We are independent & ad-supported. We may earn a commission for purchases made through our links.

Advertiser Disclosure

Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.

How We Make Money

We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently from our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.

What Does a Financial Reporting Analyst Do?

By D. Nelson
Updated Mar 03, 2024
Our promise to you
Practical Adult Insights is dedicated to creating trustworthy, high-quality content that always prioritizes transparency, integrity, and inclusivity above all else. Our ensure that our content creation and review process includes rigorous fact-checking, evidence-based, and continual updates to ensure accuracy and reliability.

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

Editorial Standards

At Practical Adult Insights, we are committed to creating content that you can trust. Our editorial process is designed to ensure that every piece of content we publish is accurate, reliable, and informative.

Our team of experienced writers and editors follows a strict set of guidelines to ensure the highest quality content. We conduct thorough research, fact-check all information, and rely on credible sources to back up our claims. Our content is reviewed by subject matter experts to ensure accuracy and clarity.

We believe in transparency and maintain editorial independence from our advertisers. Our team does not receive direct compensation from advertisers, allowing us to create unbiased content that prioritizes your interests.

Financial reporting analysts are usually responsible for gathering and analyzing financial data for an organization. In most cases, these professionals consult financial executives on how best to plan for the future. They might also prepare financial statements that are used in external auditing processes. While this kind of professional might work as an in-house professional in a finance or accounting department, a financial reporting analyst might also work for a financial consulting firm. In these cases, the analyst often is contracted by an organization that needs assistance preparing documents for external or internal audits.

Professionals in these roles almost always have undergraduate degrees in fields such as finance or accounting. In more competitive job markets, they have master's degrees in these fields. It also is common to find analysts who have professional certification, such as Certified Public Accountant (CPA) certification in the United States.

A financial reporting analyst commonly uses software to gather information and generate reports. He or she might compose spreadsheets or graphs that illustrate data regarding revenue, accounts receivable, and other aspects that reflect the overall profitability of an organization. It is common for a reporting analyst to present this information to managers and executives, who use an analyst's understanding of data to develop strategies for growth.

When a financial reporting analyst performs external reporting, it usually is for tax purposes. Regulatory agencies supported by government might request audits, in which case the analysts are responsible for gathering requested statements. They also prepare financial intelligence for individuals such as shareholders and investors who have interest in an organization's performance.

A financial reporting analyst often is a high level professional. He or she is responsible for seeing the big picture, as opposed to department or branch accountants who oversee financial matters related specifically to their areas. It is common for a reporting analyst to meet with department and branch accountants to discuss the needs of their areas. Likewise, an analyst might present them with budgets and instructions for spending.

In some cases, these analysts look at greater issues, such as market behaviors and business environments. These analysts can act as consultants at the executive level. They might encourage company decision makers to start making certain products depending on market trends. It might also be the job of an analyst to predict demand and profit margins in new markets. Executives commonly hire analysts from outside their organizations for this kind of service so they can receive objective analysis.

Practical Adult Insights is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.

Discussion Comments

By SarahGen — On Oct 29, 2014

It sounds like this position combines two jobs together. In some organizations, there are people who analyze financial information and then there are people who report them and advise about them.

I can see how a financial reporting analyst can be very useful to a small company that doesn't have the finances to keep a financial analyst or advisor on the payroll year-round. Hiring the services of a financial reporting analyst is more efficient and cost-effective.

By bear78 — On Oct 29, 2014

@donasmrs-- The article has touched on this. It can be either way. Usually, when it comes to audits, financial reporting analysts are hired on an on-need basis because the company will only need an audit once a year or periodically.

But, there may also be cases where a company has a permanent financial reporting analyst. Especially if the analyst is collecting data and giving advice to both company managers and external shareholders on financial decisions

So it depends on the situation and the needs of the company.

By donasmrs — On Oct 28, 2014

So financial reporting analysts aren't permanent employees? Are they hired only on an on-need basis for audits and projects?

Practical Adult Insights, in your inbox

Our latest articles, guides, and more, delivered daily.

Practical Adult Insights, in your inbox

Our latest articles, guides, and more, delivered daily.