Cost Accountant at Newrest Nigeria EPZE

Newrest Nigeria EPZE is a specialist in out-of-home food service, it is the only major Catering company active in all Catering and related Hospitality segments: Airline Catering, Buy-on-Board, Duty-free on Board, Contract Catering, Remote Site and Support Services, Rail Catering, Airport and Motorway Retail Concession. With an employee base of over 29,500 employees world-wide in 57 countries, Newrest offers career opportunities within a Group that is constantly looking for new talents for our numerous subsidiaries spread out on five continents. Join Newrest to participate in an exciting entrepreneurial adventure offering unique career opportunities.

We are recruiting to fill the position below:

Job Title: Cost Accountant

Location: Ikeja, Lagos
Employment Type: Full-time

Job Description

  • Conduct monthly cost reviews for all SKU’s, providing adequate documentation.
  • The position holder determines the actual cost associated with food production by looking at all expenses within the supply chain.
  • Validate the cost of food produced and sold as part of the month-end close
  • Conduct detailed analysis of all production cost accounts,
  • Investigate and follow-up with responsible parties to resolve erroneous postings and raising necessary journals to correct them.
  • Maintain up-to-date and accurate production data including raw materials consumed in production, production quantity, down time.
  • Generate variance analysis of planned vs. actual activity rates and standard prices on a monthly basis and investigate variances.
  • Plan standard product costs including cost of activities for each month based on approved actual values for the previous month.
  • Monthly detailed cost analysis.
  • Monthly tracking against targets
  • Ensure adequacy and completeness of all entries in the accounts with correct classification to job, location and cost cente
  • Accumulate and apply overhead costs as required by generally accepted accounting principles
  • The role involves budget preparation, profitability analysis, reviewing financial records, researching market rates for key business costs, providing data for stable budget developments, allocate indirect costs to internal processes, detailed analysis of suitable cost drivers and evaluation of potential business ventures.
  • Coordinate physical inventory counts and cycle counts
  • Investigate cycle counting variances and resolve issues
  • Update standard costs in the bill of materials
  • Work with the materials review board to locate and dispose of obsolete inventory.
  • Conduct ongoing process constraint analyses
  • Report on periodic variances and their causes, focusing on spending variances
  • Perform cost accumulation tasks as a member of the target costing group.
  • Recommend standard costs of food products
  • Establishing costs of business processes such as administration, labour, logistic, etc.
  • Recommending changes to the company’s processes and policies to reduce cost and maximize profit
  • Advising executives and upper management on appropriate costing based on financial data
  • Carrying out any responsibilityas may be assigned by the CFO.


  • Candidates should possess a Bachelor’s Degree / HND qualification with at least 7 years work experience.

Deadline: 30th September, 2022.

Method of Application
Interested and qualified candidates should send their CV to: using the Job Title as the subject of the mail.


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