Cost Accountant📣 Job Ad

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).

Job Purpose:
This position exists to oversee and analyze cost expenditures and purchases efficiently, ensuring timely execution and adherence to quality standards in alignment with defined policies and procedures to achieve departmental operational plans and developments within a wider scope.

Key Accountability Areas:

• Actual Costing:
  • Coordinate with production monthly to finalize all actual activities and closing orders.
  • Check all actual data posted by production and make required adjustments.
  • Process period-end closing and posting (WIP, Variances, Unrealized cost, etc.).
  • Post all costing entries and provisions monthly.
  • Analyze and check results of period-end closing every month.
  • Check expenses monthly and make adjustments as required.
  • Manage settlement for investment internal orders to AUC and cost centers.
  • Design and update distribution cycles to allocate service and general cost center costs.
• Standard Costing:
  • Prepare planned costing data with agreed plant activity.
  • Enter standard costs and plant activity in the system and calculate the rate.
  • Maintain and update activity rates for production work centers.
  • Regularly check and adjust materials master and master data (BOM & Routing) and inform planning for required adjustments.
  • Run material costing to calculate planned cost.
  • Maintain production orders overhead percentage and upload overhead costs to production orders based on that maintained percentage.
• Costing & Controlling Analysis:
  • Analyze WIP and provide justification for major orders.
  • Analyze unrealized costs and provide justification for major orders.
  • Identify and analyze production, purchasing, and inventory variances.
  • Prepare master consumption reports with proper adjustments.
  • Monitor actual consumption and report irregular costs to management.
• Monthly Controlling ORM & Financial Reports:
  • Prepare monthly consumption and production masters.
  • Prepare costing statements per product type.
  • Prepare special costing reports and monitor actual vs. budget and standard costing reports with variance analysis.

HR Proficiency:
Ability to maintain updated technical skills related to this job.

Delivery:
Perform planned activities to meet operational targets as per delivery schedules, utilizing resources effectively. Provide periodic reports detailing deviations from planned tasks.

Problem-Solving:
Solve related problems and escalate complex operational issues.

Quality and Compliance:
Ensure quality standards and compliance with policies and procedures. Adhere to health, safety, and environmental management procedures within defined work areas.

Academic Qualification:
Bachelor's Degree in Accounting and Finance or any relevant field.

Work Experience:
2 to 4 Years.

Technical/Functional Competencies:
Cost Accounting, Cost Analysis, Industrial Cost Analysis.

Join Amber Hospitality as a Cost Accountant!
We are seeking a skilled Cost Accountant to manage and optimize our financial operations regarding hospitality services. With a commitment to exceptional service and guest satisfaction, come be a part of a leading hospitality brand in Riyadh.

Requirements:

• 3 to 4 years of experience in Cost Accounting, preferably in hospitality or real estate.
• Proficient in Microsoft Office; familiarity with accounting systems is a plus.
• Strong analytical skills to prepare financial and cost reports.
• Good understanding of financial policies and internal control systems.
• Effective organizational and time management abilities.
• Ability to work collaboratively within a team.
• Proficiency in English.

Key Responsibilities:

• Determine cost center expenses related to hospitality and housekeeping.
• Monitor daily operating costs and compare them against the budget.
• Analyze variances between actual and planned costs, reporting to management.
• Track utility consumption and prepare periodic reports.
• Oversee operational inventory and implement control systems.
• Coordinate with the Procurement Department on purchasing processes.
• Participate in budget preparation and monitor waste for efficiency improvements.