Cost Accountant📣 Job Ad

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.

Join the Team at 360Solutions!
We are looking for a dedicated Cost Accountant to manage and analyze financial costs, supporting strategic managerial decisions.

Key Responsibilities:

• Prepare and analyze monthly, quarterly, and annual cost reports while monitoring variances between actual and expected costs.
• Determine product and service costs and evaluate financial performance for departments or projects.
• Develop and maintain cost accounting systems ensuring compliance with internal policies and financial standards.
• Collaborate with various departments to gather data, analyze costs, and recommend cost-saving measures.
• Assist in preparing annual budgets and financial forecasts, tracking expenses to ensure alignment with strategic objectives.
• Conduct regular audits of inventory and production costs, identify discrepancies, and implement corrective actions.
• Support the preparation of financial statements and reports, ensuring all cost-related data is accurately reflected.

Required Skills:

• Strong knowledge of cost accounting principles, methods, and practices.
• Proficiency in financial reporting, budgeting, and forecasting.
• Experience with accounting software and ERP systems (*, SAP, Oracle, or similar).
• Strong analytical and problem-solving skills to interpret financial data and identify cost-saving opportunities.
• Ability to conduct variance analysis and cost control assessments.

Required Qualifications:

• Bachelor’s degree in Accounting, Finance, or related field.
• 2–3 years of hands-on experience in cost accounting, preferably in industrial, manufacturing, or production sectors.
• SOCPA certification.
• Fluency in Arabic and English (both written and spoken).