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Financial Accountant

Financial Accountant

With financial statements required by law, properly trained and educated Financial Accountants are always in high demand.

What's it like to be a Financial Accountant?

Financial Accountants are responsible for the accounting and financial activities of a company.

Tasks and duties

  • Preparing monthly profit and loss, and balance sheet reports.
  • Preparing cash flow statements and controlling expenditures.
  • Collecting and analysing data used in the preparation of regular estimates.
  • Assisting with end-of-financial-year accounts and statutory accounts.
In particular, Financial Accountants report on costs, productivity, margins and company expenditures to ensure that relevant and reliable information is provided to other departments and external stakeholders.
Financial Accountants oversee the reporting of a company's financial statements; these documents are required by law.

What can I earn as a Financial Accountant?

The most common salary  for a Financial Accountant is between $80k and $90k
Source: SEEK job ads and SEEK Profile data

How to become a Financial Accountant

To work as a Financial Accountant, a bachelor's degree in the financial field is required, and a Chartered Accountant (CA) or Certified Practising Accountant (CPA) qualification is desirable and likely to offer a competitive edge.
  1. Complete a bachelor degree in the field of accounting. This could be a Bachelor of Accounting or a Bachelor of Business (Accounting). These are usually three year courses and are open to anyone who is 17 years of age or older and has completed year 12 with the necessary Universities Admission Index.
  2. Work for three years gathering professional experience in finance, accounting or business and undertake professional development activities each year.
  3. Complete a Graduate Diploma of Chartered Accounting (GradDip CA) or a CPA program.

Explore Financial Accountant qualifications

To become a Financial Accountant, you'll need to complete a degree in the financial field, such as a Bachelor of Accounting. Browse qualifications and institutions, and find a course to suit your needs.

Duration 3 yrs - 6.5 yrs
16 institutions offering this qualification
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Duration 1 yr - 6 yrs
27 institutions offering this qualification
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Duration 2 yrs - 7 yrs
34 institutions offering this qualification
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Source: SEEK job ads and SEEK Profile data

What skills are employers looking for?

Employers want:

  • CA/CPA
  • Advanced Excel skills
  • Experience with a Big 4 accounting firm
  • Auditing experience
  • Reporting experience
  • Written skills
  • Self motivation
  • Initiative
  • Auditing
  • Organisational skills

Shortlisted applicants have:

  • CA/CPA
  • Financial reporting experience
  • MYOB
  • Excel
  • Xero
  • Ms office proficiency
  • Certified practicing accountant
  • Team work
  • Reconciliations
  • Thoroughness
Source: SEEK job ads and SEEK Profile data

How do Financial Accountants rate their role?

Latest reviews from 19 Financial Accountants surveyed on SEEK

Latest reviews

3 out of 5Feb 2018
Reviewer's Qualification
Post Grad BComm Accounting
Experience
5 - 9 years
Organisation size
Large (200+ employees)
Specialisation
Accounts
The good things
Being in finance is very satisfying if you enjoy the numbers but you need to find that role the gives you the satisfaction in all aspects. Eg i prefer management accounting while others enjoy financia...
The challenges
Work life balance is difficult with constant deadlines
Read more
4 out of 5Feb 2018
Reviewer's Qualification
Bachelor of Commerce
Experience
5 - 9 years
Organisation size
Medium (20-199 employees)
Specialisation
Corporate
The good things
Every day is different. Your title may be Financial Accountant but your real job is to put out any fires that may crop up in the finance and accounting and administration space. One day you may be on ...
The challenges
Depending on where you work, the last couple of days of the month and the first few days of the next month may be extremely busy. "Month end" is synonymous with late nights and frenzy to close the boo...
Read more
4 out of 5Feb 2018
Reviewer's Qualification
Bachelor of Finance
Experience
5 - 9 years
Organisation size
Large (200+ employees)
Specialisation
Not applicable
The good things
Being able to complete financial reporting and help management to make decisions
The challenges
Tight deadlines and changes in business to meet challenged business environment
Read more
Rating:4
Date received:Feb 2018
Financial Accountant for a day
Reviewer's Qualification:Bachelor of Commerce and Economics
Experience:10+ years
Organisation size:Large (200+ employees)
Specialisation:Not applicable
The good things:Financial Accounting is a fabulous work. It helps employer to account for all financial transaction and reporting based on current accounting standards.
The challenges:Able to keep up with the changing landscape of new Accounting Standards and application.
Rating:4
Date received:Feb 2018
Smart job
Reviewer's Qualification:Bachelor
Experience:0 - 4 years
Organisation size:Small (1-19 employees)
Specialisation:Not applicable
The good things:Fun
The challenges:Time consuming
Rating:3
Date received:Feb 2018
There are a lot of challenges but more challenges more fun.
Reviewer's Qualification:Bachelor of business and information Managment
Experience:0 - 4 years
Organisation size:Large (200+ employees)
Specialisation:Not applicable
The good things:As a Financial Accountant, you need to know all parts of the business and understand how business operate.
The challenges:It is very very busy during the month end period. You may need to work over time to finish the month end accounts.
Rating:4
Date received:Feb 2018
Good career path, but prepare for some monotony and pressure
Reviewer's Qualification:Bachelor of Commerce
Experience:10+ years
Organisation size:Large (200+ employees)
Specialisation:Finance
The good things:Good compensation relative to some other professions and there's a good mix of routine and variety. There's also a clear career path into senior roles both in Finance and in business generally.
The challenges:Routine month-end tasks can get repetitive. Also balancing these with project work and other responsibilities can lead to significant pressure.
Rating:5
Date received:Feb 2018
Accounting is challenging
Reviewer's Qualification:Bachelor of Accountancy
Experience:10+ years
Organisation size:Large (200+ employees)
Specialisation:Not applicable
The good things:My role is diverse. From the usual month end, stats prep, review of junior works, I allso do process improvements, testing and documentation, helping others and technical accounting.
The challenges:Ability to multitask and understand the end to end process.
Rating:4
Date received:Feb 2018
It is all about numbers, but I can of cause enjoy it !!
Reviewer's Qualification:Bsc Busuiness Administration (Finance) Degree
Experience:0 - 4 years
Organisation size:Large (200+ employees)
Specialisation:Corporate accounting
The good things:if like working with numbers, this is it
The challenges:It is a great opportunity to see how the whole organization work in financial point of view
Rating:5
Date received:Feb 2018
Financial management accounting
Reviewer's Qualification:Advanced diploma in accounting and financial services
Experience:10+ years
Organisation size:Large (200+ employees)
Specialisation:Accounts financial
The good things:Financial, management is my expertise and is what I am keen to work, it comes with challenges however just makes me stronger and strives me to keep learning love it
The challenges:Time management in meeting deadlines can be stressful however with a. Positive attitude and a can do motivational enthusiastic personality it will be done on time
Rating:5
Date received:Feb 2018
Accounting is interesting & diverse, not tedious & boring
Reviewer's Qualification:Bachelor of Business
Experience:5 - 9 years
Organisation size:Medium (20-199 employees)
Specialisation:Not applicable
The good things:Working as a Financial Accountant is challenging and rewarding, with a variety of responsibilities and potential career paths on offer
The challenges:It can be difficult for women to climb the ladder into more senior management positions, but supportive mentors and a workplace with the right culture make all the difference.
Rating:4
Date received:Feb 2018
You can make a real difference to a business with accounting
Reviewer's Qualification:Chartered Accountancy
Experience:5 - 9 years
Organisation size:Large (200+ employees)
Specialisation:Not applicable
The good things:Everything in accounting is reversible. This means that any errors in this field can be easily fixed. Accounting also allows you to think logically and help your business grow because accounting information is the basis of any good business decision. Lastly accounting allows you to network with every faculty of a business (i.e human resources, IT...etc)
The challenges:Small periods of long hours. Accounting sometimes requires you to work back a little bit longer as their are many deadlines to meet at certain parts of the year. If you enjoy your work, this will be a challenge you will want to take on.
Rating:4
Date received:Feb 2018
Financial accountant is a good role
Reviewer's Qualification:CIMA
Experience:10+ years
Organisation size:Large (200+ employees)
Specialisation:Fixed assets
The good things:Interesting,variety in tasks
The challenges:meeting the dead line
Rating:3
Date received:Feb 2018
accounting sometimes is fed up with me
Reviewer's Qualification:bachelor of accounting
Experience:10+ years
Organisation size:Large (200+ employees)
Specialisation:financial department
The good things:accounting is a innovative job
The challenges:my challenge is to be always careful
Rating:4
Date received:Feb 2018
Financial Accounting is the first step into senior role
Reviewer's Qualification:Bachelor of Accounting and Finance
Experience:0 - 4 years
Organisation size:Medium (20-199 employees)
Specialisation:Finance
The good things:Leaning new things and considering things from different angles
The challenges:High level of communication skills
Rating:4
Date received:Feb 2018
Finance-acc
Reviewer's Qualification:Bsc
Experience:5 - 9 years
Organisation size:Small (1-19 employees)
Specialisation:Properties and fixed asset
The good things:I love my job as I there is a variety. I am able to guide and share my knowledge with my colleagues. Everyday is different.
The challenges:Challenges are time management. It is quite busy during budget and end of financial year. Some times you have to deal with other departments with no knowledge accounts.
Rating:4
Date received:Feb 2018
Financial Accountant, ACA CPA
Reviewer's Qualification:Bachelor
Experience:5 - 9 years
Organisation size:Large (200+ employees)
Specialisation:Finance department
The good things:I have passion in doing my job. Great deals with management and people around the office. This role needs to be up to date with current rulings.
The challenges:Patient with numbers and how to deliver the report with accuracy and on time especially for management and other team.
Rating:3
Date received:Feb 2018
FA needs more excersise
Reviewer's Qualification:master of accounting
Experience:5 - 9 years
Organisation size:Small (1-19 employees)
Specialisation:Not applicable
The good things:FA involves more stardard procedure, analysis and figures, suitable for those who love figures
The challenges:Whole day sitting and starring the screen
Rating:3
Date received:Feb 2018
Accountant is important for good governance application.
Reviewer's Qualification:Master of Finance
Experience:5 - 9 years
Organisation size:Medium (20-199 employees)
Specialisation:Finance & Accounting
The good things:The first month as a grad Master of Finance is hard to find the fit jobs with my experiences. So many interview invitations went through but not follow up process. Finally at the end of first month a consultant firm give me tye chance to join in the firm as Finance Manager ( including as Associate/ Finance Advisor to handle clients)
The challenges:The first month join in the consultant firm is handle audit client's the performance management to give some advice for developing their business fields. It's not easy to describe their performance to make them understand the condition including their SWOT. Giving training Finance for non finance is the 2nd challenge. And the last challenge is become a trainer planning & budgeting for Timor Leste Presecutor Directors and Supreme Court Directors.
Source: SEEK Role Reviews

What are the job opportunities for Financial Accountants?

Find out how the job market is trending

Job opportunities

Financial Accountant jobs on SEEK
Source: SEEK

Projected job growth

National increase over next 5 years
4%
2018
2023
Source: LMIP. Accountants
Latest Financial Accountant jobs on SEEK
Lawson Elliott Recruitment
Sydney > CBD, Inner West & Eastern Suburbs
A fantastic opportunity for a Senior Financial Accountant to join this outstanding business in CBD.
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Private Advertiser
Brisbane > Southern Suburbs & Logan
Are you looking for that next career change, do you enjoy been part of a busy team. We are currently looking for a senior Financial Accountant.
Prime Financial Group Ltd
Melbourne > CBD & Inner Suburbs
This is an exciting opportunity for an experienced Senior Financial Accountant looking to join a great team in a varied and challenging role
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Hays Accountancy & Finance
ACT
We are looking for an EL 1 Financial Accountant 3 month contract with possible extension - Call Mark 62576344
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Source: SEEK job ads and SEEK Profile data

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Source: SEEK job ads and SEEK Profile data

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