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What is an inventory accountant and how to become one
An inventory accountant is in charge of overseeing and managing the costs involving a company's inventory operations. It is their duty to monitor transactions, update general ledgers, gather and analyze data, perform audits and assessments, and produce regular inventory reports. They must also observe and be alert for any inconsistencies and discrepancies, dealing with them according to the policies and regulations. Moreover, an inventory accountant must maintain an active communication line with staff for a smooth and efficient workflow.
What general advice would you give to an Inventory Accountant?
Stephen Moehrle Ph.D.
Professor and Chairman of Accounting, University of Missouri - St. Louis
Most of the above remains true so the only open question is job availability. It would be unrealistic to say things are great. However, it seems that job prospects for accounting majors will be better than for those of virtually every other entry-level profession during difficult times. I have been speaking with firm leaders across the spectrum of firms and most do intend to be on campus in the fall recruiting season. Of course, they have a lot of time to learn more about the economy over the next few months, but we are cautiously optimistic. Again, I am confident that whatever the state of job availability for young CPAs-to-be, prospects will be better for accounting graduates than virtually any other profession.
They will be entering the profession at a fascinating moment in time. Of course, the technological advances assure this regardless of economic conditions. However, there are business disruption-related issues that will provide rich opportunities for making a difference. For example, audit staff will be working with clients to see them through these troubling times. Lamentably, I fear that these young professionals will learn more about the going concern determination than they desire to know. Tax staff will help clients to optimally use the tax loss carrybacks and carryforwards that are arising by the day. Entry level professionals in corporate accounting will get a day-to-day front row seat in business management through crisis. While lamentable times, these are times when young professionals can make a difference that saves jobs.
Avg. Salary $59,285
Avg. Salary $59,228
Growth Rate 6%
Growth Rate 0.3%
American Indian and Alaska Native 0.46%
Asian 12.10%
Black or African American 8.86%
Hispanic or Latino 11.21%
Unknown 3.97%
White 63.39%
Genderfemale 49.38%
male 50.62%
Age - 43American Indian and Alaska Native 3.00%
Asian 7.00%
Black or African American 14.00%
Hispanic or Latino 19.00%
White 57.00%
Genderfemale 47.00%
male 53.00%
Age - 43Stress level is manageable
7.1 - high
Complexity Level is challenging
7 - challenging
Work Life balance is good
6.4 - fair
Inventory Accountant career paths
Key steps to become an inventory accountant
Explore inventory accountant education requirements
Start to develop specific inventory accountant skills
Skills 
Percentages Reconciliations 11.41% Financial Statements 4.14% External Auditors 4.12% Internal Controls 4.06% Account Reconciliations 4.06% Complete relevant inventory accountant training and internships
Accountants spend an average of 1-3 months on post-employment, on-the-job training. New inventory accountants learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as an inventory accountant based on U.S. Bureau of Labor Statistics data and data from real inventory accountant resumes.Research inventory accountant duties and responsibilities
- Prepare internal financial reports for treasury manage accounts include in external compliance reports.
- Collaborate with external CPA firm in recording accumulate amortization/depreciation and extend tax returns.
- Provide monthly consignment inventory balances to customers, roll-forward reports and reconciliations for goods in transit.
- Perform both wire and ACH transfers on a weekly basis.
Prepare your inventory accountant resume
When your background is strong enough, you can start writing your inventory accountant resume.
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Apply for inventory accountant jobs
Now it's time to start searching for an inventory accountant job. Consider the tips below for a successful job search:
- Browse job boards for relevant postings
- Consult your professional network
- Reach out to companies you're interested in working for directly
- Watch out for job scams
How Did You Land Your First Inventory Accountant Job
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Average inventory accountant salary
The average Inventory Accountant salary in the United States is $59,285 per year or $29 per hour. Inventory accountant salaries range between $46,000 and $76,000 per year.
What Am I Worth?
How do inventory accountants rate their job?
Inventory Accountant reviews
Business owners that do not know or understand compliance and GAAP, or the patience to follow the rules... generally common in small companies.
It's an office job.
Everything else. Too much anxiety, debts, low sallary (€700/month).
I like when the numbers fall in to place. I enjoy helping clients reach their financial goals. I am great with client consultations. I appreciate the chance to help plan for a client's needs.
I dislike situations where no planning had been done. I am bothered when a client has an accounting problem that could have been avoided by proper planning.
Updated January 8, 2025
