Summary
Qatar Steel is hiring an Accountant in Mesaieed, Qatar. The role handles monthly and annual closing, product costing, inventory accounting, overhead allocations, and reconciliation of inventory balances with the general ledger. It also prepares management and external reporting, supports stock verification and statutory audits, and coordinates with IT on reporting and automation. Applicants need a university degree in Finance and at least six years of management accounting experience in manufacturing; CA, CMA, or CIMA is preferred.
The posting
As published on qatarsteel.com.qa. Pulled from the employer's site and shown as they wrote it.
KEY ACCOUNTABILITIES:
Description
Monthly / Annual Closing
- Periodic closing and opening subsequent month Cost Management and Inventory modules.
- Overhead allocations and absorptions allocations on monthly basis.
- Allocation of joint cost through mass allocation. Prepare books closing JV though overhead allocation. Prepare working for absorption variance and pass necessary JV before month close.
- Monitoring of pending transaction for inventory organizations and closing all inventory organization. Clearing of various WIP accounts.
- Monitoring expenses booking and scrutiny of trial balance. Running COGS recognition program and monitoring WIP jobs valuation.
- Passing necessary accounting JVs for WIP and absorption variances.
Cost Control / Continuous improvement
- Preparation of monthly product cost sheet, process wise for DRI, steel making and rolling mill
- Preparing auxiliary product cost sheets for Lime, Dolo Lime, RBQ, etc
- Assist in collecting accurate and up-to-date product cost information for product prices.
- Advise / suggestion on cost centre creation
Reporting
- To run fixed cost breakup for G&A and COGS, utility and overhead report, plant-wise depreciation report and fixed cost report by department and by GL account.
- Preparation of data pack for IQ reporting for quarterly reporting. Data for Ministry of Economics and Statistics, yearly.
- Data for producer price index and other external agencies.
- By product inventory details and its sales history for management reporting.
- Non-moving inventory item report and stock analysis report for leadership meetings.
- Create discoverer report as per business requirement.
Inventory/Material Accounting functions:
- Daily running of create accounting for all inventory organizations and completing multi-period accounting. Check for stuck transactions and getting it cleared with help of IT. To check for any pending or uncosted transaction in the inventory module. Monthly Inventory/GL reconciliation (MAD Summary).
- Running “transfer general entries to GL – cost management program, “transfer Journal Entries to GL- receiving”. “Create Accounting Receiving”.
- Create absorption element as per need/required changes.
- Raw Material landed cost management in system.
- Overhead absorption rate update in the system
- Debit note / credit note implication workings particularly for oxide pellet and scrap purchases and its loading on the inventory carrying cost in the system.
- Inventory reconciliation, monthly reconciliation of inventory subledger balances with GL.
- Participate in physical stock verification process.
- Assist with data for dealing with the statutory auditors for Half yearly and Year end audits relating to inventory and product costing.
Policies, Systems & Processes
- Co-ordinate with the IT department for getting developed various reports for faster and correct reporting.
- Involve at the time of system upgrade.
- To work with IT for various automation processes
Continuous Improvement
- Contribute to the identification of opportunities for continuous improvement and sustainability
of systems, processes and practices considering global standards, productivity improvement
and cost reduction.
Quality, Health, Safety & Environment
- Follow the HSE rules, regulations and procedures of the company, and report any HSE concerns and incidents to the responsible person
Other
- Carry out any additional tasks as required by the Management.
QUALIFICATIONS, EXPERIENCE, & SKILLS:
Minimum Qualifications:
- University Degree in Finance
- CA, CMA or CIMA qualification would be preferable.
Minimum Experience:
- 6 years’ experience in Management Accounting in a manufacturing organisation. Steel Industry experience would be preferable.
Job-Specific Skills (Generic / Technical):
- Computer skill - Good in Excel and Power point
- Experience in Oracle system
- Good standard of written and spoken English and well developed report writing ability
- Planning and organising skills
- Basic Supervisory skills
- Ability to work as part of a team
- Communication skills – written and verbal