Had a recruiter lay out some common exit ops from audit, and two of the options they listed were Financial reporting and GL accounting. Are these the 2 categories when someone says “industry staff accountant”? Can someone help me understand the difference between the two? Any difference in pay and career progression? Appreciate all insights and opinions!

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GL accounting is preparing/approving the journal entries, handling month end close, etc. Financial reporting is the preparation of the financials, footnotes, etc. In GL accounting you will typically be very busy for a week or so each month, maybe a couple weeks at quarter/year-end if you’re working with the auditors and financial reporting. In financial reporting, you won’t have that monthly grind, but will be busy a few weeks each quarter and year-end.

I left audit for financial reporting at a F100 company about 10 months ago and feel it has been a smooth transition and I definitely work less hours compared to audit.

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Also in terms of pay, I would expect a 20-30% bump from audit for an exit opp. Career progression will very much depend on the org you’re looking at. Do some research on peoples linkedin profiles who work in finance and accounting roles when you find an org you’re interested in. Doing this will give you insight into 1. Whether the company promotes internally and 2. Whether the company offers transition opportunities to other departments/business units of the company. Both of those things are important as it shows the org is invested in its people, which likely means it’s a place where you’ll be able to grow.

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I think those are the easiest exit opps for your role but I’ve seen people move into Corp finance as well

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