Financial accounting is the branch of accountancy responsible for the preparation of financial statements that represent the financial and business reality of a company at a certain point in time, and over the previous accounting period. In its strictest sense, it is more focused on information for external stakeholders than internal management, although role definitions within commerce & industry often incorporate financial and management accounting.

A financial accountant will produce the financial statements, as well as providing the relevant commentary and analysis, which requires detailed understanding of the business as a whole. Responsibilities also include the reconciliation of accounts, maintaining financial control over the business, managing financial systems to manipulate and analyse data and improving financial processes.

Is it for you?
To be successful, you need strong technical accounting knowledge, a firm understanding of the relevant accounting principles, a keen eye for detail, and the ability to present technical and complex financial information, both written and verbally, often to senior managers and directors.

Career Prospects
The role of financial accountant provides excellent exposure to the foundations of accounting within companies, which forms a strong platform from which to pursue an analytical career or financial controller and finance director positions later in your career.