Accounting Analyst Salary in Toronto, Ontario

Accounting Analyst job description

Job Title: Accounting Analyst

Overview/Summary of the role:

An Accounting Analyst is responsible for performing financial analysis and providing insights into company performance to help management make informed business decisions. They analyze financial statements and provide recommendations that will help improve the company's financial performance. In addition, they prepare financial reports, maintain records of financial transactions, and assist in the development of budgets and forecasts.

Responsibilities and Duties:

- Conduct financial analysis and modeling of company performance, including creating and updating financial reports, financial forecasts and budgets, and cash flow analyses.

- Analyze and interpret financial data, including trends and anomalies, and provide recommendations to management based on findings.

- Prepare and present financial reports, including periodic financial statements, variance analyses, and other ad-hoc reports, to internal and external stakeholders.

- Manage financial reporting systems, including accounting software and financial databases, and ensure accurate and timely financial data is maintained.

Accounting Analyst interview questions

Interviewer: Hello, thank you for coming in today. Can you please introduce yourself and tell us a little about your background in accounting?

Candidate: Yes, of course. My name is John Smith and I have a Bachelor's degree in accounting. I have worked for the past 5 years in a public accounting firm, gaining experience in audit, tax, and financial reporting.

Interviewer: That sounds great. How do you ensure accuracy in financial reporting?

Candidate: To ensure accuracy in financial reporting, I make sure to review all relevant documentation and perform checks and balances to confirm figures match. I also verify that all calculations are correct and that no mistakes have been made in data input.

Interviewer: Can you walk me through the process of reconciling accounts?

Candidate: Absolutely. Reconciling accounts involves comparing the general ledger balance to the balance in the corresponding subsidiary ledger or bank statement. Any discrepancies are investigated, and once resolved, the balances are adjusted accordingly.