Inventory Accountant

Perseus Mining Limited is seeking an experienced Inventory Accountant responsible for the accurate valuation, control, reconciliation and reporting of inventory for a large-scale gold mining operation in Tanzania. The role covers consumables, spare parts, fuel, reagents, explosives, ore stockpiles and gold-in-process inventory, while supporting cost control, production reporting and compliance with IFRS, particularly IAS 2, company policies and Tanzanian regulatory requirements.

Responsibilities

• Maintain accurate inventory records in the ERP system across warehouses and stock locations.
• Ensure appropriate inventory valuation methods, including weighted average cost and standard cost, are applied in accordance with company policy and IFRS.
• Calculate and post monthly inventory adjustments covering stock movements, cost allocations, shrinkage and write-downs.
• Prepare monthly inventory valuation reports.
• Reconcile inventory sub-ledgers with general ledger balances.
• Account for ore stockpiles, work-in-process and finished gold-in-process inventories in accordance with IAS 2 and relevant mining practices.
• Perform detailed reconciliations between physical stock, ERP inventory records and general ledger balances.
• Investigate and resolve discrepancies involving receipts, issues, transfers, returns and unit costs.
• Coordinate month-end cut-off procedures for goods in transit, goods received notes and uninvoiced receipts.
• Prepare inventory-related journals, including reclassifications, provisions and adjustments.
• Maintain appropriate supporting documentation for inventory journal entries.
• Prepare inventory schedules and commentary for monthly management reporting.
• Analyse inventory consumption by department, cost centre and project.
• Identify and report abnormal inventory consumption patterns and trends.
• Work with Supply Chain, Maintenance, Mining and Processing teams to understand inventory and operational cost drivers.
• Support standard-cost and bill-of-materials reviews for critical inventory items and consumables.
• Assist with establishing and reviewing consumption norms for fuel, tyres, reagents and other critical materials.
• Monitor actual consumption against established standards.
• Provide inventory and consumption data for budgeting, forecasting and cost-reduction initiatives.
• Coordinate and participate in periodic physical stocktakes and cycle counts.
• Develop and maintain stocktake procedures, count instructions and variance-investigation guidelines.
• Review stock adjustments resulting from physical counts and ensure appropriate explanations and authorisations are provided.
• Assess and strengthen internal controls covering inventory receiving, storage, issuing, returns and write-offs.
• Ensure appropriate segregation of duties between Finance, Warehouse and Supply Chain functions.
• Monitor slow-moving, obsolete and excess inventory.
• Prepare inventory ageing and stock-turnover analyses.
• Calculate and recommend provisions for obsolete, damaged and non-moving inventory in accordance with IFRS and company policy.
• Coordinate with user departments and Supply Chain on inventory write-offs, disposals and stock-rationalisation activities.
• Maintain accurate inventory master data, including item codes, descriptions, units of measure and costing parameters.
• Support implementation and optimisation of ERP inventory and warehouse-management modules.
• Identify and implement process improvements to strengthen inventory accuracy, efficiency and controls.
• Provide training and guidance to warehouse and end-user staff on inventory procedures and documentation.
• Ensure inventory accounting complies with IFRS, IAS 2, Tanzanian regulations and company policies.
• Prepare inventory schedules and supporting documentation for internal and external audits.
• Respond to inventory-related audit queries and support resolution of audit findings.
• Support group and corporate reporting requirements relating to inventory, including consolidation packs, standard reporting templates and KPIs.

Requirements

• Bachelor’s Degree in Accounting, Finance, Commerce or a related field.
• Three to five years of accounting experience.
• At least two years of experience specifically focused on inventory or stock accounting.
• Experience working in a capital-intensive or manufacturing environment.
• Experience in mining, particularly gold mining, is strongly preferred.
• Experience in oil and gas, manufacturing or another heavy industry is also highly relevant.
• Strong knowledge of IFRS.
• Strong understanding of IAS 2 – Inventories.
• Hands-on experience using ERP systems and inventory modules.
• Experience with systems such as SAP, Pronto or Sage is preferred.
• Professional accounting qualification such as CPA, ACCA or CIMA, or progress toward one, is preferred.
• Familiarity with the Tanzanian tax and regulatory environment is an advantage.