What is a financial accountant

Difference Between Financial Accountant and Accountant

A common question is what is the difference between a financial accountant and an accountant. The job title Certified accountant is a recognized qualification. While everyone Financial accountant that has something to do with accounting is the term Certified accountant protected. The accountant training enjoys a very high reputation in the economy.

To be as Accountant To be able to title, you have to take an exam. This is usually with the responsible Chamber of Industry and Commerce. Those who have passed the IHK exam are then allowed to do so Certified accountant (IHK) call. The degree is equivalent to a master’s degree.

The training to become an accountant is very extensive. You have to learn and understand a lot. It is therefore very advisable to take a good accountant course. With a good education you increase your chances enormously and you can count on a good accountant salary later on.

What are the duties of a financial accountant?

A Financial accountant is a normal accountant. Neither the job title Accountant as well as Financial accountant are protected. That means everyone can work in this profession. In Germany, accountants have usually completed a commercial apprenticeship. This can be, for example, training as an office clerk.

The financial accountant posts ongoing business transactions. This includes, for example, posting and accounting for the bank and cash register. In addition, financial accountants often take on accounts receivable and accounts payable. Often the annual financial statements are also prepared. Depending on the specialization, this can also only be a certain area of ​​these accounting tasks. In many cases, financial accountants also write the tax return.

A financial accountant can also be specialized. So there are accountants who only work as Accounts Payable Clerk, Accounts Receivable Clerk or Asset Accountant are active.

However, the financial accountant is usually not familiar with HGB and tax laws. Many accountants have only learned the basics of proper accounting (GoB) in their commercial training. Far-reaching management tasks and decisions cannot be made with this knowledge. In this case, the tax advisor must often be asked.

And what are the duties of the accountant?

In contrast, the tasks of the Accountant more far-reaching.

An accountant primarily makes decisions based on current commercial and tax laws. He is very familiar with these laws and the guidelines and can use them to answer any questions that may arise.

The accountant prepares the company's balance sheet. Depending on the company, this can be based on the German Commercial Code (HGB), the International Financial Reporting Standards (IFRS) or US GAAP.

A balance sheet accountant has extensive knowledge in preparing annual financial statements according to the various regulations. The knowledge goes far beyond that of normal ongoing bookkeeping.

Accountants are often managers and, for example, as Head of accounting active.

Do you know any other differences between financial accountants and accountants?