Cost Accountant Education Requirements

The role of a cost accountant is to analysis the various costs incurred by the company and properly account for it in such a manner that the over costing comes down and the profits go up. By having background knowledge in cost accounting techniques, candidates should be able to fit into this role easily. There are also private training centers that train students on financial management that includes cost accounting. Such courses should be chosen so as to develop advanced knowledge in the subject of cost accounting. The following are the educational requirements, training and certification requirements and salary information related to this career opportunity.

Cost Accountant Educational Requirements

  • Candidates who are aspiring to become cost accountants should complete their basic education and enroll into courses like Bachelor of commerce, Bachelor of Science in accounting, bachelor or master in business administration, etc.
  • Candidates should learn the cost accounting techniques well like job costing, batch costing, ABC costing, etc. Each type of costing has its own applicability, advantages and disadvantages.
  • Candidates should know which type of costing is suitable to the kind of production done in the firm and accordingly apply them.
  • Candidates should learn budgeting and costing so that the predicted profitability can be achieved by the firm.

Cost Accountant Degree, Courses, and Certifications

The following are some of the courses that will be suggested to candidates who would like to pursue the career as a cost accountant. They are:

  • Bachelor’s – Business Administration: Accounting
  • Master’s – Accounting and Financial Management
  • Master of Science in Accountancy
  • Master of Business Administration in Accounting Concentration
  • PhD in Business Administration – Advanced Accounting

Cost Accountant Qualifications and Training

Most of the employers choose candidates from good management institutes with specialization in finance for the job of a cost accountant. However getting a separate training on this subject can be of great help as it allows the candidate to learn the subject at a greater depth and apply them in real job situations.

Cost Accountant Colleges and Universities

Cost Accountant Wages and Salaries

Candidates who would like to become a cost accountant can find opportunities in popular industries like manufacturing and distribution, food manufacturing, construction, steel or metal manufacturing, medical device manufacturing, etc. The annual pay scale of a cost accountant lies between $33,000 and $68,000. The median salary is about $46,000 per year. These estimates are taken from Pay Scale website after conducting extensive research in the United States. These are presented in the form of National Salary data.

Category: Accountant Education Requirements

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