Stock Accountant

About the Role

The Stock Accountant is responsible for maintaining accurate and up-to-date records of all inventory movements within the manufacturing facility in Probolinggo. This role serves as the financial custodian of raw materials, work-in-progress, and finished goods, ensuring that stock valuations, cost allocations, and variance analyses comply with Indonesian Financial Accounting Standards (PSAK) and internal management reporting requirements. The incumbent will work closely with the production, warehouse, and procurement teams to uphold inventory integrity across the apparel/textile value chain.

Key Responsibilities

A. Inventory Accounting & Valuation

• Maintain perpetual inventory records for raw materials (fabric, thread, accessories), WIP, and finished goods in line with PSAK 14 (Inventories).
• Perform periodic and cycle-count stock valuations using the Weighted Average Cost (WAC) method, or as prescribed by group accounting policy.
• Reconcile physical stock counts with system records (ERP/WMS) and investigate and resolve variances in a timely manner.
• Ensure accurate Bill of Materials (BOM) costing and standard cost updates for all SKUs and production orders.

B. Cost Accounting & Analysis

• Prepare and monitor Cost of Goods Manufactured (COGM) and Cost of Goods Sold (COGS) schedules on a monthly basis.
• Conduct production cost variance analysis (material usage variance, labour efficiency variance, overhead absorption variance) and report findings to management.
• Support standard costing reviews for new product lines, seasonal collections, and change-of-specification items.
• Assist in preparation of cost build-ups for export orders, local tenders, and private-label manufacturing contracts.

C. Financial Reporting & Compliance

• Prepare monthly inventory schedules and aging reports for submission to the Finance Manager and Group Financial Controller.
• Ensure inventory disclosures in standalone and consolidated financial statements comply with PSAK standards (particularly PSAK 14).
• Support the external audit process (including Deloitte group audit cycles) by preparing schedules, reconciliations, and audit evidence related to inventory and cost of sales.
• Maintain supporting documentation for all adjustments, write-downs, and NRV (Net Realisable Value) assessments.

D. Internal Controls & Governance

• Enforce and monitor adherence to stock movement authorisation procedures, including goods receipts, production issuances, returns, and inter-plant transfers.
• Implement and maintain a robust system of internal controls over inventory to prevent pilferage, obsolescence, and recording errors.
• Liaise with warehouse and production supervisors to ensure timely and accurate documentation of all stock transactions.
• Identify slow-moving, obsolete, or damaged inventory and recommend appropriate provisions in line with group policy.

E. System & Process Improvement

• Drive improvements in inventory tracking processes, leveraging ERP capabilities (SAP, Oracle, or equivalent) to reduce manual intervention and improve data accuracy.
• Collaborate with IT and operations teams on system enhancements related to stock management modules.
• Develop and maintain standard operating procedures (SOPs) for all stock accounting processes.

Qualifications

Mandatory Qualifications

• Holds the Certified Accounting Professional (CAP) or Chartered Accountant (CA) designation issued by the Institut Akuntan Publik Indonesia (IAPI) or Institut Akuntan Manajemen Indonesia (IAMI); OR
• Holds the Qualified Internal Auditor (QIA) or Management Accountant (CMA equivalent) recognised by Indonesian professional accounting bodies; AND
• Has demonstrable proficiency in cost accounting methodology consistent with Indonesian Cost Accounting Standards and management accounting frameworks.
• Prior experience in the apparel, textile, garment manufacturing, or related fashion supply chain industry.
• Languages: Bahasa Indonesia - Fluent (mandatory) and English - Functional proficiency required for reading technical standards, ERP documentation, and group-level reporting.

Experience & Educational Background

• Minimum 3–5 years of hands-on experience in inventory/stock accounting, cost accounting, or management accounting roles.
• Bachelor's degree (S1) in Accounting, Finance, or a closely related discipline from an accredited Indonesian or overseas university.
• Additional certifications in supply chain finance, ERP, or PSAK are advantageous.

Technical Qualifications

• Strong command of PSAK 14 (Inventories) and working knowledge of other relevant PSAK standards.
• Proficiency in cost accounting techniques: standard costing, job order costing, process costing, absorption costing.
• Advanced Microsoft Excel skills (pivot tables, VLOOKUP/XLOOKUP, data modelling).
• Solid understanding of production planning cycles, BOM structures, and manufacturing overhead allocation in apparel/textile contexts.
• Ability to prepare and present management reports and variance commentary in Bahasa Indonesia and English.