Food Accountant

Position Title: Food Accountant

Department: Finance & Accounting

Location: Libis, QC

1. Position Overview

The Food Accountant plays a critical role in safeguarding the financial integrity of Filoil Philippines Corporation's food operations. This role leads the full cycle of food costing, inventory accounting, and production financial controls. The Food Accountant ensures accuracy of raw material usage, yield performance, wastage reporting, and COGS computation through rigorous processes and cross-functional coordination with Supply Chain, Production, QA, and Procurement.

This is a highly technical accounting role and requires a Certified Public Accountant (CPA) with solid experience in food manufacturing, food service, FMCG, or similar fast-moving operational environments.

2. Key Responsibilities
A. Cost & Financial Accounting

• Maintain and update standard costs, BOM costing, and item cost structures.
• Perform monthly COGS computation and reconciliation of raw materials, WIP, and finished goods.
• Prepare and analyze material usage variances, yield deviations, and conversion cost variances.
• Validate supplier invoices, unit prices, and quantity received vs PO and DR.
• Ensure correctness of journal entries related to inventory, production, and COGS.

B. Inventory Controls & Monitoring

• Lead and reconcile daily, weekly, and monthly inventory counts.
• Investigate and resolve inventory discrepancies, wastage anomalies, and shrinkage.
• Track and validate spoilage, rejects, and production losses against allowable standards.
• Coordinate with warehouse teams to enforce FIFO/FEFO and proper material handling.
• Monitor and audit receiving, issuance, and transfer transactions within the ERP.

C. Production Accounting

• Validate BOM accuracy, recipe costing, and consumption reports.
• Analyze production efficiency, batch performance, and cooking yields.
• Monitor actual vs standard consumption and recommend corrective actions.
• Support new product costing, recipe revisions, and price simulations.
• Review machine hour logs, labor cost allocations, and overhead absorption.

D. Reporting & Analysis

• Prepare weekly and monthly Food Cost Reports, including variance and trend analysis.
• Issue actionable insights to improve food cost, material efficiency, and profitability.
• Provide product margin analysis and cost scenarios for commercial teams.
• Support annual budgeting, rolling forecasts, and cost planning activities.

E. Compliance, Controls & Audit

• Ensure compliance with Philippine Financial Reporting Standards (PFRS).
• Maintain strong internal controls across production, procurement, and warehouse functions.
• Prepare audit working papers and support internal/external audit reviews.
• Enforce documentation standards and ensure full traceability of inventory movements.

3. Technical Requirements & Competencies
A. Technical Skills

• Strong foundation in Cost Accounting, Manufacturing Accounting, and Food Costing.
• Advanced proficiency in Excel (pivot tables, PowerQuery, modeling, dashboards).
• Proficiency in ERP/accounting systems (SAP or similar).
• Expertise in BOM management, standard costing, actual costing, and variance analysis.
• Strong understanding of warehouse processes, food production flow, and QA controls.
• Familiarity with HACCP, GMP, and food handling standards (preferred but not required).

B. Behavioral Competencies

• High integrity and strong adherence to accounting standards.
• Detail-oriented with strong analytical and problem-solving skills.
• Able to communicate effectively across technical and non-technical teams.
• Thrives in fast-paced, high-volume operational environments.
• Strong sense of ownership and accountability.

4. Qualifications

• Bachelor's Degree in Accountancy
• Must be a Certified Public Accountant (CPA)
• Minimum 3–5 years experience in cost accounting, ideally in food manufacturing, food service, FMCG, or related industries.
• Experience in commissary, food processing, or production accounting is highly preferred.

---