Fund accountancy isn't as well-known a career path as a CPA or a corporate accountant. Instead, these specialists turn their focus to managing the finances of a specific fund. Their work includes generating financial reports, controlling transactions and fund activity, and investment accounting including tracking yields and interest.
The fund accountant is the key point of contact between clients and their employers, often firms offering this specialty accounting service. Meaning they'll often deal with investment managers such as a hedge fund manager or fund administrator, fund investors, and their employers. This means that, on top of their analytical skills, they will also need soft skills, which include excellent communication skills and interpersonal skills, time management skills, and excellent attention to detail, in addition to extensive knowledge and education in accounting so that they can deal with all client demands. Those in the fund accountant role might work in the office of non-profits or government agencies, financial institutions, hedge funds, or investment funds. They may find companies hiring directly into fund accountant positions or earn promotions from positions such as that of a senior staff accountant, investment accounting specialist, internal accountant, project auditor, etc.
The defining factor for all sectors, however, is ensuring that money is being used as intended, according to company policy. The accountant serves to help stakeholders make important decisions about how to best handle funds and assets.
If you're looking into a fund accountancy career yourself, here is a bit more about the profession and the education you'll need to get there and reach the management level.Search Accounting Programs
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