What Does an Accounting Manager Do?
If you’re considering a career in accounting, you might be wondering what an accounting manager does. Basically, an accounting manager is responsible for overseeing the financial records of a company and making sure they are accurate and compliant with regulations.
If you’re detail-oriented and good with numbers, then a career as an accounting manager could be a great fit for you. Read on to learn more about what an accounting manager does and how to become one.
What Is an Accounting Manager?
Accounting managers are essential personnel in any business environment. They oversee all aspects of the accounting practices within an organization and ensure that transactions are properly documented, accurate records are maintained, financial data is analyzed for informed decision-making, and financial objectives are met.
This role also involves managing staff members, interacting with external service providers, developing and implementing strategic initiatives, staying abreast of current trends and regulations in the accounting industry, and preparing key financial reports on a regular basis. Accounting managers must have strong technical skills as well as excellent communication and people management abilities in order to excel in their roles.
Responsibilities Of An Accounting Manager
An Accounting Manager is responsible for overseeing and managing a company’s financial operations, including budgeting, accounting, and auditing activities. The specific tasks of an Accounting Manager may vary depending on the size and complexity of the organization. However, key responsibilities typically include:
- Developing, implementing and maintaining accounting processes, procedures and systems to ensure the accuracy of financial transactions
- Preparing, analyzing and presenting financial reports to senior management
- Supervising staff such as accountants, bookkeepers and other accounting personnel
- Ensuring compliance with applicable laws and regulations governing financial affairs
- Assisting with budgeting activities and monitoring spending activity
- Collaborating with internal teams, auditors and tax professionals
- Identifying areas for cost containment and improvement in financial processes.
Overall, an Accounting Manager is expected to maintain the accuracy of the organization’s financial records while helping to ensure that its fiscal responsibilities are being met. With a strong eye for detail, problem-solving skills, and awareness of accounting best practices, an Accounting Manager can be a great asset to any organization.
Skills Required To Become An Accounting Manager
- Strong attention to detail
- Problem-solving skills
- Knowledge of accounting best practices
- Strong leadership and supervisory skills
- Excellent communication and interpersonal skills
- Working knowledge of accounting software
- Ability to work under pressure and meet deadlines
- Ability to handle confidential information with discretion
How to Become an Accounting Manager
Becoming an Accounting Manager typically requires a combination of education and experience. Here are the steps one should take to pursue a career in this field:
1. Earn a Bachelor’s Degree
A bachelor’s degree in accounting, finance, or business is generally required for entry-level positions in accounting management. Coursework may include topics such as financial reporting, auditing, taxation, and business law.
2. Obtain Relevant Work Experience
Many employers prefer candidates who have 1-3 years of experience working with accounting principles and systems following graduation. This can include internships during college or full-time employment after graduation.
3. Pursue Professional Certification
Some employers may prefer employees who have professional certification from organizations like the Institute of Management Accountants (IMA) or the American Institute of Certified Public Accountants (AICPA). These certifications demonstrate competency in areas such as financial analysis, budgeting and forecasting, and strategic cost management techniques.
4. Consider Graduate Studies
An MBA with a focus on accounting can give you an edge in the job market when seeking higher-level positions in the field. You may also decide to pursue a master’s degree in accounting that focuses on specific areas such as taxation or organizational behavior if you wish to specialize your skillset further.
5. Ensure You Are Up To Date With Regulatory Changes And Best Practices In The Field With Continuing Education
Continuous learning helps you stay up to date on changes in regulations related to financial management as well as emerging best practices and trends within the industry so that you can maximize value for your organization while staying compliant with all applicable laws and standards.
Accounting and Finance Career Opportunities
Looking for your next accounting or finance career opportunity? Contact Burchard and Associates. We help accounting and finance professionals find career opportunities in the St. Louis area and beyond. Check out our available jobs or contact us today to learn how we can help you with your job search.