This guide provides detailed information on the staff accountant career.
It highlights the educational requirements you need to fulfill to become a staff accountant, the various career opportunities available, and how to advance and be successful in your staff accountant career.
Now, let’s begin:
Who is a Staff Accountant?
Staff accountants work closely with accounting professionals to provide financial analysis and reporting services.
Their primary focus is to ensure accurate financial information is provided to clients. Here are some examples of what they do:
- Provide support to internal departments
- Prepare reports for external clients
- Assist with bookkeeping tasks
- Ensure compliance with tax regulations
- Perform audits
- Manage payroll
- Maintain records
- Analyze data
- Develop financial.
Learn more about the staff accountant duties and responsibilities.
Why Choose The Staff Accountant Career?
The job of a staff accountant offers a lot of benefits, some of which are provided below, which provide reasons for you to choose to pursue the career:
- Salary
The salary of a staff accountant depends on the company they work for. However, it can range from $40K to over $100K per year, depending on their experience level.
2. Job Scope
A staff accountant’s main responsibility would be to manage all financial transactions relating to the company’s accounts payable, receivable, payroll, and taxes.
3. Work Environment
Staff accountants work in a fast-paced environment with deadlines to meet constantly.
To be effective in this field, you need to have excellent communication skills because most of the time you will be communicating with different departments within the organization.
4. Growth Opportunities
There are many opportunities for growth that you can explore as a staff accountant if you want to advance in this field.
Most companies offer training programs that help their employees grow professionally.
5. Flexibility
If you don’t like working in an office setting, then becoming a staff accountant could be the right career path for you.
In fact, some companies even allow their staff accountants to work remotely.
6. Advancement
Being a staff accountant requires a lot of hard work and dedication. With enough effort, you can eventually reach the top position in the organization.
Staff Accountant Education Requirements
In order to qualify to work as a staff accountant, you will be required to meet some educational qualifications.
You must have at least a Bachelor’s degree in any of the following fields: Accounting, Finance, Business Administration, Economics, Mathematics, Statistics, Computer Science, or Engineering.
Some employers also require applicants to have certain certifications, such as CPA (Certified Public Accountant), ACCA (Accounting Certificate Authority) or CMA (Chartered Management Accountant).
Staff Accountant Continuing Education
Engaging in continuing education is important for staff accountants to stay up-to-date with current trends in their industry.
As a staff accountant, you should take advantage of continuing education courses offered by various organizations.
Here are courses that can help in improving your knowledge and skills:
- Financial Reporting
- Auditing
- Taxation
- Accounting Software
- Information Technology.
Staff Accountant Certification/License
There are several certification exams available for those interested in becoming a certified public accountant. Here are some of them:
- Certified Public Accountant Exam
- Chartered Management Accountant Exam
- Certified Internal Auditor Examination
- Certified Fraud Examiner Exam
- Certified Bookkeeper Exam.
As a staff accountant, you may also need to get licensed to practice in your state.
For example, in the state of California, you need to pass the Uniform Certification of Accountancy Exam before being able to apply for licensure to work in the state as a staff accountant.
Staff Accountant Career Pathway
The following is a possible career pathway for a staff accountant:
- Entry Level
If you are just starting out in your career, then a good option for you would be to take up an entry level position.
This means that you will start off as a trainee and learn all about accounting from the ground up.
2. Intermediate Level
After serving as a staff accountant for a few years, you can move on to become a senior staff accountant.
A senior staff accountant has more responsibilities than a junior. They are expected to handle complex financial reports and audits.
3. Senior Level
After spending several years as a senior staff accountant, you can finally make it to the executive level.
At this point, you will manage a team of staff accountants. You will be responsible for overseeing the entire department and making sure that everything runs smoothly.
4. Manager
If you have been working as a manager for a few years, then there’s no reason why you cannot move further.
You can even become a vice president in a company if you want to. The only thing you need to do is to work hard and prove yourself.
5. Consultant
Consultants usually specialize in a particular area of accounting. For example, they might focus on taxation or auditing.
If you decide to become a consultant, then you will probably need to earn a Master’s degree first.
Other career opportunities you can access with a staff accountant training and background include:
- Partner
- Chief Executive Officer
- Director
- Vice President
- Senior Vice President.
How to Advance your Staff Accountant Career
You can improve your chances of advancing in your career as a staff accountant by applying these tips:
- Attend conferences and seminars
By attending conferences and seminars, you will be kept abreast of new developments in the accounting field.
Conferences are seminars are also a great opportunity to meet people who can help you with your career.
2. Networking
Networking is another effective method of improving your chances of making advancement in your career. You should join professional associations and attend their events.
These organizations often provide opportunities to their members to network with other professionals.
3. Keep learning
Learning is essential if you want to stay ahead of the competition. There are many ways to learn new things in your field.
One of them is through online courses like Udemy and Lynda offer, which offer thousands of free video tutorials.
4. Take on challenging projects
One of the most important skills that you can develop as a staff accountant is problem solving ability.
When you take on challenging assignments, it helps you to gain experience and hone your problem-solving skills.
5. Get involved in community activities
Community involvement is another good way to get ahead in your career. Volunteerism does not only help others, it also gives you valuable exposure.
How to Find a Good Staff Accountant School
Finding a good school for your training to become a staff accountant depends on what type of education you prefer. Here are some options to consider:
- Online Staff Accountancy School
If you don’t have much time to devote to studying, then an online program may be right for you.
Students may learn at their own speed using online programs, which also gives you the flexibility to fit your studies around your schedule.
Some schools offer flexible scheduling so that you can complete your coursework while you’re employed full-time.
2. Onsite Staff Accountancy Program
Onsite programs are generally more expensive than online ones. However, they come with all the benefits of traditional classroom settings.
Students will have the benefit of physically interacting with faculty members who are experienced accounting practitioners.
And also, they can ask questions directly to professors and peers.
3. Hybrid Staff Accountancy School
Hybrid staff accountancy schools combine both online and onsite classes. This option allows students to choose which part of their education they prefer to be online or onsite.
The hybrid approach makes it easier to balance work and personal life.
4. Traditional Staff Accountancy School
Traditional staff accountancy schools typically require students to live on campus. Most students spend one or two years there before moving on to graduate school.
Students usually receive hands-on training during this period.
5. Staff Accountancy Certifications
Certification exams are a great way to demonstrate your expertise and knowledge of your field.
Many employers look for certifications when hiring candidates. If you plan to go higher in your career, then certification exams are a must for you to take.
How to be Successful in Staff Accountant Career
To be successful in your staff accountant job and career, here are some tips you can use:
- Be proactive
Proactive people tend to succeed in life because they make sure that they do everything possible to achieve their goals.
It is usually preferable to begin early rather than wait until the last minute.
2. Learn how to manage stress
Stress affects everyone differently. However, you need to find out how to deal with it yourself. Stress management techniques include meditation, exercise, yoga, and other relaxation methods.
3. Keep learning new things
There’s no end to learning, you need to always keep up with new developments in your field.
Read books, magazines, journals, and newspapers, and attend webinars and conferences.
4. Take advantage of networking opportunities
Networking is essential in today’s business world. Make use of social media platforms like LinkedIn, Twitter, Facebook, Google+, and Quora.
Also, join professional organizations and participate in local events.
5. Stay positive
You can never go wrong by staying optimistic in both your life and career. Optimism will help you overcome obstacles and challenges you may face in your job.
Qualities of a Good Staff Accountant
Here are some qualities of a good staff accountant you should develop:
- Excellent communication skills
Communication plays an important role in the job of a staff accountant. A good staff accountant needs to communicate clearly and effectively with colleagues and customers.
They should also be able to communicate complicated subjects in layman’s terms for everyone to understand.
2. Strong analytical abilities
Analytical thinking helps staff accountants solve problems quickly. They need to be able to analyze data and draw conclusions from them.
3. Ability to multitask
Staff accountants often have multiple projects going on at the same time. They need to be flexible and able to handle changing priorities.
4. Team player
Teamwork is essential in any workplace. A good staff accountant should be able to work well with colleagues and other professionals in a team environment.
5. Self-starter
Self-starters are usually highly motivated individuals who don’t wait around for others to get started on projects. They take initiative and move forward independently.
Staff Accountant Job Outlook
Accountants and auditors’ employment is expected to expand at a rate of 7% between 2020 and 2030, which is roughly the same as the national average for all occupations, according to the U.S. Bureau of Labor Statistics (BLS).
Approximately 135,000 accountant and auditor job opportunities are expected per year on average during the next decade.
Conclusion
Being a staff accountant requires strong analytical capabilities, excellent communication skills, and self-motivation.
It’s a career that offers good salary and opportunity to advance into higher positions.
If you are interested in the staff accountant career, then this post has provided all that you need to know to become one and explore opportunities in the field, and be successful in your career.
