Accounting staff manage a company's financial records.
The accounting field can be broadly categorized into internal auditing, management accounting, government accounting and public accounting, and there are numerous career choices. While most levels require at least a bachelor's degree in accounting, finance, economics or business management, entry-level positions such as bookkeepers and auditing clerks typically require only a high school diploma -- college degrees and certifications enhance your employment and salary opportunities.
Bookkeepers and Accounting Clerks
Entry-level accounting jobs typically include accountants, bookkeepers and auditing clerks who report to managers or supervisors. Job responsibilities vary depending on the size and nature of the company. Entry-level accounting employees are typically responsible for updating a company's financial records. They prepare financial reports and financial statements, which are compiled for review of the managers and supervisors. Additional tasks performed at this level may also include posting transaction details to accounting ledgers, reconciling bank accounts, paying vendors and performing clerical duties such as ordering supplies and maintaining files.
Auditors and Staff Accountants
Auditors and staff accountants are often senior-level staff members and typically report to a mid-level manager or the chief financial officer. Typical tasks auditors perform include reviews of company records, processes and procedures. They ensure that all company activities are in compliance with internal policies, as well as regulatory guidelines. Senior-level staff accountants may prepare and file the company's tax statements, manage high-profile clients and may provide financial analysis for executive management review. Auditors and staff accountants may assist accounting managers and the chief managers in preparation of financial reports for clients, stockholders and regulatory commissions.
Financial Managers and Supervisors
Financial managers and supervisors occupy the mid rungs of the accounting career ladder. They sometimes manage a department or unit, or they may manage the accounts of several clients. Financial managers are responsible for the overall financial health of a firm, and if they supervise others, define procedures and set guidelines and overall objectives for their direct reports. Accounting tasks may include financial statement preparation, audit and assessment, budget preparation and compilation of financial reports for regulatory reporting. Financial managers and supervisors typically report to more senior accounting staff, or executive management.
Chief Financial Officer
Chief financial officers are at the top rung of the accounting career ladder and are typically members of the executive management team. They are responsible for the long-term financial planning of the company, developing cash-management strategies and implementing investment strategies based on the financial reports of the firm. They are involved in preparing financial reports, analyzing financial statements and may predict the cash flows for future periods. Chief financial officers determine the overall strategy for accounting and finance departments and often manage other management and top-level non management staff. They typically report to the chief executive officer or the board of directors.
Tags: financial reports, executive management, Financial managers, managers supervisors, staff accountants