Factory Accounting Associate II

Job Overview

The Factory Accounting Associate II is responsible for supporting the factory’s accounting processes by ensuring accurate and timely recording, analysis, and reconciliation of manufacturing costs. This role will validate manufacturing process instructions, track and report production variances, conduct monthly inventory counts, and coordinate closely with Production and Inventory teams to maintain accuracy in inventory, cost, and material usage. Additionally, the associate will assist in the fixed asset monitoring, cost-sharing computations, and ensure accurate documentation and compliance with company standards.

Key Responsibilities

1. Manufacturing Process Validation and Inventory Coordination
   • Validate manufacturing process instructions, including operating and mixing instructions, to ensure alignment with production standards.
   • Conduct monthly inventory counts on the production floor, ensuring accuracy in stocks, and recommend necessary stock adjustments.
   • Regularly review transaction edit lists from warehouse activities, monitoring potential errors and verifying unit costs in Purchase Orders (PO).
2. Production Cost and Variance Reporting
   • Report variances in actual production costs versus standard costs, providing highlights to Production Management.
   • Prepare standard and actual cost of production per production run and for total FG quantities transferred.
   • Analyze production variances at the end of each production run and prepare monthly variance reports for review by the Production team.
   • Proactively flag production variances and collaborate with Production on areas for improvement.
3. Standard Cost Preparation and Reconciliation
   • Prepare the standard cost of production per FG and for monthly production, including reconciliation of FG transferred per TOS with actual quantities produced.
   • Reconcile raw materials (RM) and packaging materials (PM) usage recorded on production logs with actual usage at the end of each production run.
   • Collaborate with RM/PM inventory staff to confirm average unit costs for accurate materials consumption tracking.
4. Inventory Control and Reconciliation
   • Manage tasks including stock count reconciliation, goods-in-transit reconciliation, backload tracking, and monitoring slow-moving, non-moving, expired and near-expiry stocks and purchases.
   • Support the disposal process for expired stocks and ensure accurate filing of all stock-related documents, including DR transaction edit lists, TOS, Pick-up Slips (PUS), and Inventory count tags.
   • Perform ABC analysis for inventory control and selective monitoring of high-priority items.
   • Prepare and submit monthly management reports, including MANCOM-related reports and status reports on inventory, production cost variances, and stock adjustments.
   • Support in providing timely and accurate inventory related reports and information to key stakeholders.
   • Support in the internal audit of the company inventory.
5. Standard and Actual COGS Comparison
   • Compare standard Cost of Goods Sold (COGS) with actual COGS recorded in the books, performing necessary adjustments as required.
   • Assist in verifying unit costs for sales returns, stock transfers, production yield, bom recode/relabel and other stock-related transactions.
6. Factory Cost Reduction and Efficiency Initiatives
   • Assist the Production Team in identifying and tracking cost reduction initiatives, verifying reported savings, and enhancing production efficiency.
   • Together with Production and Utilities Supervisors, regularly review and update standards or theoretical material and expense usage metrics.
7. Fixed Asset Monitoring and Cost Sharing
   • Support the General Accounting (GA) team with fixed asset monitoring, assisting in cost-sharing computations for shared factory assets and resources.
8. System and Data Management
   • Set up new item codes in the D365 system, based on Marketing, PD and Inventory Team inputs.
   • Set up and analyze landed cost to capture accurate cost.

Qualifications

• Bachelor’s degree in Accounting, Finance, or a related field.
• Minimum of 2-3 years of experience in cost accounting, inventory management, or factory accounting.
• Proficiency with ERP systems, preferably Microsoft Dynamics 365, and strong Microsoft Excel skills.
• Knowledge of manufacturing processes, inventory control, and standard costing.
• Strong analytical, organizational, and problem-solving skills.
• Ability to work collaboratively across departments, especially with Production and Inventory teams.