Fund accounting is the process of accounting for a portfolio of investments such as securities, commodities, and/or real estate held in an investment fund such as a mutual fund or hedge fund. Fund accountants are primarily responsible for all aspects of day-to-day accounting for a group of assigned funds, including calculating/reporting the daily NAV (Net Asset Value) per unit, compiling standard weekly and/or monthly financial statements, and income and expense accruals.

Fund accountants work for organizations that manage funds. Some organizations both manage and sell funds, some just sell funds, and some just manage funds. Fund accountants are not typically employed by firms that just sell funds as their role is primarily related to funding management (e.g., daily calculations of fund values, etc.).