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.
There is more than meets the eye when it comes to being a cost accounting manager. For example, did you know that they make an average of $37.62 an hour? That's $78,260 a year!
Between 2018 and 2028, the career is expected to grow 16% and produce 104,700 job opportunities across the U.S.
There are certain skills that many cost accounting managers 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.
When it comes to the most important skills required to be a cost accounting manager, we found that a lot of resumes listed 10.9% of cost accounting managers included financial statements, while 6.7% of resumes included cost reduction, and 6.5% of resumes included general ledger accounts. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the cost accounting manager job title. But what industry to start with? Most cost accounting managers actually find jobs in the manufacturing and technology industries.
If you're interested in becoming a cost accounting manager, one of the first things to consider is how much education you need. We've determined that 78.2% of cost accounting managers have a bachelor's degree. In terms of higher education levels, we found that 14.5% of cost accounting managers have master's degrees. Even though most cost accounting managers have a college degree, it's impossible 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 accounting manager. When we researched the most common majors for a cost accounting manager, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on cost accounting manager resumes include associate degree degrees or high school diploma degrees.
You may find that experience in other jobs will help you become a cost accounting manager. In fact, many cost accounting manager jobs require experience in a role such as cost accountant. Meanwhile, many cost accounting managers also have previous career experience in roles such as accounting manager or controller.