Cost Accountant

Job Summary

• To ensure the inventory items and services which are bought and used in providing guests services and facilities are stored and used in the controlled manner and according to accounting principles.
• To check the data entered by Materials Management employees and to correct where necessary.
• To amend the micros data base as requested & approved by proper authorities.
• To prepare daily the Comparison Report on Food & Beverage Actual vs. Potential costs / sales. (Applicable to all free standing kitchens/restaurants after 3 months of grand opening)
• To reconcile the cost of all officer and entertainment checks and apply credit to the respective departments.
• To prepare analysis on General Stores issues such as guest supplies against budget.
• To verify the accuracy of recipes for the outlets and kitchens for the purpose of inventory control and potential costing.
• To maintain records of inventory transactions which cannot be tracked through the system such as banquet events, cocktails and buffets.
• To audit inventory transactions and make adjustments when necessary.
• Provide an effective auditing system for the activities of the Materials Management Division.
• Provide a summary of the costs required by various people in the Accounting and Control Division to prepare daily and monthly reports.
• Provide Heads of Departments with the cost figures necessary for them to operate their individual profit centre profitably.
• Provide a system of monitoring the data input by operation level personnel.
• To compare details of quantities, unit costs, etc., on regular purchase orders to those on authorized purchase requests.
• To audit prices and quantity variances as per daily Receiving Variance Report.
• To collate and journalize month-end figures.
• To attend month end and other stocktaking activities in all Food & Beverage and general areas.
• Reconcile and obtain explanation on variation and prepare Inventory Adjustment Authorization for the Director of Finance’s approval.
• To coordinate and assist in the inventory taking of operating equipment every three (3) months.
• To maintain and keep track of all the FF&E items of the hotel and to coordinate and assist in the inventory taking of FF&E every year.
• To have a full working knowledge and capability to supervise, correct and demonstrate all duties and tasks in the assigned Place of Work to the standard set.
• To be entirely flexible and adapt to rotate within the different sub departments of the Accounting & Finance Division.
• To spot check periodically internal purchase orders for Food & Beverage items against their appropriate market lists.
• To be fully conversant with all services and facilities offered by the hotel.
• To conduct market survey of different items so as to ensure that the prices paid by hotel should be below the market retail prices.
• To understand and audit the operating procedures (purchasing, receiving, store, preparation etc.) of Materials Management Division.
• To investigate reasons for spoilage issue forms and post through the system.

• To check on a scheduled basis:
  • Recipes
  • Butcher yield tables and standard pricing tables
  • Accuracy of units of measure and brand information at the receiving.
  • Controllable and non-controllable status of inventory item data.

• To spot check at random:
  • The contents of Minibar in unoccupied rooms
  • Units of measure at bar
  • The potential and actual costs of individual bars
  • The accuracy of outlet recipes and portions being served
  • VIP amenities and their respective conversion recipes
  • Garbage cans and their contents
  • Par stocks in outlets and stockrooms
  • Inventory on shelves compared with inventory recorded in the computer
• Market survey on food items being purchased
• The quality of Food & Beverage items being received to ensure that they match purchase specifications
• Inventory turnover
• Liquor handling procedures and the use of outlet labels
• To assist in the training of Materials Management personnel as part of the effort to build an efficient team and to take an active interest in their individual development and welfare.
• Pouring brand consumption
• To maintain organized files of all pertinent cost audit Operating Equipment and FF&E records.
• To be thoroughly familiar with the duties and responsibilities of Materials Receiving and Storing process and be able to train the employee up to the standards required.
• To assist in carrying out quarterly, bi-yearly, yearly inventory of operating equipment.