How To Become A Cost Accounting Manager: What It Is and Career Path

What is a cost accounting manager and how to become one

Updated January 8, 2025

4 min read

Quoted expert

Janet Tarase

Cost Accounting Managers set up material, labor cost benchmarks, cost accounting systems design, and implementation. These professionals examine and recommend cost-cutting measures in the manufacturing process. Furthermore, they compile a corporation or organization's financial reports. These financial experts gather, evaluate, and compile pertinent data for senior management to consider when making financial decisions. Examining operational data, analyzing manufacturing costs, and gathering accounting data from numerous departments are some of the responsibilities of a Cost Accounting Manager. They play a crucial part in the production budget as well as the development of new cost-cutting initiatives.

Outstanding analytical, organizational, and communication abilities are valuable skill sets that are required. You must have a cutting-edge understanding of the financial world, and a bachelor's degree in accounting, finance, or a related discipline is usually required. Prior managerial experience and expertise in enterprise resource planning tools can also help. Cost Accounting Managers earn between $75,326 and $133,521 yearly.

What general advice would you give to a cost accounting manager?

Janet Tarase

Lead Accounting Faculty / Accounting Department Chair, Red Rocks Community College

Create a vision board to set your yearly objectives and a long-term strategic plan that includes your professional and personal goal aspirations; be prepared to modify both of these guides as things change in your life. Join LinkedIn, if you haven't already, update it and make sure it is current. Make connections with a local professionals' group and create a network of like-minded, goal-oriented individuals. Also find a mentor or ask senior employees for their advice and counseling. Clean up your social media accounts or at the very least mark your questionable content as private so you are not sharing it publicly; become the professional you want to be. Continue your professional development, either through your employer, free online programs, or by furthering your education. Keep track of your accomplishments and continue to update your biography and resume. Finally, be appreciative and modest - thank those that help you and make sure to acknowledge those who participated in your successes.

ScoreCost Accounting ManagerUS Average

Salary

7.0

Avg. Salary $89,286

Avg. Salary $59,228

Stability level

9.5

Growth rate 17%

Growth rate 0.3%

Diversity

3.3

Race

American Indian and Alaska Native 0.34%

Asian 9.22%

Black or African American 7.60%

Hispanic or Latino 14.58%

Unknown 4.11%

White 64.16%

Gender

female 28.33%

male 71.67%

Age - 46

Race

American Indian and Alaska Native 3.00%

Asian 7.00%

Black or African American 14.00%

Hispanic or Latino 19.00%

White 57.00%

Gender

female 47.00%

male 53.00%

Age - 46

Stress level

9.5

Stress level is very high

7.1 - high

Complexity level

9.3

Complexity level is advanced

7 - challenging

Work life balance

4.9

Work life balance is fair

6.4 - fair

Key steps to become a cost accounting manager

Explore cost accounting manager education requirements

Most common cost accounting manager degrees

Bachelor's

78.2 %

Master's

14.5 %

Associate

5.3 %

Start to develop specific cost accounting manager skills

Skills	Percentages
Variance Analysis	4.60%
Financial Analysis	4.52%
Reconciliations	4.38%
Financial Reports	4.17%
Product Cost	3.79%

Complete relevant cost accounting manager training and internships

Accountants spend an average of 1-3 months on post-employment, on-the-job training. New cost accounting managers learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a cost accounting manager based on U.S. Bureau of Labor Statistics data and data from real cost accounting manager resumes.

Research cost accounting manager duties and responsibilities

Manage the monthly analysis of variances which include PPV, MUV, substitution and labor.
Lead ERP system integration team and restructure manufacturing accounting system of newly acquire facility.
Manage payroll and all taxation matters, coordinate independent audit; communicate with outside organizations and agencies.
Direct the development, administration, and standards necessary to maintain financial controls in compliance with GAAP and SOX.

Prepare your cost accounting manager resume

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