Costing Accountant

About alfanar Group

alfanar Group is seeking a Costing Accountant to join their team in Riyadh. This full-time position is designed for professionals with 0-1 years of experience, focusing on the efficient oversight and analysis of cost expenditures and purchases.

Role Purpose

The Costing Accountant is responsible for overseeing and analyzing cost expenditures and purchases. This role ensures that all financial activities related to costing are managed efficiently, in a timely manner, and according to quality standards, aligning with defined policies and procedures to support departmental operational plans and developments.

Key Responsibilities

• Coordinate monthly with production to finalize all actual activities and close orders.
• Review all actual data posted by production monthly and make necessary adjustments.
• Process period-end closing and postings monthly, including Work-in-Progress (WIP), variances, and unrealized costs.
• Post all costing entries and provisions on a monthly basis.
• Analyze the results of period-end closing monthly.
• Review expenses monthly and make adjustments as required.
• Perform monthly settlement for investment internal orders to Assets Under Construction (AUC) and cost centers.
• Design and update distribution cycles for allocating service and general cost center costs.
• Provide general problem-solving for costing issues, supervision, and support.

General Accountabilities

• Ensure HR proficiency in all related tasks.
• Focus on timely and accurate delivery of financial data.
• Apply problem-solving skills to resolve costing discrepancies.
• Maintain high-quality standards in all financial analyses and reports.
• Contribute to business process improvements within the costing function.
• Ensure compliance with all relevant financial policies and procedures.
• Adhere to health, safety, and environment guidelines.

Required Skills and Experience

• Prepare planned costing data based on agreed plant activity.
• Enter standard cost and standard plant activity into the system and calculate rates.
• Maintain and update activity rates for production work centers.
• Regularly check and adjust materials master data.
• Regularly check master data (Bill of Materials & Routing) and inform planning for necessary adjustments.
• Execute material costing runs to calculate planned costs.
• Maintain production orders overhead percentages.
• Upload overhead costs to production orders based on maintained percentages.
• Regularly analyze costs for items and coordinate with planning for any corrections.
• Regularly release costs for related items.

Candidate Profile

The ideal candidate will have 0-1 years of experience in a relevant costing or accounting role. This position requires a detail-oriented individual capable of managing complex financial data and contributing to the continuous improvement of costing processes.