Cost Accountant

1 day ago


Jeddah, Makkah Province, Saudi Arabia Arab National Bank Full time

Job Title: Cost Accountant

Location: [Company Location]

Job Type: Full-time

Industry: Manufacturing

Job Summary:

We are seeking a highly skilled Cost Accountant to join our manufacturing company. The ideal candidate will be responsible for analyzing, recording, and controlling costs associated with production processes. They will play a critical role in cost optimization, budgeting, and financial decision-making.

Key Responsibilities:

Cost Accounting & Analysis:

  • Maintain and analyze cost accounting records and prepare reports on cost variations.
  • Monitor product costing, inventory valuation, and variance analysis.
  • Analyze material, labor, and overhead costs to ensure accurate financial reporting.
  • Identify cost reduction opportunities and suggest process improvements.

Inventory & Manufacturing Cost Control:

  • Conduct monthly and quarterly inventory reconciliations and audits.
  • Ensure proper valuation of raw materials, work-in-progress (WIP), and finished goods.
  • Monitor waste, scrap, and by-product costs and recommend cost control measures.

Budgeting & Forecasting:

  • Assist in annual budgeting and periodic forecasting for manufacturing operations.
  • Analyze standard costs vs. actual costs and report variances.
  • Support pricing strategies by providing accurate cost data and profitability analysis.

Compliance & Reporting:

  • Ensure compliance with accounting standards (GAAP, IFRS) and cost accounting principles.
  • Prepare cost reports for management, auditors, and regulatory authorities.
  • Support the finance team in internal and external audits related to cost accounting.

Qualifications & Requirements:

  • Bachelor's degree in Accounting, Finance, or a related field (CA, CMA, CPA, or ACCA preferred).
  • 3-5 years of experience in cost accounting, preferably in a manufacturing environment.
  • Strong understanding of costing methods (FIFO, LIFO, Weighted Average, Standard Costing, etc.).
  • Experience with ERP systems (SAP, Oracle, Microsoft Dynamics, or similar).
  • Advanced Excel skills for financial modeling and analysis.
  • Strong analytical, problem-solving, and communication skills.

Preferred Skills:

  • Experience in lean manufacturing, process costing, and variance analysis.
  • Familiarity with cost allocation and absorption costing techniques.
  • Ability to work with cross-functional teams in production, procurement, and finance.

Benefits:

  • Competitive salary and performance-based incentives.
  • Health insurance and other benefits.
  • Professional development and career growth opportunities.
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