Accountant vs project accountant

The differences between accountants and project 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 accountant and a project accountant. Additionally, a project accountant has an average salary of $60,467, which is higher than the $54,890 average annual salary of an accountant.

The top three skills for an accountant include reconciliations, general ledger accounts and account reconciliations. The most important skills for a project accountant are reconciliations, project management, and contract terms.

Accountant vs project accountant overview

	Accountant	Project Accountant
Yearly salary	$54,890	$60,467
Hourly rate	$26.39	$29.07
Growth rate	6%	6%
Number of jobs	60,073	43,672
Job satisfaction	3	5
Most common degree	Bachelor's Degree, 71%	Bachelor's Degree, 72%
Average age	44	44
Years of experience	4	4

What does an accountant do?

An accountant is an individual whose primary task is to prepare, keep, examine, and interpret financial records. Most accountants are in charge of a wide scope of finance-related tasks, either for private individuals or for large-scale businesses and organizations they are employed with. They make sure that financial statements and records are accurate and comply with laws and regulations. They also compute for taxes, prepare tax returns, and ensure being paid properly and on time. As they keep track and record the flow of money, they can offer guidance on how to reduce costs, enhance revenue, and help in profit maximization.

What does a project accountant do?

A project accountant is primarily in charge of overseeing the budget and expenditures allocated for various projects within a company. Their responsibilities revolve around reviewing financial data and work plans, managing billing and financial reports, monitoring the flow of revenue, filing purchase orders and invoices, and processing payments to subcontractors, suppliers, and more. It is also vital to coordinate with all managing personnel to prepare necessary reports such as costs and taxes. Furthermore, it is essential to maintain data and records of all transactions, all while implementing the company's policies and regulations.

Accountant vs project accountant salary

Accountants and project accountants have different pay scales, as shown below.

	Accountant	Project Accountant
Average salary	$54,890	$60,467
Salary range	Between $41,000 And $72,000	Between $46,000 And $79,000
Highest paying City	Washington, DC	Washington, DC
Highest paying state	New York	New Jersey
Best paying company	Meta	Perficient
Best paying industry	Technology	Professional

Differences between accountant and project accountant education

There are a few differences between an accountant and a project accountant in terms of educational background:

	Accountant	Project Accountant
Most common degree	Bachelor's Degree, 71%	Bachelor's Degree, 72%
Most common major	Accounting	Accounting
Most common college	University of Pennsylvania	University of Pennsylvania

Accountant vs project accountant demographics

Here are the differences between accountants' and project accountants' demographics:

	Accountant	Project Accountant
Average age	44	44
Gender ratio	Male, 38.2% Female, 61.8%	Male, 36.8% Female, 63.2%
Race ratio	Black or African American, 8.6% Unknown, 4.0% Hispanic or Latino, 10.9% Asian, 15.0% White, 61.1% American Indian and Alaska Native, 0.5%	Black or African American, 8.7% Unknown, 4.0% Hispanic or Latino, 11.1% Asian, 12.3% White, 63.5% American Indian and Alaska Native, 0.5%
LGBT Percentage	7%	7%

Differences between accountant and project accountant duties and responsibilities

Accountant example responsibilities.

Manage preparation of the statutory financial statements and financial aggregates in compliance with IFRS and local applicable norms.
Manage personnel financial matters including salaries, taxation procedures and other relate issues.
Manage and monitor accounting procedures for compliance with Sarbanes-Oxley and coordinate and facilitate external audit requirements.
Reconstruct and improve many balance sheet account reconciliations for easier reading and interpretation by senior level management.
Perform complex general accounting functions, including preparation of journal entries, account analysis and balance sheet reconciliations.
Maintain general ledgers and preparation of monthly and other periodic financial reports in accordance with GAAP and international accounting standards.

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Project accountant example responsibilities.

Maintain general ledgers, manage cash flow, prepare financial statements and bank reconciliations for multiple development and construction projects.
Assure timely accurate filing of all Medicare, Medicaid and commercial insurance claims.
Review the collection of Medicare, Medicaid and other receivables to ensure monthly goals are met.
Used DelTek to find discrepancies in employee charge hours.
Serve as major contributor in system conversion to new web-base ERP system.
Identify and rectify accounting errors that have incurred in the past and ensure adherence to IFRS.

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Accountant vs project accountant skills

Common accountant skills

Reconciliations, 14%
General Ledger Accounts, 6%
Account Reconciliations, 6%
GAAP, 5%
Payroll Tax Returns, 5%
Customer Service, 5%

Common project accountant skills

Reconciliations, 8%
Project Management, 6%
Contract Terms, 5%
Purchase Orders, 4%
Deltek, 4%
Revenue Recognition, 4%

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Updated January 8, 2025

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