Senior Inventory Accountant
On-siteMunich, Bavaria, Germany
Job Summary
Own monthly, quarterly, and annual financial reporting for inventory, cost of goods sold, and stock valuation, ensuring precise reconciliation with the general ledger. Prepare complex general ledger entries for standard cost adjustments, slow-moving and obsolete inventory provisions, and purchase price variance analysis. Reconcile physical inventory, sub-ledgers, and warehouse management systems to ERP financial modules, resolving discrepancies at source. Oversee cycle counting programmes and coordinate annual physical inventory counts with warehouse teams and external auditors. Manage the end-to-end costing process, investigating variances and recommending adjustments to protect margins. Act as the primary point of contact for external auditors, preparing robust audit working papers with a high degree of rigour. Evaluate and implement internal controls over inventory management on an ongoing basis.
Required Qualifications
- Hold a professional accounting qualification (ACCA, ACA, or equivalent)
- Have applied the qualification in manufacturing, retail, or distribution environments
- Have built and maintained inventory accounting processes end-to-end, including SLOB provisioning, PPV analysis, standard cost adjustments, and multi-location reconciliations
- Demonstrate a thorough understanding of IFRS and local GAAP as they apply to inventory valuation (IAS 2)
- Navigate advanced ERP systems (such as SAP, Oracle, or NetSuite) confidently
- Use Excel to manipulate and interrogate large data sets with precision
- Communicate complex financial findings clearly and credibly to non-finance stakeholders across operations, logistics, and procurement
- Manage competing priorities and time-sensitive close cycles, delivering accurate outputs consistently without compromising on rigour
Desired Qualifications
- Experience participating in ERP migrations, system upgrades, or the implementation of specialised modules (e.g., fixed asset, inventory tracking, or automated reconciliation tools)
- Familiarity with Robotic Process Automation (RPA) tools or basic scripting (like VBA or Python) to automate repetitive month-end tasks
- Experience working in a multi-entity, multi-currency environment with exposure to foreign exchange (FX) accounting and intercompany transactions
- A track record of identifying inefficiencies in financial workflows and successfully driving process-improvement initiatives (e.g., shortening the month-end close cycle)
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