Definition of Junior accountant:
The duties and future career prospects for a junior accountant depend on the situation and the abilities of the candidate. A junior accountant holds an entry-level position in the accounting department of an accounting or auditing firm or the government. Junior accountants have an interest in finance. Accountants learn the ins and outs of the industry in which they work because they are privvy to all the expenses, revenues, and investments that are involved in a business entity. A qualified accountant earned an average of $70,500 in 2018, according to the Bureau of Labor Statistics.
The entry-level position of an accounting firm or department, and generally the title received by recent college graduates hired for their first accounting job. Duties at this level may include journal / bookkeeping entries, updating financial statements, preparing financial reports, calculating payroll taxes, auditing and maintaining accounts payable and receivable.
A junior accountant maintains and compiles financial reports and statements in compliance with government regulations and requirements. The junior accountant may analyze balance sheets, manage general ledger accounts, update financial statements, maintain accounts receivable and accounts payable, pay monthly payroll, and prepare financial reports. Accountants, auditors, and junior auditors typically work full time. Overtime hours may be required during tax season or at the end of the fiscal year.
How to use Junior accountant in a sentence?
- A junior accountant holds an entry-level position in an accounting department.
- The junior accountant's duties include posting journal entries, updating financial statements, maintaining accounts receivable and accounts payable, paying monthly payroll, and preparing financial reports.
- A bachelors degree in accounting is typically a prerequisite along with a high level of attention to detail.
- A junior accountant is supervised by a senior accountant or accounting manager.
Meaning of Junior accountant & Junior accountant Definition