Managers of accounting and financial reporting are responsible for providing a variety of financial and account support for their company and clients. They are responsible for all aspects of the financial reporting, including internal controls and payroll services. Managers of accounting and financial reporting also approve purchasing decisions and maintain records for tax purposes. Additionally, they record cash and card transactions (including keeping receipts), communicate with financial institutions, and arrange bank deposits. These professionals also must keep a file of vendor invoices and monitor accounts receivable.
Other tasks performed by managers of accounting and financial reporting include participating in business development, identifying new opportunities, preparing accurate financial reports, and managing accounting discrepancies to eliminate economic losses. They work effectively with management to prepare budgets, as well as tax forms. They analyze financial data, compare planned budgets and actual expenditures, work close with other business operations, and control managers to facilitate paperwork and increase financial transparency. In addition, They maintain strong relationships with executives within their organization and outside clients. In all tasks, these managers must follow specific accounting guidance set forth by their company, as well as strict regulatory standards.
To be successful in this position, managers of accounting and financial reporting should have strong interpersonal skills, be results oriented, have advanced financial knowledge, and be able to use their leadership abilities to motivate other financial professionals to reach all company objectives. They must also have excellent knowledge of auditing practices and methods. A bachelor's degree in accounting, finance, or a related field is needed for this position. Additional industry and leadership certifications may be preferred.
Manager of Accounting & Financial Reporting Tasks
- Develop, implement, review, and evaluate procedures and policies.
- Hire, train, evaluate, and mentor accounting staff.
- Manage all general ledger transactions and prepare reports and analyses.
- Provide regular and ad hoc reports, forecasts, and tax returns.