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Generally, those with fund accountant jobs are responsible for the fiscal management of funds related to financial assets. Basic duties of fund accountants may include the analysis, reporting, and tracking of the performance of funds. Actual duties may vary depending on the type of fund and company where the fund accountant works. Most fund accountant jobs may also involve managing the fund according to accounting standards.
Fund accounting is typically associated with reconciling the records of different funds, whether using the fund for expenses or profits. In general, fund accounting jobs monitor the expenditures and growth of a fund over a period of time. The primary duties associated with fund accounting usually include segregating the financial purpose of the fund and establishing budget controls.
There are several different types of fund accountant jobs. A hedge fund accountant is typically responsible for high-risk investments. Mutual fund accountants may focus on the different groups of mutual funds managed by an investment firm. Specialty fund accountants may oversee the performance of funds for a private or public institution. This may include an endowment fund for an academic institution or a pension fund for a government agency.
The hedge fund accountant jobs usually involve valuing assets by tracking the fund’s performance on a quarterly or daily basis. This may assist fund managers with determining how well the fund might perform long-term. A hedge fund accountant may also track the cash flow of the fund and report this information. By analyzing the investment, hedge fund accountants may use this information to make investment recommendations or identify tax obligations associated with the fund.
The duties for a mutual fund accountant is similar to the hedge fund accountant, but with responsibilities specific to a mutual fund. Working for an investment firm that manages mutual funds, the accountant typically reports the activity of the fund. This may include analyzing the yields — returns on investments — produced by the mutual fund. When investors receive distributions from the yields, the mutual fund accountant reports this information to provide an overall picture of performance.
An endowment could be a monetary or property asset for an academic institution such as a private secondary school or university. Normally, fund accountant jobs in this category may require managing the financial transactions from the income generated by the endowment. It is typically the fund accountant’s responsibility to ensure endowment policies at the institution is compliant with approved accounting standards.
Pension funds are often set up by public sector employers as a retirement benefit for employees. The fund accountant might monitor the pension fund’s ability to pay retirees the amount of benefits owed. Typically, the fund accountant may also use this knowledge to determine whether the fund can meet future obligations.
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