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Do You Want To Specialize As A Staff Accountant?

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February 18, 2016

Accounting professionals have been given different titles, depending on the level of expertise and their job scopes. In different firms, the accountant will be given a title to uniquely identify him depending on his duties. For those in accounting firms, they get their titles depending on the area they specialize on. Organizations worldwide have an accounting department to determine their financial positions. Some choose to outsource their accounts while others would rather employ their own accountants. In the recent years, the demand for staff accountant jobs in Toronto is on the rise. Let’s find out what staff accountants do.

What’s a staff accountant?

Staff accountant

A staff accountant usually has a Bachelor’s degree in accounting, and is usually hired to work in commercial establishments as well as government agencies. Their job is to prepare documents which include monthly financial statements and income tax returns. Performing general bookkeeping duties are also one of their fortes, as well as managing accounts receivable and accounts payable. A staff accountant is often expected to fulfill a 40-hour weekly work schedule.

Knowing the duties

If you want to become a staff accountant, you need to be familiar with the duties and responsibilities that you are in charge in. Here is a look at the main duties that will be under your job scope:

• Doing a review on the previous financial records and ensuring that they agree and comply with the regulations and authority body that governs accounting.

• Keeping a proper record on the income generated to the company and the expenditures incurred by the company.

• Making sure that necessary taxes required to be paid by the company are prepared and submitted to the authorities on time.

• Making sure that all financial records are arranged and organized in a proper way.

• Working hand in hand with the management in order to develop financial policies that control finances in the organization.

• Coming up with proper endorsements that will act as means to saving on costs and increasing the income of the company

• Where there have been claims of fraud in the organization then it is his role to ensure that these claims have been well investigated.

Different positions in the field

Depending on the size of the company, a staff accountant can be given the area of tax accounting or the area of cost accounting to handle. In this case, a tax accountant will be required to prepare comprehensive tax calculations in an organization. On the other hand, the cost accountant will be requirement to have proper bookkeeping skills and also prepare the budget for the organization. However they still work together in making sure that the company has worked on reducing its spending. However, small businesses find it more cost effective to work with one staff accountant for both roles.

What is a standard compensation plan for staff accountants?

Experience and the location of a company may determine how much a staff accountant may earn in this field. A beginner can pocket about $3,000 per month and as the experience increases and level of accountability demanded increases, then it can rise up to about $6,000 per month. Over time, one can rise up to a senior accountant or an accountant manager and by this time the pay can be more than $100,000 per year. It is however important to know that a smaller enterprise may be offering a lower deal than this.

If you are interested to become a staff accountant, you should start looking for employment agencies that specialize in accounting jobs in Toronto. This is because such companies will have the best accounting positions on offer as the employers will trust a specialty headhunting agency more than one that usually does not handle accounting job applications.

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