Profession accounting analyst
Accounting analysts evaluate the financial statements of clients, usually companies, which include the income sheet, the balance sheet, the statement of cash flows and additional notes to other financial statements. They interpret and implement new accounting systems and accounting procedures and will analyse and determine if the proposed systems conform to accounting regulations and meet user information requirements.
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Personality Type
- Conventional / Enterprising
Knowledge
- Financial department processes
The different processes, duties, jargon, role in an organisation, and other specificities of the financial department within an organisation. Understanding of financial statements, investments, disclosing policies, etc.
- Accounting techniques
The techniques of recording and summarising business and financial transactions and analysing, verifying, and reporting the results.
- Accounting entries
The financial transactions recorded in accounting systems or books of a company together with the metadata linked to the entry such as the date, the amount, the accounts affected, and a description of the transaction.
- Financial statements
The set of financial records disclosing the financial position of a company at the end of a set period or of the accounting year. The financial statements consisting of five parts which are the statement of financial position, the statement of comprehensive income, the statement of changes in equity (SOCE), the statement of cash flows and notes.
- International financial reporting standards
The set of accounting standards and rules aimed at companies listed in the stock exchange which are required to publish and disclose their financial statements. Standard that facilitates comparability and understandability across countries.
- Accounting department processes
The different processes, duties, jargon, role in an organisation, and other specificities of the accounting department within an organisation such as bookkeeping, invoices, recording, and taxing.
- National generally accepted accounting principles
The accounting standard accepted in a region or country specifying the rules and procedures to disclose financial data.
Skills
- Analyse business processes
Study the contribution of the work processes to the business goals and monitor their efficiency and productivity.
- Create a financial report
Finalise project accounting. Prepare an actual budget, compare the discrepancy between the planned and actual budget, and draw final conclusions.
- Analyse financial risk
Identify and analyse risks that could impact an organisation or individual financially, such as credit and market risks, and propose solutions to cover against those risks.
- Monitor financial accounts
Handle financial administration of your department, keep the costs down to only necessary expenses and maximise the revenues of your organisation.
- Supervise accounting operations
Coordinate, commission, and monitor operations in accounting departments in order to ensure the accurate record and eventual reporting of the financial operations of the company.
- Explain accounting records
Provide additional explanation and disclosure to staff, vendors, auditors, and to any other instance about the way accounts were recorded and treated in the financial records.
- Analyse financial performance of a company
Based on accounts, records, financial statements and external information of the market, analyse the performance of the company in financial matters in order to identify improvement actions that could increase profit.
- Check accounting records
Revise the accounting records of the quarter and year and ensure that the accounting information reflects with accuracy the financial transactions of the company.
- Draft accounting procedures
Lay down standard methods and guidelines to regulate bookkeeping and accounting operations, including determining the bookkeeping system used to record financial transactions.
- Interpret financial statements
Read, understand, and interpret the key lines and indicators in financial statements. Extract the most important information from financial statements depending on the needs and integrate this information in the development of the department's plans.