Costing & Budgeting Section Head
Al Amal National Supreme Co. For Ice Cream Products, KSA
Total des années d'expérience :8 years, 9 Mois
• Analyze and report material costs and usage including variances, analyses production variances and provides reporting and explanations.
• Control Product Cost through analysis of the cost elements (Material - Labor - MOH ) from factory level down to product level, with alternative plans to ensure reaching the best product cost.
• Update standard costs in the bill of materials.
• Support Product sales pricing.
• Profitability reporting ( Factory level - -Customer - product - Sales order - Channel - Material Group )
• Provide budgeting and forecasting support for manufacturing operations & Budget preparation ( Expense - product cost )
• Monitor the expenditure budget
• Validate the cost of goods sold as part of the month-end close.
• Build capacity module to measure the capacity based on the produced items and suggest the proper mix forecast
• Analyzing changes in product design, raw materials, manufacturing methods or services provided, to determine effects on cost.
• Comply with Generally Accepted Accounting Principles (GAAP) for financial statements.
Cost Controller:-
Prepare, analyze and report weekly, monthly, quarterly gross margin analysis by brand and by customer.
Month-end closing and year-end closing, prepare journal entries as necessary and analyze inventory evaluation.
Participate with the financial manager in preparing the budget.
Planning, Studying, and collecting data to determine costs of business activity such as raw material purchases, inventory, labor and the MOH.
Analyzing changes in product design, raw materials, manufacturing methods or services provided, to determine effects on cost.
Follow-up production orders for each production line to determine they costs and calculate the number of operating hours.
Follow recording and allocating the expenses on cost centers
Follow-up production orders for each production Line and calculate the cycle time for each production line to analyze the variance between the quantity produced and the estimated quantity based on the cycle time calculated
Analyzing actual manufacturing costs and preparing periodic reports comparing standard costs to actual production costs.
Prepare budgeting reports (for the company and for each department).
Develop and maintain the cost accounting system, documents and records of the organization.
Analyze and recommend costs and cost savings.
Comply with Generally Accepted Accounting Principles (GAAP) for financial statements.
Recording cost information for use in controlling expenditures.
Making estimates of new and proposed product costs.
Providing management with reports specifying and comparing factors affecting prices and profitability of products or services.
Update standard costs in the bill of materials.
Prepare Income statement by product and customer.
Analyzing the OpEx of plant
Validate the cost of goods sold as part of the month-end close.
Accumulate and apply overhead costs as required by generally accepted accounting principles.
Report on break even points.
Analyze sales volume variance.
Determine fixed costs (e.g. salaries, rent and insurance).
Plan and record variable costs (e.g. purchases of raw material and operations costs).
Comply with Generally Accepted Accounting Principles (GAAP) for financial statements.
Coordinate with IT department for system issues, maintenance and development such as production, purchasing, import/export, accounts payable, accounts receivable, import/export IT, receiving, shipping, and other.
Analyze cost accounting data and assist with cycle count/physical inventories
Maintain internal control documentation and test internal controls.
Prepare detailed account analysis and reconcile sales, cost and inventory, liability accounts by customer type by division.
Review and analyze inventory and margin reports, conduct research and perform analytical studies in regards to cost analysis and profitability.
Support and assist internal department reporting requirements such as audit, tax ( VAT ) and others.
Work in special projects as required.
Fixed Assets Accountant (Jun-17 till December 2020 )
* Record fixed assets by creating and supervising a system of procedures, forms, and controls
* Recommend any updates to accounting policies affecting fixed assets to management
* Record in the accounting system newly acquired fixed assets and those disposed
* Perform reconciliation of fixed asset subsidiary ledger balance with summary-level account in the general ledger
* Perform depreciation calculation for all fixed assets
* Perform revision and update on the detailed schedule of accumulated depreciation and fixed assets
* Perform asset retirement obligation calculations for ARO applicable assets
* Carry out periodic reviews on intangible assets’ impairment
* Carry out inventory counts of fixed assets physically
* Recommend fixed assets that should be disposed off to management
* Create fixed asset related audit schedules, and collaborate with auditors on their assignments
• Preparing tax payments.
• Create tax data collection systems
• Completing regular (monthly, quarterly and annual) tax reports.
• Prepare necessary paperwork for tax payments and returns.
• Share financial data with the accounting departments.
• Update the company sales and purchases tax database as tax rates.
• Research and correct process errors that caused incorrect tax filings.
• Record all bank transactions
• Match the company statement with the bank statement
• Prepare financing letters
• Prepare bank reconciliation
• Follow-up of bank LC
• Follow-up of bank fees
• Review and verify invoices and check requests
• Sort, code and match invoices
• Set invoices up for payment
• Enter and upload invoices into system
• Track expenses and process expense reports
• Prepare and process electronic transfers and payments
• Post transactions to journals, ledgers and other records
• Reconcile accounts payable transactions
• Prepare analysis of accounts
• Monitor accounts to ensure payments are up to date
• Research and resolve invoice discrepancies and issues
• Maintain vendor files
• Correspond with vendors and respond to inquiries
• Produce monthly reports
• Provide supporting documentation for audits
• Analyzing changes in product design, raw materials, manufacturing methods or services provided, to determine effects on cost
• Analyzing actual manufacturing costs and preparing periodic reports comparing standard costs to actual production costs
• Coordinate physical inventory counts and cycle counts.
• Investigate cycle counting variances and resolve issues.
• Update standard costs in the bill of materials.
• Review standard and actual costs for inaccuracies.
• Validate the cost of goods sold as part of the month-end close.
• Work with the materials review board to locate and dispose of obsolete inventory.
• Conduct ongoing process constraint analyses.
• Planning, Studying, and collecting data to determine costs of business activity such as raw material purchases, inventory and labor.
• Report on periodic variances and their causes, focusing in particular on spending variances.
• Assisting in providing management with reports specifying and comparing factors affecting prices and profitability of products.
* Cost accountant:-
• Coordinate physical inventory counts and cycle counts.
• Investigate cycle counting variances and resolve issues.
• Review standard and actual costs for inaccuracies.
• Assisting validate the cost of goods sold as part of the month-end close.
• Work with the materials review board to locate and dispose of obsolete inventory.
• Report on periodic variances and their causes.
• Assisting in providing management with reports specifying and comparing factors affecting prices and profitability of products.
Inventory control accountant:-
• Monitoring the warehouse and the stocks regularly.
• Review and register the daily work orders of the warehouse.
• Evaluate and calculate the cost of each product.
• Reconciling inventory accounts to the general ledger.
• Preparing monthly journal entries as needed.
• Updates job knowledge by participating in educational opportunities.
Accounts receivable accountant:-
• Review invoices of customers receive.
• Maintain up-to-date billing system.
• Updates receivables by totaling unpaid invoices.
• Maintains records by invoices, debits, and credits.
• Summarizes receivables by maintaining invoice accounts.
• Invoices recording on accounting software.