This post provides detailed information on the accounting manager career. It highlights the educational requirements you need to fulfill to become an accounting manager, how to advance your career and be successful in your job, and other information.
Now, let’s begin:
Who is an Accounting Manager?
An accounting manager is a person who manages the accounting activities of an organization, including financial reporting, budgeting, payroll, and other related processes.
Why Choose Accounting Manager Career?
The career field of accounting manager has been growing rapidly in recent years due to the need for qualified professionals with strong analytical skills.
There are many opportunities available for people seeking careers as accounting managers. Here are reasons to consider this career path:
- Salary.
The salary range for an accounting manager is not fixed, it is dependent on a number of factors, including location, education, industry, and experience.
According to the U.S. Bureau of Labor Statistics, BLS, report for 2024, the average annual salary for the accountants and auditors category, which the accounting manager profession falls into is $81,680.
2. Job security.
Many companies have difficulty finding qualified accountants because they do not want to invest time or money training new employees.
However, there are always jobs available for those willing to work hard at learning their job duties.
3. Flexibility.
Accountants may be able to choose which hours they wish to work each day. They may also be able to set up their own schedules without having to follow strict company policies.
4. Growth potential.
As more businesses become computerized, it is likely that the demand for accountants will increase, which can also increase their salary.
5. Work-life balance.
An accountant’s work schedule usually does not require long working days. Instead, most accountants spend much of their time doing administrative tasks such as bookkeeping, preparing reports, and filing paperwork.
Because of this, many accountants find themselves spending less time with family and friends than they did before starting their careers.
Accounting Manager Education Requirements
To qualify for a position as an accounting manager, you must hold a Bachelor’s degree in Business Administration, Finance, Accounting, or in other relevant major.
You may also need additional degrees if you plan to specialize in certain areas of the field.
For example, if you would like to work in public accounting, you may need a Master’s degree in Accounting or a graduate certificate in accounting.
Accounting Manager Continuing Education
If you already have a Bachelor’s or Master’s degree, you may want to take continuing education classes to keep yourself current in your profession.
These courses could include topics such as: financial reporting, auditing, and taxation.
Accounting Manager Certification/License
Certification programs are offered by professional associations. Some certifications are required for employment while others offer benefits, such as higher pay.
To determine whether certification is necessary for your job, you can contact your local chapter of the American Institute of Certified Public Accountants (AICPA).
An accountant license allows you to practice in any state of the country. If you do not currently hold a license, you may apply for one after completing your coursework.
Accounting Manager Career Pathway
You can start your journey to becoming an accounting manager by completing an Associate degree program in Accounting, which is a two-year program.
This will qualify you to work in any of the following entry-level positions:
- Accounts payable specialist
- Credit analyst
- Collections specialist
- Inventory control specialist
- Finance assistant.
After you have worked for a few years in an entry-level role, you would have acquired enough skills and experience to become an accounting manager.
Career Advancement
With more training in specific areas and in leadership, as well as experience, accounting managers can advance their careers to higher management levels.
This includes the following roles:
Controller:
The controller position has different job titles, including:
- Senior controller
- Controller
- Assistant controller
- Controller – operations
- Controller – sales
- Controller – marketing
- Controller – human resources.
Director:
The director level is the highest managerial position available within the accounting department.
It involves managing multiple employees who report directly to the director.
Executive Vice President:
The executive vice president is responsible for overseeing all aspects of the company’s finances.
Their job typically involves performing strategic planning, budgeting, and financial reporting.
Chief Financial Officer:
The chief financial officer of a company is responsible for ensuring the company’s financial goals are met.
In addition to being involved in financial reporting, the CFO also oversees corporate strategy and the overall direction of the firm.
Others senior management position the accounting manager can hold include:
- Partner
- Practice Group Leader
- Senior Associate.
How to Advance your Career as an Accounting Manager
There are many ways by which you can advance your accounting career. Here are some suggestions:
1. Attend conferences and seminars: Attending conferences and seminars can provide opportunities to network with professionals from around the country.
2. Join professional organizations: There are several organizations that focus on accounting. For example, the AICPA offers membership to accountants at every level of experience. The National Association of State Boards of Accountancy provides members with access to networking opportunities and educational events.
3. Take continuing education classes: You should take courses related to your current job responsibilities. They will help you to remain updated on the innovations and trends taking place in your field.
4. Network with colleagues: Ask them about their careers and the part of their job they like best. What would make it easier for them?
5. Keep abreast of industry news. Read newspapers and trade publications. Subscribe to newsletters from various companies.
How to find a Good Accounting Manager School
Here are some tips to help you find a good accounting school:
- Check with your local community college.
Many colleges offer programs in accounting. Some schools also have partnerships with business schools.
2. Look online.
Search for “accounting schools” in Google. You can concentrate your search on degree type, location, and program length by applying the Advanced Search feature.
3. Contact your state’s board of accountancy.
Most states require candidates to pass a test before becoming licensed as an accountant. If you want to become an auditor, contact your state board of accountancy.
4. Talk to people.
Ask friends and family if they know anyone who works in accounting. Someone that works in the accounting field may be able to recommend a good school or program for accounting education.
5. Research the school.
Review the school’s curriculum and accreditation status. Also look into the school’s reputation among former students.
How to be Successful in your Career
These pointers will help you succeed in your accounting manager career:
- Be open-minded: Don’t limit yourself to one area of accounting. Instead, consider taking a variety of courses. This way, you can learn more about different areas of accounting.
2. Stay organized: Make certain that all your job is finished on time. Follow through with assignments. Do not procrastinate.
3. Learn how to manage money: It is important to understand the difference between personal expenses and business expenses. Therefore, know when to use credit cards and when not to, but to pay cash.
4. Develop strong communication skills: Communicate effectively with clients, co-workers, and supervisors.
5. Maintain confidentiality: Never share client or company secrets. Always keep confidential documents under lock and key.
6. Build relationships: Become friendly with other employees. Form friendships outside of work.
What Does an Accounting Manager Do?
The following list describes the duties of an accounting manager:
- Manage financial records: Prepare reports that show how much money each customer owes. Determine whether customers owe taxes.
- Analyze data. Compile statistics. Calculate percentages.
- Perform audits: Verify accuracy of books and records and identify discrepancies.
- Provide advice: Help clients solve problems and offer solutions.
- Plan budgets: Set goals and create strategies.
For a detailed discussion of the accounting manager duties, see: accounting manager job description.
Qualities of a Good Accounting Manager
A good accounting manager should possess these qualities:
- Strong analytical skills: The ability to analyze numbers and understand trends.
- Excellent organizational skills: The ability to plan projects and organize files.
- High level of integrity: Possess honesty, fairness, and trustworthiness.
- Strong interpersonal skills: Possess ability to communicate clearly, listen well, and show empathy.
- Knowledgeable about the industry: Be familiar with current events and knowledgeable of business practices.
Accounting Manager Job Outlook
Those who want to work as an accounting manager will be entering an industry that is rapidly expanding.
The demand for accountants in the U.S. is expected to rise by 10% between 2016 and 2026, according to report by the U.S. Bureau of Labor Statistics (BLS).
Conclusion
The accounting manager career offers a lot of benefits, including good salary, job security, and flexibility.
This post has provided valuable information to help you become an accounting manager, advance your career and be successful.
