The job description is an essential hiring tool. In fact, it can serve a dual purpose, helping you attract the specific talent you need while at the same time discouraging those without the required skills from applying. In addition, it can establish consistent criteria to use in evaluating candidates.

Whether you're looking to replace someone who has left or creating a new role entirely, developing this document is an opportunity to think critically about your hiring needs. It should not only identify key job functions but also sell your firm to potential hires.

Following are the major elements of an effective job description:

Responsibilities – This section should list specific, ongoing job duties of a position. Be specific about responsibilities, and include the frequency with which each task will be performed.

Skills and attributes – List the technical and financial knowledge required, as well as the soft skills you desire. Be specific: For instance, rather than simply stating that a candidate should have "management abilities," list the exact requirements: "must be able to supervise a team of staff and entry-level accountants and provide feedback on their job performance."

Education and experience – Be sure that this category is a reflection of your actual requirements, rather than just your preferences. The credentials you establish should be those that have direct bearing on the ability to perform the duties of the position.