Senior accountant job description
/What is a Senior Accountant?
A senior accountant is an experienced and well-trained person who works on financial accounting and management accounting tasks. This person typically has a four-year accounting degree, and may possess a CPA or CMA certification. The senior accountant position can be targeted at a specific functional area. For example, this person may be placed in charge of the payables area or payroll area.
What is the Career Path of a Senior Accountant?
This position is located in the organizational structure of the accounting department just below the assistant controller. Senior accountants are normally promoted into the assistant controller position, from which their career path is into the controller position. However, it is also possible for someone with this job title to be permanently targeted at a specific technical position, such as cost accountant or public company reporting specialist. People in these specialized roles do not necessarily have a career path out of the position.
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Senior Accountant Duties
A senior accountant is typically involved in or is responsible for a selection of the following activities:
Prepare financial statements. Compile accurate and timely income statements, balance sheets, and cash flow statements in accordance with GAAP.
Manage general ledger activities. Oversee entries, reconciliations, and adjustments to ensure the ledger accurately reflects financial transactions.
Conduct month-end and year-end close. Coordinate the closing process by reviewing accounts, posting journal entries, and ensuring completeness of financial data.
Reconcile accounts. Regularly reconcile bank statements, intercompany accounts, and other key financial records to identify discrepancies.
Analyze financial data. Examine financial results, identify trends or anomalies, and provide actionable insights to management.
Support budgeting. Assist in preparing budgets and forecasts by analyzing historical data and collaborating with department heads.
Maintain internal controls. Develop and monitor internal control systems to safeguard company assets and ensure compliance with policies.
Coordinate audits. Work with external auditors by providing documentation, explaining financial data, and addressing audit inquiries.
Ensure compliance with accounting standards. Stay updated on GAAP and regulatory requirements to ensure all financial reporting is compliant.
Supervise junior staff. Train and mentor junior accountants, review their work for accuracy, and support their professional development.
Assist with tax filings. Prepare or support the preparation of tax documents and ensure compliance with federal, state, and local tax laws.
Prepare journal entries. Record complex journal entries related to accruals, depreciation, amortization, and other accounting adjustments.
Monitor fixed assets. Track the acquisition, depreciation, and disposal of fixed assets, ensuring proper accounting treatment.
Manage intercompany transactions. Oversee financial activity between related entities, ensuring accurate recording and reconciliation.