financialtreat – will explain about Skills to Prepare to Become Financial Reporting Analyst that you will get in the following article. let’s see this article carefully!
In a company, a financial reporting analyst tasked with analyzing the company’s financial situation based on the reports that have been obtained. In addition to positions in the field of public relations, financial reporting analysts are also responsible for the company’s image.
The difference is, this job maintains the good name of the company through the level of accuracy of its financial statements. A financial reporting analyst typically uses software to gather information and generate reports.
He may create spreadsheets or graphs that illustrate data regarding income, receivables , and other aspects that reflect the overall profitability of the organization. It is common for reporting analysts to present this information to managers and executives, who use analysts’ understanding of the data to develop growth strategies.
And for those of you who are curious about what the career path is like, pay attention to the explanation below to know more about the career path of a financial reporting analyst!
What are the responsibilities of a financial reporting analyst?
- Carry out checks for all receipts and balance sheets of the company.
- Prepare documents that serve as proof of company transactions
- Make a report addressed to the auditor.
- Maintain smooth communication with each department to ensure that no financial statements have errors.
- Analyze income and expenses.
- Create an annual report.
- Provide information to investors, promoters, debt providers, shareholders, and/or creditors to help them make rational decisions regarding investment and credit.
What is the estimated salary of a financial reporting analyst?
The amount of salary is determined by the height of the position in the job and the length of experience of a financial reporting analyst.
The initial level of the position in this field is the Accounting Officer. With a requirement of 5 years of experience, this position has an estimated salary of around Rp7,000,000 to Rp9,000,000.00 per month.
The advanced level, namely the Financial Reporting Analyst, has an estimated salary of around Rp. 12,000,000 to Rp. 14,000,000 per month. Usually, people holding this position already have experience in a related field for 10 years.
What is the career path of a financial reporting analyst?
- Accounting Officer
- Length of experience: 5 years
- Financial Reporting Analyst
- Length of experience: 10 years
What qualifications are needed to become a financial reporting analyst?
As mentioned earlier, a financial reporting analyst has a great responsibility to maintain the good name of the company. Not only that, but you also have to ensure that every financial report issued by each department has a high level of accuracy.
To achieve this, good communication with each department of the company is also needed. With so many responsibilities that must be carried out, financial reporting analysts must also require the various skills below so that their work is carried out properly.
1. Operate Microsoft Office
As the name suggests, financial reporting analyst, this job will deal a lot with reports, especially financial statements. Therefore, you need to have skills in operating software such as Microsoft Office to create your reports. The software that is very mandatory to master, of course, is Microsoft Excel.
Skills in the field of accounting are also skills that must be possessed by a financial reporting analyst, considering that his job is related to financial statements. Even in each vacancy of this position, a certain level of education in accounting is often one of the main requirements for applying.
As a financial reporting analyst, you need good communication skills, both verbal and nonverbal, so that there is no misinformation about the reports provided.
2. Critical and rational thinking
If you are interested in becoming a financial analyst, you must always be able to think of solutions and reasonable proposals to improve the company’s financial condition. For example, when there is a possibility of a decrease in profits when you analyze financial statements, you must be quick to think about what kind of solution is the most effective and possible to realize.
3. Analytical Skills
While working as a financial reporting analyst, of course, you must have the skills to do analysis. In the process of collecting and analyzing data on income and expenses obtained, you are expected to be able to think logically to produce forecasts of the company’s financial condition.
During your work, you will need a lot of help from other people, be it colleagues, bosses, or staff. Holding a senior position also does not mean that you will work alone. Instead, the responsibility you hold will be greater and you will need more help. Therefore, the ability to work together on a job will go a long way towards getting your work done.
5. Management of mental health
From the previous sections, it has been seen that the job as a financial analyst has great pressure. Although the salary you will get is certainly also large, you will not be able to enjoy it if your mental health is not maintained. Although often underestimated, the ability to manage mental health is critical to ensuring you don’t experience burn-out while working.
In general, financial analyst job vacancies have a minimum education requirement of S1 in accounting or other related fields. S2 education in the same or similar field will also be a plus.
To apply for a job as a financial reporting analyst in Indonesia, you don’t need a special certification.
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Development of a financial reporting analyst career path
As mentioned earlier, S2 education will be a “plus” in the eyes of job recruiters. Therefore, if you want and are capable, you can really continue your education in accounting until you get a master’s degree.
If continuing higher education is not possible for you, don’t despair first! You can also be accepted as a financial analyst with a Bachelor’s degree and still get a “plus”. How? By attending various trainings on many skills in the field of finance, for example e-commerce and digital marketing.
You can develop these two skills through training held by JobStreet and FutureLearn free of charge! If you want to take part in training other than these two things, don’t worry, because this training platform also provides transferable skills training that includes mental health management, career development, to English language skills.
From the explanation above, are you interested in becoming a financial reporting analyst? Hopefully, the information will be useful, good luck, and good luck. And see you in the next article!