Individuals working in corporate accounting must have a technical background and a thorough understanding of how to record financial figures related to business transactions. Clerk, staff accountant, manager or supervisor, controller, and chief financial officer are all examples of corporate accounting job classifications. Accounts payable and receivable transactions are the responsibility of clerks. Staff accountants create profit and loss statements, prepare journal entries, and work on ad hoc projects. Managers and supervisors supervise and direct staff accountants, while controllers supervise the entire accounting department. Finally, chief financial officers are in charge of the entire financial department of a company.
Accounting clerks work in corporate accounting and typically do not require any formal education. Individuals with a high school diploma and little or no accounting experience are eligible to apply. Accounting experience is not required for jobs in accounts payable and accounts receivable because these positions primarily involve opening mail, contacting vendors or customers, and reconciling invoices to statements.
Staff accountants work closely with a company’s financial data on a daily basis. Although some companies may have different requirements, most corporate accounting jobs require a college diploma, a few years of experience, and professional certification. Financial figures must be gathered, reviewed, prepared, and corrected those in these positions. Accounting staff accountants report to an accounting supervisor or manager.
Accounting supervisors and managers are typically in charge of a single department. A company’s financial department, for example, may be made up of several smaller departments, such as general accounting, accounts payable or receivable, payroll, and cost accounting. Each smaller department will be overseen one or more accounting supervisors or managers. This structure enables businesses to separate accounting functions in order to comply with government regulations. Multiple accounting supervisors and managers can also provide the company with a presence in all aspects of accounting operations, limiting issues or irregularities.
Controllers are the highest-ranking accountants in an accounting firm. Education, licensure, and experience are all important requirements for these corporate accounting jobs, especially if you work in the company’s operating industry. All supervisors, managers, staff accountants, and clerks report to this position. Controllers also collaborate with the CFO to establish accounting policies and work with external auditors. They’ll also create an accounting manual to guide the activities of the corporate accounting positions and ensure a smooth workflow.
The position of chief financial officer is the pinnacle of corporate accounting. These individuals are in charge of the company’s overall financial and accounting policies, as well as opening bank accounts and establishing other finance-related business relationships. As a corporate officer, the individual will also report financial figures to the company’s other officers and stakeholders. While chief financial officers do not usually communicate directly with the public, they do collaborate with the communications officer to release financial data.