How to Become a Financial Reporting Accountant
Step 1: Understand the job description and responsibilities of a Financial Reporting Accountant
What does a Financial Reporting Accountant do?
A Financial Reporting Accountant prepares periodic financial statements required for external reporting. Collects and analyzes financial data, ensuring that all reporting is in compliance with SEC and GAAP reporting guidelines. Being a Financial Reporting Accountant consolidates entries and accounts to be utilized in financial statements. Prepares internal reports as required. Additionally, Financial Reporting Accountant researches accounting rules and regulations and makes recommendations regarding company policy. May provide support and assistance to external auditors. Requires a bachelor's degree of Accounting or Finance. Typically reports to a supervisor or manager. The Financial Reporting Accountant gains exposure to some of the complex tasks within the job function. Occasionally directed in several aspects of the work. To be a Financial Reporting Accountant typically requires 2 to 4 years of related experience.
They also analyze and collect financial data and check the entire reporting to make sure that it complies with the guidelines set by GAAP and SEC.
Financial reporting accountant guide auditors when they need essential things.
This position will have responsibility to assist the Chief Financial Controller in achieving all reporting objectives and to assist with the preparation of the annual budget and other long-term financial planning.
Develop regular financial statements, prepare special projects and perform analysis for senior management.
Manage schedule for all filing deadlines and assist to close all procedures and ensure compliance to procedural and reporting standards.
Step 2: Learn best tips to become a Financial Reporting Accountant
Best tips for those who want to become a Financial Reporting Accountant
Here are some tips to become a Financial Reporting Accountant.
Assist in the consolidation and reporting of Projections/Budgets.
Assisting in all Exec Presentations for monthly and quarterly meetings.
Assist in updating the current Hyperion structure/models for changes to the business structure.
Step 3: View best colleges and universities for Financial Reporting Accountant
Best colleges and universities for Financial Reporting Accountant
- Florida Southern College
- Colby College
- Dartmouth College
- University of Notre Dame
- Western Washington University
- Canisius College
Step 4: Think about whether is it worth to be a Financial Reporting Accountant
Is being a Financial Reporting Accountant Worth it?
As a Senior Accountant you will be working within the Controlling, Reporting & Financial Statements team to support management with external financial statement preparation, as well as the reporting and consolidation of the companies within the US.
Likewise, this role will provide corporate level accounting policy governance that supports consistent accounting practices among Siemens US Operating Companies as well as oversight and monitoring of the closing, consolidation and financial reporting processes.
Accountant Financial Reporting will be responsible for general ledger and preparation for reporting of financial statements, ensure the integrity of accounting information by researching account issues for compliance and by establishing quality control over financial transactions and financial reporting.
Minimum of 5 years’ experience in Finance and Financial Reporting Roles (including a minimum of 2 years post qualification experience).
The Financial Reporting Accountant will support the Financial Reporting team in delivering the full year Annual Report as well as the monthly accounts whilst providing technical accounting support to the finance community.
Step 5: Prepare relevant skills for being a Financial Reporting Accountant
What skills do you need to be a Financial Reporting Accountant?
In order to succeed at this level, when working with both management positions and positions more junior, a variety of skills are required. A strong grasp of the following skills is needed to perform this role: Capital Budgeting, Month-End Close, Quarter-End Close, Regulatory Reporting, Year-End Close, GAAP Standards. You would need to be proficient in the following: Accounting Software, Financial Analysis Software. Although there may be many skills for success in this role, some companies may be willing to provide on the job training if you excel in other areas.
A great deal of experience in public accounting and preparing financial statements.
Minimum 5 years’ accountant experience required, including the ability to work with complex financial models, financial statements, and confidential information….
10+ years' of accounting and reporting experience required.
· 4+ years of experience working in Financial Accounting or Auditing.
· Working knowledge of International Financial Reporting Standards (IFRS) a plus.
Step 6: View average salary for Financial Reporting Accountant
How much does a Financial Reporting Accountant make?
The average salary range for a Financial Reporting Accountant is from $74,093 to $93,043. The salary will change depending on your location, job level, experience, education, and skills.
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Average salary for Financial Reporting Accountant jobs
- Financial Reporting Accountant IV
- Financial Reporting Accountant I
- Financial Reporting Accountant II
- Financial Reporting Accountant III
- Entry Financial Reporting Accountant
- Intermediate Financial Reporting Accountant
- Senior Financial Reporting Accountant
- Financial Statements and Reporting Accountant I
Step 7: Find relevant Financial Reporting Accountant jobs, and apply.
Looking for Financial Reporting Accountant jobs?
Here are some Financial Reporting Accountant jobs in the United States.