Learn about the education and preparation required to become a staff accountant. Get a fast read of the necessities and details concerning degree programs, job duties, and the necessary experience to search out if this is often the career for you.
- Degree Level: Bachelor’s degree
- Degree Field(s): Accounting
- Experience: 1+ year that may embody associate berth
- Key Skills: Basic scientific discipline skills; ability to investigate figures; information of accounting principles; wonderful verbal/written communication, multi-tasking, prioritizing, and structure skills
- Median earnings $45,837
Staff accountants work for accounting companies, public corporations, non-profit organizations, and governmental agencies. They prepare documents like tax returns, monthly reports, and money statements. Employers like a baccalaureate in accounting and previous accounting experience.
Staff Accountant Description
Staff accountants work beneath the superintendence of a controller, director or certified public accountant(CPA). They maintain money reports, general ledgers, and records; prepare and analyze budgets, and perform general accounting. Several staff accountants are liable for request activities, like accounts collectible and assets. A 40-hour week will be expected; several accountants prepare tax returns that may cause potential overtime throughout tax season.
Everyday necessities for the position embody a baccalaureate in accounting and one year of accounting experience, which might be gained from associate berth position or previous employment.
A Bachelor of Science in Accounting may be a 4-year degree getting ready students with the necessary skills in accounting, business, management, info technology, and ethics. Curricula might embody courses like economics, business communications, pc applications, statistics, and accounting info systems.
Potential staff accountants should possess necessary scientific discipline skills, the flexibility to investigate figures, information of accounting principles and excellent verbal and written skills. They have to be able to multi-task, establish priorities and organize expeditiously.
Information on computers and familiarity with accounting software system is additionally essential. Some employers might need a criminal background check at the side of a written check performed at the time of the appliance.
Employment Outlook and Earnings Info
According to knowledge from the U.S. Bureau of Labor Statistics (BLS), employment growth for accountants and auditors ought to be concerning average at 11 November over the 2014-2024 decade. PayScale.com according to that staff’s accountants attained median earnings of $45,837 in 2016.
Entry-level staff accountants had median earnings of $39,704 annually. A staff accountant works beneath a controller to perform general accounting duties. A baccalaureate is needed for this career.
Staff Accountant’s Duties
Staff accountants give support to essential accounting and money managers like treasurers, controllers or chief money officers. They will add a range of environments together with the govt., hospitals, little business, producing and public accounting.
Staff accountants area unit responsible for an associate array of body and money tasks like getting ready to tax returns, maintaining money records, payroll, assets, and accounts collectible.
a) Public Accounting
In public accounting, the staff’s accountant services purchasers beneath the superintendence of an additional senior level accountant. They will prepare tax returns, draft money statements, do audit fieldwork and write management letter comments. To qualify for this job, the Certified Public Accountant Designation is commonly most well-liked.
This designation is well recognized and revered within the trade. Rules for turning into a controller vary by state. However, most countries need a baccalaureate from associate licensed faculty with a minimum variety of credit hours in accounting, business, and finance. Besides, you want to pass an even test and complete one year of on-the-job coaching.
b) Corporate Accounting
Corporate staff accountants work beneath the superintendence of associate accounting manager or alternative top dog. During this role they’re typically liable for journal entries, getting ready profit-loss statements, assets, accounts collectible, and daily reconciliation of bank statements.
Company staff accountants may supervise a team of accounting clerks and alternative support staff. A bachelor of arts in accounting is needed for this job.
Federal, state and native governments additionally use staff accountants. Operating in government, a staff accountant may match beneath the superintendence of a town financial officer, controller or finance director. Their duties might comprehend the variety of body and money responsibilities like watching money transactions, accommodative request, getting ready money reports, and maintaining business records.
d) Health Care and Nonprofits
Staff accounts may be found in hospitals, clinics colleges and differing kinds of non-profit-making organizations. In large organizations, the staff’s accountant might specialize in associate accounting perform like payroll, assets or accounts collectible.
In smaller entities, they will act additionally as a Renaissance man overseeing varied money duties like maintaining the overall ledger, getting ready monthly reconciliations, posting money deposits, and aiding with annual audits.
Staff Accountant Earnings
The average gets hold of staff accountants $48,100 per annum. Get hold of this job doesn’t modification abundant by experience, with the foremost intimate earning solely a small amount quite the smallest amount. Individuals during this job usually haven’t got quite twenty years’ experience.
Job Description for staff accountant
Staff accountants area unit liable for a variety of monetary duties and practices, and pc skills area unit essential during this position to use advanced budgeting and auditing software system programs, also as kind quickly and run various company reports. They’re additionally liable for maintaining a budget and guaranteeing that each one money statements are ready and audited rigorously.
Staff Accountant Tasks
- Analyze money knowledge to organize money reports.
- Generate and interpret money records and statements for management.
- Maintain records of assets, liabilities, profit, and loss, liabilities, or alternative money activities at intervals a corporation.
- Maintain a book of account as required.
At any low company, a staff accountant with but one year of experience will expect to earn $35,250 to $42,750 a year, consistent with Robert [*fr1] Finance & Accounting, a national money achievement service. With one to a few years of experience, staff accountants average $39,750 to $52,750 a year, whereas those with 3 or additional years of experience earn $49,500 to $63,750 a year.
On prime of experience, company size affects salaries. At midsize corporations, staff accountants earn $37,500 to $47,000 with one year of experience, $43,250 to $58,000 with one to a few years of experience and $54,250 to $71,250 with quite three years of experience.
At massive corporations, accountants earn $39,750 to $49,500 with one year of experience, $47,250 to $62,000 with one to a few years of experience and $60,250 to $79,250 with quite three years of experience.
As with nearly any career, academic achievements will improve salaries for staff accountants. On average, accountants earn 5% to 10% additional a year with master’s degrees or skilled certifications, like Certified Public Accountant (CPA), Certified Management Accountant or licensed in Business Valuation. At any low company, a staff accountant recent out of school will earn $37,013 to $47,025 once certified as a controller.
Another issue influencing earnings is location – generally even additional therefore than each experience and education. In la, as an example, staff accountants earn 24% quite the national average. Those operating in Boulder, Colo., additionally fare higher than most, earning 13% quite average. The same, however, can’t be aforementioned for staff accountants in a city, Minn., wherever salaries area unit nearly 21% but average.