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The differences between account analysts and cost accountants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both an account analyst and a cost accountant. Additionally, a cost accountant has an average salary of $60,528, which is higher than the $55,829 average annual salary of an account analyst.
The top three skills for an account analyst include customer service, patients and financial statements. The most important skills for a cost accountant are reconciliations, variance analysis, and GAAP.
| Account Analyst | Cost Accountant | |
| Yearly salary | $55,829 | $60,528 |
| Hourly rate | $26.84 | $29.10 |
| Growth rate | 6% | 6% |
| Number of jobs | 106,327 | 39,925 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 77% |
| Average age | 44 | 44 |
| Years of experience | 4 | 4 |
Account analysts are responsible for analyzing account statements and financial transactions of an organization, resolving billing discrepancies, and managing account receivables. They assess the company's financial stability and identify opportunities to improve data analysis techniques by adhering to accounting principles and the company's operational protocols. Account analysts prepare financial reports, evaluate accounts payable, assist in tax audits, and release invoices. They should have excellent analytical and communication skills, especially on posting accurate account reports on the database.
A cost accountant specializes in determining the total cost incurred by a company from producing goods and services. Through the various financial data they collect, the cost accountant will devise plans and strategies that will be a vital factor in the next budget and marketing preparations of a company. Aside from this, a cost accountant is responsible for various tasks such as conducting research and analysis in different areas, keeping financial records and inventory, producing financial reports involving profitability and expenditures, and proposing a budget and other financial plans.
Account analysts and cost accountants have different pay scales, as shown below.
| Account Analyst | Cost Accountant | |
| Average salary | $55,829 | $60,528 |
| Salary range | Between $39,000 And $78,000 | Between $45,000 And $81,000 |
| Highest paying City | New York, NY | Edison, NJ |
| Highest paying state | New York | New Jersey |
| Best paying company | Venable | |
| Best paying industry | Finance | Energy |
There are a few differences between an account analyst and a cost accountant in terms of educational background:
| Account Analyst | Cost Accountant | |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 77% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between account analysts' and cost accountants' demographics:
| Account Analyst | Cost Accountant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 38.0% Female, 62.0% | Male, 52.6% Female, 47.4% |
| Race ratio | Black or African American, 8.9% Unknown, 4.0% Hispanic or Latino, 11.2% Asian, 12.1% White, 63.4% American Indian and Alaska Native, 0.5% | Black or African American, 8.7% Unknown, 4.0% Hispanic or Latino, 11.0% Asian, 12.2% White, 63.7% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 7% | 7% |