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A Corporate Accountant is a vital member of every company team because they work directly with your business finances. Before you hire a professional accountant, you need to be sure that you can trust them to manage company money and records effectively.

In this article, we’ll define what a Corporate Account does and why they are crucial to your business operations. We’ll also give you some tips on what to look for in a solid Accountant and how to find the right professional for your unique company.

What is a Corporate Accountant?

A Corporate Accountant handles and manages company expenses, business taxes, payroll, cash flow, and other essential bookkeeping tasks. Corporate Accounts also provide tax advice, financial projections, and they make sure that your company is abiding by the federal regulation of tax compliance. 

Most business owners find it impossible to stay on top of managing all of their financial records because they have so many other important roles and responsibilities. Business owners rely on their Corporate Accountant’s expertise to advise and develop a financial strategy so owners and CEOs can stay informed and make appropriate business decisions. 

Overall workflow and business organization are improved when there is an accounting professional assigned to the role of managing company finances. 

The Value of a Business Accountant

Many hands are holding up the foundation of a company’s success and a Corporate Accountant is among the strongest and most valuable. You need a professional that you can trust to access your financial records and manage your cash flow which is no small responsibility.

Hiring the wrong business accountant can result in significant losses and security leaks if you aren’t careful. Similarly, an under-qualified or inexperienced accounting partner can miss crucial steps that leave your business with a tax audit or a financial mess to clean up. 

A Corporate Accountant should relieve your headaches, not cause one. When your business is looking to hire an accountant you need to know what to look for and be thorough in the interviewing process.

 Types of Accountants

There are many different types of accountants and the right account for your business depends on your company’s needs.

  • Accounting Clerk: Accounting Clerks work in excel to enter and organize financial statements and data for higher-up accountants to analyze.
  • Staff Accountant: Staff Accountants are members of your immediate staff and they are responsible for managing financial reports and data. This often includes overseeing accounts payable and receivable, budget management, reconciling accounts, financial forecasting, and compliance with federal regulations. Companies often have a team of staff accountants with various roles within these responsibilities.
  • Chief Financial Advisor (CFA): The CFA is the head of staff accountants and the primary financial advisor for the company. They manage and oversee the work, organization, and productivity of the staff accountant department and draw conclusions from their work to offer expertise to the CEO bigger-picture financial advice.
  • Certified Public Accountant (CPA): CPAs are experienced professionals who have passed the CPS exam.  They ensure federal and state tax regulations are met and they offer their expertise on financial projections. CPAs are the most experienced and knowledgeable in the accounting profession and they can represent you to the IRS.
  • Auditor: Auditors review and confirm that financial data has been recorded properly. External audits are often required in certain business industries so this professional may not be a member of your staff.

The size of your accounting department may correlate to the size of your company and the breadth of your finances. However, all companies can benefit from having some sort of an accounting team.

Business Accountant Salary Expectations

The salary expectations for your business accountant may vary but the average base salary for accountants is $56,045 per year and increases to $64,527 with 10 years of experience. 

According to Indeed, accounting is also a moderately competitive job with an average of 42 job seekers per accounting job opening. However, it is important to consider that this data was recorded in pre-pandemic December of 2020. In our post-pandemic job market, there are 9.3 million job openings in the US as of June of 2021. This means that employers’ search to attract top talent has become increasingly more competitive.

The job market favors employees and job seekers right now so salary expectations may reflect that. If you want a superb Corporate Accountant, you will likely need to pay them a superb salary.

Accounts may also work for you on a freelance basis which may be more friendly for your budget. If your business only requires an account during tax season or a few hours per week, then freelance business accounts may be a favored choice. 

Finding the Perfect Business Accountant

On your quest to find the perfect Business Account, your job posting is a crucial step in attracting authentic candidates. Poorly written job descriptions are one of the top reasons you’re losing candidates. If your description is too long, too vague, or indecipherable, then talent can become easily frustrated and dismiss the application.

You want to present your company genuinely and think about the sought-after accountant’s perspective. Ask yourself why they would want to work for your company beyond just the need for employment and highlight what makes your business unique. If you offer competitive salaries and benefits, mention that!

You also want a Corporate Account who aligns with your company values so outline the ideal experience, skills, and personality traits of your ideal candidate. You should also circulate the job posting broadly on sites like LinkedIn, Indeed, and other specialized job boards.

A trustworthy candidate can also be found through networking events and recommendations from other industry professionals. Ask around in your professional circle and you’re sure to collect at least one name. 

Staffing agencies can also be a huge tool in recruiting top talent. Locate a staffing agency that specializes in accounting and finance recruiting services and begin a partnership. Recruiters often have a wider pool of connections and more expertise in circulating job postings. There is a reason recruiting is known to be the most effective business strategy.

Make sure that you also respond to job applications for follow-up interviews promptly. Top candidates may get scooped up quickly by other businesses and if you move too slowly in the hiring process, you risk losing them to an organization that was a step ahead. 

Finally, when it comes time to interview the candidates, ask the right questions. Begin with asking them to briefly review their resume and qualifications/ education. Then proceed with some interview questions like these:

  • What experience do you have in my industry of business?
  • What accounting services do you specialize in?
  • How can you maximize my cost savings and profit margins?
  • What is your communication style?
  • What are your salary expectations/pricing structure?
  • Tell me about the biggest success in your career so far.
  • Can you represent me in front of the IRS? 
  • Knowing what you already do about my company, what financial advice could you offer?
  • What are your strongest skills? What skills do you need to work on?
  • What accounting software are you familiar with?

These types of questions will help you gauge the character of your candidate and their level of experience. These questions will also reveal how the candidate would fit into your company’s operations as they already exist and what they can do to improve your organization’s financial growth and workflow. 

Finding the right Corporate Accountant for your company may be tricky but we can relieve the pressure with our expertise in recruiting high-caliber accountants. Contact us today to feel assured and confident in your new accounting hire.