Will “Cost Accountant” be Replaced By Robots? 🤔

98% Chance of Automation

“Cost Accountant” will almost certainly be replaced by robots.

This job is ranked #671 out of #702. A higher ranking (i.e., a lower number) means the job is less likely to be replaced.

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Job Description

Compute, classify, and record numerical data to keep financial records complete. Perform any combination of routine calculating, posting, and verifying duties to obtain primary financial data for use in maintaining accounting records. May also check the accuracy of figures, calculations, and postings pertaining to business transactions recorded by other workers.

Job Details

The SOC (Standard Occupational Classification) code is 43-3031.00
The Mean Annual Wage in the U.S. is $ 40,220.00
The Mean Hourly Wage is $ 19.00
Currently, there are 1,566,960 people on this job

☝️ Information based on the reference occupation “Bookkeeping, Accounting, and Auditing Clerks”.

Also Known As…

Tasks for “Cost Accountant”

Compile budget data and documents, based on estimated revenues and expenses and previous budgets.
Check figures, postings, and documents for correct entry, mathematical accuracy, and proper codes.
Receive, record, and bank cash, checks, and vouchers.
Compute deductions for income and social security taxes.
Debit, credit, and total accounts on computer spreadsheets and databases, using specialized accounting software.
Perform financial calculations, such as amounts due, interest charges, balances, discounts, equity, and principal.
Calculate and prepare checks for utilities, taxes, and other payments.
Maintain inventory records.
Calculate, prepare, and issue bills, invoices, account statements, and other financial statements according to established procedures.
Comply with federal, state, and company policies, procedures, and regulations.
Complete and submit tax forms and returns, workers' compensation forms, pension contribution forms, and other government documents.
Calculate costs of materials, overhead, and other expenses, based on estimates, quotations and price lists.
Operate 10-key calculators, typewriters, and copy machines to perform calculations and produce documents.
Compare computer printouts to manually maintained journals to determine if they match.
Perform general office duties, such as filing, answering telephones, and handling routine correspondence.
Reconcile records of bank transactions.
Compile statistical, financial, accounting, or auditing reports and tables pertaining to such matters as cash receipts, expenditures, accounts payable and receivable, and profits and losses.
Prepare purchase orders and expense reports.
Operate computers programmed with accounting software to record, store, and analyze information.
Prepare and process payroll information.
Monitor status of loans and accounts to ensure that payments are up to date.
Transfer details from separate journals to general ledgers or data processing sheets.
Match order forms with invoices, and record the necessary information.
Prepare trial balances of books.
Code documents according to company procedures.
Perform personal bookkeeping services.
Classify, record, and summarize numerical and financial data to compile and keep financial records, using journals and ledgers or computers.
Reconcile or note and report discrepancies found in records.
Prepare bank deposits by compiling data from cashiers, verifying and balancing receipts, and sending cash, checks, or other forms of payment to banks.
Access computerized financial information to answer general questions as well as those related to specific accounts.

Related Technology & Tools

10-key calculators
Ledger sheets
Image scanners
Desktop computers
Receipt books
Financial calculators
Notebook computers

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