Fund Accountants are employed in the Funds Industry. Their main responsibility is to calculate the Net Asset Values (NAVs) of the funds under administration. There are many steps towards calculating a NAV, and there are several other aspects to the job. Steps towards calculating a NAV include the following.

The Fund Accountant needs to maintain the list of investments made by the Investment Manager on behalf of the fund, and updating the list to take account of purchases and sales of investments and Corporate Actions (e.g. Mergers and Acquisitions, Spin Offs, Rights Issues, Stock Splits etc.).

They also need to price the assets held by each fund for each dealing day. The dealing days for a particular fund will be decided by the fund's promoter when the fund is established. Some are priced daily, some are weekly and others are monthly. Other timelines can be used such as quarterly, but these tend to be in the minority.

The Fund Accountant also needs to account for all Subscriptions and Redemptions on the fund. This information is supplied by the Transfer Agent.

All Fees and Expenses need to be reflected in the fund as part of the NAV calculation. All dividends accruing or paid to the fund is also reflected on the fund. This is also a function of the Fund Accountant.

The above are the primary day to day responsibilities of a Fund Accountant. However, there are several other tasks that need to be completed. Some of these include:

• Maintaining Cash and Holdings reconciliations. This is a key risk control function that is an essential part of the Fund Accountant's job.
• Publishing the Net Asset Value for each fund to various publications, such as the Financial Times, Bloomberg and other financial publications as requested by the fund promotor. The NAVs are also sent directly to the client.
• Preparing Interim and Annual Accounts. This also includes liaising with the funds' auditors.
• Dealing with client requests and other ad hoc queries.