A Financial Accountant plays an integral role in the success of any organisations. It provides a career path that gives an unparalleled insight into the inner workings and running of business and industry.
A Financial Accountant is heavily involved in the day to day organisation and running the business. Responsibilities include the creation of financial statements which provide a view on the company’s operating performance at a given point in time. Financial statements are typically comprised of balance sheet and income and cash flow statements, and are primarily created for external parties including investors, regulators, creditors and tax authorities.
A Financial Accountant is generally the role most people envisage when thinking of a traditional accounting career, being responsible for keeping track of a company's financial transactions (based on incomings, outgoings, liabilities etc) and ensuring that specific procedures are followed to produce reports for shareholders and regulatory authorities.
In larger companies, the role of a Financial Accountant is often broken down into its component parts, with many people contributing to overall aims and goals. In smaller companies, a financial accountant will usually have a lot more influence on streamlining and improving the company’s accounting processes.
A Financial Accountant is organised, meticulous, and has a very high attention to detail. The ‘Big 4’ professional service firms are a group of the largest employers of graduate accountants and this is where many financial accountants will start their careers.
Historically, employers tended to require a bachelor's degree or higher in order to enter into their graduate scheme. Hover even the Big 4 have begun to switch their emphasis on academic achievement in recruiting, targeting more school leavers and apprentices.
Whatever their academic background a future Financial Accountant must be prepared to impress with a willingness to learn, a commitment to understanding the finance of business and the motivation to succeed. Teamwork, communication and commercial acumen are skills that employers are looking for.
Once in employment, a Financial Accountant will usually be required to complete a training contract with a recognised training organisation and pass a number of examinations before being admitted as a Chartered Accountant.
Financial Accountant Salary:
A Financial Accountant with up to 3 years post qualified experience can expect to earn £65,000.
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