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
- Review, analyze, track, inventory and reconcile stock variances; provide management with monthly inventory reports.
- Assist in developing cost accounting procedures.
- Oversee the preparation and analysis of cost reports and monthly closing documents.
Senior Cost Accountant Job Listings
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Popular Skills for Senior Cost Accountant
Survey results show that Senior Cost Accountants use a fair number of skills. Most notably, skills in Financial Analysis, Cost Accounting, Microsoft Excel, and Financial Reporting are correlated to pay that is above average. Skills that pay less than market rate include Data Analysis. 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.
Experience and pay tend to be weakly linked for Senior Cost Accountants — those with more experience do not necessarily bring in higher earnings. Senior Cost Accountants in the early stages of their careers take home approximately $67K on average. The average for people in the five-to-10 year group is only a little larger at $69K. On average, Senior Cost Accountants make $73K following one to two decades on the job. Senior Cost Accountants who have acquired more than two decades of experience generally do see greater compensation; their average income is approximately $78K.