Some people opt to follow their heart’s desire, others follow their mind and the third group follows money. Those who choose money may find a great career that satisfies their heart. Similar with other positions, there is a particular starting point as well as an ending point. In aspiring for an accounting profession, the foremost starting point is a career as a junior accountant. Keep reading for a junior accountant job description, qualifications, and salary expectations.
What is a junior accountant?
A junior accountant is an entry-level position in a wide arena of accounting. They are also considered as an employee in a public accounting firm who has tasks and duties that are associated with early years of professional practice and works under the umbrella of a senior accountant.
Duties of a junior accountant
- The primary role of junior accountants is generally to provide an accurate accounting support to their senior accountants.
- Junior accountants mostly review their company’s expenditures and revenues and make some suggestions in order to maximize the company’s finances. However, the decisions of whether to accept or reject those accounting suggestions lie in the hands of their senior accountant.
- Junior accountants may also prepare company’s journal entries, keep their balance sheet updated and assist regarding monthly account closings.
- They support their senior accountant through accomplishing some of the crucial accounting department responsibilities.
- It is also important to pay particular attention to accuracy and specific detail for a competent accounting performance which includes the capacity to analyze skills and issues to resolve problems in an efficient manner. Great communication skills are core keys to junior accountant’s project planning, organizing and scheduling by priority.
Condition of Work
A junior accountant mostly works in the office, in the bank or in any accounting firm wherein they can perform several duties. Their job mostly covers preparation of monthly financial reports, calculates taxes and maintains accounts receivable and accounts payable. With this, junior accountants must be fully equipped with the right knowledge and skills to prepare and create forecasts as well as matching budgets.
Most of junior accountants have attained a degree in accounting or any other related fields like business, math and finance. They often require having an intern experience in an accounting department or financial services in an organization. Junior accountants typically have less than 5 years of accounting experience in their particular field.
Occupation and Progress
The United States Bureau of Labor and Statistics (BLS) predict that a career in accounting is one of the top 10 in demand industries for the next quarter century. This particular forecast is very appealing for junior accountants especially when considering that their earnings can reach above $50,000 per annum.
Junior Accountant salary expectations
An entry-level junior accountant can make between $48,000 – $69,000 per year according to Glassdoor. Salary may depend on level of education, experience and geographical location.
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