Accountant (Cost Controller) in Manama

Position Summary

The Accountant (Cost Controller) is a critical role responsible for overseeing, managing, and optimizing the costs associated with the company’s operations, projects, and inventory. This position requires a strong understanding of financial and cost accounting principles, an ability to analyze data for cost-saving opportunities, and a commitment to ensuring all financial operations remain within budgetary limits. The ideal candidate will work closely with department heads and senior management to drive operational efficiency and support strategic decision-making.

Key Responsibilities

Cost Analysis and Monitoring: Monitor and analyze actual costs versus budgeted/standard costs, identifying variances and investigating the root causes of discrepancies.

Budgeting and Forecasting: Assist in the preparation of annual budgets and revenue forecasts, providing detailed cost projections and recommendations to management.

Reporting: Prepare and present detailed cost reports, profitability analyses, and financial statements to management and stakeholders to inform decision-making processes.

Process Improvement: Point out inefficiencies in existing processes and collaborate with cross-functional teams (e.g., production, supply chain, sales) to recommend and implement cost-efficient solutions.

Inventory Valuation (if applicable): Ensure accurate inventory records and valuation (using methods like FIFO or weighted average), tracking labor and procurement costs, and reconciling inventory discrepancies.

Compliance and Auditing: Conduct periodic checks of financial documents to ensure compliance with generally accepted accounting principles (GAAP) and internal controls, assisting with internal and external audits.

Negotiation: Communicate with suppliers and vendors to negotiate material costs and contracts for more favorable terms.

Required Qualifications and Skills

Education: Bachelor’s degree in Accounting, Finance, or a related field. A Master’s degree or professional certification (e.g., Certified Management Accountant (CMA) or Certified Public Accountant (CPA)) is often preferred.

Experience: Minimum of [insert number] years of experience in cost control, cost accounting, or financial management, preferably in a [insert relevant industry, e.g., manufacturing, construction] environment.

Technical Skills:

Proficiency in accounting software and Enterprise Resource Planning (ERP) systems (e.g., SAP, Oracle).

Advanced proficiency in Microsoft Excel (e.g., PivotTables, VLOOKUP, financial modeling).

Familiarity with data analysis and visualization tools (e.g., Power BI, Tableau) is a plus.

Soft Skills:

Strong analytical and problem-solving abilities to identify cost drivers and inefficiencies.

Excellent communication and presentation skills to explain complex financial information to non-financial stakeholders.

Exceptional attention to detail and organizational skills to manage multiple projects and meet deadlines.

Ability to work collaboratively within cross-functional teams.