Chief accountant vs chief finance officer

The differences between chief accountants and chief finance officers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a chief accountant, becoming a chief finance officer takes usually requires More than 10 years. Additionally, a chief finance officer has an average salary of $143,947, which is higher than the $61,481 average annual salary of a chief accountant.

The top three skills for a chief accountant include external auditors, reconciliations and general ledger accounts. The most important skills for a chief finance officer are payroll, CPA, and oversight.

Chief accountant vs chief finance officer overview

	Chief Accountant	Chief Finance Officer
Yearly salary	$61,481	$143,947
Hourly rate	$29.56	$69.21
Growth rate	6%	6%
Number of jobs	52,287	145,184
Job satisfaction	4	-
Most common degree	Bachelor's Degree, 69%	Bachelor's Degree, 72%
Average age	44	52
Years of experience	4	-

What does a chief accountant do?

Chief accountants develop financial strategies, oversee the accounting department, make investment decisions, and develop financial strategies. They provide assistance to departments with their reviews and budgets, tax studies, and internal control. It is part of their job to respond to the accounting questions from time management. They take charge of monitoring and recording financial transactions based on corporate regulations and policies. Also, they recommend changes to the procedures of accounting.

What does a chief finance officer do?

A chief financial officer is responsible for managing and reviewing the financial status of a company. Chief financial officers' duties include ensuring the accuracy of financial reports, monitoring the company's expenses and budget goals, providing recommendations to prevent financial loss and increase revenues, processing the company's tax obligations, and resolving financial disputes. A chief financial officer must have an impeccable knowledge of the financial industry, updated with the current market trend, and strong leadership and decision-making skills to support the organization's financial department.

Chief accountant vs chief finance officer salary

Chief accountants and chief finance officers have different pay scales, as shown below.

	Chief Accountant	Chief Finance Officer
Average salary	$61,481	$143,947
Salary range	Between $43,000 And $87,000	Between $80,000 And $257,000
Highest paying City	New York, NY	Washington, DC
Highest paying state	New York	California
Best paying company	IBM	Baker McKenzie
Best paying industry	Retail	Construction

Differences between chief accountant and chief finance officer education

There are a few differences between a chief accountant and a chief finance officer in terms of educational background:

	Chief Accountant	Chief Finance Officer
Most common degree	Bachelor's Degree, 69%	Bachelor's Degree, 72%
Most common major	Accounting	Accounting
Most common college	University of Pennsylvania	University of Pennsylvania

Chief accountant vs chief finance officer demographics

Here are the differences between chief accountants' and chief finance officers' demographics:

	Chief Accountant	Chief Finance Officer
Average age	44	52
Gender ratio	Male, 57.0% Female, 43.0%	Male, 71.9% Female, 28.1%
Race ratio	Black or African American, 8.2% Unknown, 3.9% Hispanic or Latino, 10.5% Asian, 15.3% White, 61.6% American Indian and Alaska Native, 0.5%	Black or African American, 3.8% Unknown, 3.9% Hispanic or Latino, 7.9% Asian, 7.7% White, 76.1% American Indian and Alaska Native, 0.6%
LGBT Percentage	7%	12%

Differences between chief accountant and chief finance officer duties and responsibilities

Chief accountant example responsibilities.

Manage and monitor accounting procedures for compliance with Sarbanes-Oxley and coordinate and facilitate external audit requirements.
Prepare monthly trial balance, balance sheets, and profit and loss statements according to GAAP.
Prepare monthly account reconciliations (bank reconciliation, accounts receivable reconciliation, accounts payable reconciliation, and general ledger reconciliation).
Research, advise and resolve accounting and business issues, ensuring compliance with U.S. GAAP and head office requirements.
Monitor deposits and withdrawals of revenue and expenses, review payroll, and ensure accurate processing and timely bank reconciliations.
Prepare daily SOX audit documentation, ensuring that bank account activity have been reconcile and to identify any outstanding variances.

Chief finance officer example responsibilities.

Lead management team in developing and executing a combination of pricing and cost savings strategies that improve EBITDA more than threefold.
Lead the consolidation of financial and operational systems for non-acute services including rehabilitation and psychiatry services.
Lead system conversion to Hyperion planning budgeting/forecasting software, responsible for training, developing and implementation.
Manage all firm banking relationships, treasury functions and retain signatory authority for all partnership and corporate accounts.
Lead implementation of new worldwide consolidation system, Hyperion, significantly reducing closing time and improving controls over the consolidation process.
Prepare annual general ledger reconciliations and consolidate financial reports for CPA tax preparation.

Chief accountant vs chief finance officer skills

Common chief accountant skills

External Auditors, 13%
Reconciliations, 10%
General Ledger Accounts, 9%
Balance Sheet Accounts, 7%
Financial Reports, 5%
Internal Controls, 4%

Common chief finance officer skills

Payroll, 7%
CPA, 6%
Oversight, 5%
Financial Reports, 4%
Human Resources, 4%
Internal Controls, 4%

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Chief Accountant vs Chief Finance Officer

Updated January 8, 2025

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