Different Types of Accounting Jobs

Getting hold of a good job in the field of accounting is always a smart decision. This is because accounting is one field which is always in great demand. Besides this, it is also a field that continues to grow and move ahead within a company. The field of accounting is packed with innumerable positions. Careers in accounting can range from the entry level positions to the executive levels. There are different types of accounting jobs but you must always go for a job that you are interested in and the one that best suits your individual requirements. You must have a basic understanding of the job, the educational requirements for the job and the salary that you can earn.

Types of Accounting JobsMain Areas for Well-Paid accounting Jobs

Accounting jobs are likely to differ depending on the specialization and the role required. The accountants are generally engaged in similar duties and job functions like financial planning, reporting, advising management, clients and government and budgeting. Most of the times, the different types of audit and accounting jobs available are dependent on the duties performed and the place of work. Some of the most important Types of Accounting Jobs include:

Audit

Audit seems to be the core of the accounting field. Careers in accounting auditing involve checking financial statements and accounting ledgers within non-profit and public organizations and businesses. This works in completely computerized and therefore it relies on random methods of sampling. The job provides a very solid foundation to the future specialists and enables the accountants to understand the organization’s procedure of making money.

Budget Analysis

Budget analysts develop and even manage the financial plans of an organization. This job might exist both in private industries and government organizations. For this job, individuals need to possess strong quantitative skills along with good social skills as budget analysts are required to involve in negotiations.

Financial Accounting

A financial accountant draws information from general ledgers for preparing financial statements. Financial accountants also participate in important financial decisions of a business involving acquisitions and mergers, long-term financial projections and employee benefits planning. The work of a financial accountant varies from week to week and therefore it requires a combined understanding of finance and accounting.

Management Accounting

A management accountant works in different companies and contributes to the decisions made in regards to business analysis and capital budgeting. Some of the most important activities of a management accountant include contracts analysis, participation in the efforts of controlling expenses and cost analysis. At present, management accountants serve as major contributors to the business decisions and they work alongside financial and marketing managers for developing new businesses.

Tax

A tax accountant prepares personal and corporate income tax statements. These professionals also takes the ownership of preparing strategies for deferring taxes, expensing items and coming up with the procedure of approaching an acquisition or merger. In order to become a tax accountant, you need to possess a complete understanding of tax code and economics. There are firms who also look for tax accountants possessing legal knowledge.

An Overview of Senior Accountant Job Description

Senior accountants are professionals taking the responsibility of reporting productivity, costs, expenditures and margins for organizations and companies. Dissimilar to junior accountants, these professionals usually do not carry out administrative tasks like data gathering, updating journal entries and populating balance sheets. They take the ownership of collecting and analyzing financial and accounting information for various businesses. They also bear the responsibility of supervising the associate accounting executives in the accounting department of a company. Employers generally look out for candidates with professional certifications and graduate degrees to serve as senior accountants. Senior Accountant Job Description would include the responsibilities and the duties of a senior accountant. We will have a detailed look at the responsibilities and the duties below:

Senior Accountant Job DescriptionMain Responsibilities and Duties of a Senior Accountant

Some of the most important responsibilities and duties of senior accountants are as follows:

Accounting

Senior accountants are required to perform various accounting functions. Apart from these they book, reconcile and report n-force premium, loss of fund balance, direct written premium, retro accrual, bad debt allowance, non-admitted A/R and cash applied to A/R on a monthly basis. Month-end and back-up duties are also assigned to senior accountants.

Analysis and Reporting

Senior accountants assist in the preparation of narratives and worksheets monthly management reports along with accompanying schedules. They also prepare actual vs. budget variance reports. Senior accountants also carry out the task of following-up the documentation of important variances. They provide the required help with the completion of annual and quarterly regulatory filings.

Examinations and Audits

A senior accounts helps with DOI examination and external audit carried out on an annual basis. They complete requested materials and help in the preparation of assigned schedules for interim and annual audit.

Systems

Senior accountants provide proper help in accordance with testing and receiving the final approval for all the system reports needed for financial reporting, general ledger reconciliations and management.

Cash or Banking

These professionals resolve and even coordinate various issues in relation to banks like bank fee anomalies, enhancement of online services, cleared check differences and targeted balance calculations. They also monitor bank liaison and positive pay exceptions.

Other

The other miscellaneous duties performed by senior accountants include:

•    Conforming and abiding by all the internal procedures and policies and regulatory guidance.

•    Documenting policies, workflow and procedures for the assigned areas of job ownership.

•    Maintaining project log.

•    Contributing to the organization’s and the department’s special projects.

•    Using in-depth knowledge of company practices and accounting principles in combination with accounting experience for performing financial analysis and accounting activities.

•    Analyzing complicated financial records and reports.

•    Mentoring and training junior staff.

•    Reviewing the journal entries of the junior accountants for ensuring accuracy.

•    Making recommendations on the basis of status and analysis of expenditures, reserves and assets.

•    Coordinating complicated accounting initiatives and projects with the other members of the finance and accounting team and even with other departments.

•    Monitoring and documenting internal controls for support of the auditing team.