Senior Cost Accountant Salary
Job Description for Senior Cost Accountant
A senior cost accountant has many responsibilities related to financial reporting and cost analysis. Generally, the senior cost accountant is responsible for maintaining detailed costs in the company's system and providing cost analysis which supports operations and sales and contributes to the company's success.Read More...
The main responsibility of those in this position is to review inventory and deal with manufacturing personnel in order to control and analyze standard costs. Inventory account valuations include (but are not limited to) costs for materials, labors, overhead, and off-site locations. Preparing annual account analysis cost reports which provide analytic insight and support is a must, in addition to reconciling units for evaluation purposes. This is all done in order for the senior cost accountant to maintain a standard cost system for the company, which keeps it functioning efficiently.
A great deal of accounting knowledge is required, but other important skills include micro-managing, effective data entry, and data management. A Bachelor's degree in Accounting or a significant equivalent is required. In addition, most positions require eight years or more of accounting experience and a highly-advanced computer skills. Excel knowledge is required for data entry and other purposes. Oracle knowledge is preferred, but not required.
Regular hours with a fixed schedule, sick days, and paid holidays can be expected for this position; few circumstances will call for working off-schedule. Travel is not required, but is optional and sometimes preferred.
Senior Cost Accountant Tasks
- Oversee the preparation and analysis of cost reports and monthly closing documents.
- Assist in developing cost accounting procedures.
- Review, analyze, track, inventory and reconcile stock variances; provide management with monthly inventory reports.
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Popular Skills for Senior Cost Accountant
Senior Cost Accountants report using a diverse set of skills on the job. Most notably, skills in Financial Analysis, Financial Reporting, Data Analysis, and Microsoft Excel are correlated to pay that is above average. It is often found that people who know Cost Accounting are also skilled in Microsoft Excel.
Pay by Experience Level for Senior Cost Accountant
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For Senior Cost Accountants, level of experience appears to be a somewhat less important part of the salary calculation — more experience does not correlate to noticeably higher pay. Individuals who have worked for fewer than five years bring in approximately $69K on average. Those in the five-to-10 year range can expect an average that is only a touch bigger at $70K. On average, Senior Cost Accountants make $73K following one to two decades on the job. After two decades in the workforce, the average Senior Cost Accountant generally earns more than ever; median pay for this group is estimated at $78K.
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