Accountants salary is $31, 076 on average in North America. As his experience reaches five years, his annual harvest could reach up to $65,674. The mean annual wage falls at around $45, 511. Most accountants are paid $9.92 to $35.24 hourly which greatly varies on his years of experience, location and certification. Keep reading for more information about accountants salary and career requirements.
Accountants job description
An accountant verifies the accuracy of each entry written in financial statements. He makes sure that financial statements adhere with the generally accepted accounting principles and is under compliance to national laws. He computes company assets and liabilities, prepares balance sheets to generate annual financial reports. He also computes taxes payable and makes sure that the company paid the exact amount of taxes on the exact datein line with the accounting calendar. He also reviews previous account books and identifies the vulnerability of thepresent accounting system. He may alsoperform SWOT analysis in line with the generated financial reports. The output could be useful in the assessment of financial activities and suggest areas of improvement, recommendbetter business practices, minimize expenses, boost income and maximize profits. Generally, there are four types of accountants: (1) public accountants – those whose clients are public establishments, (2) management accountants – hired by private firms, (3) government accountants – examine government financial records and (4) internal auditors – evaluate negligence on organizational funds
How much money does an accountant earn ?
Average accountants salary
Accountants salary starts from around $32, 000 and does not exceed $70,000. The average annual pay could reach up to $45, 000 excluding perks and bonuses. Annual accountants bonus falls between $200 and $600.
Accountants salary in USA
The median annual wage of an accountant in US is $61,690. In about an hour, he could earn a minimum of $30. An entry level accountant has annual earnings of $31,203. Accountants salary depends on the accountants location and experience.
Accountants salary by perks: an entry level accountant with less than one year experience receives an annual bonus of $203; an accountant with less than five years takes home $968 worth of bonus yearly; a veteran practitioner with less than two decades experience yields around $1,000 annually; an accountant working for more than twenty years receive half as much which is roughly around $600.
Accountants salary by state
Accountants salary by state: an accountancy practitioner in Alaska is annually paid $57,000; an accountant in Florida and Delaware earns annually around $53,000 and $51,000 respectively; one working in Illinois receives less than $60,000; an accountant in California reaps roughly $61,000 yearly; New York and Mississippi, the states offering the biggest accountants salary awards the accountant with $65,000.
Accountants hourly pay rate is as follows: an American accountant with less than one year experience is paid $9.92 to $20.80 per hour; if his experience bubbles up to four years, his hourly pay rate increases significantly to $23.59; an accountant with less than twenty-year experience yields more than $30; a veteran practitioner with twenty-year experience or more enjoys an hourly pay of $35.
Compare accountant salary with actuary salary around the world.
Accountants salary in Canada
The minimum accountants salary received by a practitioner in Canada is 2,700 CAD (Canadian Dollars). A skilled practitioner with rich experience in the industry takes home a maximum of 10,000 CAD every year. An average accountant is paid 4,656CAD yearly.
Accountants salary in UK
Fresh graduates or entry level accountants in UK receives £25,000. Once his experience on the field grows, accountants salary could double up to £50, 000 or more. The average salary of an accountant in UK with nine year- experience is around £85,000. Salary packages in UK include perks and bonuses, car allowances, health insurance and profit- sharing schemes.
Accountants salary in Australia
An entry level accountant in Australia is initially paid $10,000. If he pursues his career and become a veteran practitioner in the industry, his maximum yield per year could reach up to $600,000. The minimum and maximum accountants salary gap in Australia depends on years of experience, location and certification. The average accountants salary falls at $94,963excluding bonuses, which could reach $4,250 maximum per year.
Accountants salary in India
An accountant in India receives a starting salary of Rs97, 186. As his experience in the industry grows, he can take home up to Rs397, 146 annually. The median annual wage plays at around Rs190, 047 excluding the perks. Annual bonus could reach up to Rs 38, 572.
Accounting requires a massive skill on numbers and computations. One must perform well in math during high school as preparation for getting a college degree in accountancy. Next step is to enroll a bachelors program in accountancy in a university. After receiving the baccalaureate degree, he is now commendable to take the examination which would lead him to become a Certified Public Accountant (CPA). Prior to that, he must research the federal requirements specified by his state and make sure that the university he enrolls meet those requirements. During the course of study, he must familiarize various accounting software packages for industry use. Internships could also help him be aware of the business procedures and accounting principles set by real accounting firms. If he passes the CPA exam, he is now ready to be an accountant. To enjoy high end pay scales, he must have rich experience in the industry and acquire competency certifications.
Conclusion on accountants salary
The median annual wage of an accountant in US is $61,690. In about an hour, he could earn a minimum of $30. In India, an accountant receives a starting salary of Rs97, 186. As his experience in the industry grows, he can take home up to Rs397, 146 annually. Fresh graduates or entry level accountants in UK receives £25,000. An entry level accountant in Australia is initially paid $10,000.An average accountant Canada is paid 4,656 CAD yearly.