Cost Controller | Hostmind
Company Name: Hostmind
Qualification: Masters & Bachelors Degree
Location: Dubai, United Arab Emirates
Salary Range: 8,000 AED – 10,000 AED
Company Size: 500 – 1000 Employees
Other Benefits: Medical Insurance | Bonus
Employment: Full Time
About Company
Welcome to Hostmind, the leading innovator in creating and managing exceptional cloud kitchen concepts and brands in Dubai. With a rich heritage rooted in Lebanon since 2006, our founders bring a wealth of experience in the food and beverage industry and events management. Renowned for their unwavering commitment to quality service and delectable cuisine, they have established a reputation that precedes them.
Job Description/Role
Looking for an Accounting and Cost Supervisor who will plan, direct, and supervise all accounting activities and ensure that they are performed according to company policies and procedures. Ensures all financial transactions are applied following local and international standards to facilitate the audit exercise. As well as controlling the company’s cost center according to the margins set by the company.
Job Requirements:
• BA/BS in Business with an emphasis in Accounting, CPA is a plus.
• A strong financial accounting background.
• Experience in Accounting and ERP Software (Xero and Syrve)
• Min 3-5 years’ relevant experience in financial & management accounting.
• Relevant Experience in Recipe Costing and Pricing
• Relevant experience in audit and costing is advantageous.
• Excellent strategic planning skills and ability to interact with all levels.
• Good MS Office skills, particularly strong capabilities in MS Excel.
• Able to work independently and highly meticulous.
• Ability to multitask, work under pressure, and meet deadlines required.
Main Tasks:
• Adhere to the rules and regulations of HOSTMIND, and all its related managerial standards.
• Supports the Company’s mission, vision, values, and goals in the performance of the daily activities.
• Solves accounting-related problems when required, and takes necessary preventive actions to avoid recurrence.
• Supervises the activities of assigned personnel in the accounting and cost control section.
• Performs supervisory duties, and exercises authority at the level established by management for the position.
Monthly Tasks
• Performs the monthly closing of accounts, prepares/supervises the required statements and reports (such as payable & receivable aging, discounts, top items…), and passes to the finance department on time.
• Analyzes, explains, and reconciles inventory variances between the General Ledger and Perpetual Inventory System.
• Reviews processes related to inventory to ensure accurate flow of valuation and entries from perpetual systems to ledger.
• Attends during physical inventory conducted by operational members to ensure they are following correct counting procedures & methodology.
• Analyzes the consumption of consumables & packaging materials used by branches.
• Performs other related duties as requested by the management.
• Presenting accurate inventory reports to the financial department and upper management
• Control inventories and generate detailed reports to highlight high costs and corrective actions.
• Analyzes, explains, and reconciles sales variances between the General Ledger and the POS system.
• Compares account payable ledger with individual creditors’ statements to ensure accuracy.
• Maintains the fixed assets register (correct addition, depreciation, and disposal), and controls their accounts on the general ledger.
• Checks monthly employee loan/ advance accounts are zero.
• Prepares all accounting entries for all charges paid in advance such as insurance, premiums, subscriptions permits, etc…based on approved lists received from the country director and reviews the list for proper authorization before entering into the system.
• Prepares accounting entries on revenues and charges to be received and paid for year-end closing of books based on information received from director/ finance.
• Receives suppliers’ invoices related to rent, and cleaning, issues sales invoices related to assets, separates them into various account centers, enters them into the system, and checks them to ensure that entries are made into the allocated accounts.
• Performs the provision of end-of-service indemnity table with its adequate accounting entries, and passes to finance for their review and approval.
• Ensures every month that all provisions are correctly applied.
• Prepares and issues checks to company beneficiaries i.e. suppliers, employees, etc… based on lists approved by the country director.
• Determines bank and account to use, ensures all relative documents are attached to request and properly authorized, passes issued checks to the director for signature, receives signed checks, and pays beneficiaries.
• Prepares daily and monthly treasury positions of banks to control the movement of accounts, and passes to finance
• Prepares all bank correspondence and passes to director for review and approval
• Checks bank statements received to ensure accuracy of bank movement i.e. deposits/ withdrawals, interest rates, commissions, and value dates are as per agreement and reports findings to finance.
• Examines and verifies the accuracy of all cash journal entries and accounting classifications assigned to various records performed by the accountant.
• Performs monthly surprise cash counts for the delivery and coffee house cashier.
• Controls taxes on salaries and NSSF contributions prepared by the HR department, performs all legal declarations requested such as VAT, NSSF, Taxes ( on salaries, non-resident tax, tax on loan between sister companies) on time and passes to finance for review and approval.
• Generate the monthly accurate profit and loss reports.
Yearly Tasks:
• Performs the annual closing of books, prepares the related on time, and passes to Finance for review and approval.
• Communicates with external auditors and Ministry of Finance inspector, and prepares all needed data on time. Also facilitates the work transaction between the mentioned entities and various departments.
General:
• Coordinates with the lawyer to ensure compliance with local regulations and laws (operating licenses, & permissions, minutes of the company’s general assembly).
• Coordinates between the cost, budget, and accounting sections to ensure that the data for the financial, and budget analysis reports are assembled and carried out according to budget procedures;
• Recommends proposals for approval by Finance & Country Director for improving policies related to accounts receivable, accounts payable, cash, accounting, auditing, payment of payroll, tax matters, systems and procedures, and administers procedures of the same.
Job Competencies:
• Financial monitoring & analysis/ Decision making/ Communication & Interpersonal skills/ Trustworthiness & Ethics/ Cost management & Internal controls assessment.
Key Performance Indicators:
• Accurate budgeting and financial planning.
• Financial system accuracy.
• Inventory Variances.
• F&B Cost Variances vs. Recipes.