Grant accountant vs senior cost accountant

The differences between grant accountants and senior 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 senior cost accountant. Additionally, a senior cost accountant has an average salary of $65,824, 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 senior cost accountant are reconciliations, variance analysis, and GAAP.

Grant accountant vs senior cost accountant overview

	Grant Accountant	Senior Cost Accountant
Yearly salary	$59,472	$65,824
Hourly rate	$28.59	$31.65
Growth rate	6%	6%
Number of jobs	36,034	45,010
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 68%	Bachelor's Degree, 79%
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 senior cost accountant do?

A senior cost accountant is an individual who maintains detailed costs in a company's system and provides cost analysis that supports operations and sales. Senior cost accountants are required to review inventory and deal with manufacturing personnel to control and analyze standard costs. They must record cost information to be used in controlling expenditures as well as recommend cost efficiencies in new product layouts. Senior cost accountants must also provide reports that specify and compare factors affecting prices and profitability of products or services to the management.

Grant accountant vs senior cost accountant salary

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

	Grant Accountant	Senior Cost Accountant
Average salary	$59,472	$65,824
Salary range	Between $46,000 And $76,000	Between $48,000 And $89,000
Highest paying City	San Francisco, CA	San Francisco, CA
Highest paying state	New York	New Jersey
Best paying company	Search for Common Ground	OraSure Technologies
Best paying industry	Professional	Health Care

Differences between grant accountant and senior cost accountant education

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

	Grant Accountant	Senior Cost Accountant
Most common degree	Bachelor's Degree, 68%	Bachelor's Degree, 79%
Most common major	Accounting	Accounting
Most common college	University of Pennsylvania	University of Pennsylvania

Grant accountant vs senior cost accountant demographics

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

	Grant Accountant	Senior Cost Accountant
Average age	44	44
Gender ratio	Male, 37.8% Female, 62.2%	Male, 59.7% Female, 40.3%
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, 8.4% Unknown, 4.0% Hispanic or Latino, 10.8% Asian, 12.3% White, 64.1% American Indian and Alaska Native, 0.5%
LGBT Percentage	7%	7%

Differences between grant accountant and senior 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.

Senior cost accountant example responsibilities.

Manage quarterly inventory reserves in accordance with company policy which follows GAAP guidance.
Prepare internal financial reports for treasury manage accounts include in external compliance reports.
Process month end close including journal entries, account reconciliations, variance analysis, financial statement preparation and corporate reporting.
Provide user training and technical support for ERP and payroll systems.
Implement process improvements for monthly close process and SOX documentation retention.
Complete account reconciliations in accordance with maintaining the integrity of assets and liabilities for balance sheet inventory accounts.

Grant accountant vs senior cost accountant skills

Common grant accountant skills

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

Common senior cost accountant skills

Reconciliations, 9%
Variance Analysis, 6%
GAAP, 5%
Account Reconciliations, 4%
SR, 4%
SOX, 3%

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Grant Accountant vs Senior Cost Accountant

Updated January 8, 2025

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