Roles and tasks of the financial accountant
The role of a financial accountant is to ensure that all the company's financial transactions are carried out in accordance with accounting and regulatory principles. Financial accountants are responsible for a variety of tasks and duties, including preparing financial statements, analysing financial performance and reviewing financial risks. They are also responsible for financial reporting and forecasting, and for setting up and maintaining financial systems. The main duties and responsibilities of a financial accountant are listed below:
- Preparing financial statements, including the balance sheet, income statement and cash flow statement.
- Preparation of financial forecasts and reports.
- Analysis and review of financial risks.
- Establishing and maintaining financial systems.
- Assisting with financial evaluation and audit processes.
- Tax assurance and compliance.
- Investment and asset management.
- Implementation of risk management strategies.
- Advising companies on financial matters.
- Supervision and management of finance staff.
- Analysis of financial performance and costs.
- Implementing financial consolidation methods.
- Implementing and monitoring financial procedures.
A financial accountant plays a key role in any business, and a sound knowledge of accounting principles and financial procedures is essential if they are to live up to their responsibilities. They work closely with the finance team, business partners and the company's legal and tax departments.
Salary and career development of financial accountants
The salary of a financial accountant varies greatly, depending on years of experience and geographical location. In France, here is an estimate of gross annual salaries based on years of experience for financial accountants:
- 0 to 2 years: between €24,000 and €30,000
- 2 to 5 years: between €32,000 and €38,000
- 5 to 10 years: between €40,000 and €48,000
- 10 to 15 years: between €50,000 and €60,000
- More than 15 years: between 70,000 and 85,000 euros
In terms of career development, a financial accountant could move into one of the following professions:
- Financial director
- Management controller
- Chartered accountant
- Financial manager
- Financial analyst
