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What does an accounting consultant do?

Updated January 8, 2025
8 min read
Quoted expert
Thomas King
What does an accounting consultant do

An Accounting Consultant is a person tasked to assist the accounting department of a company. The consultant advises businesses concerning the accounting system used by the organization. It is also through the accounting consultant's help that improvements in the accounting process are proposed, the determination of problematic areas in the workflow, possible issues in the future, and everything that needs upgrading. The accounting consultant also helps businesses conform to legal policies set about by State and Federal legislation.

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Accounting consultant responsibilities

Here are examples of responsibilities from real accounting consultant resumes:

  • Work independently on line of business projects to automate derivative processes and system enhancement testing.
  • Share oversight for recruitment, human resources and advertising.
  • Provide support to accounts payable department in tagging and recording of fix assets during an ERP system transition
  • Work with governance and internal audit team ensuring SOX compliance during monthly & quarterly reviews as well as the annual audit.
  • Collaborate with accounting department in monthly closing process and development of internal controls to support SOX requirements.
  • Improve audit performance of major medical center by clearing backlog of account reconciliations across multiple medical billing systems.
  • Develop strong relationships with auditors; provide direction and oversight for the annual audit process.
  • Review their accounting systems, research ERP systems and recommend a replacement to their current outdate and outsource accounting system.
  • Reconstruct multiple year general ledgers for tax engagements.
  • Research and resolve discrepancies using PeopleSoft and other financial reports.
  • Test PeopleSoft financial software functionality and review existing business processes.
  • Generate highly detail GAAP financial reports requiring precision and rapid turnaround.
  • Verify transactions in compliance with financial policies, procedures and Sarbanes-Oxley requirements.
  • Analyze and record transactions including the amortization of prepay and accruals and income statement allocation.
  • Audit accounting systems and recommend re-organization of ledgers and sub-ledgers for more accurate financial reporting.

Accounting consultant skills and personality traits

We calculated that 15% of Accounting Consultants are proficient in CPA, GAAP, and Reconciliations. They’re also known for soft skills such as Analytical skills, Communication skills, and Organizational skills.

We break down the percentage of Accounting Consultants that have these skills listed on their resume here:

  • CPA, 15%

    Tutored students in Accounting, Finance, and CPA Exam prep (also tutored Spanish and Music Theory students).

  • GAAP, 11%

    Assisted privately-held company with necessary GAAP Financial Statement Conversion and SEC reporting in preparation for public filing.

  • Reconciliations, 8%

    Led several projects which successfully automated monthly account reconciliations for over 330 equity and 35 International Premium Tax General Ledger accounts.

  • ERP, 4%

    Designated as Principal Consultant responsible for reviewing accounting practices and leading post-implementation and integration of ERP and CRM systems.

  • Shared Services, 4%

    Selected to direct domestic and global team of 17 for monthly close of Shared Services department.

  • SOX, 4%

    Collaborated with accounting department in monthly closing process and development of internal controls to support SOX requirements.

Most accounting consultants use their skills in "cpa," "gaap," and "reconciliations" to do their jobs. You can find more detail on essential accounting consultant responsibilities here:

Communication skills. Another essential skill to perform accounting consultant duties is communication skills. Accounting consultants responsibilities require that "accountants and auditors must be able to listen to and discuss facts and concerns from clients, managers, and other stakeholders." Accounting consultants also use communication skills in their role according to a real resume snippet: "managed payments, wire transfers, reporting, intradepartmental communications, & vendor relations. "

Organizational skills. accounting consultants are also known for organizational skills, which are critical to their duties. You can see how this skill relates to accounting consultant responsibilities, because "strong organizational skills are important for accountants and auditors, who often work with a range of financial documents for a variety of clients." An accounting consultant resume example shows how organizational skills is used in the workplace: "employed as a consultant providing accounting, organizational management, financial process improvement, and fraud and forensic accounting investigative services. "

Detail oriented. For certain accounting consultant responsibilities to be completed, the job requires competence in "detail oriented." The day-to-day duties of an accounting consultant rely on this skill, as "accountants and auditors must pay attention to detail when compiling and examining documents." For example, this snippet was taken directly from a resume about how this skill applies to what accounting consultants do: "perform a/p and a/r duties for vendors and receivables with strong attention to detail. "

Math skills. Another crucial skill for an accounting consultant to carry out their responsibilities is "math skills." A big part of what accounting consultants relies on this skill, since "accountants and auditors must be able to analyze, compare, and interpret facts and figures." How this skill relates to accounting consultant duties can be seen in an example from an accounting consultant resume snippet: "conducted quantitative analysis of financial data to prepare annual fiscal year forecasts. "

See the full list of accounting consultant skills

The three companies that hire the most accounting consultants are:

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Compare different accounting consultants

Accounting consultant vs. Manager/finance accounting

A manager of finance accounting's role is to oversee the financial activities in a company or organization. Their responsibilities revolve around coordinating with other departments to gather financial data, analyze the revenues and expenditures, and develop written reports and presentations. A manager of finance accounting must also maintain accurate financial records, identify any errors or inconsistencies, and perform support tasks for staff when necessary. Furthermore, as a manager, it is essential to lead and encourage the team, all while implementing the company's policies and regulations.

The annual salary of managers/finance accounting is $28,485 higher than the average salary of accounting consultants.While their salaries may differ, the common ground between accounting consultants and managers/finance accounting are a few of the skills required in each roleacirc;euro;trade;s responsibilities. In both careers, employee duties involve skills like cpa, gaap, and reconciliations.

These skill sets are where the common ground ends though. The responsibilities of an accounting consultant are more likely to require skills like "real estate," "gap analysis," "pivot tables," and "process reengineering." On the other hand, a job as a manager/finance accounting requires skills like "customer service," "due diligence," "treasury," and "hyperion." As you can see, what employees do in each career varies considerably.

Managers/finance accounting earn the highest salaries when working in the government industry, with an average yearly salary of $92,198. On the other hand, accounting consultants are paid more in the manufacturing industry with an average salary of $68,965.The education levels that managers/finance accounting earn slightly differ from accounting consultants. In particular, managers/finance accounting are 2.7% more likely to graduate with a Master's Degree than an accounting consultant. Additionally, they're 0.0% more likely to earn a Doctoral Degree.

Accounting consultant vs. Senior accountant analyst

As a senior accountant analyst, your main role is to provide professional guidance to a company. You need to have excellent preparation skills to create financial reports that clearly state the expenses and forecast the company's financial future. You should always aim for accuracy and compliance. Moreover, as a senior accountant analyst, you are supposed to give general operational assistance to the company's management.

On average, senior accountant analysts earn a $12,452 higher salary than accounting consultants a year.While the salary may differ for these jobs, they share a few skills needed to perform their duties. Based on resume data, both accounting consultants and senior accountant analysts have skills such as "gaap," "reconciliations," and "erp. "

In addition to the difference in salary, there are some other key differences worth noting. For example, accounting consultant responsibilities are more likely to require skills like "cpa," "shared services," "payroll processing," and "gap analysis." Meanwhile, a senior accountant analyst has duties that require skills in areas such as "payroll," "strong analytical," "treasury," and "financial performance." These differences highlight just how different the day-to-day in each role looks.

On average, senior accountant analysts earn a higher salary than accounting consultants. Some industries support higher salaries in each profession. Interestingly enough, senior accountant analysts earn the most pay in the finance industry with an average salary of $89,199. Whereas accounting consultants have higher pay in the manufacturing industry, with an average salary of $68,965.Average education levels between the two professions vary. Senior accountant analysts tend to reach similar levels of education than accounting consultants. In fact, they're 1.6% less likely to graduate with a Master's Degree and 0.0% more likely to earn a Doctoral Degree.

What technology do you think will become more important and prevalent for accounting consultants in the next 3-5 years?

Thomas King

Department Chair, Director, Master of Accountancy Program, Professor, Accountancy, Case Western Reserve University

I believe critical thinking will be more important than knowledge of any particular technology. Critical thinking means forming defensible conclusions with limited data. As jobs evolve with increasing automation and off-shoring levels, the importance of critical thinking in entry-level employment will rise.

Accounting consultant vs. Senior staff accountant

A senior staff accountant is responsible for managing the accounting operations of the company's accounting department, reconciling accounts, and finalizing financial reports to discuss with the management. Senior staff accountants resolve account discrepancies, analyze the company's financial status, and verify financial transactions. They must have excellent analytical skills and extensive knowledge of the accounting principles to perform accounting duties that would minimize the financial risk of the company. A senior staff accountant provides strategic recommendations to prevent overspending and increase efficiency across all departments to drive more revenues and profits.

An average senior staff accountant eans a higher salary compared to the average salary of accounting consultants. The difference in salaries amounts to senior staff accountants earning a $2,189 higher average salary than accounting consultants.By looking over several accounting consultants and senior staff accountants resumes, we found that both roles require similar skills in their day-to-day duties, such as "cpa," "gaap," and "reconciliations." But beyond that, the careers look very different.

The required skills of the two careers differ considerably. For example, accounting consultants are more likely to have skills like "shared services," "gap analysis," "internal audit," and "pivot tables." But a senior staff accountant is more likely to have skills like "strong analytical," "excellent organizational," "quickbooks," and "sage."

Senior staff accountants make a very good living in the professional industry with an average annual salary of $67,353. On the other hand, accounting consultants are paid the highest salary in the manufacturing industry, with average annual pay of $68,965.When it comes to education, senior staff accountants tend to earn similar degree levels compared to accounting consultants. In fact, they're 3.7% less likely to earn a Master's Degree, and 0.0% less likely to graduate with a Doctoral Degree.

Accounting consultant vs. Senior cost accountant

A senior cost accountant is an individual who maintains detailed costs in a company's system and provides cost analysis that supports operations and sales. Senior cost accountants are required to review inventory and deal with manufacturing personnel to control and analyze standard costs. They must record cost information to be used in controlling expenditures as well as recommend cost efficiencies in new product layouts. Senior cost accountants must also provide reports that specify and compare factors affecting prices and profitability of products or services to the management.

Senior cost accountants typically earn higher pay than accounting consultants. On average, senior cost accountants earn a $2,994 higher salary per year.According to resumes from accounting consultants and senior cost accountants, some of the skills necessary to complete the responsibilities of each role are similar. These skills include "gaap," "reconciliations," and "sox. "While some skills are required in each professionacirc;euro;trade;s responsibilities, there are some differences to note. "cpa," "erp," "shared services," and "balance sheet reconciliations" are skills that commonly show up on accounting consultant resumes. On the other hand, senior cost accountants use skills like sr, margin analysis, ppv, and inventory valuation on their resumes.senior cost accountants enjoy the best pay in the health care industry, with an average salary of $74,446. For comparison, accounting consultants earn the highest salary in the manufacturing industry.senior cost accountants reach similar levels of education compared to accounting consultants, in general. The difference is that they're 1.5% more likely to earn a Master's Degree, and 0.0% more likely to graduate with a Doctoral Degree.

Types of accounting consultant

Updated January 8, 2025

Zippia Research Team
Zippia Team

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

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