This post provides complete information on the job description of an accounting analyst, to help you learn the tasks, duties, and responsibilities they are commonly charged with.
What Does an Accounting Analyst Do?
An accounting analyst is the person responsible for completing diverse tasks to help consumers and businesses remain lucrative.
One of the main responsibilities in the job description of an accounting analyst is the study of numbers; he/she dedicates a large chunk of his time to knowing what makes clients profitable.
This is done by comparing present and past statistics to know where each client can improve their business financially.
Ultimately, the information gathered is used by the accounting analyst to predict future trends that involve money.
The financial industry is one of the most popular sectors that hire accounting analysts, and global businesses consult these professionals so as to learn how to better take charge of their finances.
An accounting analyst is able to read many pages of loss and profit statements and fish out where waste or poor spending habits is affecting the cash flow of the company.
The accounting analyst’s role in a firm may also include finding banking strategies and profitable investments that would help the company make more money.
A perfect example of how an accounting analyst makes companies to make more profit can be found in a typical investment proposal.
If a business wanted to purchase another company, it would require somebody who could study the end result and overall profitability.
By examining each of its assets to determine the worth of the entity, he can then know what a fair market offer would be.
Another popular duty an accounting analyst performs is the process of complying with regional laws.
Businesses worldwide have various government expenses and taxes to pay, and it is the accounting analyst’s duty to be well versed in these laws.
A large chunk of his or her time is spent finding ways to reduce the company’s liability and studying tax codes.
Since these types of laws change constantly, an accounting analyst is often a lifetime student in this regard.
To stay on top of his game and be current within the field, the analyst usually takes out some weeks in a year to attend certification courses and seminars.
Accounting Analyst Job Description Example/Sample/Template
Here is an example of the accounting analyst job description, showing a list of duties, tasks, and responsibilities that individuals occupying the position usually perform:
- Create, monitor and post accruals and journal entries
- Perform fixed asset, general ledger, inventory and inventory reserve accounting for manufacturing locations
- Perform accounting closing duties with a special focus on manufacturing
- Coordinate reconciliation of sub ledger accounts and general ledger
- Provide and support appropriate levels of reviews and oversight for activities performed by offshore associates
- Ensure all deadlines and schedules are met on time and in accordance with Service Level Agreements
- Document workflow, procedures, checklists, and policies for assigned tasks
- Confirm and abide by all internal procedures, policies and regulatory guidance
- Requires approx. 5 to 10% travel; potential for international travel.
Accounting Analyst Job Description for Resume
The job description sample provided above can be a source of information for writing the job history section of the resume for the position of accounting analyst.
Accounting Analyst Requirements: Knowledge, Skills, and Abilities for Career Success
Here are important equipment employers usually demand from applicants for the accounting analyst position.
- Bachelor’s degree in finance, accounting plus more than 3 years of accounting experience
- Ability to utilize independent judgment in establishing the accuracy and reasonableness of information
- Proficiency in MS Office application plus MS Excel
- Ability to work cordially with people of different backgrounds in the organization
- Possess strong analytical, problem-solving, and organizational skills
- Ability to share knowledge and information at different levels of the organization
- Must be customer friendly and focused with strong attention to detail
- Proven ability to successfully resolve and manage conflict.