Cost accountant Jobs in Saudi Arabia

• 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.

• 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.

• Planning, studying, calculating, and analyzing cost accounting elements.
• Preparing reports and documents related to cost accounting.
• Analyzing direct and indirect cost elements periodically.
• Preparing specialized documents and reports related to cost accounting.

• Posting purchasing documents and related accounting entries including local and foreign material invoices.
• Supporting inventory accounting activities and contributing to reconciliations.
• Calculating the Cost of Production accurately and timely.
• Assisting in both system‑based and manual costing processes.
• Conducting cost variance analysis across materials, labor, overhead, and production.
• Preparing basic cost reports and summarizing them for management, identifying potential cost‑saving opportunities.
• Communicating efficiently with finance, procurement, supply chain, and production teams to ensure smooth processes.

• Experience with Foodex and familiarity with local ERPs (*, Rahkaran).
• Knowledge of production workflows including Bill of Materials (BOM) and cost allocation methods.
• Understanding of fixed vs. variable costs and their impact on operational reporting.

Required Finance Department / Accountant

**Role Summary:**
Lead the strategic financial management of the company, ensure financial sustainability, and support executive decisions through advanced financial analysis, risk management, and financial governance according to established standards.

**Main Responsibilities:**

* Prepare and implement financial strategy, budgets, and forecasts.
* Oversee financial reports and statements and financial analysis.
* Manage cash, liquidity, and working capital.
* Ensure financial, tax compliance, and governance.
* Coordinate with auditors, banks, and manage financing.
* Lead and develop the finance team and improve financial systems.

**Required Qualifications:**

* Bachelor's degree in Finance/Accounting/Business Administration (Master's degree or professional certifications such as CPA, CFA, CMA preferred).
* 5 to 9 years of experience in the financial field, with leadership experience.
* Familiarity with international accounting standards and systems.

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• 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.

• 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.

• 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.

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

• 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.

• 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.

• 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).

• 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.