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The differences between finance reporting accountants and general 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 a general accountant. Additionally, a finance reporting accountant has an average salary of $67,545, which is higher than the $55,043 average annual salary of a general accountant.
The top three skills for a finance reporting accountant include GAAP, reconciliations and external auditors. The most important skills for a general accountant are financial data, reconciliations, and cash handling.
| Finance Reporting Accountant | General Accountant | |
| Yearly salary | $67,545 | $55,043 |
| Hourly rate | $32.47 | $26.46 |
| Growth rate | 6% | 6% |
| Number of jobs | 112,234 | 87,663 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 79% | Bachelor's Degree, 75% |
| 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.
A general accountant is responsible for evaluating account statements, conducting data analysis with financial transactions, and generating reports on revenues, expenses, and sales forecasting. These accountants manage discrepancies on the company and clients' profiles, including bank reconciliations and processing of account receivables and payables. They also handle the release of invoices and petty cash, analyzing balance sheets, and updating accurate financial information on the database. A general accountant must have excellent analytical skills, as well as extensive knowledge of the accounting principles and disciplines.
Finance reporting accountants and general accountants have different pay scales, as shown below.
| Finance Reporting Accountant | General Accountant | |
| Average salary | $67,545 | $55,043 |
| Salary range | Between $50,000 And $90,000 | Between $40,000 And $73,000 |
| Highest paying City | Washington, DC | Washington, DC |
| Highest paying state | Massachusetts | New Jersey |
| Best paying company | Western Alliance Bank | Apple |
| Best paying industry | Retail | Automotive |
There are a few differences between a finance reporting accountant and a general accountant in terms of educational background:
| Finance Reporting Accountant | General Accountant | |
| Most common degree | Bachelor's Degree, 79% | Bachelor's Degree, 75% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance reporting accountants' and general accountants' demographics:
| Finance Reporting Accountant | General Accountant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 45.3% Female, 54.7% | Male, 43.1% Female, 56.9% |
| 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, 8.7% Unknown, 4.0% Hispanic or Latino, 11.1% Asian, 13.7% White, 62.1% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 7% | 7% |