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What does a finance analyst/accountant do?

Updated January 8, 2025
8 min read
Quoted expert
Terri Walsh
What does a finance analyst/accountant do

In a company setting, a finance analyst/accountant is in charge of handling and monitoring financial activities, ensuring efficiency and accuracy. Their responsibilities revolve around preparing financial reports, performing audits and risk assessments, and identifying any errors and inconsistencies, resolving them promptly and efficiently. They also conduct research and analysis to identify new business opportunities, evaluate the existing procedures to determine its strengths and weaknesses, and recommend solutions to optimize operations for financial growth. Furthermore, as a finance analyst/accountant, it is essential to uphold the company's policies and regulations, including its vision and mission.

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Finance analyst/accountant responsibilities

Here are examples of responsibilities from real finance analyst/accountant resumes:

  • Manage the full cycle finance duties including A/P, A/R, G/L and fixed-asset accounting in accordance with GAAP standards.
  • Manage all monthly accruals for outsides consultant/service providers.
  • Develop transfer prices and manage manufacturing inventory in an ERP system.
  • Utilize accounting principles to manage quarterly regulatory settlement accruals and reporting requirements.
  • Develop, maintain financial models/applications (VBA Excel/Access) to automate and streamline business processes and perform financial analysis.
  • Implement process improvement initiatives for the payroll cash account that facilitate early recognition of unrecord payroll expenses.
  • Perform diverse accounting functions, including preparing and reviewing general ledger entries, account reconciliations and standalone financial statements.
  • Implement the treasury department function from MeadWestvaco to NewPage upon sale of the division.
  • Ensure no SOX material weakness or significant deficiency regarding the control associate with the BS reviews and closing process.
  • Supervise ERP system cost module implementation.
  • Maintain procedural documentation for Sarbanes-Oxley compliance initiatives and assist in monthly forecasts.
  • Generate and enter monthly payroll entries and analyze and enter monthly accrue expenses.
  • Assist in preparing audit request reports and compiling necessary documentation to support SOX requirements
  • Design and document internal control procedures for testing in accordance to Sarbanes-Oxley requirements.
  • Evaluate and report international financial statements to coincide with GAAP principles and the collaboration of the consolidation reporting.

Finance analyst/accountant skills and personality traits

We calculated that 9% of Finance Analyst/Accountants are proficient in Reconciliations, Financial Analysis, and General Ledger Accounts. They’re also known for soft skills such as Computer skills, Analytical skills, and Communication skills.

We break down the percentage of Finance Analyst/Accountants that have these skills listed on their resume here:

  • Reconciliations, 9%

    Performed all accounting for equipment wholesale company including preparation of financial statements, monthly account analysis, and general ledger reconciliations.

  • Financial Analysis, 8%

    Directed and performed financial analysis and reporting activities that supported short-term and long-range strategic plans and operating budgets.

  • General Ledger Accounts, 4%

    Prepared/uploaded Cost Transfer and Journal Entries into the PeopleSoft Financial System; reconciled general ledger accounts for federal financial reports.

  • Payroll, 4%

    Implemented process improvement initiatives for the payroll cash account that facilitated early recognition of unrecorded payroll expenses.

  • External Auditors, 4%

    Worked directly with internal and external auditors during tests of controls and substantive testing, promptly providing any information requested.

  • GAAP, 4%

    Evaluated and reported international financial statements to coincide with GAAP principles and the collaboration of the consolidation reporting.

Most finance analyst/accountants use their skills in "reconciliations," "financial analysis," and "general ledger accounts" to do their jobs. You can find more detail on essential finance analyst/accountant responsibilities here:

Communication skills. This is an important skill for finance analyst/accountants to perform their duties. For an example of how finance analyst/accountant responsibilities depend on this skill, consider that "accountants and auditors must be able to listen to and discuss facts and concerns from clients, managers, and other stakeholders." This excerpt from a resume also shows how vital it is to everyday roles and responsibilities of a finance analyst/accountant: "calculated payroll and sales taxes - weekly, monthly, quarterly and yearly per telecommunication and hospitality corporations. ".

Detail oriented. For certain finance analyst/accountant responsibilities to be completed, the job requires competence in "detail oriented." The day-to-day duties of a finance analyst/accountant rely on this skill, as "accountants and auditors must pay attention to detail when compiling and examining documents." For example, this snippet was taken directly from a resume about how this skill applies to what finance analyst/accountants do: "created and provided detailed reports pertaining to inventory management, sales performance, and daily bank reconciliations. "

Math skills. Another common skill required for finance analyst/accountant responsibilities is "math skills." This skill comes up in the duties of finance analyst/accountants all the time, as "accountants and auditors must be able to analyze, compare, and interpret facts and figures." An excerpt from a real finance analyst/accountant resume shows how this skill is central to what a finance analyst/accountant does: "prepared monthly fund statistics and conducted financial analysis. "

Organizational skills. While "organizational skills" is last on this skills list, don't underestimate its importance to finance analyst/accountant responsibilities. Much of what a finance analyst/accountant does relies on this skill, seeing as "strong organizational skills are important for accountants and auditors, who often work with a range of financial documents for a variety of clients." Here is a resume example of how this skill is used in the everyday duties of finance analyst/accountants: "work with other members of financial management division or other work units on joint projects to ensure divisional and organizational success. "

All finance analyst/accountant skills

Choose from 10+ customizable finance analyst/accountant resume templates

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Finance Analyst/Accountant Resume
Finance Analyst/Accountant Resume
Finance Analyst/Accountant Resume
Finance Analyst/Accountant Resume
Finance Analyst/Accountant Resume
Finance Analyst/Accountant Resume
Finance Analyst/Accountant Resume
Finance Analyst/Accountant Resume
Finance Analyst/Accountant Resume
Finance Analyst/Accountant Resume
Finance Analyst/Accountant Resume
Finance Analyst/Accountant Resume
Finance Analyst/Accountant Resume
Finance Analyst/Accountant Resume
Finance Analyst/Accountant Resume
Finance Analyst/Accountant Resume

Compare different finance analyst/accountants

Finance analyst/accountant vs. Treasury analyst

A treasury analyst is an individual who manages and analyses the financial activities of an organization that can include cash flows, liability obligations, and assets. Treasury analysts are required to execute the daily cash management of the organization such as cash forecasting, investing of excess cash, and running a hedging program in interest rates. They must present monthly reports and daily briefings on cash flows to senior management and provide advice on the financial operations of the movement of cash. Treasury analysts also update treasury policies and procedures for the organization to comply.

We looked at the average finance analyst/accountant salary and compared it with the wages of a treasury analyst. Generally speaking, treasury analysts are paid $9,692 higher than finance analyst/accountants per year.Even though finance analyst/accountants and treasury analysts are distinct careers, a few of the skills required for both jobs are similar. For example, both careers require reconciliations, financial analysis, and general ledger accounts in the day-to-day roles and responsibilities.

These skill sets are where the common ground ends though. The responsibilities of a finance analyst/accountant are more likely to require skills like "payroll," "balance sheet accounts," "cpa," and "financial data." On the other hand, a job as a treasury analyst requires skills like "treasury," "cash management," "treasury operations," and "financial statements." As you can see, what employees do in each career varies considerably.

Treasury analysts really shine in the automotive industry with an average salary of $87,077. Comparatively, finance analyst/accountants tend to make the most money in the finance industry with an average salary of $78,897.On average, treasury analysts reach similar levels of education than finance analyst/accountants. Treasury analysts are 0.4% more likely to earn a Master's Degree and 0.4% more likely to graduate with a Doctoral Degree.

Finance analyst/accountant vs. Account analyst

Account analysts are responsible for analyzing account statements and financial transactions of an organization, resolving billing discrepancies, and managing account receivables. They assess the company's financial stability and identify opportunities to improve data analysis techniques by adhering to accounting principles and the company's operational protocols. Account analysts prepare financial reports, evaluate accounts payable, assist in tax audits, and release invoices. They should have excellent analytical and communication skills, especially on posting accurate account reports on the database.

Account analyst positions earn lower pay than finance analyst/accountant roles. They earn a $7,146 lower salary than finance analyst/accountants per year.Only some things about these jobs are the same. Take their skills, for example. Finance analyst/accountants and account analysts both require similar skills like "reconciliations," "financial analysis," and "general ledger accounts" to carry out their responsibilities.

In addition to the difference in salary, there are some other key differences worth noting. For example, finance analyst/accountant responsibilities are more likely to require skills like "balance sheet accounts," "cpa," "accruals," and "strong analytical." Meanwhile, an account analyst has duties that require skills in areas such as "customer service," "patients," "financial statements," and "powerpoint." These differences highlight just how different the day-to-day in each role looks.

Account analysts earn a lower average salary than finance analyst/accountants. But account analysts earn the highest pay in the finance industry, with an average salary of $71,221. Additionally, finance analyst/accountants earn the highest salaries in the finance with average pay of $78,897 annually.In general, account analysts achieve lower levels of education than finance analyst/accountants. They're 5.7% less likely to obtain a Master's Degree while being 0.4% more likely to earn a Doctoral Degree.

What technology do you think will become more important and prevalent for finance analyst/accountants in the next 3-5 years?

Terri WalshTerri Walsh LinkedIn profile

Professor/Program Manager, Accounting, Seminole State College of Florida

I think EXCEL is a must for all business graduates, especially for accounting graduates, but often they have not been exposed to much of it in their degree. Besides, with technology continually changing, a dual major in accounting and information technology will be sought after, so I recommend a bachelor's degree accounting major NOT pursue an MBA, but an information technology degree or programming data. The rise of Big Data and issues surrounding cybersecurity risks will require the accounting profession, and accounting roles, to rely more on students with strong computer skills and logic/analytical thinking. As mentioned before, they will need to master EXCEL, as spreadsheets are widely used in accounting and are the foundation for more advanced software. We are already seeing TABLEAU being used in accounting books, even in the foundational courses which have EXCEL already. There is powerful interrogation software, such as IDEA and ACL, which can pull data from multiple sources; and knowing these tools or their capabilities will be required in the future. Also, strong technological skills need to be communicated once data is retrieved, and this will require persuasive writing and verbal skills.

Finance analyst/accountant vs. Finance officer

A finance officer is responsible for monitoring the financial department and the transactions of an organization. Finance officers analyze financial reports, update account statements, and oversee the budget allocation for business operations. They also resolve billing discrepancies and banking issues, assist in cash statement release, and manage payroll disputes. A finance officer conducts data and statistical analysis to evaluate the company's financial performance and stability and identifying opportunities to increase revenues and grow more profits.

On average scale, finance officers bring in higher salaries than finance analyst/accountants. In fact, they earn a $5,847 higher salary per year.Using the responsibilities included on finance analyst/accountants and finance officers resumes, we found that both professions have similar skill requirements, such as "financial analysis," "general ledger accounts," and "external auditors.rdquo;

There are many key differences between these two careers, including some of the skills required to perform responsibilities within each role. For example, a finance analyst/accountant is likely to be skilled in "reconciliations," "payroll," "account reconciliations," and "balance sheet accounts," while a typical finance officer is skilled in "real estate," "origination," "financial procedures," and "financial management."

Finance officers typically earn similar educational levels compared to finance analyst/accountants. Specifically, they're 1.7% more likely to graduate with a Master's Degree, and 0.5% more likely to earn a Doctoral Degree.

Finance analyst/accountant vs. Accounting analyst

An accounting analyst is responsible for supporting the accounting operations of an organization, analyzing financial transactions and financial statements, and resolving account discrepancies. Accounting analysts interpret financial data by consolidating account transactions, performing account reconciliation, and managing account receivables. They also assist in preparing and releasing invoices, issuing billing statements, and creating comprehensive financial reports on the company's budget and expenses. An accounting analyst must have excellent knowledge of the accounting principles and disciplines, as well as extensive analytical and communication skills to perform duties and meet deadlines under minimal supervision.

Accounting analysts tend to earn a lower pay than finance analyst/accountants by an average of $4,576 per year.While both finance analyst/accountants and accounting analysts complete day-to-day tasks using similar skills like reconciliations, financial analysis, and general ledger accounts, the two careers vary in some skills.

Even though a few skill sets overlap between finance analyst/accountants and accounting analysts, there are some differences that are important to note. For one, a finance analyst/accountant might have more use for skills like "cpa," "income statement," "financial models," and "data analysis." Meanwhile, some responsibilities of accounting analysts require skills like "customer service," "work ethic," "excellent interpersonal," and "hyperion. "

The finance industry tends to pay the highest salaries for accounting analysts, with average annual pay of $66,550. Comparatively, the highest finance analyst/accountant annual salary comes from the finance industry.accounting analysts reach similar levels of education compared to finance analyst/accountants, in general. The difference is that they're 3.2% more likely to earn a Master's Degree, and 0.1% more likely to graduate with a Doctoral Degree.

Types of finance analyst/accountant

Updated January 8, 2025

Zippia Research Team
Zippia Team

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

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