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Key Responsibilities and Required Skills for Accounting Analyst

💰 $55,000 - $90,000

AccountingFinanceAnalysisAuditingFinancial Reporting

🎯 Role Definition

An Accounting Analyst is responsible for preparing, analyzing, and reconciling financial statements and reports to support accurate financial decision-making. The role involves evaluating financial data, ensuring compliance with accounting standards, assisting with audits, and providing actionable insights to management. Accounting Analysts play a key role in maintaining financial integrity and supporting the organization’s strategic and operational objectives.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Junior Accountant
  • Financial Analyst
  • Accounts Payable/Receivable Clerk

Advancement To:

  • Senior Accounting Analyst
  • Accounting Manager
  • Finance Manager

Lateral Moves:

  • Audit Analyst
  • Financial Planning & Analysis (FP&A) Specialist

Core Responsibilities

Primary Functions

  1. Prepare, review, and analyze monthly, quarterly, and annual financial statements.
  2. Reconcile general ledger accounts and resolve discrepancies.
  3. Assist in month-end and year-end closing processes.
  4. Analyze account activity and identify trends, variances, and anomalies.
  5. Support internal and external audits by providing documentation and account details.
  6. Ensure compliance with GAAP, IFRS, and internal financial policies.
  7. Maintain accurate records of financial transactions, journal entries, and supporting documentation.
  8. Monitor and report on key financial metrics and operational performance.
  9. Assist in budgeting, forecasting, and variance analysis processes.
  10. Review and process complex account reconciliations for accuracy and completeness.
  11. Identify and recommend process improvements to increase efficiency and accuracy.
  12. Collaborate with cross-functional teams to provide financial insights for strategic decision-making.
  13. Monitor accounts payable and receivable activity to ensure timely processing.
  14. Track and report on intercompany transactions and allocations.
  15. Prepare detailed reports for management, highlighting financial performance and risks.
  16. Participate in system upgrades, implementations, and data integrity projects.
  17. Support ad-hoc financial analysis and reporting as requested by leadership.
  18. Conduct variance analysis and provide explanations for significant fluctuations.
  19. Assist in developing and maintaining accounting policies, procedures, and internal controls.
  20. Provide guidance and support to junior accounting staff on complex accounting issues.

Secondary Functions

  • Support ad-hoc data requests and exploratory financial analysis.
  • Contribute to the organization’s finance strategy and roadmap.
  • Collaborate with other departments to ensure accurate financial reporting.
  • Participate in team meetings and process improvement initiatives.

Required Skills & Competencies

Hard Skills (Technical)

  • Proficiency in accounting software (e.g., QuickBooks, SAP, Oracle, NetSuite).
  • Strong knowledge of GAAP and IFRS standards.
  • Experience in financial reporting, account reconciliation, and journal entries.
  • Ability to perform variance analysis and trend identification.
  • Familiarity with budgeting, forecasting, and financial planning processes.
  • Competence in Excel and data analysis tools for reporting and modeling.
  • Experience with internal and external audit support.
  • Knowledge of internal controls and compliance procedures.
  • Skilled in intercompany accounting and allocations.
  • Proficiency in preparing management reports and financial dashboards.

Soft Skills

  • Strong analytical and problem-solving skills.
  • Attention to detail and accuracy in financial data handling.
  • Excellent communication and interpersonal skills.
  • Ability to manage multiple priorities and meet deadlines.
  • Collaborative mindset for cross-functional teamwork.
  • Adaptability to changing accounting regulations and company requirements.
  • Professionalism and discretion with sensitive financial information.
  • Proactive approach to identifying issues and providing solutions.
  • Organizational and time management skills.
  • Initiative to recommend process improvements and efficiencies.

Education & Experience

Educational Background

Minimum Education:

  • Bachelor’s degree in Accounting, Finance, or related field.

Preferred Education:

  • CPA designation or progress toward CPA certification.

Relevant Fields of Study:

  • Accounting
  • Finance
  • Business Administration
  • Economics

Experience Requirements

Typical Experience Range:

  • 2 to 5 years in accounting, auditing, or financial analysis roles.

Preferred:

  • Experience as an Accounting Analyst or similar role in a corporate or public accounting environment.
  • Demonstrated ability to prepare financial statements, reconciliations, and reports.
  • Familiarity with ERP systems and advanced Excel modeling.
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