Cost Accountant | alfanar Electric

Job description:

Job Purpose

To perform manufacturing cost accounting, inventory accounting, and cost analysis while ensuring accurate financial reporting and effective manufacturing cost control.

Key Accountability Areas

Manufacturing Cost Accounting:

• Record, review, and validate manufacturing cost transactions related to materials, labor, overheads, scrap, rework, and production orders.
• Support product costing activities, including standard cost maintenance, BOM costing, routing cost validation, and cost roll-up support.
• Monitor cost allocation to production orders, cost centers, and manufacturing activities.
• Support monthly cost closing activities and ensure accurate cost reflection in financial records.

Inventory & Material Cost Control:

• Support inventory valuation, material consumption analysis, and stock movement validation.
• Review material usage against BOM and highlight abnormal consumption, wastage, or variance.
• Support inventory reconciliations between system records, production reports, and physical stock.
• Assist in cycle counts, stock takes, inventory adjustments, and related variance investigation.

Production Variance Analysis:

• Analyze material, labor, overhead, scrap, rework, and underutilization variances.
• Prepare variance reports by product, production line, cost center, and manufacturing area.
• Coordinate with production, planning, warehouse, and engineering teams to understand variance drivers.
• Highlight unusual cost movements and escalate risks to finance and factory management.

Manufacturing Performance Reporting:

• Prepare regular reports on production cost, conversion cost, material cost, labor efficiency, overhead absorption, scrap, rework, and factory utilization.
• Support preparation of cost bridges, cost trend analysis, and manufacturing KPI dashboards.
• Provide accurate financial inputs for factory performance reviews and management reporting.
• Track actual manufacturing cost against budget, standard cost, and forecast.

Month-End Closing Support:

• Support month-end and year-end closing activities related to manufacturing cost accounting.
• Validate production order settlement, cost center postings, inventory movements, and accruals.
• Prepare supporting schedules for manufacturing cost, inventory, and variance accounts.
• Ensure closing tasks are completed accurately within tight reporting timelines.

Controls, Compliance & Audit Support:

• Follow approved costing policies, internal controls, SOPs, and approval workflows.
• Support internal and external audit requirements related to inventory, costing, and manufacturing expenses.
• Maintain proper documentation for cost calculations, reconciliations, and variance explanations.
• Identify control gaps in manufacturing cost recording and escalate for corrective action.

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 to 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 or Any relevant fieldWork Experience Fresher - 0-2 yearsTechnical / Functional Competencies Cost AccountingCost Accounting Best PracticesCost Accounting SystemsCost AnalysisIndustrial Cost Analysis

Profile description:

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.

 

The hub of alfanar's manufacturing operations is Medinet alfanar Alsinaiya, a 700,000 square-meter complex located in Riyadh. The complex houses an array of ultra-modern manufacturing facilities and laboratories equipped with state-of-the-art technologies and staffed with highly skilled professionals.

 

alfanar derives its success from its commitment to providing the highest quality standards to its customers, and the continuous development of its human capital, who alfanar considers its most valuable asset. With this in mind, alfanar promotes a proactive work environment where its employees are always valued, nurtured, and empowered to fuel their pride in being part of alfanar.

 

For more information about alfanar, please visit alfanar.com