Grant accountant vs cost accountant

The differences between grant accountants and cost 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 grant accountant and a cost accountant. Additionally, a cost accountant has an average salary of $60,528, which is higher than the $59,472 average annual salary of a grant accountant.

The top three skills for a grant accountant include reconciliations, grants management and GAAP. The most important skills for a cost accountant are reconciliations, variance analysis, and GAAP.

Grant accountant vs cost accountant overview

	Grant Accountant	Cost Accountant
Yearly salary	$59,472	$60,528
Hourly rate	$28.59	$29.10
Growth rate	6%	6%
Number of jobs	36,034	39,925
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 68%	Bachelor's Degree, 77%
Average age	44	44
Years of experience	4	4

What does a grant accountant do?

A grant accountant is responsible for overseeing financial and grant services in an organization. They are responsible for performing accounting and administrative tasks such as gathering and analyzing data, preparing and processing financial statements, conducting audits and assessments, identifying and resolving discrepancies, and handling taxes. They may also prepare forecasts and models, supervise budgets, and submit regular reports to managers. Moreover, a grant accountant must comply with the state, federal, and local financial laws and regulations, keeping abreast of the latest changes.

What does a cost accountant do?

A cost accountant specializes in determining the total cost incurred by a company from producing goods and services. Through the various financial data they collect, the cost accountant will devise plans and strategies that will be a vital factor in the next budget and marketing preparations of a company. Aside from this, a cost accountant is responsible for various tasks such as conducting research and analysis in different areas, keeping financial records and inventory, producing financial reports involving profitability and expenditures, and proposing a budget and other financial plans.

Grant accountant vs cost accountant salary

Grant accountants and cost accountants have different pay scales, as shown below.

	Grant Accountant	Cost Accountant
Average salary	$59,472	$60,528
Salary range	Between $46,000 And $76,000	Between $45,000 And $81,000
Highest paying City	San Francisco, CA	Edison, NJ
Highest paying state	New York	New Jersey
Best paying company	Search for Common Ground	Google
Best paying industry	Professional	Energy

Differences between grant accountant and cost accountant education

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

	Grant Accountant	Cost Accountant
Most common degree	Bachelor's Degree, 68%	Bachelor's Degree, 77%
Most common major	Accounting	Accounting
Most common college	University of Pennsylvania	University of Pennsylvania

Grant accountant vs cost accountant demographics

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

	Grant Accountant	Cost Accountant
Average age	44	44
Gender ratio	Male, 37.8% Female, 62.2%	Male, 52.6% Female, 47.4%
Race ratio	Black or African American, 8.4% Unknown, 4.0% Hispanic or Latino, 10.8% Asian, 13.4% White, 62.9% American Indian and Alaska Native, 0.5%	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%
LGBT Percentage	7%	7%

Differences between grant accountant and cost accountant duties and responsibilities

Grant accountant example responsibilities.

Manage sub-awards to ensure compliance with federal and state regulations, and OMB circulars prior to payment process.
Manage all daily and biweekly payroll processes in accordance within establish deadlines.
Manage derivative accounting at global level and ensure accounting and economic hedging objectives are align.
Perform grant-related post-award functions, including budget and expense analysis, financial reporting and reconciliations.
Coordinate audit process with outside CPA firm, audit lead schedules, reports.
Supervise monthly payroll processing and tax calculations.

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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.

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Grant accountant vs cost accountant skills

Common grant accountant skills

Reconciliations, 9%
Grants Management, 5%
GAAP, 5%
Payroll, 5%
Financial Analysis, 4%
Expenditure Reports, 4%

Common cost accountant skills

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

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Updated January 8, 2025

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