Stefans Oupa Mkhawane
Roodepoort
Summary
Dynamic Accountant with extensive experience, specializing in financial accounting, management accounting and budget adherence. Proven ability to analyze costs and mitigate overspending while fostering effective communication across departments. Skilled in IFRS compliance and team leadership, driving financial success through strategic planning and insightful reporting
Overview
6
6
Languages
33
33
years of professional experience
Work History
Senior Accountant
Impala Platinum Limited
Rustenburg
10.2022 - Current
- Prepare monthly management accounts for the division and present to management.
- Ensure all budgets adhere to internal control procedures for budget documentation and are timeously compiled
- Prepare monthly rolling forecast and ensure that areas of concern are reflected in the financial forecast
- Ensure that cost recognition and reporting are in compliance with IFRS and management accounting principles
- Analysed costs and reported on variances, advising on mitigation steps for overspending
- Provide monthly feedback to Heads of Departments with regards to departmental costs and steps to be taken to ensure that costs are within the Business Plan and Forecast
- Implement Internal control procedures and ensure that all departments comply
- Co-ordinate the preparation of the service departments Business Plan and give guidance in order to produce the most accurate Business Plan
- Prepare Business Plan and Forecast presentation for the Executive Finance and CFO
- Provide Management Accounting service to all service departments in the Rustenburg operations, Impala Holdings and Head Office
- Monitor spending on CAPEX projects and renewals and ensure that spending is within planned costs
- Deliver reports clarifying cost drivers, enabling informed decision-making for management
- Provide guidance to Service Accountant within the service costing and ensure that their roles and responsibilities are clearly defined
- Enhanced communication between service costing section and service departments
- Resolve queries from Head Office and Departments
- Ensure that strategic objectives of the business are reflected in the Business Plan and in the manner of spending
- Report on Social Labour Plan (SLP) of the overall Impala Platinum operations and their subsidiaries
- Preparation of ESG presentation and report on company Social Labour Plan (SLP) spend
- Conducted mining operations to extract valuable minerals from the earth.
Cost Accountant
Umsimbithi Mining
Carolina, Mpumalanga
02.2022 - 09.2022
- Ensuring that costs are allocated correctly in the general ledger
- Prepare monthly management accounts timeously (provide detail reasons for the variance movement for Conducted mining operations to extract resources efficiently costs, processing cost and related overheads) monthly budget vs actual report
- Perform volume and price variance analysis for all costs
- Prepare month end inventory adjustments based on stock valuation reports
- Attend month end stock reconciliation meeting to understand the volumes and adjustments from the stock surveyors
- Prepare the volume and price variance analysis for the Diesel and Explosives
- Prepare and maintain a diesel dispensing schedule for all mining equipment's for SARS rebates calculation
- Fixed assets and management control
- Provided analysis input into the qualities and diesel caps
- Provide support in the procurement process by ensuring correct product codes used on purchase requisition
- Attend weekly meetings
- Update the monthly forecast
- Highlight recoveries that need to be done from all third parties including shared costs
- Involvement in preparation and presentation of yearly budgets with inputs from the onsite management
- Provide input for the Life of Mine calculations relating to costing
- Have thorough understanding of contracts operating on the mine to ensure that costs are charged as per the signed agreements
- Mining
Cost and Management Accountant
Foskor Mining
Phalaborwa
11.2017 - 01.2022
- Compile annual budgets and present to EXCO and prepare quarterly forecasts for the mining division
- Ensure all budgets adhere to internal control procedures for budget documentation and are timeously compiled
- Prepare monthly management accounts for the division and present to management
- Provide comprehensive analysis of production and sales margins and report on margins and profitability
- Advise management on cost implications of different product mixes in order to facilitate optimisation of product mixes
- Ensure all cost accounting procedures adhere to internal control procedures and provide timeous and accurate feedback to facilitate effective departmental performance
- Oversee the division' CAPEX management process
- Follow up and report on post project status to confirm the success of the project and of CAPEX expenditure
- Perform accounting for production and stocks
- Analyse and report on all financial aspects of production
- Evaluate and control inventories by conducting monthly stock take of raw materials and finished products
- Perform monthly financial analysis as required by Corporate Finance
- Ensure on-going product costing by way of product cost model reviews and updates and provide information to marketing to facilitate their negotiation on sales
- Identify, monitor and report on production yields and variances
- Ensure overhead cost allocations are based on activity-based costing
- Determine overhead cost allocation per ton per plant to facilitate optimum production performance
- Analyse variance by cost center and produce variance reports
- Attend variance analysis meetings with departmental managers to obtain their feedback
- Ensure the integrity of the Financial Information Systems (JDE)
- Participate in the implementation of Business systems
- Ensure effective control of modifications and updates to costing budgeting and monthly accounts module
- Ensure effective staff Management
- Attend weekly meetings with Senior Management teams and give financial feedback
- Mining
Management Accountant
Tiger Brands (Pty) Ltd
Randfontein
03.2017 - 10.2017
- Oversee and Management of stock returns and damages
- Detailed analysis of stock variances on a monthly basis after stock take
- Ensure that site accruals are timeously raised and reported on
- Preparation, Planning and co-ordination of all consolidated forecasts, budgets and strategic information
- Analysis and interpretation of consolidated monthly results
- Co-ordination of category performance management through preparation of Milling scorecard
- Provide commercial support for ad-hoc projects
- Planning and co-ordination of all monthly stock counts and month-end and year-end processes
- Monitor PO's and make sure they raised to correct cost centers
- Monthly Site Expenses analysis and Expense Variance reporting and commentaries
- Manage BOM's
- Manage Site CAPEX reporting and spend
- Make sure internal controls are adhered to
- Ensure a 95% Internal Control Audit score
- Ensure that the three sub-ordinates are adequately trained and contribute meaningfully to the site financial success
- FMCG
Financial Manager
Lucy Electric South Africa (Pty) Ltd
01.2013 - 03.2017
- Annual Group Statutory Accounts and Returns
- Achieve all deadlines included in the year-end reporting timetable that is circulated by Group Finance each year
- Review all figures and obtain an understanding of the numbers prior to submission
- Forecasting, Budgeting and Planning
- Ensure that all reporting deadlines for Forecasting and Budgeting are achieved
- Attend annual budget review meetings held in Dubai and UK to present the numbers to Group Management and deal with issues raised in the review meetings
- Provide inputs to any medium or long-term plans being put together by Group Finance
- Management of Resources
- Review Cash Requirements: Keep up to date Cash Flow for the business unit to identify forthcoming issues regarding the funding of the unit
- Co-ordination with Group Treasury: Ensure that Group Treasury are aware of any significant issues that will affect the funding of the business, especially any forthcoming increases to loan amounts, repayments of loans, transfer to term deposits or proposed dividends
- Payment of third-party creditors: Ensure that all third-party creditors are paid within the agreed terms
- Credit Control: Ensure that all debts are collected in line with agreed payment terms
- Capital Applications: Ensure that all capital applications are completed accurately and in a timely manner
- Overseeing the purchase order process on Pastel and authorization thereof
- Review weekly logistic reports which keep track of stock items on order
- Overseeing the monthly inventory count and ensure that variances are cleared
- Foreign Supplier Payment
- Liase with the bank forex division with regard to forward covers for overseas suppliers
- Ensure that best forex rates are obtained before overseas payment could be made
- Monthly Group Reporting
- Submission of Weekly sales, Flash Reporting, Monthly management accounts and financial reviews
- Perform Balance Sheet Reconciliations on a monthly basis and ensure that they are reviewed
- Other responsibilities
- Authorisation Matrix: Maintaining all authorization matrices of the business
- Support the local General Manager: Providing support to the local General Manager in all areas where such support is required
- Provide information to Group Finance and Group Treasury: Providing information requested on an ad-hoc basis
- Internal Audit: Provide information and support to the internal audit team as required
- Manufacture and distributors of Electric Switchgears and automation solutions
Financial Accountant
Avery Dennison SA (Pty) Ltd
08.2006 - 01.2013
- Controllership over C16 (Inter-company balances)
- Reconciliation of inter-company balances on a monthly basis and achievement of deadlines
- Ensure that inter-company invoices are processed and paid within the policies set forth by the Financial Handbook of the company and other corporate requirements
- Follow up on outstanding inter-company invoices and ensure that they are timeously resolved
- Controllership over General Ledger reconciliations
- Ensuring that all General Ledger reconciliations are prepared and authorized on a monthly basis before deadlines
- Ensuring that reconciling items are investigated and timeously resolved before next month-end
- Maintain competent staff composition
- Through training, support and leadership, ensure that staff composition of the areas under my supervision is competent
- Controllership over foreign payables (3rd party and inter-company)
- All foreign creditors' invoices processed up to date, cases of delayed processing are followed up and timeously resolved
- Ensure that VAT and other statutory returns (SARB and Stats SA) are prepared and submitted before due dates
- Implementation and monitoring of recommendation
- Achievement of SOX deadlines
- Monthly Financial Reporting
- Make contribution towards the preparation of the monthly reporting and ensure that they are of the highest standard, accurate and that information is provided within the set deadlines
- Cash Flow Forecasting
- Preparation and Submission of Monthly Cash Flow projections to Corporate Finance in USA
- Foreign Exchange Hedging
- Preparation of Balance Sheet and Cash Flow Exposure projections and submission to Corporate
- Label and Packaging Materials offers a wide range of Fasson branded pressure-sensitive and self-adhesive materials
Assistant Accountant
Carnaud Metalbox Food SA (Pty) Ltd
08.2004 - 07.2006
- Close off month-end in SUN/Fourth Shift
- Ensure that all information is processed prior to month-end cut-off
- Investigate any discrepancies on points above and obtain authorization from Financial Manager to make necessary adjustments
- Check correct allocations of accounts and cost centers
- Ensure that discrepancies, unusual features for improvement to the accounting system and make recommendations to the Financial Manager
- Supervising and monitoring the activities of the Accounts Clerk
- Assist Financial Manager with the gathering of information for and preparation of Costing and Budgets
- FMCG
Audit Supervisor/Assistant Manager
Office of the Auditor-General of South Africa
01.2002 - 08.2004
- Compile and assist with compilation of the Strategic Audit Plan of auditees
- Execution of audits in line with Approved plan, Office's audit manual and SAAS
- Draft of relevant audit report/Management Letter
- Evaluation of Trainee Accountants' Performance for Salary Increases
- Public Sector Auditing
Auditor
Office of the Auditor-General of South Africa
07.2000 - 12.2001
- Public Sector Auditing
- Public Sector Auditing
Assistant Auditor
Office of the Auditor-General of South Africa
12.1999 - 06.2000
- Public Sector Auditing
- Public Sector Auditing
Part-time Teaching
Kgahlanong Senior Secondary School
Steelpoort, Limpopo Province
06.1993 - 12.1993
Education
Postgraduate Certificate in Management -
University of Reading
UK12-2018
Postgraduate Diploma in Accounting Science - Advanced Financial Accounting, Advanced Taxation, Advanced Auditing, Advanced Management Accounting - Advanced Financial Accounting, Advanced Taxation, Advanced Auditing, Advanced Management Accounting
University of South Africa (UNISA)
12-2001
BACHELOR OF COMMERCE - Accounting
University of Cape Town (UCT)
Cape Town12-1998
University entrance bridging program -
Leaf College
Rondebosch, Cape Town12-1995
MATRICULATED WITH EXEMPTION - Sepedi, Afrikaans, English, Mathematics, Economics, Accounting
Kgahlanong Senior Secondary School
Steelpoort, Mpumalanga12-1992
License - Associate General Accountant -AGA(SA) -
South African Institute of Chartered Accountants (SAICA)
06-2024
Skills
- Annual Budgeting
- Financial forecasting
- Variance Analysis
- Cost Analysis
- Tax calculation
- Preparation of Tax Packs
- Month-end reporting
- Profit and Loss analysis
- Profit margin analysis
- Monthly stock count and Variance analysis
Language
English
Afrikaans
XiTsonga
Sepedi
Setswana
Swati
Personal Information
ID Number: 7308255333080
Custom
- Mr. Johan Maree, Former Financial Controller, Avery Dennison SA (Pty) Ltd, (011) 249 -5719
- Mrs. Pravika Govan, Former Compliance Accountant/Colleague, Avery Dennison SA (Pty) Ltd, 083 289 0093
- Mr. Thulani Sithole, Former Financial Manager, Tiger Brands, 060 422 4104
Timeline
Senior Accountant
Impala Platinum Limited
10.2022 - Current
Cost Accountant
Umsimbithi Mining
02.2022 - 09.2022
Cost and Management Accountant
Foskor Mining
11.2017 - 01.2022
Management Accountant
Tiger Brands (Pty) Ltd
03.2017 - 10.2017
Financial Manager
Lucy Electric South Africa (Pty) Ltd
01.2013 - 03.2017
Financial Accountant
Avery Dennison SA (Pty) Ltd
08.2006 - 01.2013
Assistant Accountant
Carnaud Metalbox Food SA (Pty) Ltd
08.2004 - 07.2006
Audit Supervisor/Assistant Manager
Office of the Auditor-General of South Africa
01.2002 - 08.2004
Auditor
Office of the Auditor-General of South Africa
07.2000 - 12.2001
Assistant Auditor
Office of the Auditor-General of South Africa
12.1999 - 06.2000
Part-time Teaching
Kgahlanong Senior Secondary School
06.1993 - 12.1993
Postgraduate Certificate in Management -
University of Reading
Postgraduate Diploma in Accounting Science - Advanced Financial Accounting, Advanced Taxation, Advanced Auditing, Advanced Management Accounting - Advanced Financial Accounting, Advanced Taxation, Advanced Auditing, Advanced Management Accounting
University of South Africa (UNISA)
BACHELOR OF COMMERCE - Accounting
University of Cape Town (UCT)
University entrance bridging program -
Leaf College
MATRICULATED WITH EXEMPTION - Sepedi, Afrikaans, English, Mathematics, Economics, Accounting
Kgahlanong Senior Secondary School
License - Associate General Accountant -AGA(SA) -
South African Institute of Chartered Accountants (SAICA)