Financial reporting analysts' main responsibilities include preparing various financial reports and statements on a monthly or quarterly basis, depending on the company's needs. They also review expenses and budgets, ensuring that the data is correct, and prepare filings made to the Securities and Exchange Commission (SEC), as well as income and balance statements. Financial reporting analysts prepare audits, and depending on the company, they may also required to complete more specific reports depending on what they must submit to stockholders, partners, government agencies, and other relevant individuals and organizations.
Financial reporting analysts work for companies in a variety of fields, from communications to technology to health care. These individuals generally work full time in an office setting; they often work during regular business hours, although overtime may be required depending on the needs of the company.
Most companies require at least a bachelor's degree in accounting or a related field for this position; a master's degree - such as a master's of business administration (MBA) - may be preferred. Most employers also look for at least two to four years of experience in general accounting. Some knowledge of basic software programs such as the Microsoft Office suite is necessary. Additionally, most companies require knowledge of generally accepted accounting principles (GAAP) and SEC accounting policies. Financial reporting analysts should have excellent communication, interpersonal, and multitasking skills. They should work well on their own with minimal supervision, as well as in a team setting.
Financial Reporting Analyst Tasks
- Review filings, press releases, and presentations containing financial data.
- Assist in financial modeling and forecasting.
- Construct and update periodic reports, statements, and financial analyses.
- Coordinate with and provide information to auditors and compliance bodies.