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.
Chief accountant responsibilities
Here are examples of responsibilities from real chief accountant resumes:
- 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.
- Manage and monitor accounting procedures for compliance with Sarbanes-Oxley and coordinate and facilitate external audit requirements.
Chief accountant skills and personality traits
We calculated that 13% of Chief Accountants are proficient in External Auditors, Reconciliations, and General Ledger Accounts. They’re also known for soft skills such as Analytical skills, Communication skills, and Detail oriented.
We break down the percentage of Chief Accountants that have these skills listed on their resume here:
- External Auditors, 13%
Worked in close coordination and cooperation with compliance department and external auditors Reviewed affiliated companies transfers, reconciliation and conformity.
- Reconciliations, 10%
Managed Complex reconciliations of income with donor database and multiple bank and investment accounts across parent, supporting and foreign organizations.
- General Ledger Accounts, 9%
Reconciled all general ledger accounts and ensured accuracy of the information.
- Balance Sheet Accounts, 7%
Reviewed and analyzed GL accounts, Balance Sheet accounts reconciliation in addition to prepare month end Journal entries.
- Financial Reports, 5%
Prepared consolidated monthly and annual financial reports, monthly fund requests, and budgeted controller/coordinator expenses.
- Internal Controls, 4%
Streamlined operational and administrative support functions by implementing changes to improve internal controls, save time and increase work productivity.
Most chief accountants use their skills in "external auditors," "reconciliations," and "general ledger accounts" to do their jobs. You can find more detail on essential chief accountant responsibilities here:
Communication skills. Another essential skill to perform chief accountant duties is communication skills. Chief accountants responsibilities require that "accountants and auditors must be able to listen to and discuss facts and concerns from clients, managers, and other stakeholders." Chief accountants also use communication skills in their role according to a real resume snippet: "increased communication skills by providing training to co-workers about wire transfers on fed line advantage. "
Detail oriented. chief accountants are also known for detail oriented, which are critical to their duties. You can see how this skill relates to chief accountant responsibilities, because "accountants and auditors must pay attention to detail when compiling and examining documents." A chief accountant resume example shows how detail oriented is used in the workplace: "perform detail financial analysis of statements and report on variances to the cfo. "
Math skills. For certain chief accountant responsibilities to be completed, the job requires competence in "math skills." The day-to-day duties of a chief accountant rely on this skill, as "accountants and auditors must be able to analyze, compare, and interpret facts and figures." For example, this snippet was taken directly from a resume about how this skill applies to what chief accountants do: "prepare financial progress reports and statistics aiding in the record of financial data to support budget execution and program analysis. "
Organizational skills. A commonly-found skill in chief accountant job descriptions, "organizational skills" is essential to what chief accountants do. Chief accountant responsibilities rely on this skill because "strong organizational skills are important for accountants and auditors, who often work with a range of financial documents for a variety of clients." You can also see how chief accountant duties rely on organizational skills in this resume example: "evaluate and remediate internal controls to ensure ongoing organizational compliance with the sarbanes-oxley act section 404, 302. "
The three companies that hire the most chief accountants are:
- Hyatt Hotels2 chief accountants jobs
- EPAM Systems1 chief accountants jobs
- KONE1 chief accountants jobs
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Compare different chief accountants
Chief accountant vs. Accounting director
An Accounting Director supervises the general accounting and financial reporting functions, as well as financial services within a company or organization. They also ensure that all transactions and financial policies for their organization meet federal regulations and standards.
While similarities exist, there are also some differences between chief accountants and accounting director. For instance, chief accountant responsibilities require skills such as "income statement," "sales tax," "management reports," and "financial management." Whereas a accounting director is skilled in "payroll," "oversight," "sox," and "customer service." This is part of what separates the two careers.
Accounting directors earn the highest salaries when working in the technology industry, with an average yearly salary of $128,951. On the other hand, chief accountants are paid more in the retail industry with an average salary of $56,698.accounting directors tend to reach similar levels of education than chief accountants. In fact, accounting directors are 1.2% less likely to graduate with a Master's Degree and 0.6% less likely to have a Doctoral Degree.Chief accountant vs. Accountant/consultant
Accountants/consultants perform accounting tasks for organizations or companies. The accountants improve accounting practices and prepare financial statements at the end of every year. They analyze financial data and offer advice on regulatory compliance issues to the finance department. It is their job to make sure that the online system is secure. Most of the day, they organize invoices, prepare statements, and supervising systems. They should be equipped with analytical skills, industry knowledge, critical thinking, and interpersonal communication.
In addition to the difference in salary, there are some other key differences worth noting. For example, chief accountant responsibilities are more likely to require skills like "external auditors," "income statement," "cash flow," and "sales tax." Meanwhile, an accountant/consultant has duties that require skills in areas such as "account management," "product knowledge," "strong analytical," and "leveraged." These differences highlight just how different the day-to-day in each role looks.
On average, accountant/consultants earn a higher salary than chief accountants. Some industries support higher salaries in each profession. Interestingly enough, accountant/consultants earn the most pay in the finance industry with an average salary of $68,479. Whereas chief accountants have higher pay in the retail industry, with an average salary of $56,698.Average education levels between the two professions vary. Accountant/consultants tend to reach similar levels of education than chief accountants. In fact, they're 4.9% less likely to graduate with a Master's Degree and 0.6% less likely to earn a Doctoral Degree.What technology do you think will become more important and prevalent for chief accountants in the next 3-5 years?
Terri Walsh
Professor/Program Manager, Accounting, Seminole State College of Florida
Chief accountant vs. General ledger accountant
A general ledger accountant is in charge of ensuring the accuracy of a company's overall accounting processes and information. It is their responsibility to communicate with different departments and officials to gather necessary data, conduct extensive audits, prepare documentation and reports, maintain financial data on the company ledger, and interpret financial information. Furthermore, like a general ledger accountant, it is essential to monitor the progress of accounting processes, all while implementing the company's policies and regulations.
The required skills of the two careers differ considerably. For example, chief accountants are more likely to have skills like "account reconciliations," "accounts payables," "internal audit," and "financial management." But a general ledger accountant is more likely to have skills like "payroll," "accruals," "strong analytical," and "asset system."
General ledger accountants earn the highest salary when working in the technology industry, where they receive an average salary of $68,134. Comparatively, chief accountants have the highest earning potential in the retail industry, with an average salary of $56,698.When it comes to education, general ledger accountants tend to earn similar degree levels compared to chief accountants. In fact, they're 4.4% less likely to earn a Master's Degree, and 0.6% less likely to graduate with a Doctoral Degree.Chief accountant 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.
Types of chief accountant
Updated January 8, 2025
