A Financial Accountant is a qualified technical accountant, often responsible for the preparation of weekly and monthly financial reports and other key financial functions. The Financial Accountant may also be responsible for and involved with the preparation and submission of statutory reports.
Financial accountants supervise and carry out the financial management and accounting requirements for a business or organisation. Financial accountants also provide advice to aid strategic decision making and may also be involved in the general administration of a business.
Financial accountants extract financial data and provide commentary on this information for interested parties within a business or organisation. They work in both the private and public sectors and are always in demand by financial recruiters.
In a recent vacancy advertised on this site, the duties required of a financial accountant were:
Producing consolidated monthly management accounts (Profit and Loss, Balance Sheet and Cash Flow).
Balance sheet reconciliations.
Legal and statutory compliance and reporting.
Stock reporting; debtor reports; creditor reporting; and cash forecasts.
Reporting on trends, targets, forecasts and budgets.
Treasury liaison and Forex tracking.
Major contract commitment monitoring, inflation monitoring and forecast cost prices validation.
Qualifications
Financial accountants have their own professional body, the Institute of Financial Accountants, which sets ethical and technical standards for members and offers the Incorporated Financial Accountant (IFA) qualification along with continuous professional development. Members of other accounting bodies also work as financial accountants.
Salary Snapshot
Recent salaries advertised on TopFinancialJobs (October 2009) include:
£50-60,000 per annum for a Senior Financial Accountant working for a leading general insurance company working in London.
£35,000 for a Financial Accountant working in East Riding for a niche FMCG business.
£26-30 per hour for a temporary Financial Accountant working for a major energy supplier in London.
£38-45,000 for a Financial Accountant working for a multinational blue chip organisation in Hertfordshire.
£60-61,000 for a Senior Financial Accountant working in London for a property asset management company.
Are you a financial accountant? Would you like to contribute to our "Day in the Life of..." series? Email us at info@topfinancialjobs.co.uk for more details.
