This article will talk about the Average Staff Accountant Salary, as well the job outlook, education requirements and areas where this profession earns the highest salaries. We provide links to additional resources that will help you make informed decisions. These include salary information from actual employers. This article will give an overview about the job market in staff accountants. After reading this article you will have a good understanding of the job of a staff accountant and how to get in this field.
Average salary for staff accountants
A wide variety of financial duties are performed by staff accountants for businesses. They should be proficient in using computers and be able type quickly. They must also be precise in preparing all financial statements. Here are some average salaries for staff accountants. Learn more about this field by reading on. Find out which states have the highest salaries for staff accountants. Here are some tips to help you find the perfect job.
Like all jobs, salaries for staff accountants can vary depending on where they are located. The cost of living in a particular area can make a difference in salary. Robert Half lists multipliers for 130 U.S. cities in a survey. For an equivalent salary, an accountant in New York would multiply by 141 % the national average. In El Paso, the average salary for staff accountants is 70 percent less than that of an accountant in New York.
The job outlook for staff accountants
According to the U.S. Bureau of Labor Statistics the outlook for staff accountants looks positive. Although the demand is not expected increase dramatically over the next decade for accountants, the projected growth in job opportunities is faster than average. According to the Bureau, 74% will hire accounting graduates again in 2022. This trend indicates that there are solid prospects for staff accountants to advance their careers and get higher pay. Staff accountants can also expect to have a stable job and a stable work-life balance.
Accounting firms, government agencies as well as non-profit and public companies offer staff accountant employment. Most staff accountants work with controllers or certified public accountants. They prepare monthly and annual reports and analyze financial data. They also maintain general ledgers and analyze budgets. The staff accountant can also be responsible to bill activities, accounts receivables and payable, as well as general bookkeeping.
For staff accountants, education requirements
There are many educational requirements for staff accountants. While a bachelor's degree in accounting will get you started, an advanced degree opens up opportunities for more responsibility. A staff accountant can expect to go from a junior accountant to a senior one-to two year position. They could be promoted to managerial positions within five years. Finance is a common background for many top-ranking executives. While the educational requirements for staff accountants are different from other job titles you can still expect to progress quickly.
Staff accountants may specialize in various areas, including cost accounting, planning, budgeting, or general accounting. They may be responsible for preparing financial reports and analysing financial data for company executives. Large companies may prefer staff accountants who are skilled and versatile. Education requirements for staff accountants vary by company size and industry. Staff accountants are required to have at minimum a bachelor's level in accounting and related fields.
The most lucrative locations for staff accountants
If you're interested in working in a luxury location and making a good salary, consider a position in Monaco. Monaco, an obscure city, is home of some of the most wealthy people in the world. The country is a thriving financial centre, based on finance, banking, and professional services. It's an ideal location for staff accountants. Before moving there, you'll probably want to brush up on your language skills. As this country speaks French, Italian, and German, accountants will be able to quickly make a living in Monaco.
Where do staff accountants earn the highest salaries? According to BLS data, salaries for staff accountants varied greatly across the country. According to BLS, California was ranked fifth on the list of highest-paid states in 2017, with Connecticut surpassing that rank by two percent.
FAQ
What is the difference between accounting and bookkeeping?
Accounting is the study of financial transactions. Bookkeeping is the documentation of such transactions.
The two are related but separate activities.
Accounting deals primarily in numbers while bookkeeping deals with people.
To report on an organization's financial situation, bookkeepers will keep financial information.
They adjust entries in accounts payable, receivable, and payroll to ensure that all books are balanced.
Accounting professionals analyze financial statements to assess whether they conform to generally accepted accounting procedures (GAAP).
They might recommend changes to GAAP, if not.
So that accountants can analyze the data, bookkeepers keep records about financial transactions.
What is a Certified Public Accountant (CPA)?
Certified public accountant (C.P.A.). is a person with specialized knowledge in accounting. He/she is able to prepare tax returns and help businesses make sound business decisions.
He/She also tracks cash flow and makes sure that the company runs smoothly.
How do accountants function?
Accountants work together with clients to maximize their money.
They also work closely with professional such as attorneys, bankers or auditors.
They also work with internal departments like human resources, marketing, and sales.
Accounting professionals are responsible for maintaining balance in the books.
They calculate the amount to be paid and collect it.
They also prepare financial statements which show how well the company is performing financially.
Statistics
- 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)
- According to the BLS, accounting and auditing professionals reported a 2020 median annual salary of $73,560, which is nearly double that of the national average earnings for all workers.1 (rasmussen.edu)
- 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)
- 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)
- BooksTime makes sure your numbers are 100% accurate (bookstime.com)
External Links
How To
How to become an accountant
Accounting is the science behind recording transactions and analysing financial data. It involves the preparation and maintenance of various reports and statements.
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 years investment experience is required to become an AFA by the AAII. They must pass a series exam to verify their understanding of accounting principles.
A Chartered Professional Accountant (CPA), also known as a chartered accounting, is a professional accountant with a degree from a recognized university. CPAs need to meet the specific educational standards set forth by the Institute of Chartered Accountants of England & Wales.
A Certified Management Accountant is a professional accountant who specializes in management accounting. CMAs have to pass exams administered by ICAEW and keep up-to-date with continuing education requirements throughout the course of their careers.
A Certified General Accountant is a member of American Institute of Certified Public Accountants. CGAs must pass multiple exams. One of these tests, the Uniform Certification Examination or (UCE), is required.
International Society of Cost Estimators' (ISCES) offers the Certified Information Systems Auditor certification. CIA candidates must complete three levels of study consisting of coursework, practical training, and a final examination.
The Accredited Corporate Compliance Officer (ACCO), is a designation that has been granted by the ACCO Foundation (IOSCO). ACOs need to have a bachelor's degree in finance, public policy, or business administration. They must also pass two written exams as well as one oral exam.
The National Association of State Boards of Accountancy offers the certification of Certified Fraud Examiners (CFE). Candidates must pass three exams and obtain a minimum score of 70 percent.
International Federation of Accountants (IFAC), has awarded a certification to an Internal Auditor (CIA). The International Federation of Accountants (IFAC) requires that candidates pass four exams. These include topics such as auditing and risk assessment, fraud prevention or ethics, as well as compliance.
American Academy of Forensic Sciences gives Associate in Forensic Accounting (AFE), a designation. AFEs must be graduates of an accredited college or university that has a bachelor's in accounting.
What is an auditor? Auditors are professionals who perform audits of financial reporting systems and their internal controls. Audits can be conducted randomly or based upon complaints from regulators regarding the organization's financial reports.