Role of Financial Accountant
A financial accountant is responsible for recording and reporting of the external transactions of an organisation.
They also contribute during decision making regarding strategy.
Accountants extract and interpret information from the financial records for a wide range of interested parties throughout that organisation - shareholders, potential investors, bankers, employees, trade creditors and government departments.
The Financial Accountant is responsible for controlling the working capital of a business, ensuring debtors, creditors and stocks are maintained at an acceptable level, taking the day to day decisions, giving advice to the Board of Directors (very often the Financial Accountant is a Director of he company) and advising on capital investment.
The Financial Accountant is also responsible for the preparation of: Final Accounts (Profit and Loss and Balance Sheet); Reports (based on differences between actual and budgeted performance); Interpretation of financial information - for example advising on trends.