What are the qualifications of an accounting manager?

The qualifications of an accounting manager are education, professional experience, and skills. Here are some details on the qualifications of an accounting manager:

• Education

The accounting manager role's education requirements will vary depending on the company, the industry it's in, specialization, and specific position. At the very least, all accounting managers need a bachelor's degree in accounting, finance, or another related field.

They must have knowledge pertaining to fundamental accounting theories and practices, and this can be gained from a bachelor's degree in one of the areas just mentioned. Most bachelor's programs take four years to complete.

Certain employers prefer, or even require, candidates for the accounting manager role to have a master's degree in accounting. Advanced accounting degrees give an individual a foundation of knowledge in advanced accounting areas, such as cost accounting, accounting ethics, fraud examination, and auditing.

A master's degree in accounting may take one to two years to complete, depending on the college or university. Professionals with a master's degree in accounting have specialized expertise and an easier time of eventually landing an accounting manager role.

• Certifications for accounting managers

There are many different certifications someone can obtain to help them gain an accounting manager position. Certifications prove that you are qualified and sometimes possess special knowledge and skills for a specific area of accounting, such as tax preparation, fraud examination, and internal auditing.

Perhaps the most useful certification for those wanting to be an accounting manager is the certified management accountant (CMA) certification.

A CMA is globally recognized as a professional in financial accounting and strategic management. The certification for a CMA is offered by the Institute of Management Accountants (IMA). CMAs are instrumental in a company's financial planning, performance, analytics, and strategic financial management.

The CMA certification primarily focuses on managerial and high-level areas, like risk management, strategic management, investment advice and decisions, and financial planning. Obtaining a CMA is strongly encouraged if you are seeking an accounting manager role or other high-salary positions in accounting.

CMA candidates need at least a bachelor's degree or another professional accounting certification, along with at least two years of professional accounting experience, to apply for the CMA certification. They must also complete and pass parts I and II of the CMA exam. The IMA suggests applicants study for at least 300 hours before taking this test.

CMA holders also must renew their credentials annually. There is a yearly fee and 30 hours of required continuing education to renew this certification each year.

Another helpful one is the certified public accountant (CPA) certification.

A CPA is a tax specialist. CPA certification is offered by the American Institute of Certified Public Accountants (AICPA). CPAs give invaluable counsel on how to reduce the amount of taxes a company or client will owe each year.

Many obtain a CPA certification before a CMA certification; however, this is not a requirement unless you do not meet the educational guidelines of the CMA certification.

• Professional experience

Aspiring accounting managers must have specialized and relevant accounting experience before they can obtain the role at most companies. There are many that start out in lower-level accounting positions, like auditor, accountant, financial analyst, and budget analyst.

Many companies require at least five years of professional accounting or financial experience to be considered for the accounting manager role.

• Accounting manager skills

There are many important skills that qualify an individual for the accounting manager role. These include obvious ones, such as financial analysis, communication, leadership, and problem-solving.

Here are descriptions of some of the essential skills that qualify an accountant manager:

Integrity. Accounting managers must possess the best possible ethics to avoid participation in dishonest or illegal accounting methods. They must exhibit strong values and communicate and instill these values and ethics into their accounting teams as well.

Leadership. Accounting managers' work often involves mediation whenever budgeting disputes occur between different departments at their company. They utilize their leadership skills, abilities, and understanding of their company's workflow and specific products of each department to provide key insights and arrange agreements.

Time management. Accounting managers often have to meet very tight deadlines and keep an extremely well-organized work calendar. They utilize time management skills to attend to many different company priorities. These skills are also used to delegate tasks to subordinates, as well as in scheduling with safety margins in case unforeseen scenarios occur.

Communication. Communication skills come into play often with accounting managers. Supervising accounting team members, interacting with department managers and other senior staff, and overseeing lower-level staff require excellent communication skills.

Accounting managers also need to present ideas and concepts in a logical and persuasive manner to ensure senior officials at the company agree with their solutions or ideas. They also frequently resolve workplace and external conflicts and engage in collaborations or negotiations with vendors and clients.

Flexibility. Accounting managers must remain flexible to make sure they comply with new or developing regulations and standards in the accounting industry. They often collaborate with a range of different professionals with unique personalities and quirks.

They must be able to work with these individuals on cross-functional projects and be mindful of how others inside the company, and outside the company, are taking in and adapting to these developments.