The following article discusses the career path of Accounting Manager. Learn about how to become one, education requirements, job duties, traits and qualities, national salary outlook as well as top national employers of Accounting Managers.
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Accounting Manager Job Duties
In the majority of businesses, accounting managers develop and put in place systems that gather, verify, analyze, and report on financial information. Usually, they head a department of other financial staff members, over whom they have line management responsibilities.
There main goal is to ensure the financial status of the organization is properly monitored and kept healthy. They create charts and reports on this, which are then shared with senior managers. They also work together with other departments to ensure their financial operations are in order.
Accounting managers also focus on compliance, ensuring that the organization complies with all relevant legislation, rules, and regulations. In so doing, they help the business avoid significant legal challenges and litigation. This also means keeping their knowledge up to date at all times in relation to new regulations.
Other job duties of an accounting manager include:
- Being responsible for the processing and maintenance of payroll transactions, the general ledger, and accounts payable
- Creating statements of financial analysis, including income statements, monthly balance sheets, actual to budget, cash flow statements, and last year variance analysis
- Helping to develop and put in place policies and procedures that accounting, budget, and financial management staff must adhere to
- Managing the overall accounting department
- Assisting in audits
Where Accounting Manager’s Work
According to the U.S. Bureau of Labor Statistics, there were 1.4 million accountants and auditors in 2016. The largest employers of these professionals were:
- Accounting, tax preparation, bookkeeping, and payroll services: 25%
- Government: 8%
- Finance and insurance: 8%
- Management of companies and enterprises: 7%
- Self-employed workers: 7%
How to Become an Accounting Manager
Accounting managers usually hold a bachelor’s degree in accounting or a finance related field, although many have a master’s or MBA degree. They also need to have several years’ work experience. See 25 Most Affordable Online MBA Programs for 2018.
Accounting Manager Education Requirements
A bachelor’s degree is usually the minimum requirement, with a major in accounting, finance, or related field. Those with a master’s degree are usually in higher demand, particularly those with the master’s in business administration (MBA) with an accountancy concentration.
If accounting managers need to file reports with the Securities and Exchange Commission (SEC), they must be a Certified Public Accountant (CPA). This means that they have to complete education beyond their bachelor’s degree and pass the CPA exam. Most accounting managers are expected to be a CPA, which is why most have the master’s degree as this enables them to meet and exceed the 150 semester hours of coursework requirement for the certification examination. The CPA examination is offered by the American Institute for Certified Public Accountants (AICPA). CPA certification must be maintained through continuous education.
Other certifications can also be beneficial for someone working as an accounting manager, including:
- Certified Management Accountant (CMA) offered by the Institute of Management Accountants
- Certified Internal Auditor (CIA) offered by the Institute of Internal Auditors (IIA)
- Certified in Control Self-Assessment (CCSA) offered by the IIA
- Certified Government Auditing Professional (CGAP) offered by the IIA
- Certified Financial Services Auditor (CFSA) offered by the IIA
- Certification in Risk Management Assurance (CRMA) offered by the IIA
- Certified Information Systems Auditor (CISA) offered by the Information Systems Audit and Control Association (ISACA)
- CPA Accredited in Business Valuation (ABV) offered by AICPA
- CPA Certified Information Technology Professional (CITP) offered by AICPA
- CPA Personal Financial Specialist (PFS) offered by AICPA
Accounting managers usually start their career at an entry level position and then grow into supervisory roles, becoming managers and eventually even partners. Some start as junior internal auditors or cost accountants, for instance, rising through the organization over time. It is also common for accounting managers to move between internal auditing and management accounting so that they get more varied experiences.
Accounting Manager Traits & Qualities
The most effective accounting managers have the following traits to some degree or other:
- Strong analytical skills
- Excellent communication skills, both verbal and written
- Detail oriented
- Excellent mathematical skills
- Strong organizational skills
Accounting Manager Minimum Education
Bachelor’s Degree
The national average salary estimate for Accounting Manager was $81,709. This number is estimated from over 5,411,624 employees, users past and present job advertisements from Indeed.com. This equates to an hourly salary of $42.56 and monthly of $6,809.
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$27,000
$165,000
The following section lists Accounting Manager salaries in each state around the country. The figures are based on the total number of job postings through Indeed.com. For example, DC had the largest quoted salary of $97,625 while Wyoming had the smallest quoted salary of $54,082.
According to Indeed.com, the following states had employers looking to hire a Accounting Manager. The quoted salary figure represents the average salary from all job postings by this employer.
| Employer Name | Location | Average Salary |
|---|---|---|
| Asset Manager | Connecticut | $200,000 |
| Gas Unlimited | New Jersey | $200,000 |
| Gateway Recruiting | Massachusetts | $159,086 |
| Wilben Search Group | New Jersey | $150,000 |
| Grant/Morgan Associates | DC | $150,000 |
| FP | Washington | $150,000 |
| Accounting Career Network | Georgia | $149,668 |
| Alexander Bec | Connecticut | $149,044 |
| JWM Group, LLC | Connecticut | $145,790 |
| Huxley Associates | Massachusetts | $141,232 |
| Pascale & LaMorte | New York | $140,574 |
| The Sylgar Group, LLC | Connecticut | $139,407 |
| Kforce Finance and Accounting | Delaware | $136,222 |
| Executive Search Partners | Michigan | $135,379 |
| Career Evolutions | Arizona | $134,662 |
| Michael Page | Maine | $134,539 |
| Alliance Resource Group | Texas | $131,799 |
| Murdock Martell | California | $130,786 |
| Alexander Bec Corporate Recruiters, LLC | Connecticut | $130,675 |
| Elite Placement Group | Connecticut | $130,527 |
Accounting Manager Learn More
- Account manager – Wikipedia
- Accountants and Auditors : Occupational Outlook Handbook …
- Why Get an Accounting Degree?
- Salary Outlook with Accounting Degree
| Career Name | Average Salary |
|---|---|
| Information Technology Manager | $83,668 |
| Revenue Manager | $83,304 |
| Project Director | $82,923 |
| Business Systems Analyst | $82,655 |
| Forensic Accountant | $82,160 |
| Procurement Manager | $81,418 |
| Healthcare Manager | $81,093 |
| Director of Communications | $81,076 |
| Project Manager | $80,833 |
| Program Analyst | $78,849 |
