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The differences between finance reporting accountants and fund accountants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a finance reporting accountant and a fund accountant. Additionally, a finance reporting accountant has an average salary of $67,545, which is higher than the $60,203 average annual salary of a fund accountant.
The top three skills for a finance reporting accountant include GAAP, reconciliations and external auditors. The most important skills for a fund accountant are reconciliations, calculation, and securities.
| Finance Reporting Accountant | Fund Accountant | |
| Yearly salary | $67,545 | $60,203 |
| Hourly rate | $32.47 | $28.94 |
| Growth rate | 6% | 6% |
| Number of jobs | 112,234 | 35,702 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 79% | Bachelor's Degree, 84% |
| Average age | 44 | 44 |
| Years of experience | 4 | 4 |
A finance reporting accountant is responsible for monitoring the efficiency and accuracy of the company's financial reporting procedures. Finance reporting accountants analyze the financial statements of the company, including its expenses, balance sheets, revenues, cash flow, and other related financial information and discuss it to the management. They also provide strategic recommendations to minimize loss through cost-reduction operational processes and identifying business opportunities to increase profits. A finance reporting accountant should have excellent knowledge of the accounting principles and disciplines, evaluating financial forecasts and resolving account discrepancies.
A fund accountant provides accounting for an investment portfolio. The investments needed include commodities, securities, and/or real estate in an investment fund like a hedge fund or mutual fund. The role of fund accountants includes activity capturing and recording. Fund accountants prepare accurate and timely values, distributions, yields, and fund accounting output for review. They manage activities associated with fund accounting and domestic equity transactions. Also, they work alongside supervisors when it comes to budget development.
Finance reporting accountants and fund accountants have different pay scales, as shown below.
| Finance Reporting Accountant | Fund Accountant | |
| Average salary | $67,545 | $60,203 |
| Salary range | Between $50,000 And $90,000 | Between $44,000 And $80,000 |
| Highest paying City | Washington, DC | New York, NY |
| Highest paying state | Massachusetts | New York |
| Best paying company | Western Alliance Bank | Warburg Pincus |
| Best paying industry | Retail | Finance |
There are a few differences between a finance reporting accountant and a fund accountant in terms of educational background:
| Finance Reporting Accountant | Fund Accountant | |
| Most common degree | Bachelor's Degree, 79% | Bachelor's Degree, 84% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance reporting accountants' and fund accountants' demographics:
| Finance Reporting Accountant | Fund Accountant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 45.3% Female, 54.7% | Male, 61.5% Female, 38.5% |
| Race ratio | Black or African American, 8.4% Unknown, 4.0% Hispanic or Latino, 10.8% Asian, 15.6% White, 60.8% American Indian and Alaska Native, 0.5% | Black or African American, 7.6% Unknown, 3.9% Hispanic or Latino, 9.9% Asian, 18.4% White, 59.7% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 7% | 7% |