accounting analysttocost analyst
A accounting analyst already meets 39% of what the cost analyst role asks for. The move turns on 7 required skills not yet in the profile.
39%
58.5/ 100
1 Share of the cost analyst role’s weighted skill requirement already met by the accounting analyst profile. Required skills count in full, supplementary skills at 0.35. Directional: the figure for the reverse move differs. 2 Combines what is missing with how specialised it is, so a gap of general skills scores easier than the same number of narrow ones.
Why this move works
A cost analyst role treats 6 of its required skills as things a accounting analyst already does. These are the ones it depends on most.
- evaluate budgets
- financial department processes
- identify process improvements
- interpret financial statements
- liquidity management
- provide cost benefit analysis reports
What stands in the way is 7 required skills the profile does not yet cover. Table 3 groups them; Table 4 says which to take first.
Table 2 · What you already bring
Of the 11 skills that carry over, these are the ones fewest other occupations ask for. A cost analyst role needs them, and most people applying for one will not have them already. This is the part of a accounting analyst background worth leading with.
- already held explain accounting records management skills
- already held liquidity management business, administration and law
- already held evaluate budgets management skills
- already held financial department processes business, administration and law
- already held prepare financial statements information skills
- already held create a financial report information skills
All 11 carried skills, including the 6 the cost analyst role treats as required.
Table 3 · What you would need to learn
The 22 missing skills fall into 4 areas of the ESCO skill hierarchy, numbered below in the order worth working in: the areas carrying the most required skills come first, and inside each one the required skills sit above the supplementary ones.
- required, not held assess financial viability required
- required, not held control of expenses required
- required, not held prepare cost-plus pricing models required
- required, not held synthesise financial information required
- optional, not held analyse transportation costs optional
- optional, not held calculate production costs optional
- optional, not held execute analytical mathematical calculations optional
- optional, not held manage payroll reports optional
- required, not held company policies required
- required, not held cost management required
- optional, not held financial forecasting optional
- required, not held perform cost accounting activities required
- optional, not held manage inventory optional
- optional, not held support development of annual budget optional
- optional, not held carry out tendering optional
- optional, not held create a financial plan optional
- optional, not held enforce financial policies optional
- optional, not held exert expenditure control optional
- optional, not held manage budgets optional
- optional, not held advise on tax planning optional
- optional, not held disseminate information on tax legislation optional
- optional, not held negotiate supplier arrangements optional
Table 4 · Where to start
The 3 entries a cost analyst role is least likely to hire without. The ordering is computed from the skill data, not from what pays.
- 01 company policies knowledge · sector specific
- 02 cost management knowledge · sector specific
- 03 assess financial viability skill · cross sector
Each entry opens a course search for that skill. Career Overlap earns nothing from these links.
Appendix · The rest of the record
All 11 skills that carry over
- already held evaluate budgets skill
- already held financial department processes knowledge
- already held identify process improvements skill
- already held interpret financial statements skill
- already held liquidity management knowledge
- already held provide cost benefit analysis reports skill
- already held analyse financial performance of a company skill
- already held analyse financial risk skill
- already held create a financial report skill
- already held explain accounting records skill
- already held prepare financial statements skill
15 supplementary skills, helpful but not required
- optional, not held manage inventory optional
- optional, not held support development of annual budget optional
- optional, not held advise on tax planning optional
- optional, not held analyse transportation costs optional
- optional, not held calculate production costs optional
- optional, not held carry out tendering optional
- optional, not held create a financial plan optional
- optional, not held disseminate information on tax legislation optional
- optional, not held enforce financial policies optional
- optional, not held execute analytical mathematical calculations optional
- optional, not held exert expenditure control optional
- optional, not held financial forecasting optional
- optional, not held manage budgets optional
- optional, not held manage payroll reports optional
- optional, not held negotiate supplier arrangements optional
28 held skills the cost analyst role does not ask for
- not needed by the target role accounting department processes knowledge
- not needed by the target role accounting entries knowledge
- not needed by the target role accounting techniques knowledge
- not needed by the target role advise on financial matters skill
- not needed by the target role analyse business processes skill
- not needed by the target role check accounting records skill
- not needed by the target role draft accounting procedures skill
- not needed by the target role ensure compliance with accounting conventions skill
- not needed by the target role ensure compliance with disclosure criteria of accounting information skill
- not needed by the target role financial statements knowledge
- not needed by the target role follow the statutory obligations skill
- not needed by the target role forecast account metrics skill
- not needed by the target role global standards for sustainability reporting knowledge
- not needed by the target role identify if a company is a going concern skill
- not needed by the target role international financial reporting standards knowledge
- not needed by the target role investment analysis knowledge
- not needed by the target role liaise with shareholders skill
- not needed by the target role make strategic business decisions skill
- not needed by the target role manage accounts skill
- not needed by the target role monitor financial accounts skill
- not needed by the target role national generally accepted accounting principles knowledge
- not needed by the target role perform forensic accounting skill
- not needed by the target role perform stock valuation skill
- not needed by the target role public offering knowledge
- not needed by the target role review investment portfolios skill
- not needed by the target role stock market knowledge
- not needed by the target role supervise accounting operations skill
- not needed by the target role treasury management system knowledge
3 gaps that are knowledge rather than practice
Knowledge gaps usually close through study. Practical skill gaps usually need something you can point at.
- required, not held company policies required
- required, not held cost management required
- optional, not held financial forecasting optional
How this record was compiled
Both occupations are taken from ESCO, which lists the skills and knowledge each occupation is expected to have and marks every one required or optional. Nothing here is a prediction about hiring, and nothing here knows that a particular employer wants a particular certificate. Treat Table 3 as a starting point for your own research rather than a syllabus. The full method states what these figures can and cannot tell you.