What Does A Career In Staff Accounting Offer?
A career in the field of accounting proves to be extremely rewarding. Since the accounting industry is highly technical by nature, it implies that to have a career in accounting an individual needs to meet stringent requirements. Moreover, both experience and education are equally important if you intend to earn a satisfactory salary in the field of accounting. Besides this, both public and private sectors are providing good opportunities to start an accounting career. Apart from this, certifications such as Certified Public Accountant and Chartered Accountant help an individual in getting better remunerations. In this context, let us examine the job responsibilities and remuneration patterns available to the individuals who intend to build a career as a staff accountant.
A staff accountant is considered to be the foundation employee of an organization who applies the accounting principles within an allocated area of accounting or to a group of funds. Moreover, the person is also responsible for compilation of financial information, reconciliation of financial data and reports as well as processing of journal entries. Besides this, the individual must be familiar with the regulations and laws which are applicable to any accounting function. He/she is responsible for verification of documents on parameters like compliance and completeness according to the private and government agencies. In addition, these individuals perform the activities of recording, classification as well as summarizing the events and financial transactions according to the generally accepted accounting principles.
Generally, accountants having a minimum experience of three years are preferred for the position of a staff accountant. However, the experience may range from one year to four years. The salary of a staff accountant varies from organization to organization. Moreover, the salary structure is different in private and public organizations.
The salary of a staff accountant also varies according to several other factors. These include location, experience, market capitalization of the organization, job responsibilities etc. In general, the salary of an entry level staff accountant ranges between 30,000-40,000 CAD annually. With an increase in experience, the employability of the person also increases. This expands his/her horizons and improves the job opportunities available to the individual.