Cost Accountant (Manufacturing Module)

Job description / Role

Cost Accountant in the Manufacturing Module

The cost accountant in the manufacturing module will be responsible for overseeing and managing all aspects of cost accounting within the production environment. This includes the preparation, analysis, and reporting of cost data related to materials, labor, overhead, and other production costs. The ideal candidate will work closely with manufacturing, finance, and operations teams to ensure accurate costing, improve cost efficiencies, and support decision-making processes.

Key Responsibilities:

• Cost tracking and analysis: Track and analyze the costs of raw materials, labor, overhead, and other production-related expenses. Monitor manufacturing costs to ensure efficient and accurate allocation. Perform detailed cost analysis to identify cost-saving opportunities and inefficiencies in the production process.
• Cost reporting: Prepare monthly, quarterly, and annual cost reports, including standard costing, variance analysis, and margin reports. Provide cost reports for management and stakeholders, highlighting areas of concern and cost improvement strategies. Review and adjust cost estimates for new products, changes in production processes, or shifts in materials.
• Standard costing and variance analysis: Develop, maintain, and update standard costs for products and production processes. Investigate and explain cost variances between actual and standard costs, and work with production teams to address discrepancies. Report on the financial impact of variances and recommend corrective actions.
• Inventory valuation and control: Perform regular inventory audits to ensure the accuracy of inventory values and cost of goods sold (COGS). Oversee inventory reconciliations, ensuring proper documentation and adherence to accounting standards. Calculate and maintain accurate work-in-progress (WIP) and finished goods inventory values.
• Budgeting and forecasting: Assist in the preparation of annual budgets and forecasts for manufacturing costs. Work with the finance team to predict future costs, including material prices, labor costs, and other expenses. Provide financial insights to support cost control measures and operational planning.

Qualifications:

• Education: Bachelor's degree in accounting, finance, or related field. Professional certification such as CPA (Certified Public Accountant) or CMA (Certified Management Accountant).
• Experience: Minimum of 3-5 years of experience in cost accounting, preferably within a manufacturing environment. Experience with ERP systems (e.g., Oracle, SAP) and cost accounting software is highly preferred. Solid understanding of cost accounting principles, inventory management, and standard costing methods.
• Skills: Strong analytical and problem-solving skills. Proficiency in Excel (pivot tables, VLOOKUP, etc.) and other financial software tools. Excellent communication skills, both written and verbal. Detail-oriented with the ability to manage multiple priorities and meet deadlines. Ability to work effectively in a cross-functional team environment.

Work Environment:

• Manufacturing environment with regular exposure to production floors.
• Occasional overtime may be required during month-end close or audit periods.

About the Company

Since National Fire Fighting Manufacturing FZCO (NAFFCO) was established, it has grown to become the largest fire fighting equipment manufacturer in the Middle East and one of the top manufacturers worldwide.

The companys core business focuses on design, manufacture, supply, installation and after sales services with our highly trained and experienced technicians and engineers for fire fighting products ranging from basic fire extinguishers to highly sophisticated fire engines. The company provides total fire protection solutions to the most prestigious developments around the world, including residential buildings, commercial complexes, telecommunication centers, industrial installations, oil refineries and petrochemical plants and airport installations.

With its presence in over 100 countries, NAFFCO headquarters is located in United Arab Emirates, where a wide range of innovative fire fighting equipment is manufactured with the companys state-of-the-art technology.