Costing Accountant

About the Role

alfanar is seeking a Costing Accountant to join their team in Riyadh. This full-time position is responsible for overseeing and analyzing cost expenditures and purchases efficiently, ensuring timely processing and adherence to quality standards. The role contributes to departmental operational plans and developments within a broader scope, following defined policies and procedures.

Key Responsibilities

• Actual Costing: Coordinate monthly with production to finalize activities and close orders. Check actual data, make necessary adjustments, and process period-end closing entries (WIP, Variances, Unrealized cost). Post all costing entries and provisions, analyze closing results, and check/adjust expenses. Settle investment internal orders to AUC and cost centers, design/update distribution cycles for service and general cost allocation, and provide general problem-solving for costing issues.
• Standard Costing: Prepare planned costing data based on agreed plant activity. Enter standard costs and plant activity into the system to calculate rates. Maintain and update activity rates for production work centers. Regularly check and adjust material masters, master data (BOM & Routing), and coordinate with planning for corrections. Perform material costing runs to calculate planned costs. Maintain and upload overhead percentages to production orders. Analyze item costs and release costs for related items.
• Costing & Controlling Analysis: Analyze WIP and unrealized costs, providing justifications for major orders. Identify and analyze production, purchasing, and inventory variances. Control actual time posted by comparing with routing and report to management. Prepare master consumption reports with proper adjustments. Control actual consumption and monitor irregularities in material costs, reporting findings to management.
• Monthly Controlling ORM & Financial Reports: Prepare monthly consumption and production masters. Develop monthly costing statements per product type. Prepare special costing reports, monitor actual vs. budget and standard costing reports, and conduct variance analysis. Prepare best estimation costing reports.

General Responsibilities

• HR Proficiency: Maintain updated soft and technical skills relevant to the job and develop a career path plan.
• Delivery: Perform planned activities to meet operational and development targets as per schedules. Utilize resources effectively and provide periodic reports detailing deviations and task execution.
• Problem-Solving: Resolve related problems and escalate complex operational issues.
• Quality: Ensure quality requirements are met to develop effective quality control and processes.
• Business Process Improvements: Coordinate well-defined written systems, policies, procedures, and seek automation opportunities.
• Compliance: Adhere to relevant policies, procedures, and work instructions.
• Health, Safety, and Environment: Ensure compliance with safety, quality, and environmental management procedures within the defined work area.

Qualifications and Experience

• 4-6 years of relevant experience in costing or a similar accounting role.

Work Environment

This is a full-time position based in Riyadh, Saudi Arabia.