Cost Accountant

Innovative Packaging Industry Corporation; Valenzuela; On-site; PHP 334,800 - 558,000; Full time

Job summary

A leading packaging firm located in Valenzuela is seeking an Inventory Accountant responsible for accurate inventory management and reconciliation across multiple plants. Candidates must have a Bachelor's degree in Accountancy and 2–5 years' experience in inventory accounting, preferably in manufacturing. Proficiency in ERP systems like SAP and strong Excel skills are essential. The role involves supporting month-end and year-end closing processes, as well as ensuring compliance with accounting standards.

Qualifications

• Minimum of 2-5 years' experience in inventory accounting, preferably in a manufacturing or FMCG environment.
• Strong knowledge of COGS and manufacturing accounting.
• Ability to work cross-functionally and meet tight reporting deadlines.

Responsibilities

• Maintain accurate inventory records for all inventory types.
• Perform regular reconciliation between physical inventory and accounting systems.
• Prepare inventory-related journal entries for month-end and year-end closing.

Skills

Inventory costing

Analytical skills

Problem-solving

Excel proficiency

Education

Bachelor's Degree in Accountancy

Tools

SAP

Odoo

Microsoft Excel

Job description

Innovative Packaging Industry Corporation

Job Description

The Inventory Accountant is responsible for the accurate accounting, monitoring, and reconciliation of inventories covering raw materials, packaging materials, work-in-process (WIP), and finished goods.

This role ensures proper inventory valuation, cost accuracy, and compliance with accounting standards, while supporting production, supply chain, and management reporting requirements across all branches (Valenzuela Plant, Cabuyao Plant, Canlubang Plant, and CDO Plant).

Key Responsibilities

Inventory Accounting and Valuation

• Maintain accurate inventory records for raw materials, packaging materials, WIP, and finished goods.
• Ensure proper inventory valuation in accordance with accounting standards (e.g., FIFO, weighted average).
• Compute and monitor standard costs, actual costs, and cost variances.
• Review and analyze inventory reserves, slow-moving, obsolete, and expired stocks.

Reconciliations and Controls

• Perform regular reconciliation between physical inventory, warehouse records, and accounting systems (e.g., SAP, Oracle, Dynamics).Investigate and resolve inventory discrepancies, shortages, and overages.
• Support cycle counts and annual physical inventory counts, including variance analysis and adjustment posting.
• Maintain strong internal controls over inventory movements and transactions.

Cost of Goods Sold (COGS)

• Ensure accurate recording of inventory consumption, production output, and finished goods transfers.
• Prepare and review COGS calculations for period-end closing.
• Analyze variances related to material usage, yield, scrap, and production losses.

Production and Supply Chain Support

• Coordinate with Production, Warehouse, Procurement, and Planning teams on inventory-related issues.
• Monitor material issuance, returns, and production yields.
• Validate bill of materials (BOM), routings, and material usage accuracy.
• Support toll packing or contract manufacturing arrangements, if applicable.

Month‑End and Year‑End Closing

• Prepare inventory‑related journal entries (e.g., receipts, adjustments, reclassifications).
• Support month‑end and year‑end closing processes.
• Prepare inventory schedules, roll‑forwards, and supporting documents for audits.

Reporting and Analysis

• Prepare inventory aging, turnover, and stock level reports.
• Analyze inventory trends, variances, and key performance indicators.
• Provide management with insights on inventory efficiency, carrying costs, and risk exposure.

Audit and Compliance

• Provide documentation and explanations to internal and external auditors.
• Ensure compliance with company policies and accounting standards.
• Assist in implementing process improvements and system enhancements.

Qualifications and Requirements

• Bachelor's Degree in Accountancy, Finance, or any related field.
• Minimum of 2–5 years' experience in inventory accounting, preferably in a manufacturing or FMCG environment.
• Strong knowledge of inventory costing, COGS, and manufacturing accounting.
• Experience with ERP systems (SAP, SAP Business One, Odoo).
• Proficient in Microsoft Excel (pivot tables, formulas, reconciliation models).
• Strong analytical, problem‑solving, and attention‑to‑detail skills.
• Ability to work cross‑functionally and meet tight reporting deadlines.

Preferred Skills

• Experience in handling raw materials, packaging materials, and finished goods inventories.
• Exposure to toll packing or contract manufacturing arrangements.
• Knowledge of inventory optimization, slow‑moving and obsolete (SLOB) analysis.
• Audit experience is an advantage.

Key Performance Indicators (KPIs)

• Accuracy of inventory balances and valuation.
• Timeliness and accuracy of month‑end inventory closing.
• Inventory variance resolution.Afect findings related to inventory.
• Inventory turnover and aging metrics.