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The differences between cash accountants 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 a cash accountant and a cost accountant. Additionally, a cost accountant has an average salary of $60,528, which is higher than the $57,971 average annual salary of a cash accountant.
The top three skills for a cash accountant include reconciliations, cash management and general ledger accounts. The most important skills for a cost accountant are reconciliations, variance analysis, and GAAP.
| Cash Accountant | Cost Accountant | |
| Yearly salary | $57,971 | $60,528 |
| Hourly rate | $27.87 | $29.10 |
| Growth rate | 6% | 6% |
| Number of jobs | 40,765 | 39,925 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 77% |
| Average age | 44 | 44 |
| Years of experience | 4 | 4 |
Cash accountants are accounting professionals who are responsible for recording revenues and expenses during the period when cash is received and paid, respectively. These accountants are required to prepare journal entries and perform cash account reconciliations to balance bank and book balances during month-end closing activities. They must prepare all bank deposits and generate financial and payroll reports that are submitted to the operational and executive management team. Cash accountants must also provide analysis and resolution about the discrepancies in the bank and general ledger entries to internal departments and bank representatives.
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.
Cash accountants and cost accountants have different pay scales, as shown below.
| Cash Accountant | Cost Accountant | |
| Average salary | $57,971 | $60,528 |
| Salary range | Between $44,000 And $76,000 | Between $45,000 And $81,000 |
| Highest paying City | - | Edison, NJ |
| Highest paying state | - | New Jersey |
| Best paying company | - | |
| Best paying industry | - | Energy |
There are a few differences between a cash accountant and a cost accountant in terms of educational background:
| Cash Accountant | Cost Accountant | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 77% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between cash accountants' and cost accountants' demographics:
| Cash Accountant | Cost Accountant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 31.2% Female, 68.8% | Male, 52.6% Female, 47.4% |
| Race ratio | Black or African American, 8.6% Unknown, 4.0% Hispanic or Latino, 11.0% Asian, 12.2% White, 63.8% 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% |