Senior Specialist Cost Accounting
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Key skills for this role
About the Role
Our client, a leading UAE-based manufacturer in defense and aerospace, seeks an experienced Senior Specialist in Cost Accounting. This hands-on role involves costing, budgeting, forecasting, and monthly closing in a complex manufacturing environment.
Key Skills for This Role
Responsibilities
- Prepare monthly project financial statements and explain results month to date, year to date, and project to date.
- Prepare Estimated at Completion (EAC) cost calculations for each project.
- Prepare and validate product costing for all products included in each project.
- Coordinate and prepare the annual budget and forecasting process.
- Prepare monthly management reports for senior management and upload to group systems (Hyperion / corporate portal).
- Ensure proper expense classification by cost centre, transfer expenses related to WIP, calculate finished goods based on EAC, and calculate cost variance.
- Create new assets in SAP and verify against the approved Capex budget.
- Prepare cash flow forecasts to monitor inflows and outflows.
- Prepare Letters of Credit / Letters of Guarantee and coordinate with banks and other departments.
- Perform variance analysis between budget and actual costs.
- Provide assistance and coordination to auditors for interim and full year audits.
Requirements
- Bachelor's degree in Finance or Accounting
- CMA, CIMA, CPA, ACCA, or equivalent certification (mandatory)
- Minimum 10 years in costing and budgeting within a manufacturing environment
- SAP experience essential (manufacturing module)
- Experience in project costing, product costing, EAC, standard costing, variance analysis, WIP accounting, budgeting, forecasting, cash flow
- Manufacturing – defense, aerospace, industrial, engineering or oil & gas preferred
Full Job Posting
Job Summary
- Seeking an experienced Senior Specialist in Cost Accounting to join the finance team.
- Hands on role responsible for costing, budgeting, forecasting, and monthly closing activities.
- Performs financial functions related to accuracy, recording, analysis, and presentation of financial operations for a complex manufacturing environment.
Key Accountabilities
- Project Costing: Gain full understanding of projects, interpret contracts, prepare monthly project financial statements.
- EAC Calculation: Prepare Estimated at Completion cost calculations for each project.
- Product Costing: Prepare and validate product costing for all products included in each project.
- Manufacturing Accounting: Demonstrate comprehensive knowledge of manufacturing accounting system.
- Budgeting & Forecasting: Coordinate and prepare annual budget and forecasting process.
- Prepare monthly management reports for senior management and upload to group systems (Hyperion / corporate portal).
- Month End Closing: Ensure proper expense classification, transfer WIP expenses, calculate finished goods based on EAC, calculate cost variance.
- Create new assets in SAP and verify against approved Capex budget.
- Prepare cash flow forecasts to monitor inflows and outflows.
- Prepare Letters of Credit / Letters of Guarantee and coordinate with banks.
- Perform variance analysis between budget and actual costs.
- Provide assistance to auditors for interim and full year audits.
Experience & Education Qualifications
- Bachelor's degree in Finance or Accounting.
- CMA, CIMA, CPA, ACCA, or equivalent (mandatory).
- Minimum 10 years in costing and budgeting within a manufacturing environment.
- SAP experience essential (manufacturing module).
- Manufacturing – defense, aerospace, industrial, engineering or oil & gas preferred.
- Project costing, product costing, EAC, standard costing, variance analysis, WIP accounting, budgeting, forecasting, cash flow.
- Must demonstrate experience across GL, costing, commercial, and project accounting.
Key Requirements
- Extensive years of progressive experience in manufacturing, costing and budgeting.
- Proven experience in project accounting and product costing.
- Strong understanding of manufacturing accounting systems and production floor performance evaluation.
- Professional certification (CMA/CIMA/CPA/ACCA) is non negotiable.
- SAP experience is essential – must have hands on usage in a manufacturing setting.
- Candidates must be hands on and willing to multitask across GL, costing, commercial, and project accounting.
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