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Cost Accountant in Toronto, ON

Cost Accountant Job Description

A Cost Accountant is a professional responsible for supporting the analysis and reporting of manufacturing, production, or project costs to ensure financial accuracy and operational efficiency. This role involves assisting with maintaining cost accounting systems, tracking inventory, and performing initial variance analysis to inform key business decisions. Candidates need strong analytical skills, meticulous attention to detail, and a foundational proficiency with accounting software. Typically, 0-3 years of progressive experience in cost accounting or a related accounting role is required. A Bachelor's Degree in Accounting or Finance is essential, with candidates actively pursuing a Chartered Professional Accountant (CPA) designation preferred. A foundational understanding of Canadian manufacturing practices and relevant accounting standards is key, along with an eagerness to learn and grow.

Typical cost accountant duties:

Assist with maintaining and updating cost accounting systems (e.g., standard costs for materials, labour, overhead).Support the analysis of actual versus standard costs, helping identify and explain variances.Prepare detailed cost reports on production, inventory, and profitability.Assist with inventory valuation, ensuring accurate costing and reconciliation.Support month-end and year-end close processes for Cost of Goods Sold (COGS) and inventory.Collaborate with operations and supply chain teams to gather cost data.Contribute to budgeting and forecasting activities related to production costs.Ensure compliance with Canadian accounting standards (ASPE/IFRS) for inventory and costing.

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Salary for Cost Accountant in Toronto, ON

68580 - 98550

Low
68580
The candidate is new to the role or has limited experience and is still developing core skills.
Mid
84240
The candidate has moderate experience in the role or one similar, meets most requirements and may hold transferable skills or relevant certifications.
High
98550
The candidate has extensive experience in the role, demonstrates advanced skills and often brings specialized certifications or industry experience.
Projected salaries for related positions Job title Low Mid High Chief Financial Officer 204390 250290 322650 Corporate Controller 144450 171450 196290 Controller 131490 159030 190080 Assistant Controller 102600 122040 141480 Financial Operations Manager 125280 151200 174150 Director of Accounting 144720 162540 194940 Accounting Manager 102330 119880 143100 Senior Accountant – Financial Services 106650 130410 142020 Accountant – Financial Services 88830 99360 110430 Cost Accounting Manager 107730 128520 144180 Senior Accountant 86400 101250 116640 Accountant 64530 75870 86400 Junior Accountant 55350 61290 66690 Senior Cost Accountant 93690 104220 115560 Property Accountant 70470 82080 97740 Director of Financial Reporting 147690 168750 194130 Senior Financial Reporting Accountant 104490 118260 126630 Financial Reporting Accountant 79380 93960 102870 Revenue Manager 90720 113130 130140 Revenue Accountant 76950 93690 105030

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The salary benchmarks in the Canada Salary Guide From Robert Half are the result of a rigorous, multistep process designed to reflect projected market trends for 2027. They are based on actual compensation for professionals Robert Half has placed nationwide, along with third-party job posting data from Textkernel that we use for independent validation. Learn more about our methodology.
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