Are you thinking about a career in accounting? Here are the pros and disadvantages of both staff and junior accountants. While they perform the same tasks as each other, the roles of both are not identical. To gain insight into the differences between them, consider their job duties, education requirements, and potential salary ranges. A junior accountant might be a recent college graduate. Their day may include reviewing financial statements or preparing projection reports. These reports are usually reviewed by company executives. However, junior accountants seldom have direct access. Instead, they would work closely alongside their supervisors and a senior accountant.
The primary difference between staff accountants and junior accountants is the requirements. The former requires a fouryear degree and one years of work experience. Staff accountants must be highly computer-savvy and possess excellent math and accounting knowledge. They must have strong communication skills and collaborate attitudes. Most staff accountants report to a controller or CPA. Staff accountants are able to move up in their career, but not junior accountants.
A staff accountant is an entry-level position in an accounting firm. They often hold the same credentials as a junior accountant, but have more experience and responsibility. Staff accountants typically have more experience than junior accountants and can handle more complex tasks. Entry-level accountants spend most their time preparing budgets and balances. Staff accountants are often involved with larger projects, including audits and internal checks.
As the BLS reports, the median annual salary for accountants was $60,340 in May 2009, with the lowest 10% earning $37,690. As you gain experience, salaries for staff accountants tend to increase. Senior staff accountants account for 10% of the highest-earning employees. The majority of junior staff accountant positions include benefits like health insurance, paid leave, and dental insurance. Associate's degrees in accounting are required for most junior staff accountant jobs.
You have two options depending on your experience and skill, a staff accountant or junior accountant. A staff accountant will be more likely to work as an assistant to a manager. Junior accountants are the entry-level role. However, they must be extremely detail-oriented and familiar with accounting tools and computers. A junior accountant must be proficient in accounting including payroll, invoicing and corporate tax guidelines. The junior accountant will usually work under the supervision and management of a senior accountant. But, the senior accountant often takes a more strategic position and manages the company’s finances.
A junior accountant, or entry-level accountant, has the same responsibilities as a staff accountant. They prepare capital, liability, or asset account entries, as well as perform audits and analyze accounting options. Junior accountants also prepare financial statements, write financial reports, and pay monthly payroll. These positions typically work full-time, but many also work overtime. When you're looking to hire a staff accountant, be sure to ask about the company’s expectations for growth.
FAQ
What type of training is required to become a Bookkeeper?
Bookkeepers need basic math skills, such as addition, subtraction, multiplication, division, fractions, percentages, and simple algebra.
They should also know how to use computers.
Most bookkeepers have a high school diploma. Some have college degrees.
What does an auditor do?
Auditors look for inconsistencies between financial statements and actual events.
He validates the accuracy of figures provided by companies.
He also checks the validity of financial statements.
What should I do when hiring an accountant?
Ask questions about experience, qualifications and references before hiring an accountant.
It is important to find someone who has done this before, and who knows what he/she's doing.
Ask them if you could benefit from their special skills and knowledge.
Make sure that they are well-respected in the local community.
What is an audit?
An audit is a review of a company's financial statements. Auditors examine the accounts of a company in order to make sure everything is correct.
Auditors are looking for discrepancies among what was reported and actually occurred.
They also ensure that financial statements have been prepared correctly.
Statistics
- In fact, a TD Bank survey polled over 500 U.S. small business owners discovered that bookkeeping is their most hated, with the next most hated task falling a whopping 24% behind. (kpmgspark.com)
- Employment of accountants and auditors is projected to grow four percent through 2029, according to the BLS—a rate of growth that is about average for all occupations nationwide.1 (rasmussen.edu)
- The U.S. Bureau of Labor Statistics (BLS) projects an additional 96,000 positions for accountants and auditors between 2020 and 2030, representing job growth of 7%. (onlinemasters.ohio.edu)
- BooksTime makes sure your numbers are 100% accurate (bookstime.com)
- Given that over 40% of people in this career field have earned a bachelor's degree, we're listing a bachelor's degree in accounting as step one so you can be competitive in the job market. (yourfreecareertest.com)
External Links
How To
How to Become an Accountant
Accountancy is the science of recording transactions and analyzing financial data. Accounting can also include the preparation of reports or statements for various purposes.
A Certified Public Accountant or CPA is someone who has passed an exam and received a license from the state board.
An Accredited Financial Analyst (AFA) is an individual who meets certain requirements set forth by the American Association of Individual Investors (AAII). A minimum of five year's investment experience is required before an individual can be made an AFA. They must pass several examinations to prove their understanding of securities analysis.
A Chartered Professional Accountant (CPA), also known as a chartered accounting, is a professional accountant with a degree from a recognized university. The Institute of Chartered Accountants of England & Wales (ICAEW) has established specific educational standards for CPAs.
A Certified Management Accountant, also known as a CMA, is a certified professional who specializes on management accounting. CMAs must pass exams administered by the ICAEW and maintain continuing education requirements throughout their career.
A Certified General Accountant, (CGA), is a member of American Institute of Certified Public Accountants. CGAs have to pass several tests. One test is known as the Uniform Certification Examination.
International Society of Cost Estimators has awarded the certification of Certified Information Systems Auditor. Candidates for the CIA certification must complete three levels, which include coursework, practical training and a final assessment.
The Accredited Corporate Compliance Officer (ACCO), is a designation that has been granted by the ACCO Foundation (IOSCO). ACOs must have a baccalaureate in finance, business administration or public policy. They also need to pass two written and one oral exams.
The National Association of State Boards of Accountancy offers the certification of Certified Fraud Examiners (CFE). Candidates must pass three exams with a minimum score 70 percent.
International Federation of Accountants is accredited a Certified Internal Audior (CIA). Candidates must pass four exams covering topics such as auditing, risk assessment, fraud prevention, ethics, and compliance.
American Academy of Forensic Sciences gives Associate in Forensic Accounting (AFE), a designation. AFEs should have a bachelor's degree from an accredited college, university or other educational institution in any area of study.
What is an auditor? Auditors are professionals who conduct audits of organizations' internal controls over financial reporting. Audits can take place on an individual basis or on the basis of complaints received from regulators.