Monitor financial accounts

Handle financial administration of your department, keep the costs down to only necessary expenses and maximise the revenues of your organisation.

analyse financial accounts
analyse financial records
monitor finance accounts

skill/competence

cross-sector

Monitor financial accounts is an essential skill of the following occupations:

Hospitality revenue manager: Hospitality revenue managers maximise revenue generated from facilities such as hotels,  holiday resorts and camping grounds by analysing trends and competition. They assist establishment managers in strategic decisions. Hospitality revenue managers analyse and optimise the financial potential of facilities and manage the corresponding staff.
Rooms division manager: Rooms division managers are in charge of managing and coordinating a team of employees at front desk, reservations, housekeeping and maintenance departments.

Accounting manager: Accounting managers assume responsibility for all accounting activities relating to financial reporting. They develop and maintain accounting principles and procedures to ensure timely and accurate financial statements issued, supervise accounting staff and manage the accounting activities within the appropriate time frame and budget.
Bed and breakfast operator: Bed and breakfast operators manage the daily operations of a bed and breakfast establishment. They ensure the guests’ needs are met.
Budget manager: Budget managers assess financial proposals of different departments before granting financial resources to projects. They monitor the implementation of budget policies and procedures. They work closely with other departments in the evaluation of programs, their impact in the organisation, the revenue that they can yield, and the financial efforts required.
Accommodation manager: Accommodation managers are in charge of managing the operations and overseeing the strategy for a hospitality establishment. They manage human resources, finances, marketing and operations through activities such as supervising the staff, keeping financial records and organising activities.
Public finance accountant: Public finance accountants head the treasury department of a governmental institution. They manage the institution’s financial administration, expenditure and income generation, and compliance with taxation and other financial legislation. They perform administrative duties to ensure record keeping, develop plans for budget management and perform financial forecasts.
Travel agency manager: Travel agency managers are in charge of managing employees and activities of a travel agency. They organise, advertise and sell tourist offers and travel deals for specific regions.
Tax inspector: Tax inspectors are responsible for the calculation of taxation and the ensurance of its timely payment by individuals and organisations. They provide information and guidance concerning taxation legislation and examine financial documents and accounts to ensure compliance with legislation. They also examine records to investigate fraud.
Accounting analyst: Accounting analysts evaluate the financial statements of clients, usually companies, which include the income sheet, the balance sheet, the statement of cash flows and additional notes to other financial statements. They interpret and implement new accounting systems and accounting procedures and will analyse and determine if the proposed systems conform to accounting regulations and meet user information requirements.
Restaurant manager: Restaurant managers are in charge of managing food and beverage operations in the kitchen and other food and beverage outlets or units in a hospitality establishment.

Monitor financial accounts is optional for these occupations. This means knowing this skill may be an asset for career advancement if you are in one of these occupations.

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.
Tax compliance officer: Tax compliance officers collect fees, debt, and taxes on behalf of government institutions in cities, municipalities and other jurisdictions. They perform administrative duties and communicate with other officials and institutions to ensure operations are correct and compliant with policies.
Court administrative officer: Court administrative officers perform administrative and assisting duties for the court and judges. They are designated to accept or reject applications for informal probate and informal appointment of a personal representative. They manage case accounts and handle official documents. Court administrative officers perform assisting duties during a court trial, such as calling out the cases and identification of parties, keeping notes, and recording orders from the judge..

References

1. Monitor financial accounts – ESCO