Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
What is a principal accountant and how to become one
A principal accountant is responsible for leading a company's accounting department to oversee financial systems and provide budgetary advice. He/She reviews and develops policies and procedures. He/She leads the development and management of operational accounting controls. His/Her job is to prepare financial statements and perform analyses to identify areas that require improvement. Also, he/she trains and mentors the accounting staff and ensures they comply with the company's policies. Principal accountants are in charge of authorizing the purchase of services, supplies, and equipment within the set budgets. Likewise, they oversee complex balance sheet reconciliations and cost management.
Employers require a bachelor's degree in accounting, finance, or any related field with at least five years of professional experience in a related role. You must possess communication, problem-solving, collaboration, and analytical skills. You must know about software and data management. Principal accountants make an average annual salary of $82,858 or $39.84 per hour. This ranges from $62,000 to $110,000.
What general advice would you give to a principal accountant?
Stephen Moehrle Ph.D.
Professor and Chairman of Accounting, University of Missouri - St. Louis
Most of the above remains true so the only open question is job availability. It would be unrealistic to say things are great. However, it seems that job prospects for accounting majors will be better than for those of virtually every other entry-level profession during difficult times. I have been speaking with firm leaders across the spectrum of firms and most do intend to be on campus in the fall recruiting season. Of course, they have a lot of time to learn more about the economy over the next few months, but we are cautiously optimistic. Again, I am confident that whatever the state of job availability for young CPAs-to-be, prospects will be better for accounting graduates than virtually any other profession.
They will be entering the profession at a fascinating moment in time. Of course, the technological advances assure this regardless of economic conditions. However, there are business disruption-related issues that will provide rich opportunities for making a difference. For example, audit staff will be working with clients to see them through these troubling times. Lamentably, I fear that these young professionals will learn more about the going concern determination than they desire to know. Tax staff will help clients to optimally use the tax loss carrybacks and carryforwards that are arising by the day. Entry level professionals in corporate accounting will get a day-to-day front row seat in business management through crisis. While lamentable times, these are times when young professionals can make a difference that saves jobs.
Avg. Salary $94,808
Avg. Salary $59,228
Growth rate 6%
Growth rate 0.3%
American Indian and Alaska Native 0.46%
Asian 12.14%
Black or African American 8.74%
Hispanic or Latino 11.08%
Unknown 3.97%
White 63.60%
Genderfemale 45.45%
male 54.55%
Age - 43American Indian and Alaska Native 3.00%
Asian 7.00%
Black or African American 14.00%
Hispanic or Latino 19.00%
White 57.00%
Genderfemale 47.00%
male 53.00%
Age - 43Stress level is manageable
7.1 - high
Complexity level is challenging
7 - challenging
Work life balance is good
6.4 - fair
Principal accountant career paths
Key steps to become a principal accountant
Explore principal accountant education requirements
Start to develop specific principal accountant skills
Skills Percentages GAAP 7.03% CPA 6.88% Reconciliations 6.06% Business Development 5.92% Account Management 5.51% Complete relevant principal accountant training and internships
Accountants spend an average of 1-3 months on post-employment, on-the-job training. New principal accountants learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a principal accountant based on U.S. Bureau of Labor Statistics data and data from real principal accountant resumes.Research principal accountant duties and responsibilities
- Manage derivative accounting at global level and ensure accounting and economic hedging objectives are align.
- Apply and explain GAAP principles to students, departments and vendors.
- Collect and verify project assumptions and overhead data, ensure Hyperion reporting system capture accurate data during planning process.
- Maintain Medicaid regulations, guidelines, and manuals pertaining to community mental health services.
Get principal accountant experience
Generally, it takes 2-4 years to become a principal accountant. The most common roles before becoming a principal accountant include senior accountant, accountant team lead and staff accountant.Prepare your principal accountant resume
When your background is strong enough, you can start writing your principal accountant resume.
You can use Zippia's AI resume builder to make the resume writing process easier while also making sure that you include key information that hiring managers expect to see on a principal accountant resume. You'll find resume tips and examples of skills, responsibilities, and summaries, all provided by Zippi, your career sidekick.
Choose from 10+ customizable principal accountant resume templates
Build a professional principal accountant resume in minutes. Browse through our resume examples to identify the best way to word your resume. Then choose from 10+ resume templates to create your principal accountant resume.
Apply for principal accountant jobs
Now it's time to start searching for a principal accountant job. Consider the tips below for a successful job search:
- Browse job boards for relevant postings
- Consult your professional network
- Reach out to companies you're interested in working for directly
- Watch out for job scams
How did you land your first principal accountant job
Are you a principal accountant?
Share your story for a free salary report.
Average principal accountant salary
The average principal accountant salary in the United States is $94,808 per year or $46 per hour. Principal accountant salaries range between $66,000 and $134,000 per year.
What am I worth?
How do principal accountants rate their job?
Principal accountant reviews
Reporting to a CPA Controller or CFO, always learning and not micromanaged. Treated as a professional always.
Business owners that do not know or understand compliance and GAAP, or the patience to follow the rules... generally common in small companies.
It's an office job.
Everything else. Too much anxiety, debts, low sallary (€700/month).
I like when the numbers fall in to place. I enjoy helping clients reach their financial goals. I am great with client consultations. I appreciate the chance to help plan for a client's needs.
I dislike situations where no planning had been done. I am bothered when a client has an accounting problem that could have been avoided by proper planning.
Updated January 8, 2025
