About Lindiwe Nxumalo
Academic Level Degree Bachelor
Age 43 - 47 Years
Industry Forest, paper and packaging
I bring hands on experience in budgets and forecasts, variance analysis, creation and presentation of dashboards, financial reporting as well as production cost analysis that give insight to the executive to be able to execute strategic decisions.
Currently in my role as Cost & Management Accountant at Shave & Gibson, I have successfully implemented daily, weekly and monthly reporting models that have enabled the company to identify and rectify production inefficiencies thus increasing cost saving.
Additionally, I am able to identify and address other issues that have an impact on costs in the business. With my previous employer Nampak, I was able to identify the financial risk of excess ordering of Raw Materials on the cash flow of the business, and I was valued for my ability to deal with complex situations and come up with fresh solutions.
I have 10 years experience in the manufacturing sector at various positions, I possess excellent Management and Financial Accounting skills including Debtors, Creditors, Cash Book, Payroll, Budgets & Forecasts, Month-End procedures including Variance Analysis as well as Management Reporting.
2021 - Present
University of KwaZulu Natal
Honors Degree in progress, to be completed this year 2021
2019 - Present
CIMA Global - UKZN
Currently busy strategic level via UKZN to obtain eligibility to write Case Study exam to obtain the CIMA Professional Qualification.
2013 - 2017
Majors: Financial Accounting, Management Accounting, Auditing & Tax
2020 - Present
Shave & Gibson
Responsibilities • Analyse manufacturing costs, and prepare and present reports comparing standard to actual production costs, which significantly contributes to reducing production inefficiencies. • Assess adequate capturing of factory hours by operators through monitoring daily Run Time Analysis and weekly Man Hours reports, thus ensuring correct Time & Attendance and payroll hours. • Ensures accurate use of machines against works orders to eliminate discrepancies in machine run rates, which assists in identifying machines that not running as per standards. • Developed Post-Job Costing Analysis reporting model that is presented on a monthly to senior leadership. It illustrates amongst other things: Production Variances, Sales by Top 10 and Bottom 10 customers, Production Throughput. These assist senior leadership in making strategic decisions during customer price increases negotiations as well as improvements in factory performance. • Developed, and now manage a tracking tool for customer price increases, this is to assist senior leadership on a yearly basis when negotiating price increases to track what the trend has been in prior years in terms of proposed vs agreed prices. Achievements • Created a post-job costing analysis model, which addressed production variances, machine throughput and monthly payroll versus man hours • Introduced the monthly sales analysis model, which looked at the current year sales versus current year budget versus last year sales by customer, by product as well as the top 20 customers • Created a weekly analysis report of payroll hours versus production hours, to ensure that hours paid aligned with the hours spent in production • Created a daily run time analysis report highlighting incorrect machine usage for jobs thus ensuring the accuracy of production reports • Assisted the Operations Manager with redefining his monthly production report so as to be able to seamlessly convert it to PDF, thus saving him time
2019 - 2020
Responsibilities • Managing of accrual accounts to ensure that all costs and revenue are accounted for within the period in which they occur. • Verify the accuracy of supplier invoices to ensure that the correct procurement process was followed by the requisitioner and that the goods or services were indeed delivered. • Be a first point of check and approval of purchase orders prior to plant management’s approval to ensure that the correct procurement process was followed and all approvals and necessary checks were followed. • Creating and maintaining the plants costing module for finished goods and components (Bill of Materials), raw materials, spares, and consumables • Perform variance analysis of income statement transactions to ensure that all costs are accounted in the period in which they occurred, accurately and within budget. • Present to plant and regional management the plant’s financials and effects on profit or losses in the income statement against budget and prior year • Verify and complete monthly accounting procedures, i.e. ensure that all work tickets are completed and closed, then complete manufacturing journals. • Management of the stock take process of all plant’s inventory by ensuring that procedures are followed, variances are investigated and rectified in order to ensure that inventory is currently accounted for in the accounting records. • Ensure the correct recording of Fixed Assets by ensuring that the asset register is up to date, depreciation is correctly recorded at the end of each period. Achievements • Implemented an audit tracking tool which ensured that internal controls were complied with, which entailed a list of audit findings, the section it related to, the individual responsible, whether or not there was a company policy in place (and if not, created one or if there was one but it was not adhered to), ensuring that individuals adhered through tracking mechanisms • Addressed and corrected the raw material ordering process to ensure that the buyer obtained order quantities from supply chain, as opposed to ordering based on historical buying patterns
2018 - 2019
Responsibilities • Responsible for both commercial and logistics budgets and forecasts as well as cost saving initiatives. • Management of the budgeting, forecasting and three-year planning cycles while ensuring that budgets are aligned with the Illovo commercial strategic plans. • Analyse information provided by the sales and logistics team to establish accuracy, reasonability and completeness to ensure that the budget aligns with Illovo commercial strategic plan. • Perform monthly and annual variance analysis with commentary for consolidation to the group management accounting pack. • Facilitate monthly cost review meetings to present monthly costs v budget to budget holders and providing guidance on cost saving mechanisms. Achievements • Implemented a new chart of accounts for commercial and logistics which aligned with Illovo reporting requirements, assisting with saving time when reporting (in that the costs and budgets were grouped by Department and Division which allowed for the reports to be interactive, thus allowing the user to easily view information). • Implemented a budgeting tool for commercial and logistics that could integrate into the reporting model, thus saving 60% of time at the month- and year-end when preparing reports.
2014 - 2017
Responsibilities • Ensure that payroll deadlines are met for salaries and wages to be paid accurately and on time. • Ensure accurate and timeous payment of bonuses, performance bonuses and share dividends. • Perform monthly payroll reconciliations to GL. • Accurately and timeously prepare and process monthly journals and manual EFT payments. • Resolve individual queries with Human Resources and employees and third parties. Achievements • Managed and completed a project implementing a direct interface of payroll costs from one entity to three different linked entities, thus saving budget controllers three hours of their time at the month-end when processing manual journals, further eliminating errors.
2011 - 2014
Responsibilities • Ensure accurate capture of all mill factory employees working hours, leave and overtime. • Ensure sign off by shift foremen of all factory employee’s hours. • Grant Kronos access to new users and allocate correct user levels. • Provide user training to new users. • Resolve system related queries from other users, reset passwords as required. • Liaise with Kronos service provider to troubleshoot problems as required. • Prepare and capture monthly journals. • Prepare monthly debtor invoices and necessary journals. • Prepare monthly reconciliations. • Prepare payment vouchers for payment of creditors. • Calculation of accruals and journalising into cost centres. • Day to day supervision of the Wage Clerk. Achievements • Recommended and implemented training of foremen on the Time and Attendance system to ensure that they approve factory staff time sheets timeously thus eliminating payroll queries relating to short payments.