Staff Accountants are responsible to maintain the accounts of a firm. They should perform duties related to the general ledger of the company. The accountant should also review the financial statements of the firm. They work on preparing the accounting reports in the organization. They prepare the annual budgets of the organization. The accountant also prepares the audit reports and reconciles all accounts of the organization.
Job Description – Staff Accountant
The candidates who apply for the position of staff accountant are responsible for completing all duties in the accounts department in a diligent manner. they ensure financial records and reports are duly maintained for the organization. They are responsible for performing account reconciliation for the organization. The accountant also plans and efficiently closes the budget. They conduct internal audits and maintain company accounts in a better manner. They report to the accounts manager for all accounting-related duties to be fulfilled.
Skills Required – Staff Accountant
They should have strong verbal and written communication skills, they need to organize well and pay proper attention to detail while they organize their tasks. The accountant resolves queries of internal customers by being proficient in problem-solving skills. They need proper time management skills to excel in their job role. The accountant requires critical thinking and active learning skills to excel as a staff accountant. They should have skills in computer literacy to manage their role as a staff accountant.
Job Responsibilities – Staff Accountant
- They maintain financial records, reports, and general ledger accounts.
- They also manage the process of account reconciliations for the organization.
- The accountant also manages journal entries for the organization.
- They also assist in monthly closures for accounts within the organization.
- They are also responsible for annual budgeting.
- The accountant also forecasts performance-related projections for the organization.
- They also maintain documentation for accounts payable within the organization.
- They are also responsible for conducting internal audits.
- The accountant also prepares balance sheets monthly.
- They are also responsible for meeting reporting deadlines.
- They are also responsible to review financial reports in the company.
- The accountant ensures the organization remains compliant with GAAP.
- They also act as an assistant to the account manager whenever it is required.
Requirements – Staff Accountant
- They should have a bachelor’s degree in Finance or Accounts.
- They should at least have relevant work experience of a minimum of 2 years.
- The accountant should also have excellent communication skills in both verbal and written communication.
- They should also understand the fundamentals of GAAP.
- They also need very strong analytical and numeracy skills to work in this position.
- The accountant should also be good with time management skills and problem-solving skills.
Frequently Asked Questions
1 Who is a staff accountant?
Ans. A staff accountant is a trained accounting professional who works for an accounting firm. They create many financial documents within the organization. They manage the business accounts of the firm in a smooth manner. The accountant meets various clients to understand financial matters. They prepare reports on an annual, monthly, and quarterly basis.
2 What are the duties of a staff accountant?
- They reconcile account statements.
- They manage the administrative duties as a staff accountant.
- The accountant provides the financial status of the organization.
- The accountant also assists in filing tax returns for the organization.
- They maintain a general account ledger in the company.
- They discuss the goals of the organization.
3 What is the job role of a staff accountant?
Ans. They maintain accounting records for a firm, they maintain financial reports of the company. The accountant receives a strategic direction from the financial controller of the firm. They are responsible for assisting the accounts department in various accounting tasks in a better manner.
4 What are the core skills for a staff accountant?
Ans. The staff accountant must have the following skills:
- They should be self-motivated to work.
- They should work with integrity.
- The accountant should also have strong business acumen.
- They should be able to manage teams within the organization.
- They should be efficient with IT skills.
- The accountant should also manage and meet all possible deadlines.
5 What kind of firms hire staff accountants?
- Private organizations for accountants.
- Organizations offering professional services.
- Industrial organizations.
- Government bodies also hire accountants.
- The public sector organizations also hire staff accountants.
- They can also be hired in nonprofit organizations.
6 Why is a staff accountant necessary?
Ans. The entire account operations within a firm are managed on a monthly and a quarterly basis by staff accountants. They streamline financial processes for the organization to report the financial statements of the company efficiently. Staff accountants use their knowledge related to accountancy to manage the accounts of a firm. The accountants work with the account manager to streamline all processes in an accounts department of an organization.
They ensure there are no gaps in the balance sheet of the firm, further they should ensure accounting practices are compliant with GAAP. The accountant must also file all income tax returns duly without any hassle and discrepancies. Every organization will have different accounting requirements which a staff accountant needs to meet on the regular basis.