Cost Accountant

Job Detail
Industry:
Fast Moving Consumer Goods (FMCG)
Category:
Accounts, Finance & Financial Services
Total Position:
1
Job Type:
Full Time/Permanent
Job Location:
Jeddah, Saudi Arabia
Gender:
Male
Career Level:
Experienced Professional
Education:
Bachelors
Minimum Experience:
5 Years
Work Permit:
Saudi Arabia
Apply By :
Sep 13, 2017
Posted On:
Jun 13, 2017
Job Description



Job Summary

The Cost Accountant is responsible for the management accounting function of the finance and accounting department including coordinating the financial planning, analysis and budgeting activities in addition to preparing monthly management performance and the cost reports.

General Duties and Responsibilities

· Ensure the implementation of the Management Accounting Product Costing function’s objectives, plans, policies & procedures and assuring they serve as basis for all the function’s operations.

· Assist the Chief Accountant in the development of the annual budget and ensure cascading it down to the functional level and that all employees are working towards achievement of the department's goals and objectives within the assigned budget.

· Monitor the operating results of the Management Accounting & the Costing function, compare them to established goals and objectives, and report results to the Chief Accountant.

Operational Duties and Responsibilities

· Implement financial planning, analysis, and budgeting policies and procedures to ensure application of internal control within the function.

· Review related policies and procedures on regular basis to ensure it is updated, serving the requirements, and identify opportunities for continuous improvement.

· Provide financial analysis and planning assistance and develop all types of short and long term financial projections / forecasts / plans in accordance with strategies, overall objectives and directions.

· Identify and manage financial risks (e.g. interest rate and exchange rate risks) that can affect the company’s operations.

· Supervise the development of financial models that serve to support the financial planning process.

· Coordinate and oversee the budgeting process, and assist department’s heads in the preparation of their budgets.

· Set the provisional timetable to be followed for the budget process (approved by the Board of Directors).

· Supervise the initiation of the budgeting process.

· Supervise the design and preparation of the budget forms, models and templates to be used by department heads in the budgeting process to enhance the budget techniques and procedures.

· Supervise the preparation of the consolidated annual master budget including capital expenditure, operating expenditure, and workforce planning budgets.

· Supervise the compilation, review and preparation of the budgeted financial statements (income statement, balance sheet and cash flows statement).

· Monitor effective implementation of and compliance to the approved budget (tracking, variance analysis, reporting, etc…).

· Present the monthly management reports and its related analysis together with the product cost reports to the Chief Accountant, highlight any areas that require attention, and propose initiatives and recommendations for corrective action.

Supervisory

· Provide advice, guidance, direction, and authorization to function's personnel to carry out major plans and procedures, consistent with established policies.

· Communicate and discuss the function’s guidelines and procedures with employees to ensure responsibilities, authorities and accountabilities are defined and understood.

· Delegate some of the responsibilities to appropriate subordinates in order to benefit from smooth running of the function’s operation.

· Provide guidance and leadership to all function's employees to ensure effective and efficient flow of work, and ensure all employees recognize their fundamental role in the function.

· Conduct annual performance appraisal to review employees’ work performance.

· Recommend salary adjustments, rewards and promotions based on employee performance. Carry out disciplinary meetings when needed.

· Monitor the adherence of function's employees to SRFC’s guidelines, policies and procedures.

· Ensure effective function's performance through the selection, development, deployment and motivation of competent staff.

· Perform other duties related to the job as assigned by the Finance & Accounting Manager.

Competencies

The following competencies must be met and practiced on a continuous basis:

Behavioral

Functional

§ Accountability

§ Commitment

§ Communication

§ Flexibility

§ Initiative

§ Integrity

§ Organizing & Planning

§ Teamwork

§ Budgeting & Forecasting

§ Feasibility Studies

§ Financial Planning & Analysis

§ Financial Management

§ Financial Modeling & Valuation

Qualifications

A minimum of:

· Bachelor degree in Accounting, Finance, or equivalent degree with a minimum of (5-8) years of relevant experience.

· Good knowledge of International Accounting Standards (e.g. IFRS) and SOCPA (Saudi Organization for Certified Public Accountants).

· Professional certificate (i.e. CPA, CMA or CA) is preferred.

· Proficiency in both English and Arabic Language.


Required Skills

CIA, CA, International Accounting Standards, IFRS, CPA, CMA,