Accounting

Description

The documentation and processing of data regarding financial activities.

Alternative labels

bookkeeping

Skill type

knowledge

Skill reusability level

cross-sector

Relationships with occupations

Essential knowledge

Accounting is an essential knowledge of the following occupations:

Branch manager: Branch managers are responsible for the management of all the affairs related with a company in a specific geographic region or business branch. They receive indications from the headquarters, and depending on the structure of the company, they aim to implement the strategy of the company while adapting it to the market where the branch operates. They envision management of employees, communications, marketing efforts, and follow up to results and objectives.
Financial auditor: Financial auditors collect and examine financial data for clients, organisations and companies. They ensure the financial data is properly maintained and free of material misstatements due to error or fraud, that it adds up, and functions legally and effectively. They review lending and credit policies or numbers in databases and documents, evaluate, consult and assist the source of the transaction if necessary. They use their review of the client’s financial governance as assurance to give testimony to the shareholders, stakeholders and board of directors of the organisation or company that all is up to par.
Business administration vocational teacher: Business administration vocational teachers for business administration instruct students in their specialised field of study, business administration, which is predominantly practical in nature. They provide theoretical instruction in service of the practical skills and techniques the students must subsequently master for a business administration-related profession, such as accountant or banker. Business administration vocational teachers monitor the students’ progress, assist individually when necessary, and evaluate their knowledge and performance on the subject of business administration through assignments, tests and examinations.
Betting manager: Betting managers organise and coordinate the activities of a betting shop. They oversee daily operations and facilitate communication between staff and customers. They carry out cashier duties, train staff and strive to improve the profitability of their business. They take responsibility for all betting activities and ensure that relevant betting rules and regulations are followed.
Financial analyst:
Financial analysts conduct economic research and elicit valuable analyses on financial matters such as profitability, liquidity, solvency, and asset management. They provide recommendations on financial matters for decision-making processes. Financial analysts work in both the public and the private sector.
Bank treasurer: Bank treasurers oversee all aspects of the financial management of a bank. They manage the liquidity and solvency of the bank. They manage and present current budgets, revise financial forecasts, prepare accounts for audit, manage the bank’s accounts and maintain accurate record-keeping of financial documentation.
Headteacher: Headteachers manage the day-to-day activities of an educational institution. They make decisions concerning admissions and are responsible for meeting curriculum standards, which facilitate academic development for the students. They manage staff, working closely with the different department heads, and evaluate the subject teachers in a timely manner in order to secure optimal class performance. They also ensure the school meets the national education requirements set by law and cooperate with local communities and governments.

Optional knowledge

Accounting is optional for these occupations. This means knowing this knowledge may be an asset for career advancement if you are in one of these occupations.

Foreign exchange trader: Foreign exchange traders buy and sell foreign currencies in order to secure a profit on fluctuations in foreign exchange rates. They undertake technical analysis of economic information (market liquidity and volatility ) to predict the future rates of currencies on the foreign exchange market. They trade on their own name or for their employers.
Credit analyst: Credit analysts investigate credit applications from customers and evaluate if the applications comply with regulations and guidelines of the financial loan-granting institution. On the basis of credit analyses they advise financial institutions whether customers are loan worthy. They perform tasks such as collecting data on the loan applicant, aquire additional information from other departments or institutions and indicating what sort of agreements the financial institution should reach with the credit applicant. Credit analysts also follow up on the development of the credit portfolio of clients.
Spa manager: Spa managers coordinate the day-to-day operations of the spa establishment in order to provide guests with the best customer experiences. They oversee the activities and performance of staff, manage the financial aspects of the Spa, deal with suppliers and run advertising campaigns for the spa in order to attract more customers.
Mergers and acquisitions analyst: Mergers and acquisitions analysts oversee the execution of transactions for the purchase, sale, merger or takeover of companies. They negotiate and complete the deal on the client’s behalf, by working closely with lawyers and accountants. Mergers and acquisitions analysts conduct operational and legal risk assessments of a company, assess comparable companies in the market and help with the post-merger integration.
Financial manager: Financial managers handle all the matters in reference to the finance and investments of a company. They manage financial operations of companies such as the assets, liabilities, equity and cash flow aiming to maintain the financial health of the company and operative viability. Financial managers evaluate the strategic plans of the company in financial terms, maintain transparent financial operations for taxation and auditing bodies, and create the financial statements of the company at the end of the fiscal year.
Financial markets back office administrator: Financial markets back office administrators perform administrative tasks for all the transactions registered in the trading room. They process transactions involving securities, derivatives, foreign exchange, commodities, and manage the clearing and settling of trades.
Stock trader: Stock traders use their technical expertise of financial markets performance to advise and make recommendations to asset managers or shareholders for a profitable investment strategy, keeping in mind the company’s performance. They use stock market trading operations and deal with a wide array of taxes, commissions and fiscal obligations. Stock traders buy and sell bonds, stocks, futures and shares in hedge funds. They perform detailed micro- and macroeconomic and industry specific technical analysis.
Marketing assistant: Marketing assistants support all the efforts and operations carried out by marketing managers and officers. They prepare reports in relation to the marketing operations needed by other departments, especially account and financial divisions. They ensure that resources needed by the managers to perform their job are in place.
 
Lottery manager: Lottery managers organise and coordinate the activities of a lottery organisation. They oversee daily operations and facilitate communications between staff and customers. They review lottery procedures, arrange prices train staff and strive to improve the profitability of their business. They take responsibility for all lottery activities and ensure that relevant lottery rules and regulations are followed.
Business manager: Business managers are responsible for setting the objectives of the business unit of a company, creating a plan for the operations, and facilitating the achievement of the objectives and implementation of the plan together with employees of the segment and stakeholders. They keep an overview of the business, understand detailed information of the business unit and support the department, and make decisions based on the information at hand.
Education administrator: Education administrators organise and manage the administration, support systems and (student) activities of an education institution. They perform a range of administrative, secretarial, financial and otherwise supportive tasks to enable the efficient and cost-effective running of the school. They may assist in student recruitment, alumni relations, funding, work on committees including academic boards and quality insurance.
Cultural facilities manager: Cultural facilities managers direct the operations of facilities that provide cultural services such as theatre, movies and music. They plan and organise the daily operations of the related staff and facilities and ensure the organisation follows the latest developments in its field. They coordinate the different departments of the facility and manage the correct use of resources, policies and budgets.
Photography shop manager: Photography shop managers are responsible for activities and staff in a photography store. ​They manage employees, monitor the sales of the store, manage budgets and order supplies when a product is out of supply and perform administrative duties if required.
Recreational facilities manager: Recreational facilities managers direct the operations of facilities that provide recreational services such as gardens, spas, zoos, gambling and lottery facilities. They plan and organise the daily operations of the related staff and facilities and ensure the organisation follows the latest developments in its field. They coordinate the different departments of the facility and manage the correct use of resources and budgets.

Kitchen and bathroom shop manager: Kitchen and bathroom shop managers are responsible for activities and staff in specialised shops that sell kitchens and bathrooms. ​They manage employees, monitor the sales of the store, manage budgets and order supplies when a product is out of supply and perform administrative duties if required.
Vocational teacher: Vocational teachers instruct students in their specialised field of study, which is predominantly practical in nature. They provide theoretical instruction in service of the practical skills and techniques that the students must subsequently master in the specialised vocation of their choice and aid in the development of the according attitudes and values. Vocational teachers monitor the students progress, assist individually when necessary, and evaluate their knowledge and performance on the subject through assignments, tests and examinations.
Medical practice manager: Medical practice managers manage the day-to-day operations of a medical practice. They oversee the staff and business side of the practice.
Stock broker: Stock brokers act on behalf of their individual or institutional clients in order to buy and sell stocks and other securities. They are in close contact with their clients and ensure that what they buy or sell through the stock exchange market is according to their clients’ wishes. Stock brokers undertake analyst research to make recommendations to their clients and expand their client base through various methods.
Investment fund management assistant: Investment fund management assistants provide clients with financial planning advice on financial products and serve as the main contact point for new and old clients. They assist and perform preparatory work in the creation and administration of funds and help with the implementation of fund management decisions made by the portfolio or fund manager.
Department manager: Department managers are responsible for the operations of a certain division or department of a company. They ensure objectives and goals are reached and manage employees.
Business and marketing vocational teacher: Business and marketing vocational teachers instruct students in their specialised field of study, sales and marketing, which is predominantly practical in nature. They provide theoretical instruction in service of the practical skills and techniques the students must subsequently master for a sales and marketing-related profession. Business and marketing vocational teachers monitor the students’ progress, assist individually when necessary, and evaluate their knowledge and performance on the subject of sales and marketing through assignments, tests and examinations.
Payroll clerk: Payroll clerks manage the time sheets and pay checks of the employees. They make sure the information there is correct. Payroll clerks check overtime, sick days and vacation. They distribute the pay checks.
Facilities manager: Facilities managers perform strategic planning as well as routine operational planning related to buildings’ administration and maintenance. They control and manage health and safety procedures, supervise the work of contractors, plan and handle buildings maintenance operations, fire safety and security issues, oversee buildings’ cleaning activities, utilities infrastructure and are in charge of space management.
Craft shop manager: Craft shop managers are responsible for activities and staff in specialised shops that sell equipment and supplies for craft activities such as sewing, painting or pottery making. ​They manage employees, monitor the sales of the store, manage budgets and order supplies when a product is out of supply and perform administrative duties if required.
Service manager: Service managers are responsible for the supervision and coordination of the provision of different professional and technical services to customers. They ensure a smooth interaction with clients and high levels of satisfaction post-service. This occupation includes the provision of policing, correctional, library, legal and fire services.
Securities broker: Securities brokers create the connection between the investors and the available investment opportunities. They purchase and sell securities on their clients’ behalf, based on their expertise in the financial markets. They monitor the performance of their clients’ securities, assessing their stability or speculative tendencies. Securities brokers calculate the securities’ price and place orders.
Student financial support coordinator: Student financial support coordinators assist students and education administrators in the management of tuition fees and student loans. They advise on and determine the amounts and the eligibility of student loans, advise students on available, suitable loans and liaise with outside loans sources, such as banks, to facilitate the student loan process. They make professional judgement decisions concerning students’ eligibility for financial aid and may set up counsel meetings including the student’s parents to discuss financial support issues and solutions.
Operations manager: Operations managers plan, oversee and coordinate the daily operations of production of goods and provision of services. They also formulate and implement company policies and plan the use of human resources and materials.
Real estate leasing manager: Real estate leasing managers set up the lease or rental efforts of an apartment community and properties not in co-ownership and also manage the leasing staff. They produce, track and manage file leasing deposits and documents. They also oversee the lease administration and prepare tenancy budgets on an annual and monthly basis. They also actively promote the vacancies available in order to get new residents, show properties to potential tenants and are present to conclude contracts between landlords and tenants when dealing with private property.
Corporate banking manager: Corporate banking managers offer advice on a broad range of financial goods and services such as securities services, credit services, cash management, insurance products, leasing, information on merges and acquisitions and capital markets activities, to institutions and organisations.
Drugstore manager: Drugstore managers are responsible for activities and staff in drugstores that sell items such as magazines, household products, medicines, cosmetics, candy or refreshments. ​They manage employees, monitor the sales of the store, manage budgets and order supplies when a product is out of supply and perform administrative duties if required.
Bicycle shop manager: Bicycle shop managers are responsible for activities and staff in specialised shops that sell and repair bicycles. ​They manage employees, monitor the sales of the store, manage budgets and order supplies when a product is out of supply and perform administrative duties if required.
Foreign exchange broker: Foreign exchange brokers buy and sell foreign currencies on behalf of their clients in order to secure a profit on fluctuations in foreign exchange rates. They undertake technical analysis of economic information such as market liquidity and volatility, to predict the future rates of currencies on the foreign exchange market.

 


 

References

  1. Accounting – ESCO

 

Last updated on September 20, 2022

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