Summary
alfanar is hiring a Cost Accountant for its electric manufacturing operations in Riyadh. The role covers manufacturing and inventory cost accounting, product costing, inventory reconciliations, production variance analysis, and factory cost reporting. The accountant will also support month-end and year-end closing, audit requirements, and compliance with costing controls and procedures. Applicants should hold a bachelor’s degree in accounting, finance, or a relevant field; the stated experience range is 0–2 years.
The posting
As published on alfanar.com. Pulled from the employer's site and shown as they wrote it.
Requisition ID:29079
CityFinance
Group overview:
Headquartered in Riyadh, Saudi Arabia, we operate construction and manufacturing businesses, design & development centers and a host of facilities in the Middle East and other countries.
alfanar is involved in:
- Electrical, Electromechanical and Civil Engineering Construction
- Manufacturing and Marketing Electrical Construction Products
- Allied Engineering Services
Our Main Divisions:
- alfanar electric
- alfanar Construction
- alfanar Building Systems
alfanar electric
alfanar electric is the industrial arm of alfanar, manufacturing a variety of low, medium and high voltage electrical construction products.
alfanar electric operates industries in:
- Riyadh and Jubail, Saudi Arabia
- Dubai, UAE
- London, UK
alfanar has a development and engineering center in Chennai, India.
Industrial Complex, Riyadh
The center of alfanar’s industrial activities is alfanar Industrial Complex situated in the Third Industrial Zone on Al-Kharj Road, Riyadh.
Spread across 700,000 square meters, the Complex houses alfanar’s facilities.
The Complex has a comprehensive infrastructure including a data and communication center as well as a commercial zone.
Job Purpose
To perform manufacturing cost accounting, inventory accounting, and cost analysis while ensuring accurate financial reporting and effective manufacturing cost control.
Key Accountability Areas
Manufacturing Cost Accounting:
- Record, review, and validate manufacturing cost transactions related to materials, labor, overheads, scrap, rework, and production orders.
- Support product costing activities, including standard cost maintenance, BOM costing, routing cost validation, and cost roll-up support.
- Monitor cost allocation to production orders, cost centers, and manufacturing activities.
- Support monthly cost closing activities and ensure accurate cost reflection in financial records.
Inventory & Material Cost Control:
- Support inventory valuation, material consumption analysis, and stock movement validation.
- Review material usage against BOM and highlight abnormal consumption, wastage, or variance.
- Support inventory reconciliations between system records, production reports, and physical stock.
- Assist in cycle counts, stock takes, inventory adjustments, and related variance investigation.
Production Variance Analysis:
- Analyze material, labor, overhead, scrap, rework, and underutilization variances.
- Prepare variance reports by product, production line, cost center, and manufacturing area.
- Coordinate with production, planning, warehouse, and engineering teams to understand variance drivers.
- Highlight unusual cost movements and escalate risks to finance and factory management.
Manufacturing Performance Reporting:
- Prepare regular reports on production cost, conversion cost, material cost, labor efficiency, overhead absorption, scrap, rework, and factory utilization.
- Support preparation of cost bridges, cost trend analysis, and manufacturing KPI dashboards.
- Provide accurate financial inputs for factory performance reviews and management reporting.
- Track actual manufacturing cost against budget, standard cost, and forecast.
Month-End Closing Support:
- Support month-end and year-end closing activities related to manufacturing cost accounting.
- Validate production order settlement, cost center postings, inventory movements, and accruals.
- Prepare supporting schedules for manufacturing cost, inventory, and variance accounts.
- Ensure closing tasks are completed accurately within tight reporting timelines.
Controls, Compliance & Audit Support:
- Follow approved costing policies, internal controls, SOPs, and approval workflows.
- Support internal and external audit requirements related to inventory, costing, and manufacturing expenses.
- Maintain proper documentation for cost calculations, reconciliations, and variance explanations.
- Identify control gaps in manufacturing cost recording and escalate for corrective action.
Role Accountability
HR Proficiency:
- Ability to obtain updated soft and technical skills related to the job.
Delivery:
- Perform the planned activities to meet the operational and development targets as per delivery schedules.
- Utilize resources effectively to achieve objectives within efficient cost and time.
- Provide a periodic report formatted by detailing the deviation and execution of planned tasks.
Problem-Solving:
- Solve any related problems arise and escalate any complex operational issues.
Quality:
- Ensure quality requirements to develop effective quality control and processes including specifications for products or processes or related activities.
Business Process Improvements:
- Coordinate well-defined written systems, policies, procedures, and seek automations opportunities as much as possible.
Compliance:
- Comply to related policy and procedures and work instructions.
Health, Safety, and Environment:
- Ensure compliance of relevant safety, quality, and environmental management procedures and controls within defined area of work activity to guarantee safety, legislative compliance, and delivery of high-quality products/services.
Academic Qualification
Bachelor Degree in Accounting and Finance or Any relevant field
Work Experience
Fresher - 0-2 years
Technical / Functional Competencies
Cost Accounting
Cost Accounting Best Practices
Cost Accounting Systems
Cost Analysis
Industrial Cost Analysis