How to become Final Accounts Officer?

How to become Final Accounts Officer?

What is a final accounts officer?

  • An Accounts Officer monitors the company’s day to day transactions such as where they would be doing bookkeeping tasks like recording invoices, analysing the business's financial situation. This is then informed to the board of directors for them to make decisions.

The main focus is:

  • Trading accounts
  • Profit and loss accounts/ Income statement
  • Balance sheet
  • These are the final stages of the financial system for an organisation . It will show the financial situation of the company to see whether they are making a profit or loss for them to minimise their mistakes in the future or soon become successful.

What are Final Accounts Officers role?

  • Processing Invoices
  • Tracks Expenses
  • Bookkeeping Duties
  • Communicating with customers
  • Sending bills to customers; processes refunds
  • Interacts with collection agencies on past-due accounts
  • Works to resolve billing disputes.

How do you become a Final Accounts Officer?

You will require degrees in the following subjects:

  • Business Management
  • Economics
  • Accountancy and finance
  • Mathematics Statistics
  • Once employed, you are usually provided professional accountancy training on-the-job. You are also encouraged to work towards various industry qualifications and qualify various professional examinations. You may refer to the websites of professional bodies offering such qualifications:
  • Association of Chartered Certified Accountants (ACCA)
  • Chartered Institute of Management Accountants (CIMA)
  • Chartered Institute of Public Finance & Accountancy (CIPFA)
  • Institute of Chartered Accountants in England and Wales (ICAEW)
  • You may also enter into this profession by studying for an accounting technician qualification offered by the Association of Chartered Certified Accountants (ACCA)  or The Institute of Financial Accountants (IFA). After this, you may easily work your way up to a management position through professional accountancy training.

What skills are required for the role Final Accounts Officer?

  • Organisational
  • Time Management
  • Team Working
  • Decision Making
  • Communication and Interpersonal skills
  • Proficiency in IT
  • Analytical ability
  • Problem-Solving skills
  • Numeracy
  • Accuracy
  • Attention to Detail

What is the salary of Final Accounts Officer?

For this job you will need to have experience in Bookkeeping, Payroll, Accounts Assistant etc. as this is a senior position meaning experience is required for this job role as well as having excellent knowledge about the financial industry.

After completing an undergraduate degree, the starting salary will be £28,000. After completing the postgraduates courses or an accounting professional body. The number will go up to £35,000 and the numbers will rise with the more years they are working in this field.

How can Future Connect Training help in becoming Final Accounts Officer?

The training will include:

  • Accounts opening Balance Adjustments
  • Trial balance analysis & corrections
  • Month & Year end Adjustments
  • Depreciation, Wages Journals
  • Control Accounts
  • Clearing Suspense Account
  • Adjusted Trial balance
  • Aged debtor & Creditor analysis
  • Management Accounts
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