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Finance analyst/accountant vs project accountant

The differences between finance analyst/accountants and project 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 finance analyst/accountant and a project accountant. Additionally, a finance analyst/accountant has an average salary of $62,975, which is higher than the $60,467 average annual salary of a project accountant.

The top three skills for a finance analyst/accountant include reconciliations, financial analysis and general ledger accounts. The most important skills for a project accountant are reconciliations, project management, and contract terms.

Finance analyst/accountant vs project accountant overview

Finance Analyst/AccountantProject Accountant
Yearly salary$62,975$60,467
Hourly rate$30.28$29.07
Growth rate6%6%
Number of jobs118,04343,672
Job satisfaction-5
Most common degreeBachelor's Degree, 75%Bachelor's Degree, 72%
Average age4444
Years of experience44

What does a finance analyst/accountant do?

In a company setting, a finance analyst/accountant is in charge of handling and monitoring financial activities, ensuring efficiency and accuracy. Their responsibilities revolve around preparing financial reports, performing audits and risk assessments, and identifying any errors and inconsistencies, resolving them promptly and efficiently. They also conduct research and analysis to identify new business opportunities, evaluate the existing procedures to determine its strengths and weaknesses, and recommend solutions to optimize operations for financial growth. Furthermore, as a finance analyst/accountant, it is essential to uphold the company's policies and regulations, including its vision and mission.

What does a project accountant do?

A project accountant is primarily in charge of overseeing the budget and expenditures allocated for various projects within a company. Their responsibilities revolve around reviewing financial data and work plans, managing billing and financial reports, monitoring the flow of revenue, filing purchase orders and invoices, and processing payments to subcontractors, suppliers, and more. It is also vital to coordinate with all managing personnel to prepare necessary reports such as costs and taxes. Furthermore, it is essential to maintain data and records of all transactions, all while implementing the company's policies and regulations.

Finance analyst/accountant vs project accountant salary

Finance analyst/accountants and project accountants have different pay scales, as shown below.

Finance Analyst/AccountantProject Accountant
Average salary$62,975$60,467
Salary rangeBetween $47,000 And $84,000Between $46,000 And $79,000
Highest paying CityNew York, NYWashington, DC
Highest paying stateNew YorkNew Jersey
Best paying companyCitiPerficient
Best paying industryFinanceProfessional

Differences between finance analyst/accountant and project accountant education

There are a few differences between a finance analyst/accountant and a project accountant in terms of educational background:

Finance Analyst/AccountantProject Accountant
Most common degreeBachelor's Degree, 75%Bachelor's Degree, 72%
Most common majorAccountingAccounting
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Finance analyst/accountant vs project accountant demographics

Here are the differences between finance analyst/accountants' and project accountants' demographics:

Finance Analyst/AccountantProject Accountant
Average age4444
Gender ratioMale, 50.2% Female, 49.8%Male, 36.8% Female, 63.2%
Race ratioBlack or African American, 7.9% Unknown, 3.9% Hispanic or Latino, 10.2% Asian, 17.0% White, 60.6% American Indian and Alaska Native, 0.5%Black or African American, 8.7% Unknown, 4.0% Hispanic or Latino, 11.1% Asian, 12.3% White, 63.5% American Indian and Alaska Native, 0.5%
LGBT Percentage7%7%

Differences between finance analyst/accountant and project accountant duties and responsibilities

Finance analyst/accountant example responsibilities.

  • Manage the full cycle finance duties including A/P, A/R, G/L and fixed-asset accounting in accordance with GAAP standards.
  • Manage all monthly accruals for outsides consultant/service providers.
  • Develop transfer prices and manage manufacturing inventory in an ERP system.
  • Utilize accounting principles to manage quarterly regulatory settlement accruals and reporting requirements.
  • Develop, maintain financial models/applications (VBA Excel/Access) to automate and streamline business processes and perform financial analysis.
  • Implement process improvement initiatives for the payroll cash account that facilitate early recognition of unrecord payroll expenses.
  • Show more

Project accountant example responsibilities.

  • Maintain general ledgers, manage cash flow, prepare financial statements and bank reconciliations for multiple development and construction projects.
  • Assure timely accurate filing of all Medicare, Medicaid and commercial insurance claims.
  • Review the collection of Medicare, Medicaid and other receivables to ensure monthly goals are met.
  • Used DelTek to find discrepancies in employee charge hours.
  • Serve as major contributor in system conversion to new web-base ERP system.
  • Identify and rectify accounting errors that have incurred in the past and ensure adherence to IFRS.
  • Show more

Finance analyst/accountant vs project accountant skills

Common finance analyst/accountant skills
  • Reconciliations, 9%
  • Financial Analysis, 8%
  • General Ledger Accounts, 4%
  • Payroll, 4%
  • External Auditors, 4%
  • GAAP, 4%
Common project accountant skills
  • Reconciliations, 8%
  • Project Management, 6%
  • Contract Terms, 5%
  • Purchase Orders, 4%
  • Deltek, 4%
  • Revenue Recognition, 4%

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