A financial reporting analyst, also referred to as a financial analyst, is a professional who develops and provides internal and external financial reports for an organization. These professionals provide detailed financial records as well as analyze current and future financial trends to assist in improving an organization's financial status and overall stability.
Education and Qualifications
Educational requirements include a bachelor's degree in finance or accounting. Many employers prefer a certified public account (CPA) credential. In most cases, two to four years of relevant financial experience is preferred, as well as public accounting experience. These professionals should be proficient with accounting software and financial reporting applications as well as Microsoft Excel.
These professionals create and maintain a variety of internal financial reports for an organization. Responsibilities can include using financial accounting software packages and databases to develop spending, revenue, receivables, payables and reconciliation reports. This may also involve assisting organizational accounting professionals with monthly, quarterly and yearly closing reports, as well as posting general ledger and journal entries.
A financial reporting analyst works with other financial and accounting professionals to prepare for local, state and federal tax filing, as well as any financial reporting information that will be available to the public and investors. Other external reporting includes preparation of required regulatory or compliance reports on a quarterly or yearly basis.
Along with internal and external reporting, these professionals analyze, evaluate and interpret data concerning an organization's financial stability, as well as current and future financial trends. This includes summarizing data to suggest changes or improve current and long-term organizational growth. This involves measuring economic influences and competitors' financial statistics, as well as performing research and analysis relative to losses or possible adversities related to these trends.
CBSalary.com lists a national average salary of $70,133 per year for these occupations in April 2010. Salary can vary for these occupations based on the cost of living, years of experience and the responsibilities of the job. In most cases, salaries are higher for those employed by larger, publicly traded organizations.
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