Cost and Financial Accountant

3M - Johannesburg, Gauteng

Job closed


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Cost and Financial Accountant

3M has a long-standing reputation as a company committed to innovation. We provide the freedom to explore and encourage curiosity and creativity. We gain new insight from diverse thinking, and take risks on new ideas. Here, you can apply your talent in bold ways that matter.

Job Description:

3M is searching for a Cost and Financial Accountant to join our 3M South Africa subsidiary.

Location: Woodmead, South Africa

Main responsibilities:

Supplies Inventory Costings to All 4 Business Groups (“BG”), Process Month End Close, provides Accounting and Reconciliation support to Treasury, AP, AR, and Inventory Depts as well as supporting both internal and external Audit.

  • On a need by need basis, supplies inventory costing/s to BG.

  • Understand Contract Pricing (“CP”) and Transfer Costs (“TC”) and how this impacts product costing and mark – up.

  • Perform COGS and Margin Analysis - by SKU - and analyze significant deviations from expected trend.

  • Perform Month End Corrections with Shared Services on COGS and CPE (“Contract Price Eliminations”).

  • Understand Department Cost Centers and Outsource Manufacturing and how this impacts Financial Results.

  • Understand and provide Bill of Material (“BOM”) support and analyze large deviations from expected trends.

  • Prepare monthly adjustment on Non-Working Inventory and ensure that Inventory reports are aligned to Balance Sheet.

  • Analyze Freight and Duty and ensures that this aligns to Vendor Invoices and Statements.

  • Work with Shared Services, Outsource Manufacturers, Planners and BGs on inventory and where needed provide action plans.

  • Work with Treasury and ensure all payments are approved and are accompanied with invoices and/or statements for release.

  • Analyze and Prepare Month End Journals such as Non-Trade Invoices, Fleet, Insurance, Travel and Prepayments.

  • Analyze, Investigate and Close Month End Variances on both P&L and Bal Sheet with the ability to resolve issues diplomatically and Promptly.

  • Prepare and reconcile all Balance Sheet Accounts ~ 50 items in total

  • Assist with Audit Requests (internal and external audit) and ensure that any actionable items are promptly resolved.

Qualifications and requirements:

  • Minimum Bachelor level university/college degree

  • A minimum of 5 years relevant working experience

  • Knowledge of theories and practices, typically applied to one or more disciplines, such as accounting, audit, treasury, etc.

  • Knowledge of Excel and corporate systems relevant to the assigned area of responsibility

  • Ability to communicate in written and spoken English.

Relocation is not authorized.

Please apply for the role sharing your most updated CV.

Apply now for this exciting opportunity with 3M. 3M is an Equal opportunity employer and as part of our recruitment strategy we aim to promote and develop from Internal. Let us work together to develop your career within 3M.

Learn more about 3M’s creative solutions to the world’s problems at or on Twitter @3M.

Please note: your application may not be considered if you do not provide your education and work history, either by: 1) uploading a resume, or 2) entering the information into the application fields directly.

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Min education
University attendance
Required experience
5 Years
Not defined
Not defined
Not defined



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