Staff Accountant

A staff accountant’s duties include bookkeeping and maintaining accurate accounting records, whether he is employed at a governmental agency, a public company, or a private firm. Such records will include accounts receivable, Accounts Payable, income, payments, and a monthly reconciliation of all types of accounts. A staff accountant will prepare and present a variety of reports regarding each account such as a cash flow analysis, income analysis, comparisons to previous months’ and/or years’ statistics, and projections for all accounts. He will also prepare any state or federal tax documents required.

Required Education

Staff Accountants should possess at least a bachelor’s degree in accounting. Statistical analysis, business law, public speaking, business mathematics, tax law, and financial statement analysis should be included in the core curriculum. If the position requires reporting to the Securities and Exchange Commission (SEC), the staff account must be a Certified Public Accountant (CPA), though many agencies will require a CPA regardless of SEC involvement. The American Institute of Certified Public Accountants administers the CPA exam, which encompasses auditing and attestation, business environment and concepts, financial accounting and reporting, and regulation. All four components must be completed successfully within eighteen months of the completion of the first unit, and all CPAs are required to complete 120 hours of continuing education every three years.

Salary and Projected Industry Growth

According the US Department of Labor, Bureau of Labor Statistics, the average annual wage for an accountant/auditor was $65,840 in May 2008. This figure is an average. It includes accountants/auditors at all levels of education and experience. Therefore, it does not reflect the reality of starting salaries. Payscale.com lists an average starting salary for a staff accountant at $37,304. The Bureau of Labor Statistics anticipates that the need for accountants and auditors will grow at a faster rate than other sectors, through 2018, due to regulatory changes. Also, the bureau went on to state that accountants, with higher education degrees and certifications, will command the greatest pay. They will be able to find employment more easily than individuals without such training.