Saudi Aramco GI 270.003 LABOR COSTING AND ANALYSIS
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This document is Saudi Aramco General Instruction (GI) 270.003, focusing on Labor Costing and Analysis. It details the corporate procedures for recording, distributing, redistributing, reporting, and analyzing labor costs for Saudi Aramco employees.
The instruction covers the analysis of labor-related items on the monthly Operating Statement Report, providing guidance for understanding labor cost variances. Key topics include the glossary of terms, monthly operating statement reports, Saudi Aramco (SAO) labor costs, Supplemental Manpower (SMP) labor, labor cost variance and accountability, and the handling of redistributed labor charges which are not part of controllable costs.
It also outlines the components of regular labor and benefit rates, the payroll cost accounting process, and direct compensation primary cost elements. This comprehensive guide is essential for ensuring accurate financial reporting and effective cost management within Saudi Aramco's operational framework.
Ideal for accounting managers, financial analysts, and cost controllers working within Saudi Aramco or similar large-scale oil and gas organizations.