Cost Accountant📣 Job Ad

Join Us as a Cost Accountant
We invite you to apply for an exciting opportunity at Alarji Contracting Company, where you will play a vital role in our Oil & Gas contracting operations. As a Cost Accountant, you will be responsible for cost control, budgeting, project cost analysis, and financial reporting to assist in effective project management and decision-making.
Key Responsibilities:

• Monitor and control project costs for Oil & Gas and contracting projects.
• Prepare cost estimates, budgets, and forecasts for new and ongoing projects.
• Analyse material, manpower, equipment, and subcontractor costs.
• Track project profitability, cost variances, and margin analysis.
• Prepare monthly cost reports and management information systems (MIS) for review.
• Coordinate with Project Managers, Procurement, and Site Teams to ensure accurate cost allocation.
• Support invoice verification, variation orders, and claims.
• Assist in audits and ensure compliance with company and client requirements.

Qualifications & Experience:

• Bachelor's degree in Accounting, Finance, or Commerce.
• Professional qualifications such as CMA / CIMA / ICMA / ACMA preferred.
• Minimum of 4-5 years of experience in Cost Accounting within the Oil & Gas or contracting industry.
• Strong knowledge of project costing, budgeting, and variance analysis.
• Proficiency in Excel and accounting/ERP systems.
• Familiarity with major Oil & Gas client projects is an advantage.

Skills & Competencies:

• Strong analytical and problem-solving skills.
• Attention to detail and accuracy.
• Ability to work under pressure and meet deadlines.
• Good communication and coordination skills.
• Strong understanding of contracting and project-based costing.

Location: Saudi Arabia

Join the Team as a Senior Cost Accountant at Arab Paper Manufacturing Co (WARAQ)
We are looking for a dedicated Senior Cost Accountant who will manage, analyze, and report on production costs to enhance our company's profitability. This role plays a crucial part in monitoring and managing costs associated with our paper recycling operations.

Main Responsibilities:

• Monitor and analyze production costs, including materials, labor, and overheads.
• Maintain and validate Bill of Materials (BOM) in the ERP system.
• Conduct periodic cost roll-ups and standard cost updates.
• Prepare detailed cost variance analysis reports.
• Reconcile inventory valuation for raw materials and finished goods.
• Support monthly and year-end closing activities.
• Analyze cost structures and propose improvements.
• Track scrap and rework costs with justifications.
• Assist with annual budgeting and forecasting.
• Perform profitability analysis by product and region.
• Support auditors with cost-related documentation.
• Prepare reports for pricing and tenders.
• Collaborate closely with the warehouse and production teams.

Candidate Requirements:

• Bachelor’s degree in Accounting, Finance, or Industrial Management.
• 5-8 years of relevant experience.
• Advanced skills in Microsoft Excel and costing tools.
• Strong knowledge of ERP systems, preferably Microsoft Dynamics AX.
• Excellent analytical skills and attention to detail.
• Proficiency in English.

Join us to contribute to our success in the paper recycling industry, driving efficiency and profitability.

Job Purpose
Tracking, analyzing, and managing cost expenditures and purchases. Ensure that the company maintains profitability by accurately assessing the costs involved in business. Provide detailed reports for cost control and efficiency improvements.

Key Accountability Areas

• Cost Calculation & Analysis:
  Develop, monitor, and update standard costs for materials, labor, and overhead. Analyze cost variances by comparing actual costs to standard costs and investigating discrepancies. Prepare detailed cost analysis reports to help management understand the financial performance of products or services.
• Budgeting & Forecasting:
  Collaborate with the finance and operations teams to prepare annual budgets and forecasts for costs. Provide periodic cost forecasts and conduct variance analysis to ensure the organization stays within budgetary constraints.
• Inventory Management:
  Monitor inventory levels and costs to ensure that inventory is accurately valued. Analyze inventory turnover and assess the impact of inventory management practices on overall cost performance.
• Reporting:
  Generate periodic cost reports, providing detailed insight into cost behavior, profit margins, and areas for improvement. Present cost trends, make recommendations on cost control measures, and assist in pricing decisions based on cost data.
• Internal Controls:
  Ensure that all cost-related processes adhere to company policies and financial regulations. Conduct internal audits to verify the accuracy and integrity of cost records and reports. Collaborate with the audit team to ensure that cost records comply with external regulations and audit standards.
• Compliance & Documentation:
  Ensure all costing records and reports are well-documented, easily accessible, and compliant with relevant accounting standards. Assist in the preparation of year-end financial statements by providing cost-related information.

Role Accountability

• HR Proficiency:
  Ability to obtain updated soft and technical skills related to the job.
• Delivery:
  Perform the planned activities to meet the operational and development targets as per delivery schedules. Utilize resources effectively to achieve objectives within efficient cost and time. Provide a periodic report formatted by detailing the deviation and execution of planned tasks.
• Problem-Solving:
  Solve any related problems arise and escalate any complex operational issues.
• Quality:
  Ensure quality requirements to develop effective quality control and processes including specifications for products or processes or related activities.
• Business Process Improvements:
  Coordinate well-defined written systems, policies, procedures, and seek automations opportunities as much as possible.
• Compliance:
  Comply with related policy and procedures and work instructions.
• Health, Safety, and Environment:
  Ensure compliance of relevant safety, quality, and environmental management procedures and controls within defined area of work activity to guarantee safety, legislative compliance, and delivery of high-quality products/services.

Academic Qualification
Bachelor Degree in Accounting and Finance
Work Experience
2 to 5 Years
Technical / Functional Competencies
Cost Accounting Best Practices, Cost Accounting Systems, Cost Analysis

Alfanar is a Saudi company with an international presence, primarily engaged in the manufacturing and trading of a wide variety of low, medium, and high voltage electrical products, in addition to its portfolio of conventional and renewable energy solutions, oil and gas, water treatment, infrastructure, technical services, and digital solutions.