Accountant, Refines, Job Opportunity at Astron Energy (Pty) Ltd

Accountant, Refines, Job Opportunity at Astron Energy (Pty) Ltd

Astron Energy (Pty) Ltd, Accountant, Refines

The Accountant-Refines is responsible to manage inventory valuations, research any abnormalities in terms of individual material rates at all terminals in both South Africa and Botswana. Ensure to take appropriate correction actions for any product rate deviations in support of accurate reporting of Cost of Goods Sold (COGS) and Balance sheet inventory valuation. The role is also expected to work closely with Lubes Manufacturing Plant (LMP) to ensure appropriate valuation of lubricants imports and also have accountability for overall slate management in both countries.

Financial Perspective

  • Process and ensure cost of sales entries are accurate and correctly valued for gross margin reporting. Calculate and process monthly over/under recoveries journals to P&L and Balance sheet.
  • Ensure both internal and external audit deliverables are attended to within specified timeline to avoid potential additional cost overruns.

Customer Perspective

  • Provide monthly financial data to key stakeholders in accordance to agreed deadlines
  • Turnaround time – plan and exceed customer deadline expectation with at least one day per request. No delays or overdue requests

Internal Processes

  • Monitor and adjust the merchandise inventory cost ledger rates
  • Daily monitor moving average prices for all refined products.
  • Ensure that the moving average price (MAP) is correctly stated in both local and USD currencies.
  • Process necessary stock value adjustments and correcting journal entries to the required general ledger accounts.
  • Reconcile and adjust for any differences between the inventory sub ledger and the inventory control accounts.
  • Calculate and process the slate over/under recoveries
  • Monthly extract sales volumes for designated segments and calculate the slate over/under recoveries for both South Africa & Botswana.
  • Process the necessary general ledger entries to Profit & Loss and Balance sheet account.
  • Monthly submit and reconcile the South African slate volume and value balance with South African Petroleum Industry Association (SAPIA).
  •  Submit monthly slate volume and reports to Botswana government.
  •  Engaged external auditors and arrange audit certificate for slate payments to Botswana government and for South Africa to SAPIA on request.
  • Ensure, when slate levy is effective and operational in South Africa, that correct payment is received and allocated to appropriate general ledger account.
  • Monthly liaise with ST&O to validate slate volumes in terms of material, over/under recovery rates, value and split period, if applicable.
  • Extract and prepare loss/gain reports
  • Circulate to management and other Business Units for review and resolution of abnormal loss/gain postings. Ensure journal corrections are processed if loss/gains need to be reversed or adjusted.
  • LMP Invoice Verification process
  • Perform timely invoice verification for Base oil Imports.
  • Liaise with LMP to ensure 3rd Party invoices are processed by COB WD0.
  • Liaise with LMP to process Accruals where documentation for month-end Invoice verification will not be received by month end close, reverse accruals in the new month and ensure actuals are processed.
  • Allocate Wharfage charges from Vendor to GL Account for all relevant imports for the month.
  • Monthly Insurance Report to be prepared, sent for Review by Costing Manager and submitted to Glencore London by WD6.
  • Perform general ledger account reconciliations for all accounts within Area of Responsibility.
  • Regularly updates procedural documentation in line with process changes and new general ledger accounts requirements.

People Management

  • Participate and complete agreed annual training requirements – internal and external courses.
  • Present and participate in knowledge sharing workshops
  • Provides coaching and guidance to team members supporting costing deliverables and processes.
  • Provide support to Senior Accountant and Analyst: Refining Finance for Goods Receipts and Purchase Order processing for Refinery Imports
  • Ensure alignment to new and improved system deployments, revised business process improvements, etc.

Professional Qualification and Certifications: University degree in Finance/(Cost) Accounting is essential

Accountant – Refines Job Vacancy at Astron Energy (Pty) Ltd.

Work Experience:

  • Minimum of four years accounting experience
  • Good working knowledge of International Financial Reporting Standards (IFRS) accounting principles
  • SAP experience essential

Knowledge and skills:

  • Strong financial and analytical skills.
  • Good communication skills, both written and verbal
  • Working knowledge of SAP
  • Attention to detail and drive for results
  • High level analytical ability and problem solving skills

Application deadline:

  • 24 October 2022

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