Cost Accountant

2 weeks ago


Dubai, United Arab Emirates Crystal Gallery LLC Full time

**Job Overview**:
As a Cost Accountant, you will be responsible for analyzing costs, preparing budgets, and monitoring expenses to maximize efficiency and profitability within the organization. You will work closely with various departments to gather financial data, conduct cost analyses, and provide recommendations to management for improving cost-effectiveness.

**Key Responsibilities**:

- Analyze the costs of production, raw materials, labor, and overhead to identify areas for cost reduction and efficiency improvement.
- Assist in the preparation of annual budgets by providing accurate cost data and forecasts. Monitor budget variances and report deviations to management.
- Monitor inventory levels, reconcile discrepancies, and analyze inventory costs. Implement inventory control measures to minimize waste and optimize inventory turnover.
- Prepare regular reports on cost trends, variances, and key performance indicators (KPIs) for management review. Present findings and recommendations to help make informed business decisions.
- Calculate the cost of goods sold (COGS) for manufactured products, including direct materials, labor, and overhead costs. Evaluate product profitability and pricing strategies.
- Collaborate with cross-functional teams to identify opportunities for process improvement and cost-saving initiatives. Implement changes to streamline operations and reduce expenses.
- **:Ensure compliance with accounting standards, regulations, and internal controls related to cost accounting practices. Assist in internal and external audits as needed.
- Assist in financial forecasting and modeling exercises to support strategic planning and decision-making. Provide insights into future cost trends and potential risks.
- Allocate indirect costs to products or departments based on appropriate cost drivers. Develop allocation methodologies that accurately reflect the consumption of resources.
- Implement cost control measures to manage and reduce expenses without compromising quality or service levels. Monitor cost-saving initiatives and track their impact on the bottom line.

**Qualifications**:

- Bachelor's degree in Accounting, Finance, or related field
- Proven experience as a Cost Accountant, preferably in a manufacturing or production environment.
- Proficiency in cost accounting principles, techniques, and methodologies.
- Strong analytical skills with attention to detail and accuracy.
- Advanced Excel skills and experience with financial modeling and analysis tools.
- Excellent communication and interpersonal skills.
- Ability to work effectively in a team environment and collaborate across departments.
- Knowledge of ERP systems and cost accounting software

**Salary**: From AED3,000.00 per month


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