What does a Financial Accountant do?

Learn all about Financial Accountant duties, skills and much more. Get expert advice on how to become a Financial Accountant.

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Brenna Goyette
Certified Professional Resume Writer, Career Expert

Published 3 min read

A financial accountant is responsible for producing financial reports and overseeing a company's financial accounting, record-keeping, and budgeting processes. They may also be responsible for auditing a company's financial records and preparing tax returns. Financial accountants typically work in corporate accounting departments or in public accounting firms.

Financial Accountant job duties include:

  • Maintain and reconcile general ledger accounts
  • Prepare monthly, quarterly and annual financial statements
  • Assist with budget preparation and forecasting
  • Perform variance analysis to explain differences between budget and actual results
  • Coordinate audits with external auditors
  • Prepare and file corporate tax returns
  • Manage Accounts Receivable and Accounts Payable functions
  • Maintain fixed asset records
  • Monitor compliance with internal financial controls

Financial Accountant Job Requirements

A financial accountant typically needs at least a bachelor's degree in accounting or a related field. Many employers also require financial accountants to be certified public accountants (CPAs). Financial accountants must have strong math skills and experience using accounting software. They also need to be able to analyze financial data and prepare financial reports.

Financial Accountant Skills

  • Analytical skills
  • Profit and loss
  • Auditing
  • Financial statements
  • Accounting
  • Budgeting
  • Cost control
  • Income tax
  • Cash flow
  • Asset management
  • Risk management

Related: Top Financial Accountant Skills: Definition and Examples

How to become a Financial Accountant

A financial accountant is someone who is responsible for the financial records of a company. They are in charge of preparing financial statements, as well as managing the budget and forecasting future finances. Financial accountants also work with auditors to ensure that the financial statements are accurate.

Becoming a financial accountant requires at least a bachelor's degree in accounting or a related field. Many employers also prefer candidates who have experience working in accounting or finance. Financial accounting is a complex field, so continuing education is important for financial accountants. They must keep up with changes in tax laws and regulations, as well as new accounting software and technologies.

Financial accountants typically work full time in an office setting. They may work long hours, especially during busy times such as month-end or year-end closing. Some financial accountants may travel to meet with clients or attend conferences.

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