Costing Accountant

Role overview

This position is focused on manufacturing cost accounting, inventory valuation, and cost analysis. The main goal is to keep financial records accurate while helping the factory control and understand manufacturing costs.

About the company

Alfanar is a Saudi organization with an international footprint. Its business spans manufacturing and trading of low, medium, and high voltage electrical products, along with solutions in renewable and conventional energy, oil and gas, water treatment, infrastructure, technical services, and digital offerings. The company’s manufacturing center is Medinet alfanar Alsinaiya in Riyadh, a 700,000 square-meter industrial complex with advanced facilities, laboratories, and specialized teams. Alfanar emphasizes high quality, employee growth, and a supportive work culture.

Manufacturing cost accounting

• Maintain and verify cost transactions tied to materials, labor, overheads, scrap, rework, and production orders.
• Assist with product cost work such as standard cost upkeep, BOM cost checks, routing cost validation, and roll-up support.
• Track how costs are assigned to production orders, cost centers, and manufacturing activities.
• Help complete monthly cost closing and ensure costs are reflected correctly in the books.

Inventory and material cost control

• Support inventory valuation, material consumption review, and validation of stock movements.
• Compare actual material usage against BOM expectations and flag waste, unusual usage, or variances.
• Help reconcile inventory records across the system, production reports, and physical counts.
• Assist with cycle counts, stock takes, inventory adjustments, and variance investigations.

Production variance analysis

• Study variances related to materials, labor, overheads, scrap, rework, and underutilization.
• Prepare variance summaries by product, line, cost center, and manufacturing area.
• Work with production, planning, warehouse, and engineering teams to identify what is driving the variances.
• Spot unusual cost changes and raise concerns to finance and factory leadership.

Manufacturing reporting

• Produce recurring reports covering production cost, conversion cost, material cost, labor efficiency, overhead absorption, scrap, rework, and factory utilization.
• Support cost bridge preparation, trend analysis, and manufacturing KPI dashboards.
• Provide reliable financial information for factory reviews and management reporting.
• Compare actual manufacturing cost with budget, standard cost, and forecast.

Month-end and year-end support

• Assist with closing activities related to manufacturing cost accounting at month end and year end.
• Check production order settlement, cost center postings, inventory movements, and accrual entries.
• Prepare backup schedules for manufacturing cost, inventory, and variance accounts.
• Complete close tasks accurately within strict reporting deadlines.

Controls, compliance, and audit support

• Work according to approved costing policies, internal controls, SOPs, and approval flows.
• Support internal and external audit requests related to inventory, costing, and manufacturing expenses.
• Keep clear documentation for cost calculations, reconciliations, and variance explanations.
• Identify weaknesses in manufacturing cost recording and escalate them for corrective action.

Role accountability

• Keep skills current by learning relevant technical and soft skills for the role.
• Complete planned work on time and meet operational and development targets.
• Use time and resources efficiently to deliver within cost and schedule expectations.
• Share periodic progress reports that explain deviations from plan and task execution status.
• Resolve assigned issues and escalate complex operational concerns when needed.
• Maintain quality standards through effective controls, specifications, and process discipline.
• Contribute to process improvement by following documented systems and looking for automation opportunities.
• Follow policies, procedures, and work instructions consistently.
• Observe safety, quality, and environmental requirements to support compliant and high-quality operations.

Qualification and experience

A bachelor’s degree in Accounting and Finance or another relevant field is required. The role calls for 2 to 4 years of experience.

Technical and functional competencies

The job calls for capability in cost accounting, cost accounting best practices, cost accounting systems, cost analysis, and industrial cost analysis.

Additional information

This is a full-time onsite role based in Riyadh, Saudi Arabia.