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The differences between finance reporting 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 reporting accountant and a project accountant. Additionally, a finance reporting accountant has an average salary of $67,545, which is higher than the $60,467 average annual salary of a project accountant.
The top three skills for a finance reporting accountant include GAAP, reconciliations and external auditors. The most important skills for a project accountant are reconciliations, project management, and contract terms.
| Finance Reporting Accountant | Project Accountant | |
| Yearly salary | $67,545 | $60,467 |
| Hourly rate | $32.47 | $29.07 |
| Growth rate | 6% | 6% |
| Number of jobs | 112,234 | 43,672 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 79% | Bachelor's Degree, 72% |
| Average age | 44 | 44 |
| Years of experience | 4 | 4 |
A finance reporting accountant is responsible for monitoring the efficiency and accuracy of the company's financial reporting procedures. Finance reporting accountants analyze the financial statements of the company, including its expenses, balance sheets, revenues, cash flow, and other related financial information and discuss it to the management. They also provide strategic recommendations to minimize loss through cost-reduction operational processes and identifying business opportunities to increase profits. A finance reporting accountant should have excellent knowledge of the accounting principles and disciplines, evaluating financial forecasts and resolving account discrepancies.
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 reporting accountants and project accountants have different pay scales, as shown below.
| Finance Reporting Accountant | Project Accountant | |
| Average salary | $67,545 | $60,467 |
| Salary range | Between $50,000 And $90,000 | Between $46,000 And $79,000 |
| Highest paying City | Washington, DC | Washington, DC |
| Highest paying state | Massachusetts | New Jersey |
| Best paying company | Western Alliance Bank | Perficient |
| Best paying industry | Retail | Professional |
There are a few differences between a finance reporting accountant and a project accountant in terms of educational background:
| Finance Reporting Accountant | Project Accountant | |
| Most common degree | Bachelor's Degree, 79% | Bachelor's Degree, 72% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance reporting accountants' and project accountants' demographics:
| Finance Reporting Accountant | Project Accountant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 45.3% Female, 54.7% | Male, 36.8% Female, 63.2% |
| Race ratio | Black or African American, 8.4% Unknown, 4.0% Hispanic or Latino, 10.8% Asian, 15.6% White, 60.8% 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 Percentage | 7% | 7% |