SR.ACCOUNTANT COSTING📣 Job Ad

About the Role

alfanar is seeking a SR.ACCOUNTANT, COSTING to join our team in Riyadh. This full-time role is central to managing product costing, manufacturing cost accounting, inventory valuation, and comprehensive cost analysis. The successful candidate will support accurate financial reporting, robust cost control, and informed operational decision-making, ensuring adherence to company policies and accounting standards.

Core Responsibilities

• Manage product costing activities for assigned manufacturing operations, ensuring accuracy of standard costs, Bills of Materials (BOMs), routings, labor rates, and overhead allocations.
• Perform standard cost roll-ups and periodic cost reviews to reflect current manufacturing conditions.
• Analyze actual manufacturing costs against standard costs and investigate cost variances.
• Review cost absorption, material usage, labor efficiency, scrap, rework, and production overheads to ensure accurate product costing.
• Support cost reduction initiatives by identifying opportunities to improve manufacturing efficiency and cost performance.
• Manage inventory valuation, work-in-progress (WIP), production order settlements, and manufacturing-related inventory accounting.
• Review material consumption, inventory movements, stock adjustments, and investigate abnormal inventory transactions.

Cost Analysis and Financial Reporting

• Support month-end and year-end closing activities related to manufacturing costs, inventory, cost centers, and production variances.
• Prepare manufacturing cost reports, inventory reconciliations, and financial analyses for management reporting.
• Ensure timely and accurate reporting of manufacturing financial results in accordance with company policies and accounting standards.
• Perform detailed variance analysis for material, labor, overhead, purchase price, scrap, rework, and production efficiency.
• Assist in the preparation of annual budgets, forecasts, and manufacturing cost plans.
• Monitor actual manufacturing costs against budgets and forecasts, highlighting financial risks and recommending corrective actions.
• Support profitability analysis, cost-saving initiatives, and operational performance improvement projects.
• Provide financial insights to support production planning, capacity utilization, and operational decision-making.

Business Partnering and Compliance

• Partner with production, warehouse, procurement, planning, engineering, and quality teams to improve cost visibility and operational performance.
• Provide financial analysis and costing support for new products, process improvements, and operational initiatives.
• Support management by explaining manufacturing cost movements, operational variances, and financial impacts.
• Collaborate with cross-functional teams to improve inventory accuracy, production reporting, and cost management practices.
• Contribute to continuous improvement initiatives aimed at enhancing manufacturing efficiency and financial performance.
• Ensure compliance with company policies, accounting standards, and internal controls related to manufacturing costing and inventory.
• Maintain accurate documentation for costing calculations, reconciliations, inventory adjustments, and financial analyses.
• Support internal and external audits, inventory counts, and cost audit requirements.
• Review and improve costing procedures, reconciliations, and financial reporting processes to strengthen operational controls.
• Identify opportunities to automate reporting, improve data accuracy, and enhance manufacturing finance processes through continuous improvement.

General Accountabilities

• Maintain and update soft and technical skills relevant to the job.
• Perform planned activities to meet operational and development targets, utilizing resources effectively and providing periodic reports on deviations.
• Resolve operational problems and escalate complex issues as required.
• Ensure quality requirements are met, including developing effective quality control and process specifications.
• Coordinate well-defined written systems, policies, and procedures, seeking automation opportunities.
• Comply with all related company policies, procedures, and work instructions.
• Ensure compliance with relevant health, safety, and environmental management procedures and controls.

Required Experience

Candidates should possess 2-5 years of relevant experience in costing, manufacturing accounting, or a similar financial role.