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”

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

Related Technology & Tools

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

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