Inventory Accountant

Position: Inventory Accountant

Reports to: Business Unit Controller

Department: Financial Management Team

Job Summary

Expert with regards to the controls and costs associated with the inventory process. Responsible in ensuring inventory efficiency measures and in minimizing inventory related risks. Handles accurate, timely and complete recording of inventories.

Essential Duties and Responsibilities:

1. Checks that costs recorded are accurate and makes the necessary revaluations, if necessary.

2. Ensures that subsidiary ledgers are tallied with general ledger inventory values and reconciles any differences;

3. Investigates inventory errors and books adjusting/correcting entries;

4. Reviews results and verifies causes of variances from stock counts before they are booked;

5. Participates in stock counts;

6. Verifies requests for inventory adjustments before they are booked including witnessing disposals of damaged and expired stocks;

7. Generates inventory reports and analyzes variances and unusual transactions/occurrences, if any, particularly those relating to shrinkages. Raises significant findings to Business Unit Controller and coordinates this with concerned departments e.g. Warehouse, Stores and Supply Chain Management;

8. Performs margin analyses and checks on any unusual margin ratios;

9. Records all valid vendor invoices related to inventories completely, timely and accurately, including booking of add-on costs. Processes payment to foreign inventory suppliers and;

10. Tracks short-shipped items and coordinates with Supply Chain Management on claiming of credit notes; Also makes sure that these are applied on subsequent payments to suppliers;

11. Monitors billing of landed cost allocations to affiliates;

12. Helps lessen control risk in the inventory process by suggesting policies;

13. Performs other functions that may be required.

Performance Indicators:

1. Response time in addressing queries from internal customers;

2. Accurate, timely and complete recording of inventories – payment, receiving, adjustments, transfers and sales as per agreed service levels;

3. Timely, accurate and complete submission of inventory reconciliation reports;

4. All inventory reports are submitted by the 3rd day of the following month;

5. Process efficiency measures suggested and introduced relevant to the functions handled.

Qualifications:

1. Graduate of Bachelor of Science in Accountancy, preferably a Certified Public Accountant;

2. Has good mathematical and analytical skills;

3. Has command of both technology and finance issues;

4. Has good written and oral communication skills in English and Filipino and has the ability to communicate complex information effectively;

5. Confident especially in challenging decisions that are not in the Company’s best interests;

6. Honest and trustworthy;

7. Eager to embrace change;

8. Has effective interpersonal skills;

9. Accessible; promotes teamwork and encourages feedback.