ACCOUNTANT COSTING📣 Job Ad

About alfanar and the Role

alfanar is seeking a full-time Costing Accountant to join its team in Riyadh. The primary purpose of this role is to perform manufacturing cost accounting, inventory accounting, and cost analysis. The successful candidate will ensure accurate financial reporting and effective manufacturing cost control within the organization.

Key Responsibilities

The Costing Accountant will manage a range of activities critical to maintaining financial accuracy and optimizing cost structures. Key responsibilities include:

• Recording, reviewing, and validating manufacturing cost transactions.
• Supporting product costing activities and maintaining standard costs.
• Monitoring cost allocation across production orders and cost centers.
• Supporting inventory valuation, material consumption analysis, and stock movement validation.
• Analyzing various production variances and preparing detailed reports.
• Preparing regular reports on manufacturing performance and key cost indicators.
• Assisting with month-end and year-end closing activities related to manufacturing costs.
• Ensuring compliance with costing policies, internal controls, and audit requirements.

Manufacturing Cost Management

This position involves detailed oversight of manufacturing costs and related financial processes:

• Record, review, and validate manufacturing cost transactions for materials, labor, overheads, scrap, rework, and production orders.
• Support product costing activities, including standard cost maintenance, Bill of Material (BOM) costing, routing cost validation, and cost roll-up.
• Monitor cost allocation to production orders, cost centers, and manufacturing activities.
• Support monthly cost closing activities to ensure accurate cost reflection in financial records.

Inventory Control and Performance Analysis

The role requires active involvement in inventory management and the analysis of production performance:

• Support inventory valuation, material consumption analysis, and stock movement validation.
• Review material usage against BOM and highlight abnormal consumption, wastage, or variance.
• Support inventory reconciliations between system records, production reports, and physical stock.
• Assist in cycle counts, stock takes, inventory adjustments, and related variance investigations.
• Analyze material, labor, overhead, scrap, rework, and underutilization variances.
• Prepare variance reports by product, production line, cost center, and manufacturing area.
• Coordinate with production, planning, warehouse, and engineering teams to understand variance drivers.
• Prepare regular reports on production cost, conversion cost, material cost, labor efficiency, overhead absorption, scrap, rework, and factory utilization.
• Support preparation of cost bridges, cost trend analysis, and manufacturing KPI dashboards.

Financial Closing and Compliance

The Costing Accountant plays a vital role in month-end closing procedures and ensuring adherence to financial controls and compliance standards:

• Support month-end and year-end closing activities related to manufacturing cost accounting.
• Validate production order settlement, cost center postings, inventory movements, and accruals.
• Prepare supporting schedules for manufacturing cost, inventory, and variance accounts.
• Follow approved costing policies, internal controls, Standard Operating Procedures (SOPs), and approval workflows.
• Support internal and external audit requirements related to inventory, costing, and manufacturing expenses.
• Maintain proper documentation for cost calculations, reconciliations, and variance explanations.
• Identify control gaps in manufacturing cost recording and escalate for corrective action.

Required Experience and Abilities

Candidates for this role should demonstrate a strong foundation in costing principles and possess the following qualifications and abilities:

• A minimum of 2 to 5 years of relevant experience in costing or manufacturing accounting.
• Ability to acquire and apply updated soft and technical skills relevant to the job.
• Proven capability to perform planned activities to meet operational and development targets, utilizing resources effectively within efficient cost and timeframes.
• Strong problem-solving skills, with the ability to resolve issues and escalate complex operational matters when necessary.
• Commitment to quality, including developing effective quality control and process specifications.
• A proactive approach to business process improvements, coordinating written systems, policies, procedures, and seeking automation opportunities.
• Adherence to relevant company policies, procedures, and work instructions.
• Awareness and compliance with health, safety, and environmental management procedures within the defined work area.