Cost Accountant

Job Responsibilities

• Maintain and update standard costing for products encompassing materials, labor, and overhead expenses.
• Track production costs, conducting detailed variance analysis on material, labor, and overhead components.
• Regularly review and manage Bills of Materials (BOMs), production routing details, and related costing information.
• Analyze raw material usage, including scrap and wastage, while assessing overall production efficiency.
• Ensure timely financial closure for production work orders and RAF transactions.
• Perform monthly inventory valuation and implement FIFO costing procedures within the ERP platform.
• Coordinate physical inventory counts, investigate discrepancies, and enhance inventory accuracy.
• Prepare inventory reconciliations and journal entries related to inventory adjustments.
• Assist in month-end closing activities, including Work-In-Progress (WIP) and general ledger reconciliations.
• Generate reports on product costing, profitability, and manufacturing cost analyses.
• Support product pricing strategies by providing detailed cost analyses.
• Ensure adherence to costing policies, internal control mechanisms, and compliance with IFRS standards.
• Facilitate internal and external audit processes by furnishing costing and inventory data.
• Undertake additional duties as assigned within the scope of the role.

Educational and Experience Requirements

• Bachelor's degree specializing in Cost Accounting is mandatory.
• Minimum of one year experience in cost accounting and inventory management, preferably in a manufacturing environment.

Technical and Language Skills

• Proficiency in standard costing and variance analysis techniques.
• Experience handling BOM and production routing processes.
• Knowledge of inventory valuation methods, specifically FIFO.
• Working knowledge of ERP systems, preferably Microsoft Dynamics AX or D365.
• Advanced skills in Microsoft Excel.
• Competency in financial reporting and general ledger operations.
• Familiarity with IFRS and cost accounting principles.
• Fluency in both English and Arabic languages is required.

Personal Competencies

• Strong analytical and problem-solving abilities.
• Innovative mindset with a focus on productivity.
• Effective team collaboration skills.
• Meticulous attention to detail.