Entry Level Accounting Jobs | Titles, Duties & Salary Range

Summary

The video discusses entry-level accounting jobs suitable for new graduates with a four-year degree in accounting. Key points covered include salary expectations, job titles, and responsibilities in both public and private accounting sectors.

Main Financial Strategies and Market Analyses

• Salary Expectations:
  • National average salary for entry-level accountants: $43,000 per year.
  • Average salary in New York City: $48,000 per year, with potential to reach up to $58,000 depending on the industry.
  • Higher salaries are typically found in software companies compared to manufacturing or services.
• Industries:
  • Public Accounting: Involves working for accounting firms, focusing on audit or tax work.
  • Private Accounting: Involves working directly for a company, which could be publicly traded or privately owned.

Job Titles and Responsibilities

1. Public Accounting:
   • Audit Associate:
     • Responsibilities include assisting in audit reviews, compiling financial statements, preparing work papers, resolving audit issues, and understanding clients' accounting systems.
   • Tax Associate:
     • Responsibilities include preparing tax returns, conducting tax research, and communicating with clients to gather necessary information.
2. Private Accounting:
   • Billing Analyst:
     • Responsible for bi-weekly invoice preparation, resolving billing inquiries, and assisting with client account reconciliation.
   • Accounts Payable Specialist:
     • Responsibilities include processing invoices, preparing checks, verifying expense reports, and performing monthly account reconciliations.

Methodology/Step-by-Step Guide

• For Audit Associate:
  • Assist in audit reviews and compilations.
  • Prepare work papers with supporting documentation.
  • Resolve discrepancies by communicating with clients.
  • Understand the client's accounting systems and audit risk concepts.
• For Tax Associate:
  • Prepare various tax returns under supervision.
  • Conduct necessary tax research and communicate with clients.
• For Billing Analyst:
  • Prepare and distribute invoices bi-weekly.
  • Research and resolve billing inquiries.
  • Assist with account reconciliation.
• For Accounts Payable Specialist:
  • Process and verify invoices and expense reports.
  • Perform monthly reconciliations and maintain financial records.

Presenters/Sources

• Bill Hannah, Financial Controller and Licensed CPA with over 15 years of experience in finance.