Financial accountants control the financial management systems of a business.

What financial accountants do

• extract and interpret information from financial records
• advise on strategic direction
• advise managers on daily financial decisions of a company
• advise the board of directors
• control working capital of a business, ensuring debtors, creditors and stocks are maintained.

Key skills

• inquiring, analytical mind
• ability to work logically, consistently and accurately
• numeracy
• good working knowledge of accounting information, while keeping up to date with changing financial rules and regulations
• ability to discuss financial issues with both fellow professionals and those with little or no financial background
• self-motivation
• time-management skills
• strong interpersonal skills
• good management skills.

Training to be a financial accountant

Training is available by self-study, distance learning, courses at colleges of further and higher education and private training providers.

Salaries

Salaries for financial accountants tend to vary greatly. The size of a company and its location affects salaries at all levels. A graduate trainee might earn £12,000 to £20,000, rising to £20,000 to £35,000 on qualifying. Thereafter, salary level varies according to seniority and merit.

Professional bodies

• Institute of Financial Accountants

Related jobs

• Actuary
• Chartered accountant
• Chartered certified accountant
• Management accountant
• Public finance accountant
• Tax adviser