Management & LeadershipAdministrative and commercial managersISCO 1211
accounting manager
Accounting managers assume responsibility for all accounting activities relating to financial reporting. They develop and maintain accounting principles and procedures to ensure timely and accurate financial statements, supervise accounting staff and manage the accounting activities within the appropriate time frame and budget.
About accounting manager
As an accounting manager, you will serve as a guardian of financial integrity and strategic insight within your organization. Your primary responsibility is overseeing all accounting operations, ensuring accurate and timely financial reporting that meets both national and international standards. You will supervise a team of accounting professionals, establish accounting principles and procedures, manage budgets, and provide management with the financial analysis necessary for informed decision-making. Your expertise spans fraud detection, tax legislation, depreciation accounting, and strategic financial planning. In today's complex business environment, accounting managers play a crucial role in ensuring financial transparency, supporting corporate social responsibility initiatives, and positioning organizations for sustainable growth.
Key Work Functions
Core areas of responsibility for a accounting manager.
1
Financial Reporting and Compliance
- Develop and maintain accounting principles and procedures to ensure accurate financial statements
- Ensure compliance with International Financial Reporting Standards (IFRS) and national accounting standards
- Prepare, review, and authorize financial statements for accuracy and timeliness
2
Accounting Operations and Team Management
- Supervise accounting staff and manage accounting activities within appropriate budgets and timelines
- Oversee financial department processes and implement efficient accounting workflows
- Check and verify accounting records for accuracy, completeness, and proper documentation
3
Financial Analysis and Planning
- Conduct financial analysis to support management decision-making and strategic planning
- Support development and monitoring of annual budgets and financial forecasts
- Analyze market financial trends and provide insights for competitive positioning
4
Risk Management and Fraud Prevention
- Implement fraud detection procedures and monitor financial accounts for suspicious activities
- Establish internal controls and enforce financial policies to minimize risk exposure
- Identify and address potential financial and regulatory compliance risks
5
Tax and Accounting Compliance
- Apply national generally accepted accounting principles (GAAP) and tax legislation requirements
- Manage depreciation accounting and ensure proper handling of asset valuations
- Ensure tax compliance and prepare tax documentation according to regulatory requirements
6
Strategic Financial Guidance
- Interpret financial statements and provide strategic insights to senior management
- Integrate strategic foundation in daily accounting performance and decision-making
- Support corporate social responsibility initiatives and ensure ethical financial practices
European Skills Framework
Skills and knowledge areas required for this occupation based on European classification.
Essential (33)
financial department processesfinancial department processesThe different processes, duties, jargon, role in an organisation, and other specificities of the financial department within an organisation. Understanding of financial statements, investments, disclo...financial statementsfinancial statementsThe set of financial records disclosing the financial position of a company at the end of a set period or of the accounting year. The financial statements consisting of five parts which are the statem...international financial reporting standardsinternational financial reporting standardsThe set of accounting standards and rules aimed at companies listed in the stock exchange which are required to publish and disclose their financial statements.financial managementfinancial managementThe field of finance that concerns the practical process analysis and tools for designating financial resources. It encompasses the structure of businesses, the investment sources, and the value incre...fraud detectionfraud detectionThe techniques used to identify fraudulous activities.depreciationdepreciationThe accounting method of dividing the value of an asset over its useful life for the allocation of cost per fiscal year and in parallel to decrease the value of the asset from the accounts of the comp...corporate social responsibilitycorporate social responsibilityThe handling or managing of business processes in a responsible and ethical manner considering the economic responsibility towards shareholders as equally important as the responsibility towards envir...financial analysisfinancial analysisThe process of assessing the financial possibilities, means, and status of an organisation or individual by analysing financial statements and reports in order to make well informed business or financ...accounting entriesaccounting entriesThe financial transactions recorded in accounting systems or books of a company together with the metadata linked to the entry such as the date, the amount, the accounts affected, and a description of...national generally accepted accounting principlesnational generally accepted accounting principlesThe accounting standard accepted in a region or country specifying the rules and procedures to disclose financial data.tax legislationtax legislationTax legislation applicable to a specific area of specialisation, such as import tax, government tax, etc.integrate strategic foundation in daily performanceintegrate strategic foundation in daily performanceReflect on the strategic foundation of companies, meaning their mission, vision, and values in order to integrate this foundation in the performance of the job position.support development of annual budgetsupport development of annual budgetSupport the development of the annual budget by producing base data as defined by the operations budget process.manage budgetsmanage budgetsPlan, monitor, report on the budget and prepare set production budgets.enforce financial policiesenforce financial policiesRead, understand, and enforce the abidance of the financial policies of the company in regards with all the fiscal and accounting proceedings of the organisation.analyse market financial trendsanalyse market financial trendsMonitor and forecast the tendencies of a financial market to move in a particular direction over time.strive for company growthstrive for company growthDevelop strategies and plans aiming at achieving a sustained company growth, be the company self-owned or somebody else's. Strive with actions to increase revenues and positive cash flows.monitor financial accountsmonitor financial accountsHandle financial administration of your department, keep the costs down to only necessary expenses and maximise the revenues of your organisation.interpret financial statementsinterpret financial statementsRead, understand, and interpret the key lines and indicators in financial statements. Extract the most important information from financial statements depending on the needs and integrate this informa...check accounting recordscheck accounting recordsRevise the accounting records of the quarter and year and ensure that the accounting information reflects with accuracy the financial transactions of the company.evaluate budgetsevaluate budgetsRead budget plans, analyse the expenditures and incomes planned during certain period, and provide judgement on their abidance to the general plans of the company or organism.follow the statutory obligationsfollow the statutory obligationsUnderstand, abide by, and apply the statutory obligations of the company in the daily performance of the job.analyse financial performance of a companyanalyse financial performance of a companyAnalyse the performance of the company in financial matters in order to identify improvement actions that could increase profit, based on accounts, records, financial statements and external informati...draft accounting proceduresdraft accounting proceduresLay down standard methods and guidelines to regulate bookkeeping and accounting operations, including determining the bookkeeping system used to record financial transactions.explain accounting recordsexplain accounting recordsProvide additional explanation and disclosure to staff, vendors, auditors, and to any other instance about the way accounts were recorded and treated in the financial records.ensure compliance with accounting conventionsensure compliance with accounting conventionsExercise accounting management and abidance by generally accepted accounting conventions such as recording transactions at the current price, quantifying goods, separating personal accounts of manager...ensure compliance with disclosure criteria of accounting informationensure compliance with disclosure criteria of accounting informationRevise the accounting information of the company to make sure it meets the commonly agreed criteria for its disclosure such as understandability, relevance, consistency, comparability, reliability, an...identify if a company is a going concernidentify if a company is a going concernAnalyse financial statements, financial information and the outlook of the company in order to determine the going concern of the company.manage accountsmanage accountsManage the accounts and financial activities of an organisation, supervising that all the documents are correctly maintained, that all the information and calculations are correct, and that proper dec...supervise accounting operationssupervise accounting operationsCoordinate, commission, and monitor operations in accounting departments in order to ensure the accurate record and eventual reporting of the financial operations of the company.follow company standardsfollow company standardsLead and manage according to the organisation's code of conduct.create a financial plancreate a financial planDevelop a financial plan according to financial and client regulations, including an investor profile, financial advice, and negotiation and transaction plans.accounting department processesaccounting department processesThe different processes, duties, jargon, role in an organisation, and other specificities of the accounting department within an organisation such as bookkeeping, invoices, recording, and taxing.
Optional (29)
bookkeeping regulationsbookkeeping regulationsThe methods and regulations involved in the process of accurate bookkeeping.public financepublic financeThe economic influence of the government, and the workings of government revenue and expenditures.global standards for sustainability reportingglobal standards for sustainability reportingThe global, standardised reporting framework that enable organisations to quantify and communicate about their environmental, social and governance impact.financial forecastingfinancial forecastingThe tool used in performing fiscal financial management to identify revenue trends and estimated financial conditions.liquidity managementliquidity managementThe theory and practices around the management of liquidity in a company with the aim of facilitating meeting obligations with thirds parties without compromising the smooth functioning of the company...statisticsstatisticsThe study of statistical theory, methods and practices such as collection, organisation, analysis, interpretation and presentation of data. It deals with all aspects of data including the planning of ...advise on bankruptcy proceedingsadvise on bankruptcy proceedingsGuide and advise clients on the formalities, procedures and the actions that can ameliorate the losses in case of bankruptcy.inform on fiscal dutiesinform on fiscal dutiesInform organisations and individuals on their specific fiscal duties and the legislation and regulations involving fiscal processes, such as tax duties.advise on tax planningadvise on tax planningAdvise on appropriate strategies to include taxes in the overall financial plan in order to reduce the tax load. Advise on questions related to tax legislation and provide advise on the possible impli...prepare tax returns formsprepare tax returns formsTotalise all the deductible tax collected during the quarter or fiscal year in order to fill tax return forms and claim it back to the governmental authorities for declaring taxation liability. Keep t...liaise with auditorsliaise with auditorsParticipate in discussions with the auditors conducting inspections of the organisation's accounts and inform the managers about the results and conclusions.calculate taxcalculate taxCalculate the taxes which have to be paid by an individual or organisation, or paid back by a governmental institution, compliant with specific legislation.manage staffmanage staffManage employees and subordinates, working in a team or individually, to maximise their performance and contribution. Schedule their work and activities, give instructions, motivate and direct the wor...prepare financial auditing reportsprepare financial auditing reportsCompile information on audit findings of financial statements and financial management in order to prepare reports, point out improvement possibilities, and confirm governability.liaise with financiersliaise with financiersLiaise with people willing to finance the project. Negotiate deals and contracts.prepare financial statementsprepare financial statementsCollect, entry, and prepare the set of financial records disclosing the financial position of a company at the end of a certain period or accounting year. The financial statements consisting of five p...advise on financial mattersadvise on financial mattersConsult, advise, and propose solutions with regards to financial management such as acquiring new assets, incurring in investments, and tax efficiency methods.perform dunning activitiesperform dunning activitiesSend letters or make phone calls to methodically remind individuals about actions they are requested to take by a set deadline. Use a firmer tone as the due date approaches or passes. If there is an a...evaluate employeesevaluate employeesAnalyse employees' individual performances over a certain time span and communicate your conclusions to the employee in question or higher management. Evaluate achievements of staff members.advise on public financeadvise on public financeAdvise public organisations such as governmental organisations on their financial operations and procedures, to ensure optimal efficiency.disseminate information on tax legislationdisseminate information on tax legislationProvide advise on the possible implications for companies or individuals on decisions regarding tax declaration based on tax legislation. Advise on the favourable tax strategies that could be followed...plan health and safety proceduresplan health and safety proceduresSet up procedures for maintaining and improving health and safety in the establishment or workplace.perform cost accounting activitiesperform cost accounting activitiesExecute the cost related activities and operations within the accounting activities such as standard cost development, average pricing analysis, margin and cost ratio analysis, inventory control, and ...manage the general ledgermanage the general ledgerEnter data and revise the adequate maintenance of general ledgers in order to follow up on the financial transactions of the company, and other non routine transactions such as depreciation.perform account allocationperform account allocationAllocate transactions on an account by matching the total value, only a part of it or a group of transactions to the original invoice, and by posting financial information such as discounts, taxes or ...attach accounting certificates to accounting transactionsattach accounting certificates to accounting transactionsCollate and link documents such as invoices, contracts, and payment certificates in order to back up the transactions made in the accounting of the company.liaise with managersliaise with managersLiaise with managers of other departments ensuring effective service and communication, i.e. sales, planning, purchasing, trading, distribution and technical.make strategic business decisionsmake strategic business decisionsAnalyse business information and consult directors for decision making purposes in a varied array of aspects affecting the prospect, productivity and sustainable operation of a company. Consider the o...forecast organisational risksforecast organisational risksAnalyse the operations and actions of a company in order to assess their repercussions, possible risks for the company, and to develop suitable strategies to address these.
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Quick Facts
SectorManagement & Leadership
ISCO GroupAdministrative and commercial managers
Essential Skills33
Core Skills0