In most businesses, an accounting manager develops and implements systems for gathering, analyzing, verifying, and reporting certain types of financial information. Typically, an accounting manager is a part of a larger group (or managerial staff) that includes other mid-level business managers.
Some of the job duties of an accounting manager include hiring, training, and coaching subordinates, as well as enforcing company policies, rules, and procedures. Accounting managers usually complete certain financial objectives such as preparing and regulating annual budgets, scheduling expenditures, and beginning corrective actions when budget problems occur. Also, these types of managers are in charge of keeping track of a business' financial status by closely monitoring revenue, expenses, and future budget changes while evaluating financial data, and they typically prepare reports and charts on finances. An accounting manager also helps guide other departments by applying observations and recommendations to their financial operations. The accounting manager also helps the company avoid legal challenges by understanding current and proposed legislation, enforcing certain financial regulations, and recommending new, efficient procedures. Finally, accounting managers are responsible for updating business information by participating in any educational opportunities that can advance the company's current financial model.
An accounting manager typically has a bachelor's or master's degree in a finance-related degree, as well as experience in the field.
Accounting Manager Tasks
- Manage the daily activities of the accounting department.
- Collect and provide information for audit inquiries and give assistance to auditors.
- Assist in the development and implementation of policies and procedures relating to financial management, budget and accounting.
- Oversee the posting and maintenance of general ledger accounts, payroll transactions, accounts payable and general ledger adjustments.
- Provide financial analysis statements including monthly balance sheets, income statements, cash flows statements, and actual to budget and last year variance analysis.