Cost Accountant

They love ledgers...they make friends with figures...they find calculations comforting...they seek support from statements...they would like to have numbers as neighbors---they are Cost Accountants...they are responsible for a decrease in the fiscal wastefulness of an organization and increase in its profit.

What do Cost Accountants do?

A Cost Accountant would typically need to:

The Cost Accountant generally works in an office environment out of the Accounting department but is expected to be quite familiar with all production operations and regularly visit all significant company operations.

Generally, Cost Accountants are not in a supervisory position. You will be required to work closely with upper management. When a company's production operations and inventory warehouses are spread out, some on-the-job travel may be required. The dress code for a Cost Accountant depends on the location, sector, size, and type of company, but by and large, a business casual attire is recommended.

Candidates with two to five years of experience in Cost Accounting would have a better chance in the job market. It may be worthwhile to gain work experience in a manufacturing facility or warehouse where you were successfully manipulating large databases.

You may be expected to have substantive expertise in job costing or process costing, depending upon the manufacturing system that the company uses. If the position is in an industry that requires considerable knowledge of operations, they would prefer candidates with previous experience in the area.

An accredited bachelor's degree in accounting, economics, business, or finance with a sound understanding of bookkeeping, accounting principles and best practices, accounting laws, standards and regulations, cost systems, statistics, and Generally Accepted Accounting Principles (GAAP) is an essential prerequisite. Businesses are increasingly seeking candidates with a master's degree in business administration (MBA).

Some employers prefer candidates with a certified public Accountant or an accredited management Accountant license and accreditation from the International Accounting Standards Board (IASB). Proficiency in Microsoft Suite and Accounting software like Fresh Books, Quick Books, MAPICS, and Zoho would add considerable value to your resume.

If the company operates in one or more foreign locations, certification in the country's official language may weigh the odds in your favor.

Cost Accountants need to be familiar with production operations within their company. So, promotion from within the company is fairly typical. However, a Cost Accountant with excellent business account credentials may be able to move to a new company when a job opens up.

Cost Accountants are often entry-level positions for Accounting management. Cost Accountants often move up to other management-level Accounting jobs with higher pay. Because they are familiar with the aspects of production within their company, it is not unusual for them to move up to a higher-level Accounting job within that same company.

Experience as a Cost Accountant, however, sets one up to take on any number of management-level Accounting positions. With experience and education, Cost Accountants may advance to becoming Budget Directors, Internal Auditing Managers, Accounting Managers, and eventually Controllers, Treasurers, or Chief Financial Officers. It is not unusual for someone who began in Cost Accounting to become a Corporate President.

Problem-solvers who can analyze and improve cost control and efficiency…