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The differences between finance reporting accountants and junior 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 junior accountant. Additionally, a finance reporting accountant has an average salary of $67,545, which is higher than the $50,444 average annual salary of a junior accountant.
The top three skills for a finance reporting accountant include GAAP, reconciliations and external auditors. The most important skills for a junior accountant are reconciliations, general ledger accounts, and account reconciliations.
| Finance Reporting Accountant | Junior Accountant | |
| Yearly salary | $67,545 | $50,444 |
| Hourly rate | $32.47 | $24.25 |
| Growth rate | 6% | 6% |
| Number of jobs | 112,234 | 57,892 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 79% | Bachelor's Degree, 70% |
| 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.
Junior accountants maintain the financial records of companies through the analysis of their general ledger accounts and balance sheets. The accountant's post journal entries, maintain accounts receivable and payable, and update financial statements. They pay payroll every month, reconcile ledgers, and submit payroll taxes. The skills necessary for this job include analytical skills, problem-solving, information confidentiality, and proficiency in accounting software and technology. They are also expected to be detail-oriented.
Finance reporting accountants and junior accountants have different pay scales, as shown below.
| Finance Reporting Accountant | Junior Accountant | |
| Average salary | $67,545 | $50,444 |
| Salary range | Between $50,000 And $90,000 | Between $38,000 And $66,000 |
| Highest paying City | Washington, DC | New York, NY |
| Highest paying state | Massachusetts | New York |
| Best paying company | Western Alliance Bank | Fuhu |
| Best paying industry | Retail | Construction |
There are a few differences between a finance reporting accountant and a junior accountant in terms of educational background:
| Finance Reporting Accountant | Junior Accountant | |
| Most common degree | Bachelor's Degree, 79% | Bachelor's Degree, 70% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance reporting accountants' and junior accountants' demographics:
| Finance Reporting Accountant | Junior Accountant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 45.3% Female, 54.7% | Male, 39.6% Female, 60.4% |
| 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, 7.9% Unknown, 3.9% Hispanic or Latino, 10.2% Asian, 16.6% White, 60.9% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 7% | 7% |