Cost Controller
Petrofac
Total years of experience :30 years, 0 Months
Providing financial support to BU's, driving profitability growth, identify cost saving opportunities, establish and maintain internal controls.
•Cost management, operational accounting and control, revenue management and implementation of internal controls.
•Analyse cost trends, develop and review cost forecasts.
•Analyses actual costs and preparing periodic reports comparing standard costs to actual costs.
•Project costing: Planning, Studying, and collecting data to determine costs of business activity.
•Analysing data collected and recording results.
•Recording cost information for use in controlling expenditures.
•Analysing audits of costs and preparing reports.
•Providing management with reports specifying and comparing factors affecting prices and profitability of products or services.
•Maintaining Cost Accounting System.
•Assisting in Month end close of the General Ledger.
•Conducts physical inventories and monitors cycle count program.
•Reconciliation of inventories.
•Assessing supplier profiles and analysing offers.
•Manage relationships with key suppliers to maintain quality of goods, timely delivery and compliance to terms of contracts.
Reason for leaving:
Petrofac contract with BP was not renewed.
Record financial transactions for projects and departments.
Reconcile expenditure with approved budgets as part of job costing.
Create projects and departmental operational and capital budgets.
Analyse financial performance and forecast longer term horizons.
Recommend methods and strategies for cutting cost.
Maintain records and support auditing efforts.
Advise company and/or department management on financial decisions.
Make upper-level strategy recommendations based on financials.
Supervise Accounting Staff.
Manage General Ledger.
Provide insight into business performance.
Construct data accumulation systems for a cost accounting system.
Create and review the controls needed for data accumulation and reporting systems.
Construct data accumulation systems for a cost accounting system.
Create and review the controls needed for data accumulation and reporting systems.
Coordinate physical inventory counts and cycle counts.
Investigate cycle counting variances and resolve issues.
Update standard costs in the bill of materials.
Review standard and actual costs for inaccuracies.
Validate the cost of goods sold as part of the month-end close.
Accumulate and apply overhead costs as required by generally accepted accounting principles.
Conduct ongoing process constraint analyses.
Report on breakeven points by products and cost/ work centres.
Report on margins by product and division.
Report on periodic variances and their causes, focusing in particular on spending variances.
Analyse capital budgeting requests.
Perform cost accumulation tasks as a member of the target costing group.
Support Project Engineers in developing, reviewing and bench marking of Conceptual and Baseline Estimates and contracts cost control, as well as the compilation and co-ordination of the 5 Year Business plan, as well as the annual CAPEX and OPEX Budgets for Onshore Facilities and Infrastructure Projects.
Develop and maintain Cost Reporting Systems in line with cost estimates and approved budgets.
Manage and co-ordinate the AFE process, as well as prepare monthly reports regarding AFE status.
Produce expenditure and cash flow analysis for annual budgets for all projects and departments.
Collects and analyses data for tracking purchase order and subcontract commitments and expenditures to funding limitations.
Manage the Risk and Opportunity process, including Quantitative Analysis.
Liaise with remotely located offices to ensure correct data used for forecasting.
Co-ordinate with others in the ongoing enhancement of SAP and project controls software tools, Kildrummy Cost Manager and Time writing System.
Review, update and maintain the standard costing system.
Obtain detailed understanding of system entries and follow up on inconsistent / incorrect system issue.
Develop and maintain daily, weekly and monthly reports to provide accurate and detailed insight into the company’s material, labour and overhead costs (including tool store and consumables) and to present these to all functional heads as well as to the management team.
Assist functional heads in identifying and highlighting cost inefficiencies and coaching / advising on ways to improve / overcome these.
Perform burden (overhead) studies as and when required but at least on an annual basis.
Participate in Engineering Change Management team activities and ensure that changes are correctly and timeously updated to the system as required.
Participate in project management as and when required.
Validate any cost savings (such as VA/VE or Purchasing) initiatives and impact on the financial result.
Review, analyse and report on input foreign exchange impacts as they relate to specific customer pricing agreements.
Tracking of negative margin reporting and implementing corrective action.
Preparation and input of monthly Margin Report.
Ad-hoc tasks related to cost measurement and controlling functions.
Manage the financial accounting and Cost accounting of all related Project expenditure.
•Assists Contract manager with budgeting and for re-budgeting during the contract and make site management aware of budget constraints.
•Management of the Fixed Assets Register and Contract Debtors and Creditors.
•Management of Plant and Equipment costs and Site Systems and Controls to meet project and company requirements.
•Material management according to company policies and procedures and Stock Control and reconciliations on a daily basis.
•Site Cost Reconciliation.
•Implement and maintain site administration systems.
•Management of Project Risk Register and communication of identified risks.
•Manage the Expenditures in relation to budgets and project timelines by means of project management, financial management, cost tracking and cost control and provide guidance and assistance to project managers.
•Support and Assist Project Managers by means of variance reporting, actual cost vs Budget and monitor and ensures compliance to all contract deadlines, weekly and monthly.
•Design and Implement effective and efficient procedures, processes and controls into the new Billing - and ERP Financial System.
•Budgetary Controls and preparation of Analysis Reports to ensure actual performance versus agreed targets, what if scenario, sensitivity analysis.
•Experience in costing for strategic business initiatives, programs and projects, product costing, production decision.
•Reconcile all process losses and gains, scrap and rejects, reporting reasons for the entries
•Control cost valuations
•Be involved in managing the inventory counts, outcomes and financial impacts with Supply Chain
•Capitalise or expense the projects costs on completion, prepare a monthly schedule summarising these items
Reason for leaving:
Completion of Contract
Feasibility studies by means of Business Case and Strategic Financial Planning models and Compilation and co-ordination of Capital - and Operational Budgets,
•Manage the General Ledger and Costing of all project related expenditure, as well as systems and controls in respect of site control,
•Manage the full financial function for National Network Operation Centre and Icare / Flowthru, as well as to compile, verify and analyse financial data and to provide assistance to the Project Managers by means of Financial Management, Cost Control and Cost Tracking during the life cycle of the project and evaluation of Financial Data and estimates during bi-lateral negotiations with suppliers,
•Manage and reconcile the Supply Chain Management, which included procurement, stock control and materials management,
•Manage and maintenance of the Asset Register and Project Debtors and Creditors, wages and allocate cost centres,
•Prepare Management Reports such as Cash Flow Statements, Budget Control, Financial Forecasts and Spending Plans, Project Cost, - Variance and - Control reports,
•Performing audits on the organizational and functional activities of project related activities during implementation in the Regions,
•Providing financial training, guidance and assistance to the operational personnel.
•Manage the performance of subordinates in accordance with performance management - and company disciplinary codes.
Reason for leaving:
No prospect of promotion
Internal auditing 4 Financial management 4 - module a Advanced management communication skills 2 Information systems audit 4 Cost and Management accounting 3 Financial accounting 4 Research methodology Co-operative education Financial management 4 - module b International Law
Third Year: Internal auditing 3 Statistics 2 Cost and Management Accounting 2 Business information systems 2 Financial accounting 3 Corporate procedures 2 Taxation 2 Second Year: Internal auditing 2 Statistics 1 Cost and Management Accounting 1 Business information systems 1 Financial accounting 2 Corporate procedures 1 Taxation 1 First Year 1: Internal auditing 1 Mercantile Law Company Law Financial accounting 1 Internal Controls
First year subjects: Financial Accounting 1 Business Calculations Communication Cost Accounting 1 Commercial Law for Accountants Entrepreneurial Skills Economics Business Information Systems Second year subjects: Financial Accounting 2 Commercial Law for Accountants Cost Accounting 2 Business Information Systems 2 Auditing 1 Taxation 1 Third year subjects: Financial Accounting 3 Management Accounting 3 Organisational Management Corporate Procedures Taxation 2 Business Statistics
Afrikaans (First Language) Higher Grade English (Second Language) Higher Grade Mathematics Lower Grade Science Lower Grade History Higher Grade Accountancy Higher grade