencing skills with the ability to build strong working relationships across all levels and bring together stakeholders.
- Strong interpersonal, communication and presentation skills with the ability to communicate information, whether technical or non-technical to staff members and customers, in a clear and concise manner.
- Strong proficiency in Microsoft Word, Excel, PowerPoint
- Results-oriented, flexible and adaptable to rapid change, with the comfort working in a fast-paced, high demand environment.
- Enthusiastic, decisive, pragmatic, resilient and forthright individual with a sense of urgency, and unquestionable integrity.
- Willing and able to travel.
