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Key Responsibilities and Required Skills for Financial Accountant

💰 $65,000 - $95,000

FinanceAccountingCorporate

🎯 Role Definition

Are you a meticulous and analytical accounting professional looking to make a significant impact? We are searching for a talented Financial Accountant to become a cornerstone of our finance department. In this crucial role, you will be responsible for a wide range of accounting functions, from managing the general ledger to preparing detailed financial reports and ensuring regulatory compliance. The ideal candidate is a proactive problem-solver with a strong grasp of accounting principles, who thrives in a collaborative environment and is eager to contribute to the financial health and accuracy of our organization. You'll be a key player in the month-end close process, financial statement preparation, and in driving process improvements to enhance efficiency and accuracy.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Junior Accountant / Staff Accountant
  • Accounts Payable / Accounts Receivable Specialist
  • Public Accounting Associate

Advancement To:

  • Senior Financial Accountant
  • Accounting Manager
  • Financial Controller

Lateral Moves:

  • Financial Analyst
  • Internal Auditor
  • Treasury Analyst

Core Responsibilities

Primary Functions

  • Execute the full-cycle month-end and year-end closing processes, ensuring all financial transactions are recorded accurately and deadlines are strictly met.
  • Prepare, review, and post complex journal entries with appropriate supporting documentation to accurately reflect the company's business activities.
  • Perform and oversee monthly reconciliations for all balance sheet accounts, including bank accounts, accounts receivable, accounts payable, and fixed assets, promptly investigating and resolving discrepancies.
  • Manage the fixed asset ledger, including recording acquisitions and disposals, and calculating and posting monthly depreciation and amortization.
  • Prepare and analyze the monthly financial reporting package, including the balance sheet, income statement, and statement of cash flows, for management review.
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  • Conduct in-depth variance analysis of financial results, comparing actuals to budget and forecast, and provide insightful commentary on key business drivers.
  • Ensure all accounting practices and financial statements are in strict compliance with U.S. GAAP and/or IFRS standards and company policies.
  • Assist in the preparation of supporting schedules and documentation for annual external audits and quarterly reviews, acting as a key point of contact for auditors.
  • Manage intercompany transactions and reconciliations, ensuring all balances are properly eliminated in consolidation.
  • Analyze and maintain the integrity of the general ledger, ensuring the accuracy and completeness of financial data stored in the ERP system.
  • Support the accounts payable and accounts receivable functions by providing guidance, resolving escalated issues, and ensuring sub-ledgers are reconciled.
  • Prepare and file various tax-related reports, including sales tax, use tax, and property tax returns, ensuring timely and accurate compliance.
  • Assist in the development and implementation of new accounting policies, procedures, and internal controls to improve efficiency and mitigate risk.
  • Participate in the annual budgeting and forecasting process by providing historical data and analytical support to the financial planning team.
  • Administer and process employee expense reports, ensuring compliance with corporate travel and expense policies.
  • Track and analyze capital expenditure projects, comparing actual spending to the approved budget and reporting on project status.
  • Monitor and interpret new accounting pronouncements to assess their impact on the company and recommend appropriate implementation strategies.
  • Generate ad-hoc financial reports and analyses as requested by senior management to support strategic decision-making.
  • Collaborate with cross-functional teams, including operations, sales, and HR, to ensure the accurate and timely flow of financial information.
  • Support the implementation and optimization of financial systems and software, participating in testing and user training.

Secondary Functions

  • Assist with special projects and financial analyses as assigned by the Accounting Manager or Financial Controller.
  • Contribute to the continuous improvement of accounting processes and systems by identifying inefficiencies and recommending solutions.
  • Provide support and mentorship to junior accounting staff and new team members.
  • Participate in the documentation and testing of internal controls to ensure Sarbanes-Oxley (SOX) compliance, where applicable.

Required Skills & Competencies

Hard Skills (Technical)

  • GAAP / IFRS: Deep understanding of Generally Accepted Accounting Principles (GAAP) and/or International Financial Reporting Standards (IFRS).
  • Financial Reporting: Proficiency in preparing complete and accurate financial statements (Balance Sheet, Income Statement, Cash Flow).
  • Month-End Close: Proven ability to manage the entire month-end close cycle efficiently and under tight deadlines.
  • General Ledger Management: Expertise in maintaining and reconciling a complex general ledger.
  • Account Reconciliation: Strong skills in performing detailed balance sheet and bank account reconciliations.
  • ERP Systems: Hands-on experience with large-scale ERP systems such as SAP, Oracle, NetSuite, or Microsoft Dynamics.
  • Advanced Microsoft Excel: Mastery of Excel, including VLOOKUPs, pivot tables, sum-ifs, and complex formula creation for data analysis.
  • Variance Analysis: Ability to analyze financial data and explain fluctuations between actuals, budget, and prior periods.
  • Internal Controls (SOX): Knowledge of internal control frameworks and Sarbanes-Oxley compliance requirements.
  • Tax Compliance: Familiarity with preparing and filing non-income tax returns, such as sales & use tax or property tax.

Soft Skills

  • Attention to Detail: Meticulous and precise in all aspects of work, ensuring accuracy in financial data and reporting.
  • Analytical & Problem-Solving: Excellent ability to identify, analyze, and resolve complex accounting issues.
  • Time Management & Organization: Strong organizational skills with the ability to prioritize multiple tasks and meet competing deadlines.
  • Communication Skills: Clear and concise written and verbal communication skills, with the ability to explain financial concepts to non-financial colleagues.
  • Integrity & Ethics: A commitment to the highest standards of ethics and professional integrity.
  • Adaptability: Ability to thrive in a fast-paced and evolving business environment.
  • Teamwork & Collaboration: A proactive and collaborative mindset, willing to work effectively with team members and other departments.

Education & Experience

Educational Background

Minimum Education:

  • Bachelor's Degree in a relevant field.

Preferred Education:

  • Master's Degree in Accounting or Finance
  • CPA (Certified Public Accountant) certification or active CPA candidate status is highly preferred.

Relevant Fields of Study:

  • Accounting
  • Finance

Experience Requirements

Typical Experience Range:

  • 2-5 years of progressive experience in an accounting role.

Preferred:

  • A combination of experience in both public accounting (Big 4 or regional firm) and a corporate industry accounting environment is highly desirable.
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