What is a Cost Accountant

The cost accountant is responsible for analyzing ongoing process constraints, costing projects, analyzing profit margins, and linking costs to activities. They build and manage data accumulation systems to provide costing information to management. They also plan budgets and prepare reports for the company and its various departments. Asides from this, they prepare periodic cost forecasts for operational schedules. Additionally, they analyze periodic financial reports to identify and recommend cost-effective strategies for improvements.

Generally, cost accountants have a minimum of a bachelor's degree in accounting, finance, or a related field, with at least two years of related experience. Applicants must be familiar with accounting software, such as FreshBooks and QuickBooks. You must also know about the generally accepted accounting principles. Not just this, but you must possess analytical, time management, collaboration, and computer skills. Cost accountants can either practice independently or work with a firm. The average salary that a cost accountant earns is $60,051. It varies from $54,000 to $81,000.

There is more than meets the eye when it comes to being a Cost Accountant. For example, did you know that they make an average of $27.11 an hour? That's $56,383 a year!

Between 2018 and 2028, the career is expected to grow 6% and produce 90,700 job opportunities across the U.S.

What Does a Cost Accountant Do

There are certain skills that many Cost Accountants have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed Organizational skills, Analytical skills and Communication skills.

Learn more about what a Cost Accountant does

How To Become a Cost Accountant

If you're interested in becoming a Cost Accountant, one of the first things to consider is how much education you need. We've determined that 76.8% of Cost Accountants have a bachelor's degree. In terms of higher education levels, we found that 10.2% of Cost Accountants have master's degrees. Even though most Cost Accountants have a college degree, it's possible to become one with only a high school degree or GED.

Choosing the right major is always an important step when researching how to become a Cost Accountant. When we researched the most common majors for a Cost Accountant, we found that they most commonly earn Bachelor's Degree degrees or Associate Degree degrees. Other degrees that we often see on Cost Accountant resumes include Master's Degree degrees or High School Diploma degrees.

You may find that experience in other jobs will help you become a Cost Accountant. In fact, many Cost Accountant jobs require experience in a role such as Accountant. Meanwhile, many Cost Accountants also have previous career experience in roles such as Staff Accountant or Senior Accountant.

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  1. Texas Instruments Jobs (19)
  2. IBM Jobs (39)
  3. Honeywell Jobs (20)
  4. The Dow Chemical Company Jobs (23)
  5. Motorola Solutions Jobs (25)
Average Salary
$56,383
Average Salary
Job Growth Rate
6%
Job Growth Rate
Job Openings
38,683
Job Openings
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Average Salary for a Cost Accountant

Cost Accountants in America make an average salary of $56,383 per year or $27 per hour. The top 10 percent makes over $71,000 per year, while the bottom 10 percent under $44,000 per year.
Average Salary
$56,383
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12 Cost Accountant Resume Examples

Learn How To Write a Cost Accountant Resume

At Zippia, we went through countless Cost Accountant resumes and compiled some information about how to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

View Cost Accountant Resume Examples And Templates

And if you’re looking for a job, here are the five top employers hiring now:

  1. Texas Instruments Jobs (19)
  2. IBM Jobs (39)
  3. Honeywell Jobs (20)
  4. The Dow Chemical Company Jobs (23)
  5. Motorola Solutions Jobs (25)

Choose From 10+ Customizable Cost Accountant Resume templates

Zippia allows you to choose from different easy-to-use Cost Accountant templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Cost Accountant resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.

Cost Accountant Resume
Cost Accountant Resume
Cost Accountant Resume
Cost Accountant Resume
Cost Accountant Resume
Cost Accountant Resume
Cost Accountant Resume
Cost Accountant Resume
Cost Accountant Resume
Cost Accountant Resume
Cost Accountant Resume
Cost Accountant Resume
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Cost Accountant Resume
Cost Accountant Resume
Cost Accountant Resume

Cost Accountant Demographics

Cost Accountant Gender Statistics

male

52.6 %

female

47.4 %

Cost Accountant Ethnicity Statistics

White

67.2 %

Asian

11.0 %

Hispanic or Latino

10.8 %

Cost Accountant Foreign Languages Spoken Statistics

Spanish

53.7 %

Chinese

7.8 %

French

6.7 %
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Cost Accountant Education

Cost Accountant Majors

26.5 %
8.5 %

Cost Accountant Degrees

Bachelors

76.8 %

Associate

10.7 %

Masters

10.2 %

Top Colleges for Cost Accountants

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

2. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

3. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

4. SUNY at Binghamton

Vestal, NY • Private

In-State Tuition
$9,808
Enrollment
13,990

5. Villanova University

Villanova, PA • Private

In-State Tuition
$53,308
Enrollment
6,819

6. San Diego State University

San Diego, CA • Private

In-State Tuition
$7,488
Enrollment
30,018

7. Bentley University

Waltham, MA • Private

In-State Tuition
$49,880
Enrollment
4,177

8. Boston University

Boston, MA • Private

In-State Tuition
$53,948
Enrollment
17,238

9. SUNY Stony Brook

Stony Brook, NY • Private

In-State Tuition
$9,625
Enrollment
17,407

10. New York University

New York, NY • Private

In-State Tuition
$51,828
Enrollment
26,339
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Online Courses For Cost Accountant That You May Like

Cost Accounting: Introduction to Management Accounting
udemy
4.4
(799)

Learn Cost Accounting for Management. Includes Process Costing, ABC Systems, Variance Analysis, Cash Budgets and more...

Managerial Accounting / Cost Accounting
udemy
4.5
(911)

Managerial and cost accounting comprehensive course taught bay a practicing Certified Public Accountant (CPA)...

Financial Accounting Payroll
udemy
4.4
(889)

Payroll calculations - federal income tax, social security, Medicare - Payroll journal entries posted to ledger accounts...

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Top Skills For a Cost Accountant

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 10.9% of Cost Accountants listed Financial Statements on their resume, but soft skills such as Organizational skills and Analytical skills are important as well.

  • Financial Statements, 10.9%
  • General Ledger Accounts, 7.6%
  • Variance Analysis, 7.0%
  • Raw Materials, 5.5%
  • Special Projects, 4.5%
  • Other Skills, 64.5%

Best States For a Cost Accountant

Some places are better than others when it comes to starting a career as a Cost Accountant. The best states for people in this position are Washington, Massachusetts, New Jersey, and New York. Cost Accountants make the most in Washington with an average salary of $64,706. Whereas in Massachusetts and New Jersey, they would average $64,178 and $63,996, respectively. While Cost Accountants would only make an average of $63,430 in New York, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. District of Columbia

Total Cost Accountant Jobs:
262
Highest 10% Earn:
$88,000
Location Quotient:
2.19
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

2. Nevada

Total Cost Accountant Jobs:
178
Highest 10% Earn:
$75,000
Location Quotient:
1.2
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

3. Massachusetts

Total Cost Accountant Jobs:
685
Highest 10% Earn:
$78,000
Location Quotient:
1.05
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here
Full List Of Best States For Cost Accountants

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Top Cost Accountant Employers

We've made finding a great employer to work for easy by doing the hard work for you. We looked into employers that employ Cost Accountants and discovered their number of Cost Accountant opportunities and average salary. Through our research, we concluded that Robert Half International was the best, especially with an average salary of $52,117. Boeing follows up with an average salary of $53,051, and then comes IBM with an average of $75,257. In addition, we know most people would rather work from home. So instead of having to change careers, we identified the best employers for remote work as a Cost Accountant. The employers include Barnes & Noble, Xylem, and Robert Half International

Most Common Employers For Cost Accountant

RankCompanyZippia ScoreAverage Cost Accountant SalaryAverage Salary
1$84,861
2$75,413
3$75,257
4$72,907
5$69,221
6$67,790

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