Cost Accountant

Precision Group; Dubai; On-site; AED 100,000 - 130,000; Full time

Job summary

A leading company in Dubai is seeking a Costing Analyst to manage costing and pricing strategies, support budgeting processes, and enhance financial reporting. The ideal candidate will have a strong background in cost accounting and experience in manufacturing environments. Responsibilities include developing standard costs, conducting variance analysis, and ensuring compliance with financial reporting standards. This role requires excellent analytical skills, effective communication, and the ability to manage multiple projects efficiently.

Qualifications

• 6-8 years of experience in costing and budgeting in manufacturing environments.
• Experience in project management methodologies is highly desirable.

Responsibilities

• Develop and maintain standard costs of finished goods and production components.
• Support budgeting and forecasting processes.
• Prepare financial analysis related to manufacturing costs and inventory.

Skills

Analytical

Communication

Time Management

Education

Bachelor’s degree in Accounting

Professional certification in Cost Accounting

Tools

ERP

CRM

MS Excel

Job description

Responsible for the ongoing analysis of process constraints, target costing projects, margin analysis, and tracing costs back to underlying activities. Support Manager in preparing budgets and rolling forecasts, loading and unloading of costs and expenses to correct projects / jobs, participate in the audit program to facilitate the finalization of financial statements, inventory management, costing and finance projects reporting

KEY RESPONSIBILITIES

Costing and pricing

• Develop and maintain standard costs of finished goods and production components
• Stay abreast of best cost matrices and trends in the packaging industry and advice management of same
• Pricing / costing of new and existing products and submit to GM and FM for review
• Managing price revision cycle, ensuring timely and accurate price update
• Close coordination with project manager and sales team
• Monitor key customer / product profitability, perform analysis to identify profit improvement opportunities and work cross functionally to monetize the ideas and define corrective actions to drive profit
• Responsible for tracking value generated by Cost Improvement & Value Generation activities. Identify value opportunities and cost leakages
• Develop and implement tools and processes to guarantee the maintenance of the account profitability as per contractual agreement. Including the reflection of cost variations in material and conversion, in the regularly updated price lists
• Overall responsibility of product and customer portfolio analysis. Proactively foster initiatives for portfolio optimization and support key account financial reviews
• Capex investment preparation and initial assessment against Company's KPI's

Process continuous improvement

• Support Commercial and Finance teams in business process improvements, implementing best practices and fully utilizing ERP system capabilities
• In close collaboration with Finance team, present tool and process improvement ideas for a faster and more accurate response to customer enquiries. Identify issues with existing procedures and use these findings to improve them or remove processes that aren’t generating value
• Oversee the planning, development, and implementation of project efforts that utilize information technology solutions, principles, standards, and best practices
• Critical assessment of processes and formats with a continuous improvement eye to enhance current practices, improve efficiency and fully embed way of working
• Develop and implement best practices, processes, and toolsets for effective portfolio / project management, and take initiatives to educate staff on best practices and effective project execution
• Ensure all documents and records are up to date and that record traceability and retrieval is upheld at all times. Ensure all processes, procedures & activities comply with ISO and management procedures
• Lead from commercial perspective the Budgeting / Forecasting processes

Management reports

• Prepare various financial analysis related to manufacturing costs, inventory, and expense information for various customers as needed for decision making support. Provide critical assessment of all cost projections
• Analyzes changes in product design, raw materials, manufacturing methods, or services provided, to determine effects on costs. Analyzes actual production costs and prepares periodic reports comparing standard costs to actual production costs
• Provides management with reports specifying and comparing factors affecting prices and profitability of products or services
• Weekly / monthly, Actual reporting, assessment of performance vs Budget, previous period, SOP. Updating and maintaining of databases, including pcs and tonnage
• Work with all levels of leadership and relevant stakeholders to ensure project initiatives are managed and maintained; develop executive level presentations of the portfolio and project budget.
• Ensure compliance to Safety, Quality, Food Safety and Environment requirements as specified in the global QHSE Management System with strict adherence to ISO and local regulatory authority.

Requirements

Education / Qualifications

• Bachelor’s degree in Accounting, Finance, Commerce, or a related field is mandatory.
• Professional certification in Cost Accounting preferred (CMA

Experience

• 6-8 years of experience in costing, Variance analysis, Product costing, Budgeting, Inventory management in Manufacturing / Engineering / Industrial or production-driven environments.
• Experience or qualifications in project management methodologies is highly desirable.

Functional Skills & Specific Knowledge

• Cost accounting principles and financial reporting standards in line with International Financial Reporting Standards.
• Adept with Manufacturing processes, workflows, and cost drivers
• Knowledge of ERP, CRM and MS Excel tools and techniques mandatory
• Knowledge and understanding of standard project management tools
• Analytical & Detail-Oriented – Ability to analyze complex data and provide insights
• Communication Skills – Ability to explain financial information clearly to non-financial stakeholders
• Time Management & Organization – Handle multiple projects or deadlines
• Familiarity with compliance and internal control procedures