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The differences between finance reporting accountants and accountants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a finance reporting accountant and an accountant. Additionally, a finance reporting accountant has an average salary of $67,545, which is higher than the $54,890 average annual salary of an accountant.
The top three skills for a finance reporting accountant include GAAP, reconciliations and external auditors. The most important skills for an accountant are reconciliations, general ledger accounts, and account reconciliations.
| Finance Reporting Accountant | Accountant | |
| Yearly salary | $67,545 | $54,890 |
| Hourly rate | $32.47 | $26.39 |
| Growth rate | 6% | 6% |
| Number of jobs | 112,234 | 60,073 |
| Job satisfaction | - | 3 |
| Most common degree | Bachelor's Degree, 79% | Bachelor's Degree, 71% |
| Average age | 44 | 44 |
| Years of experience | 4 | 4 |
A finance reporting accountant is responsible for monitoring the efficiency and accuracy of the company's financial reporting procedures. Finance reporting accountants analyze the financial statements of the company, including its expenses, balance sheets, revenues, cash flow, and other related financial information and discuss it to the management. They also provide strategic recommendations to minimize loss through cost-reduction operational processes and identifying business opportunities to increase profits. A finance reporting accountant should have excellent knowledge of the accounting principles and disciplines, evaluating financial forecasts and resolving account discrepancies.
An accountant is an individual whose primary task is to prepare, keep, examine, and interpret financial records. Most accountants are in charge of a wide scope of finance-related tasks, either for private individuals or for large-scale businesses and organizations they are employed with. They make sure that financial statements and records are accurate and comply with laws and regulations. They also compute for taxes, prepare tax returns, and ensure being paid properly and on time. As they keep track and record the flow of money, they can offer guidance on how to reduce costs, enhance revenue, and help in profit maximization.
Finance reporting accountants and accountants have different pay scales, as shown below.
| Finance Reporting Accountant | Accountant | |
| Average salary | $67,545 | $54,890 |
| Salary range | Between $50,000 And $90,000 | Between $41,000 And $72,000 |
| Highest paying City | Washington, DC | Washington, DC |
| Highest paying state | Massachusetts | New York |
| Best paying company | Western Alliance Bank | Meta |
| Best paying industry | Retail | Technology |
There are a few differences between a finance reporting accountant and an accountant in terms of educational background:
| Finance Reporting Accountant | Accountant | |
| Most common degree | Bachelor's Degree, 79% | Bachelor's Degree, 71% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance reporting accountants' and accountants' demographics:
| Finance Reporting Accountant | Accountant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 45.3% Female, 54.7% | Male, 38.2% Female, 61.8% |
| Race ratio | Black or African American, 8.4% Unknown, 4.0% Hispanic or Latino, 10.8% Asian, 15.6% White, 60.8% American Indian and Alaska Native, 0.5% | Black or African American, 8.6% Unknown, 4.0% Hispanic or Latino, 10.9% Asian, 15.0% White, 61.1% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 7% | 7% |