Accountant.Management Accounting

Role Overview

Accountant, Management Accounting at Qatar Steel, responsible for monthly and annual financial closing, cost management, inventory accounting, and management reporting in a manufacturing environment.

Company Overview

Qatar Steel is a steel manufacturing organization with multiple production facilities including direct reduced iron (DRI), steel making, and rolling mill operations.

Role Purpose

To manage the company's management accounting function, ensuring accurate and timely monthly and annual financial closes, cost control and analysis, inventory and material accounting, and the delivery of financial and operational reports to support management decision-making and regulatory compliance.

Key Responsibilities

Monthly and Annual Closing

• Execute periodic closing and opening of subsequent month Cost Management and Inventory modules.
• Calculate overhead allocations and absorptions on a monthly basis.
• Allocate joint costs through mass allocation and prepare books closing journal vouchers through overhead allocation.
• Prepare working papers for absorption variance and pass necessary journal vouchers before month close.
• Monitor pending transactions for inventory organizations and close all inventory organizations.
• Clear various work-in-progress accounts.
• Monitor expenses booking and scrutinize trial balance.
• Run cost of goods sold recognition program and monitor work-in-progress jobs valuation.
• Pass necessary accounting journal vouchers for work-in-progress and absorption variances.

Cost Control and Continuous Improvement

• Prepare monthly product cost sheets on a process-wise basis for DRI, steel making, and rolling mill operations.
• Prepare auxiliary product cost sheets for Lime, Dolo Lime, RBQ, and other products.
• Assist in collecting accurate and up-to-date product cost information for product pricing purposes.
• Advise on cost centre creation.
• Contribute to identification of opportunities for continuous improvement and sustainability of systems, processes, and practices considering global standards, productivity improvement, and cost reduction.

Reporting

• Run fixed cost breakup for general and administrative and cost of goods sold expenses.
• Generate utility and overhead reports, plant-wise depreciation reports, and fixed cost reports by department and by general ledger account.
• Prepare data packs for IQ reporting for quarterly reporting.
• Compile data for Ministry of Economics and Statistics for yearly submission.
• Provide data for producer price index and other external agencies.
• Prepare by-product inventory details and sales history for management reporting.
• Generate non-moving inventory item reports and stock analysis reports for leadership meetings.
• Create Discoverer reports as per business requirements.

Inventory and Material Accounting

• Run daily create accounting for all inventory organizations and complete multi-period accounting.
• Check for stuck transactions and obtain clearance with information technology support.
• Identify any pending or uncosted transactions in the inventory module.
• Conduct monthly inventory and general ledger reconciliation using MAD Summary.
• Run transfer general entries to general ledger cost management program and transfer journal entries to general ledger receiving.
• Run create accounting receiving.
• Create absorption elements as per required changes.
• Manage raw material landed cost in the system.
• Update overhead absorption rates in the system.
• Prepare debit note and credit note implication workings particularly for oxide pellet and scrap purchases and their loading on inventory carrying cost in the system.
• Reconcile inventory subledger balances with general ledger on a monthly basis.
• Participate in physical stock verification processes.
• Assist with data provision for statutory auditors for half-yearly and year-end audits relating to inventory and product costing.

Policies, Systems, and Processes

• Coordinate with information technology department for development of various reports for faster and correct reporting.
• Participate during system upgrades.
• Work with information technology on various automation processes.

Health, Safety, and Environment

• Follow health, safety, and environment rules, regulations, and procedures of the company.
• Report any health, safety, and environment concerns and incidents to the responsible person.

Other Duties

• Carry out any additional tasks as required by management.

Qualifications & Experience

• University degree in Finance.
• CA, CMA, or CIMA qualification preferred.
• Minimum 6 years' experience in management accounting in a manufacturing organization.
• Steel industry experience preferred.

Skills & Competencies

• Proficient in Microsoft Excel and PowerPoint.
• Experience with Oracle system.
• Good standard of written and spoken English with well-developed report writing ability.
• Planning and organizing skills.
• Basic supervisory skills.
• Ability to work as part of a team.
• Written and verbal communication skills.