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Senior Accountant Job Description

Madhurjya Bhattacharyya
A senior accountant is a crucial and responsible position in any organization. It is he, who is responsible for dealing with the financial transactions of a company. Read on for more in-depth information of this job profile.
An accountant has the responsibility of keeping a record of the company's revenues and expenses, assets and liabilities, so that the owners and the investors have a clear understanding about the financial health of the company.
This is the job description of an accountant at the microscopic level, but as we know, companies today usually employ thousands of people, generating revenue which runs into millions of dollars. Keeping with the modern ways of business management, new methods of bookkeeping have also evolved.
The number of employees working in the accounts department of an organization has also increased, making it essential for senior accountants to play a more responsible role.
Annual fiscal reports are developed by accountants which are then given to the senior accountant for his consideration. The senior accountant presents these reports to the top management of a company. Thus, he needs to have good interpersonal skills and a keen analytic mind.

Duties and Responsibilities

  • Analyze and monitor the transactions taking place in an organization and ensure that they are recorded according to the accounting standards.
  • Prepare financial statements and reports within the deadline and mark entries in the accounts book.
  • Anticipate the challenges in the financial system of the organization and prepare a plan of action to counter it.
  • Work closely with the Chief Financial Officer (CFO) to keep him updated about the state of the affairs.
  • Verify the invoices that have been submitted for approval and present it to the supervisor. This also includes balancing the travel and lodging allowances etc.
  • Keep track of the accounts receivable transactions and keep a record of the receipts and cash payments.
  • Monitor physical assets of the company, their depreciation value and take effective steps to manage them.
  • Work closely with the human resource wing to process payroll on a weekly/bi-monthly/monthly basis.
  • Ensure that the bank account numbers are correct and make timely payments to clients, partners etc.
  • Keep a track of the shared and the indirect costs of the organization.
  • Manage the expenditures and come up with ideas on a robust cash management system.
  • Assist external and internal auditors during audit.
  • Manage the Use and Sales Tax accounting process.
  • Manage the Fixed Asset procedure, policy and process.
  • Study the revenues trends and expenses of the company so that they are appropriately recorded.

Education Requirements

  • A Bachelor's degree in accounting from a reputed college/university. CPA, CMA candidates are preferred.
  • 4-5 years of experience in a similar or related field.
  • A sound knowledge of the accounting and auditing principles.
  • Computer proficiency, especially Microsoft Office.

Salary

Like other professionals, the salary of a senior accountant too varies with experience and the organization they work in. An average salary of a senior accountant with 1 year experience can be around US $72,500 a year.
An average salary of a senior accountant with around 4 years of experience can be around US $66,900. Senior accountants may also be paid on hourly basis; and it can hover over US $ 27.12 - depending on the years of experience and the reputation of the companies that one has works with.
The career development path of a senior accountant is excellent, the only thing you need to keep in mind is to be good in accounts and have a keen analytic mind.
The job role of a senior accountant may depend on the requirements of the organization. However, the basis requirement from a senior accountant is to keep a record of the financial transactions of an organization.