Financial Accountant Salary Guide
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A Financial Accountant is responsible for running the accounting and financial activities of an organisation. They analyse the economic stability of the company and provide financial information to other departments, enabling these departments to make budgeting and investment decisions. A Financial Accountant reports on costs, productivity, margins and company expenditures.
Financial Accountant duties and responsibilities of the job
A Financial Accountant job description should highlight the following duties and responsibilities:
- Preparing the monthly profit and loss, and balance sheet reports
- Tax reporting and inventory processing
- Collecting and analysing data, which is then used in the preparation of weekly and monthly estimates
- Advising on estimates for project funding
- Creating KPI reports
- Preparing weekly cash flow statements, and controlling expenditure and cash flow
- Assisting with the preparation of year-end accounts and statutory accounts
- Responding to financial inquiries by gathering and interpreting data
- Conducting internal audits such as wage reviews
- Examining financial records to check for accuracy
- Managing and training staff when necessary
Financial Accountant job qualifications and requirements
A degree and experience in the financial field are required to gain a Financial Accountant role. Degrees in the following subjects should be highlighted as particularly advantageous:
- Accountancy or Finance
- Business Studies
A Chartered Accountant or Certified Practising Accountant qualification is likely to give a competitive edge to a Financial Account job description. Both CPA Australia and Chartered Accountants Australia and New Zealand offer accredited courses in these areas.
As well as formal qualifications, a Financial Accountant job description should detail the following qualities:
- An analytical mind
- Negotiation skills and the ability to develop strong working relationships
- Commercial and business awareness
- Good communication skills – both written and verbal
- A keen eye for detail and desire to probe further into data
- Deadline-orientated and an ability to stick to time constraints
There are a number of international accounting bodies that are recognised too.
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