The following article discusses the career path of Corporate Accountant. Learn about how to become one, education requirements, job duties, traits and qualities, national salary outlook as well as top national employers of Corporate Accountants.
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Job Duties
Corporate accountants make sure that a business adheres to its own policies and to the various tax laws and other regulations. They generate information that is given to the executive team, who use this to make decisions on the way the company operates. Usually, these accountants do two things:
- Prepare financial statements by gathering finance information and ledgers from the different groups, projects, teams, and offices. This is then consolidated to create a financial statement.
- Prepare budgets based on the financial goals of the executive team, ensuring that parameters have been set. They also audit the different departments to ensure they stick to the budget.
Generally, they work during regular office hours, although overtime is often required during specific accounting periods. They must be highly organized and analytical, while also having excellent communication skills.
Other duties of the corporate accountant are:
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Where We Work
According to the U.S. Bureau of Labor Statistics, there were 1,397,700 accountants and auditors in 2016. The largest employers of these professionals are:
- Accounting, tax preparation, bookkeeping, and payroll services: 25%
- Government: 8%
- Finance and insurance: 8%
- Management of companies and enterprises: 7%
- Self-employed workers: 7%
How to Become
Generally, a business will require a corporate accountant to hold a bachelor’s degree as a minimum in a field related to finance, including accounting. Some will only hire those who are Certified Public Accountant or Certified Management Accountant, which requires further studies.
If they need to file reports with the Securities and Exchange Commission (SEC), they must be a Certified Public Accountant (CPA). This means that they have to complete education beyond their bachelor’s degree and pass the CPA exam. Most corporate accountants are expected to be a CPA, which is why most have the master’s degree as this enables them to meet and exceed the 150 semester hours of coursework requirement for the certification examination. The CPA examination is offered by the American Institute for Certified Public Accountants (AICPA). CPA certification must be maintained through continuous education.
Corporate accountants usually start their career at an entry level position and then grow into supervisory roles, becoming managers and eventually even partners. Some start as junior internal auditors or cost accountants, for instance, rising through the organization over time. It is also common for corporate accountants to move between internal auditing and management accounting so that they get more varied experiences.
Education Requirements
A bachelor’s degree is usually the minimum requirement, with a major in accounting, finance, or related field. Those with a master’s degree are usually in higher demand, particularly those with a master in business administration (MBA) with an accountancy concentration.
Aside from the CPA designation, other certifications can also be beneficial for someone working as a corporate accountant, including:
– Certified Management Accountant (CMA) offered by the Institute of Management Accountants
– Certified Internal Auditor (CIA) offered by the Institute of Internal Auditors (IIA)
– Certified in Control Self-Assessment (CCSA) offered by the IIA
– Certified Government Auditing Professional (CGAP) offered by the IIA
– Certified Financial Services Auditor (CFSA) offered by the IIA
– Certification in Risk Management Assurance (CRMA) offered by the IIA
– Certified Information Systems Auditor (CISA) offered by ISACA
– CPA Accredited in Business Valuation (ABV) offered by AICPA
– CPA Certified Information Technology Professional (CITP) offered by AICPA
– CPA Personal Financial Specialist (PFS) offered by AICPA
Traits & Qualities
The most effective corporate accountants have the following traits to some degree or other:
– Strong analytical skills
– Excellent communication skills, both verbal and written
– Detail oriented
– Excellent mathematical skills
– Strong organizational skills
Minimum Education
Bachelor’s Degree
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$23,000
$120,000
The following section lists Corporate Accountant salaries in each state around the country. The figures are based on the total number of job postings through Indeed.com. For example, Washington had the largest quoted salary of $76,724 while Louisiana had the smallest quoted salary of $34,809.
According to Indeed.com, the following states had employers looking to hire a Corporate Accountant. The quoted salary figure represents the average salary from all job postings by this employer.
| Employer Name | Location | Average Salary |
|---|---|---|
| Access Staffing LLC Corporate Accountant | New Jersey | $132,140 |
| Infinity Consulting Solutions (ICS) Corporate Accountant | Illinois | $125,000 |
| Ramax Search Corporate Accountant | New York | $101,802 |
| MISSION STAFFING Corporate Accountant | New York | $98,424 |
| Kforce Finance and Accounting Corporate Accountant | California | $96,181 |
| AppleOne Corporate Accountant | California | $95,541 |
| CFS Inc. Corporate Accountant | Illinois | $95,000 |
| Liberty Mutual Corporate Accountant | Massachusetts | $93,754 |
| Ledgent Finance & Accounting Corporate Accountant | California | $93,484 |
| Robert Half Finance & Accounting Corporate Accountant | Alabama | $89,861 |
| Execu|Search Corporate Accountant | Connecticut | $86,696 |
| IFG Project Resourcing Corporate Accountant | Illinois | $84,870 |
| Accounting and Finance Corporate Accountant | New York | $84,514 |
| DONOVAN & WATKINS Corporate Accountant | Texas | $83,917 |
| Creative Financial Staffing Corporate Accountant | Connecticut | $81,471 |
| Vaco Corporate Accountant | Texas | $81,278 |
| CFS, Inc. Corporate Accountant | Illinois | $80,661 |
| Recruit Universe Corporate Accountant | Connecticut | $80,000 |
Learn More
- Accountants and Auditors : Occupational Outlook Handbook …
- Division of Corporation Finance: Staff Training
- SEC.gov | Division of Corporation Finance
| Career Name | Average Salary |
|---|---|
| Cost Estimator | $62,988 |
| Insurance Agent | $62,908 |
| Tax Analyst | $62,619 |
| Account Manager | $62,548 |
| Application Specialist | $62,451 |
| Project Analyst | $62,133 |
| Logistics Manager | $62,099 |
| Marketing Analyst | $61,822 |
| Finance Officer | $61,442 |
| Account Manager | $61,264 |
