Accounting administrators are responsible for ensuring that a company issues financial reports and statements that are accurate and free of errors. With the many tax laws and regulations in place, these professionals must have an understanding of current legislation and compliance requirements.
Accounting administrators are much like other accountants, but they concentrate on specialized tasks to ensure that the financial data for a specific aspect within a company is accurate or complete. An associate's or bachelor's degree in accounting, business administration, or a related field is typically required for this position.
|Required Education||Associate's or bachelor's degree in accounting, business, administration, or related field|
|Other Requirements||Must understand and adhere to United States tax codes|
|Median Salary (2018)||$70,500 (for all accountants and auditors)*|
|Projected Job Growth (2018-2028)||6% growth (for all accountants and auditors)*|
Source: *U.S. Bureau of Labor Statistics
An accounting administrator is responsible for completing duties in the areas of management, accounting, tax preparation, and financial planning services. Accounting administrators are business professionals with a knack for understanding the planning and organization within a corporation. These individuals help corporations function at maximum efficiency and achieve its goals.
Degrees & Credentials
Accounting administrators may have associate's or bachelor's degrees in accounting, auditing, business administration, or in other financial programs. During their careers, accounting administrators are responsible for corporate tax planning, preparation, and bookkeeping.
Impact of Sarbanes-Oxley
The Sarbanes-Oxley (SOX) Act of 2002 created many jobs for accountants and business professionals. The compilation of new tax rules and complex auditing regulations has had a significant impact upon large corporations. Severe penalties can be brought against a corporation for failure to comply with SOX regulations, and it is the job of an accounting administrator to assist these corporations in their efforts to adhere to these policies. Mishaps and mistakes are extremely costly, and one of the most important tasks of an accounting administrator is the preparation of error-free financial reports and statements.
Corporate Tax Planning Tasks
Accounting administrators spend a lot of time on tax planning and preparation of subsequent financial documents. There are a number of situations that can arise for large corporations. Because the United States tax code is very strict, it's the duty of an accounting administrator to ensure that corporations are in compliance with these regulations.
Salary & Job Outlook
With new regulations continuously being passed into law, companies are going to need accounting professionals to help them with these issues. These jobs tend to be located in larger cities, which are home to corporate operations. According to the U.S. Bureau of Labor Statistics (BLS) in 2018, the median annual income earned by accountants and auditors is $70,500.
Accounting administrators are responsible for tax planning, document preparation, and tax regulation compliance for their employers. A degree in accounting or finance can be a good option for these professionals as they prepare to enter their careers.