Job Location: Saudi Arabia
alfanar Electric is looking for a Cost Accountant to support manufacturing finance operations through accurate cost accounting, inventory control, production cost analysis, and financial reporting. The role will focus on monitoring manufacturing costs, analyzing production variances, supporting month-end closing, and maintaining reliable inventory and costing records.
This position is suitable for freshers and candidates with 0–2 years of experience who have a background in accounting, finance, cost accounting, or industrial cost analysis and are interested in building a career in manufacturing finance.
Key Responsibilities
Manufacturing Cost Accounting
- Record and verify manufacturing cost transactions covering materials, labor, factory overheads, scrap, rework, and production orders.
- Assist with product costing, including standard cost updates, Bill of Materials (BOM) costing, routing cost checks, and cost roll-ups.
- Monitor the allocation of manufacturing costs to production orders, cost centers, and factory activities.
- Support monthly manufacturing cost closing and ensure costs are accurately reflected in financial records.
- Maintain accurate supporting documentation for manufacturing cost calculations and accounting entries.
Inventory & Material Cost Control
- Assist with inventory valuation and analyze material consumption and stock movements.
- Compare actual material usage with BOM requirements and identify unusual consumption, wastage, or variances.
- Reconcile inventory records between ERP systems, production reports, warehouse records, and physical stock.
- Support cycle counts, annual stock counts, inventory adjustments, and investigation of inventory variances.
- Help ensure inventory costs are accurately recorded and controlled.
Production Cost & Variance Analysis
- Analyze material, labor, overhead, scrap, rework, and production utilization variances.
- Prepare cost variance reports by product, production line, cost center, and manufacturing area.
- Work with production, planning, warehouse, and engineering teams to identify the reasons behind cost variations.
- Highlight unusual cost movements and provide relevant information to finance and factory management.
- Support corrective actions aimed at improving manufacturing cost control.
Manufacturing Performance Reporting
- Prepare reports covering production costs, material costs, conversion costs, labor efficiency, overhead absorption, scrap, rework, and factory utilization.
- Assist in preparing cost bridges, cost trends, manufacturing KPI reports, and management dashboards.
- Provide accurate financial information for factory performance reviews.
- Compare actual manufacturing costs with budgets, standard costs, and forecasts.
- Support management with timely cost analysis and financial insights.
Month-End & Year-End Closing
- Assist with month-end and year-end closing activities related to manufacturing cost accounting.
- Review production order settlements, cost center postings, inventory transactions, and applicable accruals.
- Prepare supporting schedules for manufacturing costs, inventory balances, and variance accounts.
- Complete assigned closing activities accurately and within established reporting deadlines.
- Investigate and resolve discrepancies identified during the closing process.
Controls, Compliance & Audit
- Follow company costing policies, internal controls, standard operating procedures, and approval processes.
- Support internal and external audits involving inventory, manufacturing costs, and factory expenses.
- Maintain proper records for cost calculations, reconciliations, journal entries, and variance explanations.
- Identify potential weaknesses in manufacturing cost controls and report them to the appropriate finance team.
- Ensure accounting and costing activities comply with established policies and procedures.
Role Responsibilities
Delivery
- Complete assigned activities according to approved schedules and operational targets.
- Use financial and operational resources efficiently while maintaining accuracy and timely delivery.
- Prepare periodic reports highlighting completed activities, deviations, and outstanding issues.
Problem Solving
- Identify and investigate accounting, inventory, and manufacturing cost discrepancies.
- Support the resolution of routine cost accounting issues.
- Escalate complex financial or operational problems to the relevant management team.
Quality
- Maintain accuracy and consistency in cost accounting records, reports, reconciliations, and financial information.
- Follow established quality controls for manufacturing cost and inventory accounting activities.
Process Improvement
- Follow documented accounting systems, policies, procedures, and work instructions.
- Identify opportunities to improve costing processes, reporting efficiency, data accuracy, and automation.
- Support continuous improvement initiatives within manufacturing finance operations.
Compliance
- Comply with company policies, accounting procedures, internal controls, and applicable financial requirements.
- Maintain appropriate documentation and approval records for assigned activities.
Health, Safety & Environment
- Follow relevant company health, safety, quality, and environmental procedures while working within the assigned area.
- Comply with workplace requirements applicable to manufacturing and office operations.
Academic Qualification
- Bachelor’s degree in Accounting, Finance, Cost Accounting, or a related field.
Work Experience
- Fresher to 2 years of experience (0–2 years).
- Candidates with internship or academic exposure to cost accounting, manufacturing finance, inventory accounting, or industrial cost analysis may be considered.
Technical & Functional Skills
- Cost Accounting
- Manufacturing Cost Accounting
- Cost Analysis
- Inventory Accounting
- Production Cost Analysis
- Cost Accounting Systems
- Standard Costing
- Variance Analysis
- Inventory Reconciliation
- Financial Reporting
- Industrial Cost Analysis
- Manufacturing KPI Reporting
- Accounting Best Practices