Cost Accountant

Matar Holding company; Dammam; On-site; SAR 120,000 - 180,000; Full time

Job summary

Matar Holding company is seeking a detail-oriented Cost Accountant in Dammam to support product costing, inventory valuation, and cost analysis. You will monitor BOMs, standard costs, and master data in the ERP, and provide timely cost insights to drive commercial decisions.

The role requires 5-7 years in cost accounting, a Bachelor's in Accounting/Finance, and proficiency in Excel and ERP systems. You will work with Production, Procurement, and Supply Chain to optimize margins.

Qualifications

• Bachelor's degree in Accounting, Finance, or related discipline.
• CMA, ACCA, CA Intermediate, or equivalent professional qualification preferred.
• Minimum 5-7 years of cost accounting or related experience.
• Experience with BOM costing, inventory valuation, and month-end closing.

Responsibilities

• Maintain and review product cost structures including raw materials, packaging, labor, overhead, and other production costs.
• Review BOMs and costing versions to ensure accurate costing in the ERP system.
• Monitor raw material prices, landed costs, and price movements affecting costs and margins.
• Analyze material usage, production variance, and cost drivers.
• Support inventory valuation and reconcile quantities/values with the general ledger.
• Coordinate with production and other users to ensure complete and accurate inventory entries.
• Perform month-end costing activities and reconciliations for closing.
• Conduct monthly stock counts and investigate variances.
• Collaborate with Production, Procurement, Supply Chain, Sales, and R&D on cost impact of BOM changes and new products.

Skills

Product Costing

Variance Analysis

ERP & Data Analysis

Excel skills

Analytical Thinking

Attention to Detail

Problem Solving

Education

Bachelor's degree in Accounting or Finance

CMA / ACCA / CA Intermediate or equivalent

Tools

Excel

D365 costing modules

Job description

We are seeking a detail-oriented Cost Accountant to support accurate product costing, inventory valuation, cost analysis, and financial reporting. The role will be responsible for maintaining cost data, analyzing production and purchase cost variances, monitoring bill of materials and standard costs, and providing timely cost and margin insights to support cost analyst in the operational reporting and commercial decision-making.

Requirements

• Product Costing & Standard Costing - Maintain and review product cost structures, including raw material, packaging, labor, manufacturing overhead, and other relevant production costs.
• Bill of Materials & Cost Master Data - Review BOMs, costing versions, and related master data to ensure accurate and approved costing information is maintained in the ERP system.
• Raw Material & Purchase Cost Analysis - Monitor raw material prices, landed costs, purchase price movements, and their impact on product costs and margins.
• Production Cost & Variance Analysis - Analyze material usage, purchase price, production, yield, and other manufacturing variances and identify the key drivers of cost movements.
• Inventory Valuation & Reconciliation - Support accurate inventory valuation and reconcile inventory quantities and values between operational records, costing reports, and the general ledger.
• Coordinate with the production team and other users who are responsible for recording inventory related entries and ensuring completeness and accuracy in the recording cycle.
• Month-End Costing & Closing - Perform costing activities and reconciliations required for month-end closing, including review of production costs, inventory movements, and cost of goods sold.
• Stock counts - Conducting monthly stock counts at the locations of the Group companies, reconciling stock records, investigating, resolving and reporting unreconciled variances.
• Business Support - Work closely with Production, Procurement, Supply Chain, Sales, and R&D to evaluate the financial impact of recipe/BOM changes, purchase prices, production changes, and new products.

Minimum Qualifications And Knowledge

Bachelor's degree in Accounting, Finance, or a related discipline. CMA, ACCA, CA Intermediate, or equivalent professional qualification is preferred.

Minimum Experience (no. Of Years)

Minimum 5- 7 years of relevant experience in cost accounting, management accounting, manufacturing finance, or a similar role.

Job-specific Skills And Competencies

Technical Skills

• Product Costing & Variance Analysis - Strong understanding of costing methods, BOM costing, inventory valuation techniques
• Manufacturing Accounting - Understanding of production processes, material consumption, overhead allocation, work-in-process, finished goods, and cost of goods sold
• ERP & Data Analysis - Experience with D 365 costing modules and strong Excel skills for analysis, reconciliation, and reporting
• Financial Reporting - Good understanding of accounting principles, inventory accounting, and month-end closing procedures

Soft Skills

• Analytical Thinking - Ability to investigate cost movements, identify root causes, and translate data into useful business insights
• Attention to Detail - High level of accuracy in costing, reconciliations, and master data review
• Problem Solving - Proactive approach to reporting and resolving costing discrepancies and improving processes