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.

We are looking for a professional cost accountant to join our team, where you will be responsible for preparing and analyzing monthly and quarterly cost reports, monitoring and tracking project costs and operational processes, in addition to developing management accounting systems and analyzing variances in budgets. The ideal candidate must have at least two years of experience in cost accounting, proficiency in specialized accounting software, such as, with strong skills in using advanced Excel and preparing financial reports. We provide a stimulating work environment with a competitive benefits package including health insurance, continuous training, and professional development opportunities.