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A Handyman’s toolbox is full of useful stuff, including tools for pounding, cutting, measuring, binding and prying oneself out of sticky situations. Because Financial Reporting Analysts are similarly equipped with practical problem-solving tools, they’re kind of like financial Handymen for companies and corporations.
No, you don’t get to use hammers, saws and screwdrivers when you’re a Financial Reporting Analyst. You do, however, get to fix things — namely, financial discrepancies, errors and calculations.
Indeed, it’s your job as a Financial Reporting Analyst to compile and document your company’s financial data, then analyze it in order to assess its well-being. Doing that requires a lot of tinkering — not under the kitchen sink, but rather in your company’s books. To do your tinkering, you’ll work with Accountants and Bookkeepers to analyze income and expenditures, record transactions on the general ledger, reconcile accounts, produce and file regulatory documents, and generate the data that’s used in SEC filings and annual reports.
The monthly, quarterly and annual reports you produce will help the company create budgets for internal departments, conduct audits on behalf of external regulators and issue stocks to shareholders. The analysis you do, meanwhile, will help the company assess its financial stability, identify current and future trends, and develop financial plans with which to assist its strategic growth.
Although you’ll typically use accounting software to complete your reports, the computer won’t do your job for you. You’ll therefore need a firm grasp of finance and accounting fundamentals, as well as superior communication skills that will help you organize, summarize and present complex financial information.