Cost Accountant | alfanar Electric

Cost Accountant – Drive Financial Precision and Operational Excellence in Manufacturing

Join alfanar Electric as a **Cost Accountant**, where you will play a pivotal role in optimizing manufacturing costs, ensuring financial accuracy, and delivering actionable insights to enhance operational efficiency. In this dynamic position, you will be responsible for maintaining robust cost accounting systems, analyzing financial performance, and collaborating across departments to drive data-driven decision-making. This is an opportunity to contribute to financial integrity while supporting the company’s growth and competitive edge in the manufacturing sector.

As a key member of the finance team, you will oversee critical financial processes, ensuring transparency, compliance, and continuous improvement in cost management. Your expertise will be instrumental in validating transactions, identifying cost variances, and providing strategic recommendations to mitigate financial risks and enhance profitability.

Key Responsibilities

Your role will encompass a broad spectrum of financial and operational duties, including but not limited to:

• Manufacturing Cost Accounting: Record, review, and validate all manufacturing cost transactions, including materials, labor, overheads, scrap, rework, and production orders. Support comprehensive product costing activities, such as standard cost maintenance, Bill of Materials (BOM) costing, routing cost validation, and cost roll-up processes. Monitor cost allocations to production orders, cost centers, and manufacturing activities to ensure alignment with financial objectives. Play a vital role in monthly cost closing activities, guaranteeing accurate cost reflections in financial records.
• Inventory and Material Cost Control: Assist in inventory valuation, material consumption analysis, and stock movement validation. Analyze material usage against BOM standards, identifying abnormal consumption, wastage, or variances. Support inventory reconciliations between system records, production reports, and physical stock, while aiding in cycle counts, stock takes, and inventory adjustments. Investigate and resolve variances to maintain optimal inventory levels and cost efficiency.
• Production Variance Analysis: Conduct in-depth analysis of material, labor, overhead, scrap, rework, and underutilization variances. Prepare detailed variance reports by product, production line, cost center, and manufacturing area. Collaborate with production, planning, warehouse, and engineering teams to diagnose variance drivers and implement corrective actions. Escalate unusual cost movements to finance and factory management for proactive risk mitigation.
• Manufacturing Performance Reporting: Develop and maintain regular reports on production cost, conversion cost, material cost, labor efficiency, overhead absorption, scrap, rework, and factory utilization. Support the preparation of cost bridges, cost trend analyses, and manufacturing KPI dashboards. Provide accurate financial inputs for factory performance reviews and executive management reporting. Track actual manufacturing costs against budgets, standard costs, and forecasts to ensure financial alignment with strategic goals.
• Month-End and Year-End Closing Support: Lead month-end and year-end closing activities related to manufacturing cost accounting. Validate production order settlements, cost center postings, inventory movements, and accruals. Prepare supporting schedules for manufacturing cost, inventory, and variance accounts. Ensure all closing tasks are completed accurately and within tight reporting deadlines to maintain financial integrity.
• Controls, Compliance, and Audit Support: Adhere to approved costing policies, internal controls, Standard Operating Procedures (SOPs), and approval workflows. Support both internal and external audit requirements related to inventory, costing, and manufacturing expenses. Maintain comprehensive documentation for cost calculations, reconciliations, and variance explanations. Identify control gaps in manufacturing cost recording and escalate findings for timely corrective actions.

Role Accountability and Expectations

In this position, you will be expected to:

• Develop and Maintain Professional Competencies: Continuously update your technical and soft skills to align with evolving industry standards and organizational needs.
• Ensure Timely Delivery: Execute planned activities with precision, meeting operational and development targets within defined schedules. Utilize resources efficiently to achieve objectives while adhering to cost and time constraints. Provide periodic reports detailing deviations and execution progress against planned tasks.
• Problem-Solving and Escalation: Address operational challenges proactively and escalate complex issues to relevant stakeholders for resolution.
• Quality Assurance: Uphold stringent quality standards in all financial processes, ensuring compliance with specifications for products, processes, and related activities.
• Business Process Improvement: Collaborate on refining written systems, policies, and procedures. Identify opportunities for automation and process optimization to enhance efficiency.
• Compliance and Policy Adherence: Strictly comply with all relevant policies, procedures, and work instructions to maintain operational excellence.
• Health, Safety, and Environmental Compliance: Ensure adherence to safety, quality, and environmental management procedures within your area of responsibility. Promote legislative compliance and high-quality delivery of products and services.

This role is ideal for a detail-oriented professional with a strong background in accounting, financial analysis, and manufacturing operations. Your ability to interpret financial data, drive process improvements, and collaborate across teams will be instrumental in supporting alfanar Electric’s vision of operational excellence and financial transparency.