Financial Accountant Job Description Example
What Does a Financial Accountant Do?
Financial accountants are responsible for the smooth running of an organization’s financial operations.
Their job description involves various management duties that aid the decision making and financial plans of an organization.
In performing their duties, financial accountants oversee the recording and review of financial transactions conducted over a period of time.
They ensure proper balancing of an organization’s financial records in preparation for yearly external audits.
They also develop business forecast and conduct analysis of annual budgets to ensure its feasibility.
Financial accountants oversee the preparation and presentation of financial reports to management.
They produce reports which guide the financial decisions of a company. They also proffer recommendations and advice to company management on issues bordering on revenue, expenses, and investment.
Their work description also entails implementing strategies that limit tax liabilities and ensure consistent tax filing.
They conduct analysis of business operations, investments and liability to determine the financial status of a company.
They also carry out surveys to identify accounting needs and implement strategies effective for improving operational efficiency.
Usually, financial accountants develop and implement standards for record keeping and data management.
Their role also includes compiling and analyzing data to prepare quarterly and annual statements for an establishment.
They also ensure compliance with standard financial regulations and processes when carrying out job activities.
Financial accountants provide response to internal financial inquiries by collecting, analyzing, and interpreting data.
They act as company tax proxies to represent an organization before a tax authority.
Part of their functions also involves supervision of accounting and bookkeeping staff to ensure work activities are in line with set standards.
Financial accountants occasionally participate in conferences and seminars to update existing job knowledge and expand personal network.
To access this position, you will require at least a Bachelor’s degree in accounting and certification from recognized bodies such as the Institute of Management Accountants.
Qualities needed for success on the financial accountant position include analytical, math, and communication skills.
Financial Accountant Job Description Example/Template
The job of a financial accountant entails various functions. The job description example below gives the major duties, tasks, and responsibilities most employers will likely assign to individuals who work in this role:
- Oversee the recording and review of financial transactions conducted over a period of time
- Ensure financial records are balanced as part of preparation for annual external audits
- Develop business forecast and analyze annual budgets to ensure its feasibility
- Produce and present reports which guide the financial decisions of a company
- Proffer advice and recommendations to company management or issues related to revenue, investment, and expenses
- Implement strategies effective for limiting tax liabilities and on the other hand ensure consistent tax filing
- Analyze business operations, investments and liabilities to determine the financial status of a company
- Carry out surveys to identify accounting needs and implement strategies effective for improving operational efficiency
- Compile and analyze data to prepare quarterly and annual statements for an organization
- Develop and implement standards for effective record keeping and data management
- Provide response to internal financial enquiries by collecting, analyzing, and interpreting data
- Ensure compliance with standard financial regulations and policies when carrying out job activities
- Act as company tax proxies to represent an organization before a tax authority
- Supervise accounting and bookkeeping staff to ensure work activities are in line with set standards
- Participate in conferences and seminars to update existing job knowledge and expand personal network.
Financial Accountant Resume Preparation
When preparing a resume for the financial accountant position, the work experience part of the resume can be made by taking texts from the sample job description for the position presented above.
If you have worked or are currently working as a financial accountant, the listed duties and responsibilities are the activities you carry out on a daily basis on the job, and so can be used in effectively highlighting your work experience.
Requirements – Skills, Abilities, and Knowledge – for Financial Accountant Job
If you are thinking of seeking employment as a financial accountant, here are the common employers’ requirements that you will be expected to satisfy:
- Education and Training: To become a financial accountant, you require at least a Bachelor’s degree in accounting or in a related field. Some employers prefer applicants with a Master’s degree in accounting or business administration. Practicing as a financial accountant also requires certifications from bodies such as the Institute of Management Accountants
- Math Skills: Financial accountants are skilled in calculating financial figures and data to obtain relevant information that guides the financial decisions of a company
- Communication Skill: Financial accountants are skilled at interacting with senior managers to identify the accounting needs of an establishment
- Analytical Skills: They are well versed in conducting financial analysis to minimize tax liabilities and improve operational efficiency.
Financial Accountant Skills for Resume
The employers’ requirements given above can be used in making the skills section of a financial accountant’s resume.
For the fact that these are qualities employers for this role are usually interested in because they believe financial accountants who have such qualities and skills will be high performers on their job, it is therefore wise to acquire and highlight them in your resume; this makes the document more compelling to employers.
If you are interested in the financial accountant career and want to know what financial accountants actually do, this post provides the typical duties and responsibilities that mostly make up their job descriptions.
The financial accountant job description template also given in this post can be applied by employers in creating their own work description for use in recruiting new staff for the role and assigning tasks to them.
Did this post help increase your understanding of the job description of a financial accountant? Please leave a comment in the box below. And if you are a financial accountant, we will also appreciate your sharing your work experience with us.
Job Assessment Tests: How to Top Your Competition
As part of the hiring process, most applicants that passed the initial Resume/CV screening phase are required to pass an assessment test for the job or apprenticeship position they are applying for.
The goal of this phase is to determine if the candidate has the appropriate set of skills and qualities to excel on the job.
Find out the tests you will be needing to take for the position you are applying for; get lots of success proven Practice materials to prepare with now: Sure way to make high scores in job tests.