Corporate accountant vs cost accountant

The differences between corporate 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 corporate accountant and a cost accountant. Additionally, a corporate accountant has an average salary of $64,300, which is higher than the $60,528 average annual salary of a cost accountant.

The top three skills for a corporate accountant include reconciliations, GAAP and account reconciliations. The most important skills for a cost accountant are reconciliations, variance analysis, and GAAP.

Corporate accountant vs cost accountant overview

	Corporate Accountant	Cost Accountant
Yearly salary	$64,300	$60,528
Hourly rate	$30.91	$29.10
Growth rate	6%	6%
Number of jobs	54,174	39,925
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 76%	Bachelor's Degree, 77%
Average age	44	44
Years of experience	4	4

What does a corporate accountant do?

A corporate accountant is an individual who prepares financial statements and maintains financial records of an organization to ensure that they comply with laws, regulations, and the organization's policies. Corporate accountants are required to analyze financial statements to help executives make financial decisions for the organization. They must collect ledgers and financial reports from divisional offices and prepare corporate financial statements for executives. Corporate accountants must also prepare budgets to allocate funds for spending for each department.

What does a cost accountant do?

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.

Corporate accountant vs cost accountant salary

Corporate accountants and cost accountants have different pay scales, as shown below.

	Corporate Accountant	Cost Accountant
Average salary	$64,300	$60,528
Salary range	Between $46,000 And $89,000	Between $45,000 And $81,000
Highest paying City	Washington, DC	Edison, NJ
Highest paying state	New York	New Jersey
Best paying company	Putnam Investments	Google
Best paying industry	Finance	Energy

Differences between corporate accountant and cost accountant education

There are a few differences between a corporate accountant and a cost accountant in terms of educational background:

	Corporate Accountant	Cost Accountant
Most common degree	Bachelor's Degree, 76%	Bachelor's Degree, 77%
Most common major	Accounting	Accounting
Most common college	University of Pennsylvania	University of Pennsylvania

Corporate accountant vs cost accountant demographics

Here are the differences between corporate accountants' and cost accountants' demographics:

	Corporate Accountant	Cost Accountant
Average age	44	44
Gender ratio	Male, 43.1% Female, 56.9%	Male, 52.6% Female, 47.4%
Race ratio	Black or African American, 8.6% Unknown, 4.0% Hispanic or Latino, 11.0% Asian, 13.0% White, 63.0% 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%

Differences between corporate accountant and cost accountant duties and responsibilities

Corporate accountant example responsibilities.

Lead successful implementation of PeopleSoft fix asset software module.
Manage and monitor accounting procedures for compliance with Sarbanes-Oxley and coordinate and facilitate external audit requirements.
Perform month-end closing responsibilities, month-end accruals, expense allocations across business units and legal entities, and account reconciliations.
Perform general accounting assignments including accruals, profit and loss reports and reconciliations.
Prepare monthly journal entries and variance reconciliations primarily relating to compensation, operational accruals, investments, and partnerships.
Perform detailed and extensive schedules and analysis for annual audits by an outside CPA firm as required by law.

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Cost accountant example responsibilities.

Manage ledgers and perform month end journal entries.
Manage the payroll with ADP system and account receivable.
Manage costing control as well as accounts payable (A/P) and accounts receivable (A/R).
Prepare internal financial reports for treasury manage accounts include in external compliance reports.
Prepare raw material and WIP inventory reconciliations.
Develop tracking of GAAP inventory valuation for all inventory inherit from the bankrupt former company.

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Corporate accountant vs cost accountant skills

Common corporate accountant skills

Reconciliations, 14%
GAAP, 6%
Account Reconciliations, 6%
CPA, 5%
General Ledger Accounts, 5%
External Auditors, 4%

Common cost accountant skills

Reconciliations, 9%
Variance Analysis, 6%
GAAP, 4%
Account Reconciliations, 3%
Cost Analysis, 3%
Financial Analysis, 3%

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Updated January 8, 2025

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