Accounting manager career guide

Introduction to a career in accounting management

You started your accounting career quite a while ago, and since then, you have continuously climbed the organizational ladder towards more complex roles. One of the most logical job evolutions after spending several years in the field and broadening your accounting know-how is to become an accounting manager.

They utilize systems and design processes for reporting and analyzing financial facts and figures.

Simply put, accounting managers act as supervisors for other accountants. They utilize systems and design processes for reporting and analyzing financial facts and figures. They also guarantee that the companies they work for are compliant with all the current laws and regulations and suggest business procedure updates to meet additional local or federal requirements.

As opposed to financial managers who oversee the fiscal side of a business over an extended period of time and make cash-flow projections, accounting managers mainly focus on monetary records, taxes, and reports. Still, they have many executive duties and play a key role in depicting an accurate and clear picture of any given company’s past financial performance.

What does an accounting manager do?

Whether they work in a small company, a more notable firm, or even a multinational organization, accounting managers usually have a set of similar responsibilities. Besides tracking economic data, they typically develop the annual budget and come up with financial recommendations for the company’s leaders.

They can anticipate economic evolutions and always keep an eye on the essential macro-trends that may dramatically influence industries or verticals.

Accounting managers have strong business acumen, knowing all the company’s ins and outs, and they are aware of the broader financial context. They can anticipate economic evolutions and always keep an eye on the essential macro-trends that may dramatically influence industries or verticals.

As an accounting manager, your job description may differ depending on your work experience, education level, know-how, and employer. Keep in mind that the bigger the accounting organization you will lead, the more complex your role will be. The number and functions of your direct reports can also influence your primary responsibilities.

What to look for in an accounting manager role

Before accepting a managerial position in accounting, employees usually accrue several years of substantial professional experience in their field. This know-how is generally doubled by earning an accounting degree such as a bachelor’s in accounting and completing other specialized training. A master’s degree can also help prepare future candidates for managerial roles, deepening their knowledge and encouraging them to develop strong delegation skills.

Accounting managers should also plan their organization’s long-term goals, breaking down tasks into smaller steps to divide work responsibilities between accountants in their division.

Besides the numerous industry-related skills, accounting managers should acquire excellent leadership competences and develop strong communication abilities. Since they work closely with other accountants and bookkeepers on a day-to-day basis, accounting managers must oversee their activities and tackle any issues their employees might encounter. They must communicate effectively with their peers, their managers, and company executives to ensure that their organization’s accounting operations run smoothly.

Accounting managers should also plan their organization’s long-term goals, breaking down tasks into smaller steps to divide work responsibilities between accountants in their division. Other current tasks may include:

• Project a company’s long-term financial goals
• Divide work responsibilities and delegate tasks
• Help with periodic financial and control audits
• Analyze and review financial statements to verify accuracy
• Develop employee’s skills by driving a performance culture, setting higher goals, and offering constant training and mentorship
• Collaborate with external or internal auditors to compile reports on an annual basis

What do I need to study to be an accounting manager?

Most executive roles in the field require at least a bachelor’s degree in accounting and multiple years of experience in the field. Earning a master’s degree can help you develop leadership skills, learn management techniques, and prove to be an advantage compared to other candidates. Employers want to know they hire the most capable and skilled professionals, so the more advanced your studies are, the better.

Accounting certifications for exceptional managers

If you want to increase your knowledge and dive deeper into the accounting field, there are several accounting certifications you can earn. For instance, you can choose to become a Certified Public Accountant (CPA) once you successfully pass the exam held by the American Institute of Certified Public Accountants (AICPA).

The most significant credential you could earn in management accounting is the Certified Management Accountant (CMA). This professional certification confirms that you have extensive knowledge of financial control, analysis, and planning, and you can support decision-makers through strategic financial reports.

Another useful credential for accounting managers is Certified Internal Auditor (CIA). After you earn this certification, you will constantly run internal audits to verify compliance and perform quality assurance checks.