Finance Associate
What's it like to be a Finance Associate?
Finance Associates assist a Financial Manager with a company's financial statements and legal documents. They help with investment planning, budget creation, and payment assessment. Finance Associates also provide suggestions to increase profitability.
Tasks and duties
- Preparing financial reports and statements.
- Analysing financial data and trends.
- Assisting with budget preparation.
- Conducting audits of accounts and financial transactions.
- Managing accounts payable and receivable.
- Reconciling bank statements and other financial records.
- Maintaining accurate financial records and documentation.
- Ensuring financial information is accurate and consistent by collaborating with other departments.
- Assisting with financial forecasting and planning.
- Ensuring compliance with financial regulations and procedures.
- Handling financial inquiries and providing support to other departments as needed.
How to become a Finance Associate
To work as a Finance Associate, strong analytical skills and familiarity with financial management software like QuickBooks and FreshBooks are essential. Depending on the employer, you may also need to demonstrate knowledge of tax codes, accounting standards, and fiscal procedures.
Complete a degree or LCCI (London Chamber of Commerce and Industry International qualifications) in accounting, finance, economics, or a related field.
Start at an entry-level position, such as a Junior Tax Associate, to learn and apply Generally Accepted Accounting Principles (GAAP) set by the Malaysian Accounting Standards Board.
Add to your credentials by obtaining licences, such as Certified Public Accountant (CPA), from reputable institutions like the Chartered Certified Accountants (ACCA), the Chartered Tax Institute of Malaysia (CTIM), and the Malaysian Institute of Certified Public Accountants.
Consider pursuing higher education relevant to your industry, such as a master's degree in finance.
Seek opportunities to advance to more senior roles and aim to become a Finance Manager or Head of Finance.
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