Accounting jobs have always been among the best paying ones in the finance industry. This article has been written with an aim of helping you know the staff accountant job description and staff accountant salary in detail.
Accounting and bookkeeping in a professional way is essential for the growth and efficient management of any company. These practices help the company management understand the financial condition of the company and decide the course of action to deal with the problems that are interfering with the growth. Accountants are recruited in large numbers in companies belonging to varied sectors of the economy to keep a tab on profits made by the company, debt levels and cash inflow and outflows. The staff accountants play a crucial role and help in the preparation of income statements of the company.
Staff accountants are accounting professionals who also prepare financial statements such as the balance sheet and tax documents for the firm where they are employed. At many places, staff accounts generate financial reports for the top management periodically for systematic analysis of the financial position of the company. Staff accountant responsibilities also include preparation of year-end reports for annual auditing and journal and ledger entry preparation. The staff accountant duties can vary a bit from one company to other and in some select locations, they may have more responsibilities like meetings and discussions with chief financial officers and higher level management people.
Becoming a Staff Accountant
A background in finance, commerce or economics is an advantage for becoming a staff accountant. You should be able to manage daily accounts with the help of accounting software available in the firm. Knowledge of accounting standards, conventions and principles is a must, and so is good mathematical and number crunching skills. Presence of mind, analytical thinking, logical thinking and multi-tasking abilities are some other essential qualities for becoming a staff accountant.
The salary of the staff accountant depends on several factors such as their education, experience and type of employer. Accountants working for top-notch financial services firms can command a higher salary a compared to those working for smaller firms. The average salary for staff accountants can be around $50,000 per year. The entry-level salary is around $35,000 to $42,000 per year. Accountants with two to five years of experience can draw anything between $45,000 to $50,000 per year. Senior accountants having an experience of more than ten years can make anything between $55,000 to $74,000 per year. Staff accountant salaries are the highest in metropolitan locations such as New York and Washington. Apart from the salaries, accountants can also get attractive bonuses and incentives based on their performance at work.
The work environment for accountants is really good as compared to several other jobs. Accountants work in plush offices of corporate giants and have many facilities from their employers. Working in a financial institution enables them to get loans at discount rates of interest which is perhaps the biggest benefit of this job. Health insurance facilities are provided by all employers in all locations of the country.
If this article on staff accountant salary has left you impressed with this job and its offerings, them it is the time to start taking good efforts in the right direction to get the best jobs in the industry. With accountants in great demand, this career can be your ticket to a prosperous and peaceful life. Good luck!