Financial reporting and statutory accounts

Original to this reference.

Levels

1. Awareness

You can:

• explain the purpose of the main financial statements
• prepare working papers and reconciliations that support month-end and year-end

2. Working

You can:

• prepare month-end and year-end entries, such as accruals, prepayments, and provisions
• prepare sections of the annual accounts and supporting notes
• apply accounting standards to routine transactions, such as capitalising software and hardware

3. Practitioner

You can:

• prepare the annual accounts and statutory returns to a timetable
• apply accounting standards to complex areas, such as leases, cloud computing arrangements, and intangible assets
• write accounting papers that explain judgements and estimates
• manage the external audit of the accounts and respond to findings

4. Expert

You can:

• own the organisation's annual report and accounts and the accounting policies behind them
• advise the board and audit committee on significant judgements and new standards
• lead the response to qualified audit opinions or material misstatements
• assure that reporting meets public accountability rules

Closest ESCO skills

• prepare financial statements (close match)
• financial statements (close match)
• international financial reporting standards (narrow match)
• ensure compliance with accounting conventions (close match)

Contains ESCO v1.2.1 data (https://esco.ec.europa.eu/). © European Union. Reuse authorised under Commission Decision 2011/833/EU.

Role levels that expect this skill