Cost Accountant

Saudiiwaa; Jeddah; On-site; SAR 80,000 - 100,000; Full time

Job summary

A leading firm in cost management in Jeddah is looking for a professional to handle cost control and monitoring, budgeting, and project accounting. The ideal candidate will have strong analytical skills and proficiency in ERP systems. Responsibilities include tracking project expenditures, preparing financial reports, and ensuring compliance with accounting standards.

Responsibilities

• Track and monitor project expenditures against approved budgets.
• Analyze cost variances and identify causes of over/under-spending.
• Prepare monthly cost reports, cash flow analyses, and financial statements.

Skills

Analytical and detail-oriented mindset

Excellent numerical and reporting skills

Strong communication and coordination abilities

Ability to work under pressure

Knowledge of cost control techniques

Proficiency in ERP systems

Understanding of project accounting principles

Tools

Odoo

SAP

Oracle

MS Excel

Job description

1. Cost Control & Monitoring

• Track and monitor project expenditures against approved budgets.
• Analyze cost variances and identify causes of over/under‑spending.
• Maintain cost control systems to ensure accurate project cost allocation.
• Assist project managers in understanding financial performance and cost implications.

2. Budgeting & Forecasting

• Support the preparation of annual and project‑specific budgets.
• Develop cost projections and forecasts based on project schedules and progress.
• Update cost estimates and forecasts regularly to reflect actual performance.

3. Accounting & Reporting

• Record and reconcile all project cost transactions (materials, labor, equipment, subcontractors, overhead).
• Prepare monthly cost reports, cash flow analyses, and financial statements for ongoing projects.
• Ensure that all expenses comply with internal control procedures and company policies.
• Support month‑end and year‑end closing activities related to cost accounting.

4. Cost Analysis

• Conduct detailed cost analysis by activity, phase, and resource category.
• Review supplier and subcontractor invoices for accuracy and consistency with contracts.
• Identify cost‑saving opportunities and assist management in implementing efficiency measures.

5. Coordination & Support

• Collaborate with procurement, warehouse, and project management teams to validate material and service costs.
• Provide financial insights and cost data for decision‑making and project planning.
• Participate in project review meetings to present financial performance indicators.

6. Compliance & Documentation

• Maintain proper documentation of cost data, reports, and supporting records.
• Ensure compliance with local accounting standards and company financial policies.
• Assist in internal and external audits related to project and cost accounting.

Skills

• Analytical and detail‑oriented mindset.
• Excellent numerical and reporting skills.
• Strong communication and coordination abilities.
• Ability to work under pressure and meet deadlines.
• Sound knowledge of cost control techniques and project cost management.
• Proficiency in ERP systems (e.g., Odoo, SAP, Oracle, or similar) and MS Excel.
• Strong understanding of construction project accounting, cost control, and budgeting principles.