Job Description for Financial Accounting Analysis
Financial accounting analysts perform professional accounting duties related to payroll, property tax or financial accounting. They oversee the creation, development and execution of standards, procedures and financial systems. They strive for accuracy and fulfillment of established policies and laws. Because of the highly complex nature of these tasks, financial accounting analysts require specific training, work experience and skills to function effectively as part of an accounting team.
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Training
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Candidates should possess at least three years of professional experience in accounting or financial operations, with at least one year dedicated to implementing financial agreements and monitoring their consequences. Candidates lacking these three years of professional experience may substitute it with an equivalent combination of education, training and work experience as long as they demonstrate the required knowledge, comprehension and skill level necessary to function in such a complex position.
Required Knowledge
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Candidates must know the how the generally accepted accounting policies and procedures are developed and applied. They should also know and understand legislative and contract terminology so they can supervises contract negotiations. Since this position requires the frequent use of automated systems for fiscal reporting and accounting, applicants must know how these systems are implemented through computer technology.
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Responsibilities
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In addition to supervising payroll, property tax and financial accounting operations, analysts also examine the organizational structure of the department. They analyze established policies and procedures, using computer technology to guide work flow, and enforce adherence to accepted principles of accounting. Analysts research within their own area of assignment, identifying and resolving complex accounting errors. They also supervise the work of others by evaluating the work of professional accountants, technical and clerical staff in other departments. Accordingly, analysts must know and understand the essentials of payroll, property tax, general ledgers, accounts payable and specific accounting areas such as revenue and expenditure accounting. By handling discrepancies among reports, analysts ensure accurate accounting and fulfillment of regulations and laws.
Skills
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Analysts must know how to multitask, prioritize and delegate responsibilities to other members of the accounting team. They should be capable of utilizing time-saving strategies and exercising sound judgment when encountering sensitive situations. In dealing with employees from other departments, analysts should be able to establish and maintain positive working relationships based on cooperation, whether dealing with subordinates or executives. They should know how to analyze complex data, discover logical conclusions and suggest strategies for improvement. Written and oral communication skills are also essential considering the amount of reporting required.
Salary
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Financial accounting analysts working in the U.S. earned an average salary between $45,077 and $64,617 as of 2010, according to PayScale.com.
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References
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