Cost Accountant📣 Job Ad

Join our team at Tajalla Creative Agency as a Cost Accountant!
We are a creative agency based in Riyadh, Saudi Arabia, focused on helping ambitious organizations succeed through innovative solutions. As a Cost Accountant, you will play a crucial role in ensuring our financial efficiency and effectiveness.

Key Responsibilities:

• Data Collection: Gather cost-related information associated with factory operations and maintain an updated database of expenses.
• Cost Analysis: Analyze fixed and variable costs while reviewing standard costs against actual costs to ensure accuracy and effective cost control.
• Reporting: Prepare comprehensive budget reports, providing monthly, quarterly, and annual cost forecasts to support financial planning.
• Recommendations: Identify activities that consume excessive time or resources and provide effective advice to improve efficiency and reduce costs.

Qualifications:

• Minimum of 3 years of experience in accounting.
• Bachelor's degree in Accounting or a related field.
• Preferably Saudi nationality.
• Preferably male.

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.