Cost Accountant

Role Overview

Cost Accountant at Matar Al Baqmi Holding Company. The role supports accurate product costing, inventory valuation, cost analysis, and financial reporting across the organization.

Role Purpose

Maintain cost data, analyze production and purchase cost variances, monitor bill of materials and standard costs, and provide timely cost and margin insights to support cost analysis and inform operational reporting and commercial decision-making.

Key Responsibilities

Product Costing & Standard Costing

• Maintain and review product cost structures, including raw material, packaging, labor, manufacturing overhead, and other relevant production costs.

Bill of Materials & Cost Master Data

• Review BOMs, costing versions, and related master data to ensure accurate and approved costing information is maintained in the ERP system.

Raw Material & Purchase Cost Analysis

• Monitor raw material prices, landed costs, purchase price movements, and their impact on product costs and margins.

Production Cost & Variance Analysis

• Analyze material usage, purchase price, production, yield, and other manufacturing variances and identify the key drivers of cost movements.

Inventory Valuation & Reconciliation

• Support accurate inventory valuation and reconcile inventory quantities and values between operational records, costing reports, and the general ledger.
• Coordinate with the production team and other users who are responsible for recording inventory-related entries and ensure completeness and accuracy in the recording cycle.

Month-End Costing & Closing

• Perform costing activities and reconciliations required for month-end closing, including review of production costs, inventory movements, and cost of goods sold.

Stock Counts

• Conduct monthly stock counts at the locations of the Group companies, reconcile stock records, investigate and resolve unreconciled variances, and report findings.

Business Support

• Work closely with Production, Procurement, Supply Chain, Sales, and R&D to evaluate the financial impact of recipe/BOM changes, purchase prices, production changes, and new products.

Qualifications & Experience

• Bachelor's degree in Accounting, Finance, or a related discipline.
• CMA, ACCA, CA Intermediate, or equivalent professional qualification is preferred.
• Minimum 5–7 years of relevant experience in cost accounting, management accounting, manufacturing finance, or a similar role.

Skills & Competencies

Technical Skills

• Demonstrate strong understanding of costing methods, BOM costing, and inventory valuation techniques.
• Understand production processes, material consumption, overhead allocation, work-in-process, finished goods, and cost of goods sold.
• Experience with Dynamics 365 costing modules and strong Excel skills for analysis, reconciliation, and reporting.
• Demonstrate good understanding of accounting principles, inventory accounting, and month-end closing procedures.

Soft Skills

• Investigate cost movements, identify root causes, and translate data into useful business insights.
• Maintain high level of accuracy in costing, reconciliations, and master data review.
• Take proactive approach to reporting and resolving costing discrepancies and improving processes.