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A Financial Accountant is responsible for recording and reporting the business operations transactions over a period of time. Financial Accountants work for nonprofits, small businesses, and multinational corporations in any industry. They usually work full-time and can find onsite or remote opportunities.
Financial Accountants often work with various mid- to senior-level staff at their company. They also meet with investors, creditors, and other stakeholders on a semi-regular basis. Financial Accountants prepare financial statements, meet with investors or creditors, prepare reports for tax authorities and regulators, and work with managers.
Financial Accountants should have a firm grasp on accounting and the Generally Accepted Accounting Principles (GAAP). They must know the difference between the accrual and cash bases of accounting and which is better for their company or if a mix of the two is required. Financial Accountants must also understand the five main classifications of financial data including revenues, expenses, assets, liabilities, and equity.
They should know how to execute bookkeeping tasks, manage accounts, prepare financial statements and reports, prepare tax forms, and execute Securities and Exchanges Commission (SEC) reporting. All Financial Accountants must be proficient in Microsoft Excel and/or any accounting or bookkeeping software that their company may use, such as FreshBooks, QuickBooks, or Zoho.
Financial Accountants regularly meet with clients, investors, and creditors. They must have great interpersonal skills for meeting with these important stakeholders and for working with various members of their company’s team. Financial Accountants prepare reports on a regular basis and they should have good written communication skills that are clear and concise. They must be detail-oriented, analytical thinkers who are highly organized. They’ll most likely be working with multiple clients on many different deadlines and need to follow strict project parameters throughout. They should have a deep understanding of ethics and use their critical thinking skills to notice discrepancies and alert their company of them.
Accounting involves processing, measuring, and communicating financial information about businesses. Accounting often uses software like QuickBooks, Excel, and other office communication tools.
Quickbooks is an accounting software developed by intuit. Quickbooks is primarily used by small and medium-sized businesses to pay bills, execute payroll functions, and accept business payments.
Bookkeeping is the act of recording the financial affairs of a business. This includes purchases, sales, receipts, and payments. The most popular bookkeeping tool is Intuit's Quickbooks
A Financial Accountant in the United States makes, on average, $66,572 annually, according to Indeed.com.
Salaries for Financial Accountants vary by region within the the United States. Listed below are some Financial Accountant salaries for specific areas with the United States compared with the average national salary:
Financial Accountants must have a bachelor’s in accounting or finance. Financial Accountants can obtain their Certified Public Accountant (CPA) license which will likely qualify them for a slightly higher pay grade. Certification is not required for this position but may be preferred by some employers.
Financial Accountants can find jobs most efficiently through an accounting or finance specific job board or by contacting a recruiter. They can find work in most industries at companies of any size. There are full-time onsite and remote opportunities for these positions as well as freelance or self-employed models of work.
Financial Accountants can find jobs on these sites:
Financial Accountants can find remote and freelance work on these sites:
Financial Accountants might find the job search competitive but they can try networking to enhance their job search. Networking is important for anyone looking for work and should be done regularly.
Create a list of specific companies of interest to you and seek out jobs on their website, LinkedIn, and job boards. Connect with people who already work there with a genuine conversation starter, such as questions about how they like working there, what the company culture is like, or anything you’re wondering about the organization. This will help you get a better idea of who you’re applying to and get you some name recognition and rapport within the company.
Follow up with everyone you meet, including the person you submitted the application to if you the hiring manager was listed. This comes across as thoughtful and considerate, while also reminding them of your interest in the position.
Financial Accountants are specialized accountants and their job titles will likely only vary based on their place in a larger company’s hierarchy. They can find work at nonprofits, multinational corporations, small businesses, or through an accounting firm. Financial Accountant can look for jobs with these titles:
Financial Accountants, Accountants, and Bookkeepers are similarly responsible for recording and reporting business operations transactions, however, their salaries vary. Bookkeeping would be a starting career, advancing to an Accountant, and then a Financial Accountant, based on pay.
Financial Accountants who have obtained their Certified Public Accountant (CPA) license can seek career growth as a CPA for a slightly higher pay grade. Additionally, obtaining further certifications as a Certified Internal Auditor (CIA) or Certified Management Accountant (CMA) will offer the potential for increased pay and advancement. CPAs make the most out of all Accounting roles
Bookkeepers record and manage financial transactions for businesses of all sizes. Often working as part of an accounting team, they maintain a company's books and produce key financial statements. Some may be responsible for handling payroll and reconciling bank accounts. Bookkeepers are important for the accurate recording of financial transactions, which are then analyzed by accountants and CFOs.Learn about becoming a Bookkeeper
A Certified Public Accountant (CPA) is responsible for maintaining, analyzing, and preparing financial records and accounts for organizations and individuals. They have met strict educational, testing, and on-the-job requirements, and gained certification to do certain tasks that Accountants have not.Learn about becoming a Certified Public Accountant