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Accounting Manager
2 months ago
- Establish and Monitor Financial Systems: Create, monitor, and evaluate financial systems within their organizations. Collect, analyze, verify, and report financial information to document firms' financial performance and position companies to make well-informed financial decisions.
- Meet Financial Objectives: Recommend forecasting requirements, draft annual budgets, and project expenditures to prepare periodic statements and meet financial regulatory requirements. Analyze general ledger variances and suggest corrective action for management's approval to meet annual accounting financial objectives.
- Achieve Operational Objectives: Develop action plans, audit operations, and propose efficiency improvements. Lead the accounting team to provide accurate, timely data and recommendations.
- Monitor Revenue and Expenses: Ensures companies' financial wellbeing by tracking revenue and expenses, consolidating and analyzing financial data, preparing special reports, maintaining internal controls and other best practices, and reporting activity to internal and external customers.
Key Hard Skills for Accounting Managers
Financial Statement Preparation:Accounting manager prepares financial statements, which provide insights into the financial health of a company. These insights allow businesses to make strategic decisions about resource allocation.
Microsoft Excel: Leverage Microsoft Excel to streamline data. Some duties include automating repetitive tasks, creating financial models, and streamlining data analysis.
Knowledge of U.S. GAAP: Accounting manager must understand GAAP and its implications. For instance, GAAP guides the recording and preparation of financial statements, ensuring they are accurate and complete. GAAP standards also guarantee disclosures properly describe a firm's financial position and performance.
Financial Close Experience: Financial close completes all financial transactions for the month, quarter, or year to ensure financial statements accurately represent the reporting period. The financial close process also uncovers errors or discrepancies recorded in the financial statements before publication.
Key Soft Skills for Accounting Managers
- Management: Plan and organize work, set priorities, and delegate tasks. Communicate effectively with team members to resolve conflicts and make decisions aligned with company priorities.
Communication: simplify complex financial concepts, build relationships with key stakeholders, and prepare concise financial reports that accurately reflect organizations' financial health.
Eye for Detail: Accounting manager must accurately track and record financial transactions, using a keen eye for detail to find and correct discrepancies. This information helps companies make important financial and operational decisions. Thus, it is essential that financial transactions and reports are accurate.
Organizational Skills: Track and prioritize ongoing projects and tasks. Effectively launch, monitor, and evaluate accounting operations and deliverables.