Cost Accountant Job at NGK & Co Chartered Accountants

NGK & Co Chartered Accountants - Our client, a five star Hotel situated in Lagos State.

They are recruiting to fill the position below:

Job Position: Cost Accountant

Job Location: Lagos
Employment Type: Full-time
Reporting Line: Finance Director
Start Date: Immediate (Now till February 2025)
Contract Duration: Full-time, rolling / indefinite position, subject to performance.

Job Summary

• Cost Accountant shall be responsible for monitoring and managing the hotel's overall operating costs.
• This includes analyzing costs structures, implementing cost saving strategies, and ensuring that all departments adhere to budgetary guidelines without compromising the service quality of the hotel.
• The development and execution of control systems designed to maximizing company efficiency results, You will be working closely with departmental heads to optimise costs across all operational areas of the hotel.

Key Responsibilities
Cost Accountant Key Deliverables:
Financial Operations:

• Inventory Management: Check Goods Receive Vouchers (GRV) with items received for accuracy of cost, quantity and quality; Accounting for stock movement (bar, restaurant, banquet, housekeeping and Kitchen) i.e. receipts and issues
• Monthly stock counting and valuation of closing inventory of finished goods, WIP Kitchen, bar, banquet, housekeeping & restaurant
• Production of accurate and timely yield reports with analysis/explanation. Generate Internal closing Stock report, Consumption report, Pastry report and Food & drinks DSA reports.
• Weekly Report to monitor individual Sales Items Cost of Sales Analyze financial data and prepare cost control reports for management, highlighting areas of overspending and recommending corrective actions.
• Produce Yield Analysis Report , bad and damage reports
• Develop and maintain cost control systems to track daily, weekly, and monthly expenses.
• Liaise with procurement to Source for best price and Liaise with other departments ensuring cost is minimized
• Produce Budget Exception Report to ensure expenses are within budget and those items above limit have justification. Conduct regular variance analysis by comparing actual costs with budgeted figures to identify discrepancies and inefficiencies.
• Manage the cost of sales ratio by enforcing standard recipe adherence, proper documentation, active control to minimise theft and pilferages. Resolve all issues relating to the smooth operations of BIODUX within reasonable time
• Conduct regular stock takes and audits to identify discrepancies, wastage, or theft, and implement preventive measures.
• Provide weekly update and analysis on turnover cost of sales and waste

Financial Report Control:

• Analyze financial performance, identifying trends, variances, and opportunities for cost savings or revenue growth.
• Monitor and analyze revenue streams from accommodation, food and beverage, events, and other services.
• Track operational expenses, including payroll, procurement, and maintenance costs.
• Implementing cost-control measures to improve profitability.

Key Qualifications

• Bachelor’s Degree in Accounting, Business Administration, Banking and Finance, or a related field. Master’s degree preferred.
• Minimum of 5 years of experience in auditing or financial accounting, taxation, treasury management, budgeting, and reporting, preferably in the Maritime sector.
• Chartered accountant certification is mandatory.
• Proficiency in financial management software, especially SAGE.
• Advanced proficiency in Microsoft Excel, including pivot tables, dashboards, and macros.

Key Attributes:

• Excellent analytical and problem-solving skills.
• Strong financial reporting skills.
• Excellent communication and interpersonal skills.
• Great attention to detail.
• Ability to manage multiple projects and work under pressure.
• Strong organizational skills, able to prioritize, plan, and meet tight timeframes.
• Ability to work independently and as a member of a team to coordinate and lead the efforts of other professionals to effectively meet program goals.
• Commitment to the organization’s mission and values.

Compensation & Benefits

• Highly competitive, subject to credentials.

Note: Only shortlisted candidates will be contacted for interviews.