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Senior project accountant vs senior cost accountant

The differences between senior project 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 senior project accountant and a senior cost accountant. Additionally, a senior cost accountant has an average salary of $65,824, which is higher than the $64,388 average annual salary of a senior project accountant.

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

Senior project accountant vs senior cost accountant overview

Senior Project AccountantSenior Cost Accountant
Yearly salary$64,388$65,824
Hourly rate$30.96$31.65
Growth rate6%6%
Number of jobs45,27745,010
Job satisfaction--
Most common degreeBachelor's Degree, 76%Bachelor's Degree, 79%
Average age4444
Years of experience44

What does a senior project accountant do?

Senior Project Accountants are responsible for providing support in financial management for a project. Their duties include creating financial appraisals, producing project forecasts, and developing project financial reports. They are responsible for facilitating financial planning, identifying budget deviances, performing impact analysis, and assisting in risk management planning. Senior Project Accountants also establish financial governance for a project, improve financial tools, test data, and prepare a business case analysis for senior management. They participate in project meetings, assist in internal audits, and ensure operations adhere to corporate financial legislations.

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.

Senior project accountant vs senior cost accountant salary

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

Senior Project AccountantSenior Cost Accountant
Average salary$64,388$65,824
Salary rangeBetween $48,000 And $85,000Between $48,000 And $89,000
Highest paying CityWashington, DCSan Francisco, CA
Highest paying stateMassachusettsNew Jersey
Best paying companyDahl ConsultingOraSure Technologies
Best paying industryTechnologyHealth Care

Differences between senior project accountant and senior cost accountant education

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

Senior Project AccountantSenior Cost Accountant
Most common degreeBachelor's Degree, 76%Bachelor's Degree, 79%
Most common majorAccountingAccounting
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Senior project accountant vs senior cost accountant demographics

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

Senior Project AccountantSenior Cost Accountant
Average age4444
Gender ratioMale, 37.3% Female, 62.7%Male, 59.7% Female, 40.3%
Race ratioBlack 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%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 Percentage7%7%

Differences between senior project accountant and senior cost accountant duties and responsibilities

Senior project accountant example responsibilities.

  • Manage daily operations of the accounting department to include contract billing, accounts receivable, and monthly backlog/accrual reconciliations.
  • Manage the review, enhancement, and creation of department policy and procedure documentation require for Sarbanes-Oxley auditing and compliance.
  • Produce financial reports on a timely basis for building construction decision making using various job cost methods in conformity to GAAP.
  • Provide recommendations and assist with development, documentation, and implementation of agree process improvement procedures according to GAAP and SOX.
  • Audit and approve the supporting documents of all invoices of the company in accordance with the requirements regulations by SOX.
  • Prepare schedules for recurring accruals and deferrals and amortize monthly.
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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.
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Senior project accountant vs senior cost accountant skills

Common senior project accountant skills
  • Reconciliations, 7%
  • Project Management, 6%
  • GAAP, 5%
  • Financial Reports, 4%
  • Payroll, 4%
  • Accruals, 4%
Common senior cost accountant skills
  • Reconciliations, 9%
  • Variance Analysis, 6%
  • GAAP, 5%
  • Account Reconciliations, 4%
  • SR, 4%
  • SOX, 3%

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