Cost Accountant

Position Overview

We are seeking a detail-oriented and analytical Cost Accountant to join our dynamic finance team. In this pivotal role, you will be responsible for maintaining accurate product costing, monitoring production expenses, and ensuring financial compliance across our manufacturing operations. The ideal candidate will possess strong analytical skills, proficiency in cost accounting principles, and experience with enterprise resource planning (ERP) systems. This position offers an opportunity to contribute to strategic decision-making through precise financial insights and cost optimization initiatives.

Key Responsibilities

• Standard Costing & Variance Analysis: Develop and maintain standard costing for materials, labor, and overheads. Conduct thorough variance analysis to identify discrepancies and recommend corrective actions to enhance operational efficiency.
• Production Cost Monitoring: Track and evaluate raw material consumption, scrap, wastage, and production efficiency. Ensure timely financial closure of production work orders and RAF transactions to maintain accurate financial records.
• Bill of Materials (BOM) & Routing Management: Review, update, and maintain BOMs, production routes, and costing data to reflect current manufacturing processes and material requirements.
• Inventory Valuation & Reconciliation: Perform monthly inventory valuation using FIFO costing methods, execute inventory closing procedures in the ERP system, and coordinate physical inventory counts. Investigate and resolve inventory variances to improve accuracy and reliability.
• Financial Reporting & Compliance: Assist with month-end closing activities, including WIP reconciliation and general ledger reconciliations. Prepare comprehensive product costing, profitability, and manufacturing cost analysis reports to support informed pricing decisions. Ensure adherence to costing policies, internal controls, and International Financial Reporting Standards (IFRS).
• Audit Support & Collaboration: Provide essential costing and inventory data to internal and external auditors, facilitating smooth audit processes and ensuring compliance with regulatory requirements.
• Cross-Functional Support: Collaborate with production, procurement, and finance teams to streamline cost control measures and enhance overall operational performance. Contribute to strategic initiatives by offering data-driven insights and innovative solutions to reduce costs and improve profitability.

Qualifications & Skills

To excel in this role, you should have a strong foundation in cost accounting principles, manufacturing processes, and financial reporting. The following qualifications and competencies are essential:

Education & Experience

• Education: Bachelor’s degree in Cost Accounting, Accounting, Finance, or a related field.
• Experience: Minimum of 1+ years of relevant experience in cost accounting or inventory control, preferably within a manufacturing environment.

Technical Proficiency

• Expertise in standard costing and variance analysis to identify cost-saving opportunities and improve financial performance.
• Hands-on experience with Bill of Materials (BOM) and routing management to ensure accurate product costing.
• Proficiency in inventory valuation (FIFO) and ERP systems, including Dynamics AX or D365.
• Advanced skills in Microsoft Excel for financial modeling, data analysis, and reporting.
• Strong understanding of financial reporting, general ledger reconciliations, and IFRS requirements.

Core Competencies

• Analytical & Problem-Solving Skills: Ability to interpret complex financial data, identify trends, and propose actionable solutions to optimize costs and improve efficiency.
• Attention to Detail: Meticulous approach to financial data, ensuring accuracy in costing, inventory valuation, and reporting.
• Teamwork & Collaboration: Capacity to work effectively with cross-functional teams, including production, procurement, and finance, to achieve organizational goals.
• Innovation & Productivity: Proactive mindset to drive continuous improvement in cost control measures and financial processes.

Language Requirements

• Fluency in English and Arabic is required to communicate effectively with stakeholders and ensure compliance with reporting standards.

Why Join Us?

As a Cost Accountant, you will play a critical role in shaping the financial health of our organization. This position offers a competitive salary, professional growth opportunities, and the chance to work in a collaborative environment where your contributions are valued. If you are a detail-oriented professional with a passion for cost accounting and financial analysis, we encourage you to apply and become a key player in our success.