Introduction
An Account Analyst is a professional who also works to help a corporate firm or any business enterprise move forward. This is obviously in terms of profits and returns on investments. They prepare financial statements for the firm or specific departments, depending on the size and system of the company.
They also engage in budget reviews, report writing, and help clarify any issues relating to finance. Also, their opinion can be sorted on policies, strategies to help reduce cost, and any other finance-related matter. This, however, depends on their display of competency and period of experience in the field.
In addition, Account Analysts can sometimes be Chattered Accountants. These professionals also find relevance in several places: Hospitals, Companies, Banks, Financial Institutions, among others.
Moreover, they also look into financial reports of various departments to determine if they are okay and error-free. Their job description requires a lot of calculation and mathematics. Hence, it is expedient that the staff be competing in computer tools such as Microsoft excellent, SAP, QuickBooks, etc. These will greatly engage accuracy and precision.
Furthermore, these professionals are to be skilled in time management, accuracy, precision, documentation, and computer skills, among others. They are usually Bachelor’s degree holders in Accounting, Banking, Finance, or other related fields.
To find out all you need to know about them, keep following.
Responsibilities of an Account Analyst
The duties of an Account Analyst are among the most important for a company or business. This is because they play core roles in helping to maximize profit; one of the goals of establishing the firm in the first place. Below are some of their routine duties.
- Preparing financial statements at specified periods.
- Evaluating financial reports of various departments in an organization.
- Helping to resolve issues relating to finances.
- Ensuring that financial records are updated adequately.
- Employing computer aids such as Microsoft Excel for more accurate and fast work.
- Teaching and training junior staff and interns.
- Deliver suggestions and advice when called upon for such.
- Submitting and/or presenting financial reports periodically.
- Being able to foresee potential risks and help prevent the company from engaging in such.
- Reconciling accounts at month ends and year ends.
- Employing financial analysis results in helping the company’s decision-making.
- Contributing to meetings with contractors, investors, and other third parties.
- Make price adjustments accordingly for products with new prices.
Qualifications for practice as an Account Analyst
As earlier stated, Account Analysts are one of the most important employees in an organization. This employee must qualify to gain employment or promotion. Anything less than this can put the company in trouble, hence, employers are usually strict at this point. Some of the qualifications necessary to practice in the United States include:
- Firstly, a Bachelor’s degree in Accounting, Banking, Finance, Business, or any related field.
- Secondly, an Associate’s Degree can suffice.
- Thirdly, a Master’s degree can also facilitate employment.
- Also, certifications such as Certified Management Accountant (CMA) and Certified Public Accountant (CPA) are necessary.
- In addition, working experience in the area of Financial Accounting is also necessary.
As a profession and position of influence, certain skills in addition to academic qualifications are also necessary. Some of them are as follows:
- Analytical skills.
- Computer skills.
- Time management skills.
- Documentation skills.
- Interpersonal relations.
- Ability to pay detailed attention to values and figures.
- Mathematical skills.
- Communication skills.
- Presentation skills.
- Passion for the job.
- Teaching skills.
- Research skills.
- Problem-solving skills.
Salary
Account Analysts earn well in most organizations in the United States. Their salary range is usually between $51,000 and $60,000. However, it is way higher in some places.
The exact pay depends on several reasons.
- Firstly, the location of the organization.
- Secondly, the number of hours the staff works.
- Thirdly, the academic qualification of the staff.
- Also, the quality of services rendered.
- It can also depend on how big or small the company is.
Job Opportunities
Account Analysts can work in different places. Some of these include:
- Hospitals
- Financial Institutions
- Banks
- Government Agencies
- Pharmacies
- Corporate firms, among others
They usually work for 36 to 40 hours every week. But they do not work on public holidays or weekends, except if they are working from home.
Conclusion
The position of an Account Analyst, as we have seen, is one that everything an organization requires.
Thanks to the United States Bureau of Labor Statistics, who anticipates consistent growth in this career position, at least for the next 10 years. Hence, if you’re someone skilled in this field, then this may be a career for you to consider.
