Raman kumar  Garg

If I start as a Cost Accountant, where should I see myself after five years, given that I keep working in same field?

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by Raman kumar Garg
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RE: If I start as a Cost Accountant, where should I see myself after five years, given that I keep working in same field?

Jyoti B Dhingra
Jyoti B Dhingra
Verified Career Expert
Career Consultant at Sun Productivity Inc
  • Mumbai

Hi,

Good to know that you want to know about the career path of a Cost accountant.Its a great field and the earning potential is also very good in this sector.

Let me first tell you that candidates who have just completed their masters in business administration in finance and accounting are best placed to take up the role of a cost accountant.

The main job of a cost accountant is to ensure that the cost of a firm comes down and its profits are improved.The cost accountant also makes a budgetary planning for the year and shares with other planning and management department.

Accounting job options and duties vary among the three major fields of accounting namely,Public,Management and Government.

In order to aim for becoming a cost accountant the following are the career related information-

After completing graduation in accounting and finance you are eligible to apply for the position of cost accountant.The ideal requirement from an applicant is to have a MBA degree in finance or accounting specialization.Candidates need to have good analytical skills and excellent accounting abilities.

You can take the certified management accountants (CMA) examination and get the requisite license.

The various popular industries that hire cost accountants are manufacturing and distribution,food manufacturing,steel or metal manufacturing,medical device manufacturing and many more corporate industries.Expected experience is from five to six years.

In the entry level you can join as staff cost accountant,Junior account assistant. To get there you need bachelors degree in accounting or finance and proficiency in Microsoft office applications.

Mid level you can join as a cost accounting manager and senior cost accountant.All entry level requirements.CPA certification and an advanced degree like an MBA or MAcc is required.

Senior level you become Financial controller,Chief financial officer and Vice President of finance.You need all mid level requirements-An MBA or MAcc recommended
Cost accountants are very well paid right from the initial stages in India as well as abroad.

I hope my answer will be of great help to you.

ALL THE BEST!!!

Is Cost Accountant your Ideal Career? Take Ideal Career Test to know -->Click Here

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