Cost Accountant | alfanar Electric

alfanar; Riyadh; On-site; SAR 90,000 - 150,000; Full time

Job summary

alfanar is seeking a cost accountant to manage manufacturing cost accounting activities in our Riyadh operations. You will maintain cost records, analyze variances, and support monthly closing and cost reporting for multiple manufacturing sites.

Role requires a Bachelor’s in Accounting/Finance and strong control mindset. You will collaborate with production, planning, warehouse, and engineering teams to ensure accurate costing and compliant processes.

Qualifications

• Experience with manufacturing cost accounting processes.
• Ability to review and validate cost transactions (materials, labor, overhead).
• Familiarity with BOM costing, routing cost validation and cost roll-up.
• Knowledge of monthly cost closing activities and variance analysis.

Responsibilities

• Record, review, and validate manufacturing cost transactions (materials, labor, overheads).
• Support product costing activities (standard costs, BOM costing, routing costs).
• Monitor cost allocations to production orders and cost centers.
• Assist in cycle counts, inventory reconciliations and variance investigations.
• Prepare cost and KPI reports for management and month-end close.

Skills

Manufacturing cost accounting

Inventory cost control

Variance analysis

Financial reporting

Costing policies & SOPs

Audit support

Education

Bachelor's degree in Accounting and Finance

Job description

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

Our Main Divisions:

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.

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.

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 elevate 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 elevate for corrective action.

Role Accountability

• 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 elevate 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