Senior Cost Controller & Inventory Accountant

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

Job summary

GUTHMI Group in Jeddah seeks an Inventory Accountant to oversee valuation accuracy and cost allocation across items, ensuring integrity between postings and stock records.

You will coordinate with procurement, reconcile GL, analyze turnover, report COGS, perform variance analysis per branch, and participate in physical stock counts to identify root causes and drive improvements.

Responsibilities

• Inventory Valuation Accuracy: Ensure precise inventory valuation and verify that all associated costs are accurately allocated to specific items.
• Unit Cost Approval: Review and approve the unit cost of items prior to posting and updating inventory records.
• Procurement Coordination: Coordinate with the Procurement Department to audit prices and review all posted costs.
• GL Reconciliation: Monitor inventory movements and ensure stock balances are fully reconciled with the General Ledger (GL).
• Inventory Correction: Resolve negative stock balances and address items with zero-cost records to ensure data integrity.
• Turnover Analysis: Analyze and report on inventory turnover ratios, while identifying stagnant and slow-moving items.
• COGS Oversight: Control the Cost of Goods Sold (COGS) and ensure it is recorded accurately and reflected in financial statements.
• Variance & Margin Analysis: Perform variance analysis on costs and profit margins (Actual vs. Expected) per branch, and report findings to the Finance Department.
• Physical Stocktaking: Participate in periodic physical counts and analyze discrepancies between system records and actual stock.
• Root Cause Analysis: Analyze inventory variances and provide strategic recommendations to address and mitigate the root causes.

Job description

• Inventory Valuation Accuracy: Ensure precise inventory valuation and verify that all associated costs are accurately allocated to specific items.
• Unit Cost Approval: Review and approve the unit cost of items prior to posting and updating inventory records.
• Procurement Coordination: Coordinate with the Procurement Department to audit prices and review all posted costs.
• GL Reconciliation: Monitor inventory movements and ensure stock balances are fully reconciled with the General Ledger (GL).
• Inventory Correction: Resolve negative stock balances and address items with zero-cost records to ensure data integrity.
• Turnover Analysis: Analyze and report on inventory turnover ratios, while identifying stagnant and slow-moving items.
• COGS Oversight: Control the Cost of Goods Sold (COGS) and ensure it is recorded accurately and reflected in financial statements.
• Variance & Margin Analysis: Perform variance analysis on costs and profit margins (Actual vs. Expected) per branch, and report findings to the Finance Department.
• Physical Stocktaking: Participate in periodic physical counts and analyze discrepancies between system records and actual stock.
• Root Cause Analysis: Analyze inventory variances and provide strategic recommendations to address and mitigate the root causes.