Accounting Manager
Job Overview
The Accounting Manager oversees the accounting process for assigned entities. and is responsible for budgeting and cash planning, supervising staff, and ensuring that accurate and timely financial statements are prepared. The Accounting Manager works with the Controller during the financial statement review process, coordinates responsibilities, and responds to requests for financial information. Variances for revenue and expenses, company policies and procedures, and accurately and timely customer billing are important areas of focus.
Organizational Impact
The Accounting Manager plays a critical role in the financial management of an organization. They are responsible for overseeing the accounting department and ensuring that financial records are accurate and up-to-date. The impact of this job on the organization can be summarized as follows:
1. Financial Reporting: The Accounting Manager is responsible for preparing financial reports that provide insights into the financial health of the organization. These reports are used by senior management to make strategic decisions and by external stakeholders such as investors and creditors to evaluate the organization's financial performance.
2. Compliance: The Accounting Manager ensures that the organization complies with all relevant accounting standards and regulations. This includes ensuring that financial statements are prepared in accordance with Generally Accepted Accounting Principles (GAAP) and that tax returns are filed accurately and on time.
3. Budgeting and Forecasting: The Accounting Manager plays a key role in the budgeting and forecasting process. They work closely with other departments to develop budgets and forecasts that align with the organization's strategic goals.
4. Risk Management: The Accounting Manager is responsible for identifying and mitigating financial risks. They work closely with other departments to identify potential risks and develop strategies to manage them.
5. Leadership: The Accounting Manager provides leadership to the accounting department and ensures that staff are trained and motivated to perform their roles effectively. They also work closely with other departments to ensure that financial information is shared effectively across the organization.
Overall, the Accounting Manager has a significant impact on the financial management of an organization. They ensure that financial records are accurate, compliant, and provide insights that enable the organization to make informed decisions.
Key Systems
- Accounting software (e.g. QuickBooks, Xero)
- Enterprise resource planning (ERP) software
- Microsoft Excel or Google Sheets
- Payroll software (e.g. ADP, Gusto)
- Financial reporting software (e.g. Tableau, SAP BusinessObjects)
Inputs
- Financial reports and statements
- Budgets and forecasts
- Invoices and receipts
- Payroll and employee benefits information
- Tax laws and regulations
Outputs
- Financial reports and statements
- Budgets and forecasts
- Accounts payable and receivable management
- Payroll processing and tax filings
- Compliance with accounting standards and regulations
Activities
- Review monthly financial statements for assigned entities ensuring accurate and complete work product.
- Prepare and send monthly financial statements
- Coordinate annual budget process
- Train and support staff in using accounting system and proper procedures and accounting methods
- Prepare/Review monthly, quarterly and annual sales tax returns for timely submission
- Research taxability of sales in states as appropriate
- Prepare annual state business reports as required
- Other Duties as assigned
Recommended Items
- Financial statements preparation and analysis
- Budgeting and forecasting
- Accounts payable and receivable management
- Tax compliance and reporting
- Audit preparation and coordination
Content Examples
- Financial statements (balance sheet, income statement, cash flow statement)
- Budget reports and analysis
- Accounts payable and receivable reports
- Tax filings and compliance documentation
- Audit reports and documentation
Sample Event-Driven Tasks
- Review and reconcile bank statements immediately upon receipt
- Prepare and submit monthly financial reports to senior management within 5 business days of month-end close
- Investigate and resolve any discrepancies or errors in financial records as soon as they are identified
- Update and maintain accurate records of all accounts payable and accounts receivable transactions on a daily basis
- Conduct regular audits of financial processes and procedures to ensure compliance with company policies and regulations
Sample Scheduled Tasks
- Review and approve weekly payroll for all employees
- Generate monthly financial statements and distribute to senior management
- Conduct monthly budget variance analysis and report findings to department heads
- Review and approve all accounts payable invoices before payment is processed
- Prepare and file quarterly and annual tax returns with relevant government agencies
Sample Infill Tasks
- Reviewing and approving financial statements and reports
- Developing and implementing accounting policies and procedures
- Managing the accounts payable and accounts receivable processes
- Conducting financial analysis and forecasting
- Ensuring compliance with tax laws and regulations