what does a cost accountant do?
What Does a Cost Accountant Do?
Cost accountants determines the costs associated with providing a service or manufacturing a product.
Prepare and review monthly journal entries carefully, looking for anomalies and other inconsistencies.
Conduct inventory reserve analysis regularly and generate reports for senior management.
Prepare cost accounting reports to submit to senior management.
Maintain and review the general ledger and reconcile balance sheets.
Assist the general accounting team with recommendations to changes on policies or procedures when necessary.
Classify costs accurately and update them as appropriate.
Analyze costs of raw materials and other supplies and create cost-benefit analyses for different vendors.
Bachelor's Degree in Accounting or related field required
Previous experience in general accounting or as a cost analyst usually preferred
Experience with accounting software, such as FreshBooks
Advanced MS Excel skills needed
Strong knowledge of accounting procedures
Excellent analytical skills with an attention to detail
National Average Salary
The average salary for a Cost Accountant is $68,398 per year in the United States in 2019.
*Our salary estimates are based data collected anonymously and varies greatly by experience, location, industry and other factors. These estimates should only be used as a guideline and only given to the for the purpose of general comparison only.
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