Cost Accountant

About alfanar

Alfanar is a Saudi Arabia based company with a global footprint, specializing in manufacturing and trading a diverse range of electrical products spanning low, medium, and high voltage categories. Their portfolio also includes conventional and renewable energy solutions as well as services in oil and gas, water treatment, infrastructure, technical services, and digital technologies. Operating from a large, advanced manufacturing complex in Riyadh, alfanar emphasizes commitment to quality and the development of its workforce, encouraging an empowering environment for its employees.

Job Overview

This role focuses on performing cost accounting and analysis within manufacturing settings to ensure precise financial reporting and control over production costs. The incumbent will handle tasks related to manufacturing cost records, inventory valuation, cost control, variance analysis, production performance reporting, and support during accounting close processes.

Key Responsibilities

• Record and verify manufacturing cost entries including materials, labor, overhead, scrap, and production orders.
• Assist with product costing efforts such as standard costs, BOM evaluation, routing cost validation, and cost consolidation.
• Track cost allocations to relevant production orders, cost centers, and manufacturing functions.
• Aid in monthly cost closing to ensure financial records accurately reflect manufacturing costs.
• Support inventory value assessments, consumption analysis, and reconciliation between system data and physical stock.
• Investigate materials usage discrepancies and identify abnormal consumption or wastage.
• Contribute to cycle counts, stocktakes, and variance analysis for inventory adjustments.
• Analyze variances in materials, labor, overhead, scrap, rework, and underutilization; prepare detailed variance reports segmented by production parameters.
• Collaborate with cross-functional teams such as production, planning, warehouse, and engineering to interpret variance causes.
• Flag and escalate unusual cost trends to financial and factory management.
• Generate periodic reports on production costs, labor efficiency, overhead absorption, scrap/rework rates, and factory utilization metrics.
• Develop cost trend analyses, cost bridges, KPI dashboards, and assist in factory performance evaluations.
• Support month-end/year-end closing activities ensuring accurate posting and reconciliation of production-related financial data.
• Adhere to company costing policies, internal controls, SOPs, and approval processes.
• Provide audit support and maintain appropriate documentation for cost accounting activities.
• Identify and report gaps in cost control processes to enable corrective measures.
• Demonstrate ongoing learning to update relevant soft and technical skills.
• Meet scheduled operational goals, utilizing company resources efficiently while providing progress reports.
• Address and escalate operational problems as necessary.
• Ensure product and process quality standards are maintained.
• Promote continuous process improvements including identification of automation opportunities.
• Comply with organizational policies, procedures, and work instructions.
• Maintain workplace safety and environmental standards in compliance with relevant regulations.

Candidate Profile

• Bachelor's degree in Accounting, Finance, or a related field.
• Fresh graduates or professionals with up to 2 years of relevant experience.
• Sound knowledge of cost accounting principles and best practices.
• Experience or understanding of cost accounting systems, cost and industrial cost analysis.