The summer could be the perfect time to reflect on your job and the trajectory of your career. Or maybe you’ve recently completed your finance or accounting degree and need to figure out, “What’s next?”
Perhaps a career as a financial reporting accountant is right for you. Why are these professionals some of the most in demand right now? They prevent financial reporting fraud and stay out of trouble when handling the most complicated accounting issues. And this is top-of-mind these days among C-suite executives, according to Randstad employment experts.
Role and responsibilities.
Financial reporting accountants work specifically with a company's financial statements and are needed by private and public accounting firms, as well as government agencies. These professionals work with a company's financial records to ensure that they're properly maintained and classified. They may also be responsible for tax reporting, inventory processing and program administration.
Financial reporting accountants research accounting rules and regulations and make recommendations regarding company policy. They are responsible for the public reporting of a company or organization’s financial status. This work involves collecting and maintaining data, detecting trends and forecasting future needs. In addition, financial accountants prepare detailed statements and communicate financial information to company leaders and audiences that do not have an extensive accounting background.
Necessary skill sets.
To be a successful financial reporting accountant, individuals must be extremely organized and analytical. Since these individuals often oversee proper maintenance and reporting of a company's financial statements, financial accounting typically requires a bachelor's degree in finance and accounting, and often requires earning a certified public accountant (CPA) to increase job prospects or advance a career. Candidates should be extremely knowledgeable about U.S. Securities and Exchange Commission (SEC) and generally accepted accounting principles (GAAP).
“I find employers always look for public accounting experience for this role. A CPA is a must. [Companies demand] excellent tenure and of course SEC and GAAP.”
-Ivonne Simon, executive search director for Tatum
Excellent financial reporting accountants are deadline-oriented and have strong business acumen. Employers like candidates that take a certain degree of creativity and latitude. Skill with multiple types of financial reports is also required, including the ability to create accurate balance sheets, profit and loss statements and cash flow forecasts.
Positive job outlook.
Another reason to set your sights on a career as a financial reporting accountant is the prospect for growth. Overall, accountants and auditors are expected to see 11 percent job growth through 2024, according to the U.S. Bureau of Labor Statistics (BLS).
If you’re analytical and like digging into financial statements, consider an in-demand career as a financial reporting accountant today.
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