Cost accountant vs chartered accountant

The differences between cost accountants and chartered 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 cost accountant and a chartered accountant. Additionally, a chartered accountant has an average salary of $65,776, which is higher than the $60,528 average annual salary of a cost accountant.

The top three skills for a cost accountant include reconciliations, variance analysis and GAAP. The most important skills for a chartered accountant are internal audit, financial statements, and income tax returns.

Cost accountant vs chartered accountant overview

	Cost Accountant	Chartered Accountant
Yearly salary	$60,528	$65,776
Hourly rate	$29.10	$31.62
Growth rate	6%	6%
Number of jobs	39,925	33,005
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 77%	Bachelor's Degree, 72%
Average age	44	44
Years of experience	4	4

Cost accountant vs chartered accountant salary

Cost accountants and chartered accountants have different pay scales, as shown below.

	Cost Accountant	Chartered Accountant
Average salary	$60,528	$65,776
Salary range	Between $45,000 And $81,000	Between $42,000 And $102,000
Highest paying City	Edison, NJ	-
Highest paying state	New Jersey	-
Best paying company	Google	-
Best paying industry	Energy	-

Differences between cost accountant and chartered accountant education

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

	Cost Accountant	Chartered Accountant
Most common degree	Bachelor's Degree, 77%	Bachelor's Degree, 72%
Most common major	Accounting	Accounting
Most common college	University of Pennsylvania	University of Pennsylvania

Cost accountant vs chartered accountant demographics

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

	Cost Accountant	Chartered Accountant
Average age	44	44
Gender ratio	Male, 52.6% Female, 47.4%	Male, 61.0% Female, 39.0%
Race ratio	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%	Black or African American, 7.5% Unknown, 3.9% Hispanic or Latino, 9.8% Asian, 18.1% White, 60.2% American Indian and Alaska Native, 0.5%
LGBT Percentage	7%	7%

Differences between cost accountant and chartered accountant duties and responsibilities

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.

Chartered accountant example responsibilities.

Manage the review, enhancement, and creation of department policy and procedure documentation require for Sarbanes-Oxley auditing and compliance.
Provision of professional and timely taxation advice and services to clients.
Monitor deposits and withdrawals of revenue and expenses, review payroll, and ensure accurate processing and timely bank reconciliations.
Monitor bond and covenant requirements, providing tax return and audit information to external contacts.

Cost accountant vs chartered accountant skills

Common cost accountant skills

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

Common chartered accountant skills

Internal Audit, 33%
Financial Statements, 14%
Income Tax Returns, 11%
Balance Sheet, 6%
Audit Reports, 5%
Tax Audits, 5%

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Cost Accountant vs Chartered Accountant

Updated January 8, 2025

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