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Become A Director Of Accounting & Finance

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Working As A Director Of Accounting & Finance

  • Making Decisions and Solving Problems
  • Getting Information
  • Analyzing Data or Information
  • Processing Information
  • Communicating with Supervisors, Peers, or Subordinates
  • Deal with People

  • Mostly Sitting

  • Make Decisions

  • $139,520

    Average Salary

What Does A Director Of Accounting & Finance Do

Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization.

Duties

Financial managers typically do the following:

  • Prepare financial statements, business activity reports, and forecasts
  • Monitor financial details to ensure that legal requirements are met
  • Supervise employees who do financial reporting and budgeting
  • Review company financial reports and seek ways to reduce costs
  • Analyze market trends to maximize profits and find expansion opportunities
  • Help management make financial decisions

The role of the financial manager, particularly in business, is changing in response to technological advances that have substantially reduced the amount of time it takes to produce financial reports. Financial managers’ main responsibility used to be monitoring a company’s finances, but they now do more data analysis and advise senior managers on ways to maximize profits. They often work on teams, acting as business advisors to top executives.

Financial managers also do tasks that are specific to their organization or industry. For example, government financial managers must be experts on government appropriations and budgeting processes, and healthcare financial managers must know about topics in healthcare finance. Moreover, financial managers must be knowledgeable about special tax laws and regulations that affect their industry.

The following are examples of types of financial managers:

Chief financial officers (CFOs) are accountable for the accuracy of a company’s or organization’s financial reporting, especially among publicly traded companies. As head of a company’s entire financial department, they manage the lower level financial managers. They oversee the company’s financial goals, objectives, and budgets.

Controllers direct the preparation of financial reports that summarize and forecast the organization’s financial position, such as income statements, balance sheets, and analyses of future earnings or expenses. Controllers also are in charge of preparing special reports required by governmental agencies that regulate businesses. Often, controllers oversee the accounting, audit, and budget departments of their organization.

Treasurers and finance officers direct their organization’s budgets to meet its financial goals. They oversee the investment of funds and carry out strategies to raise capital (such as issuing stocks or bonds) to support the firm’s expansion. They also develop financial plans for mergers (two companies joining together) and acquisitions (one company buying another).

Credit managers oversee their firm’s credit business. They set credit-rating criteria, determine credit ceilings, and monitor the collections of past-due accounts.

Cash managers monitor and control the flow of cash that comes in and goes out of the company to meet the company’s business and investment needs. For example, they must project cash flow (amounts coming in and going out) to determine whether the company will have a shortage or surplus of cash. 

Risk managers control financial risk by using strategies to limit or offset the probability of a financial loss or a company’s exposure to financial uncertainty. Among the risks they try to limit are those that stem from currency or commodity price changes.

Insurance managers decide how best to limit a company’s losses by obtaining insurance against risks, such as the need to make disability payments for an employee who gets hurt on the job or the costs imposed by a lawsuit against the company.

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How To Become A Director Of Accounting & Finance

Financial managers typically have a bachelor’s degree and 5 years or more of experience in another business or financial occupation, such as an accountant, securities sales agent, or financial analyst.

Education

A bachelor's degree in finance, accounting, economics, or business administration is often the minimum education needed for financial managers. However, many employers now seek candidates with a master’s degree, preferably in business administration, finance, or economics. These academic programs help students develop analytical skills and learn financial analysis methods and software.

Licenses, Certifications, and Registrations

Professional certification is not required, but some financial managers still get it to demonstrate a level of competence. The CFA Institute confers the Chartered Financial Analyst (CFA) certification to investment professionals who have at least a bachelor’s degree, 4 years of work experience, and pass three exams. The Association for Financial Professionals confers the Certified Treasury Professional credential to those who pass an exam and have a minimum of 2 years of relevant experience.

Work Experience in a Related Occupation

Financial managers usually have experience in another business or financial occupation. For example, they may have worked as a loan officer, accountant, securities sales agent, or financial analyst. 

In some cases, companies provide formal management training programs to help prepare highly motivated and skilled financial workers to become financial managers.

Important Qualities

Analytical skills. Financial managers increasingly are assisting executives in making decisions that affect their organization, a task which requires analytical ability.

Communication skills. Excellent communication skills are essential because financial managers must explain and justify complex financial transactions.

Detail oriented. In preparing and analyzing reports such as balance sheets and income statements, financial managers must be precise and attentive to their work in order to avoid errors.

Math skills. Financial managers must be skilled in math, including algebra. An understanding of international finance and complex financial documents also is important.

Organizational skills. Financial managers deal with a range of information and documents and so they must stay organized to do their jobs effectively.

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Director Of Accounting & Finance jobs

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Average Length of Employment
Controller 5.0 years
Plant Controller 4.6 years
Chief Accountant 4.5 years
Accounting Manager 4.3 years
Finance Director 3.9 years
Finance Controller 3.8 years
Accounting Officer 3.7 years
Group Controller 3.7 years
Finance Manager 3.7 years
Finance Supervisor 3.5 years
Unit Controller 3.5 years
Finance Executive 3.1 years
Finance Leader 3.1 years
Reporting Manager 3.1 years
Interim Controller 1.3 years
Top Employers Before
Controller 13.4%
Accountant 4.2%
Manager 2.5%
Top Employers After
Controller 14.1%
Consultant 4.3%
Director 3.1%
Accountant 2.2%
President 2.1%
Owner 1.5%

Director Of Accounting & Finance Demographics

Gender

Male

65.0%

Female

32.7%

Unknown

2.3%
Ethnicity

White

78.9%

Hispanic or Latino

9.4%

Asian

8.9%

Unknown

1.7%

Black or African American

1.1%
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Languages Spoken

Spanish

43.2%

Japanese

9.1%

Portuguese

6.8%

Chinese

6.8%

Mandarin

6.8%

German

4.5%

French

4.5%

Turkish

2.3%

Albanian

2.3%

Catalan

2.3%

Hindi

2.3%

Urdu

2.3%

Arabic

2.3%

Italian

2.3%

Russian

2.3%
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Director Of Accounting & Finance Education

Schools

University of Phoenix

13.7%

Northeastern University

8.5%

George Washington University

6.8%

University of California - Berkeley

5.1%

University of Denver

5.1%

New York University

4.3%

Baruch College of the City University of New York

4.3%

Pace University - New York

4.3%

Middle Tennessee State University

4.3%

University of Pennsylvania

4.3%

University of Southern California

4.3%

University of Florida

4.3%

University of Central Florida

4.3%

Sacred Heart University

4.3%

Indiana University Bloomington

4.3%

Florida State University

4.3%

Michigan State University

3.4%

University of Texas at San Antonio

3.4%

Temple University

3.4%

Pennsylvania State University

3.4%
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Majors

Accounting

43.4%

Business

29.4%

Finance

14.8%

Management

2.8%

Marketing

1.1%

Computer Information Systems

0.8%

Management Information Systems

0.8%

International Business

0.6%

Taxation

0.6%

Computer Science

0.6%

Accounting And Computer Science

0.6%

Human Resources Management

0.6%

Economics

0.6%

Legal Research And Advanced Professional Studies

0.5%

Education

0.5%

Nursing

0.5%

Real Estate

0.5%

Liberal Arts

0.5%

Sociology

0.5%

Management Science

0.3%
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Degrees

Bachelors

45.9%

Masters

42.6%

Other

7.1%

Certificate

1.9%

Doctorate

1.5%

Associate

0.7%

License

0.1%

Diploma

0.1%
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Job type you want
Full Time
Part Time
Internship
Temporary

Real Director Of Accounting & Finance Salaries

Job Title Company Location Start Date Salary
Director of International Accounting and Financial Fried, Frank, Harris, Shriver & Jacobson LLP New York, NY Sep 15, 2012 $450,000 -
$650,000
Director Finance & Accounting (Corrugator Division Pratt Industries, Inc. (F/K/A Pratt Industries (Us Conyers, GA Mar 20, 2014 $245,000 -
$295,000
Director Finance Accounting Siemens Industry, Inc. Norcross, GA Sep 23, 2016 $199,134
Senior Director, Accounting & Finance Accretive Solutions-Northern California, Inc. Mountain View, CA Jun 04, 2015 $185,000
Director of Financial Reporting and Accounting Sunedison, Inc. San Francisco, CA Oct 01, 2014 $180,000
Director of Finance and Accounting Anaplan Inc. San Francisco, CA Nov 11, 2014 $180,000
Director of Financial Accounting Barclays Global Investors, N.A. San Francisco, CA Oct 01, 2009 $163,064
Director of Accounting and Finance 27 Plaza Corp. Miami, FL Sep 18, 2014 $156,000
Director of Finance and Accounting Nitro PDF, Inc. San Francisco, CA Apr 04, 2012 $150,494
Director of Financial Accounting & External Reporting ECO-Bat America, LLC Dallas, TX Aug 08, 2016 $150,000
Director of Accounting and Financial Reporting Phoenix Technologies Ltd. Milpitas, CA Feb 15, 2013 $150,000
Director, Finance & Accounting ?What If! USA Limited New York, NY Feb 19, 2016 $147,805 -
$150,000
Director, Accounting & Finance Novel Laboratories, Inc. Somerset, NJ Nov 14, 2014 $142,002 -
$160,000
Director, Financial Accounting Family Health International Durham, NC Nov 30, 2015 $140,000 -
$155,000
Director of Finance & Accounting Gunpowder & Sky, LLC Los Angeles, CA Jul 11, 2016 $125,000
Director of Finance and Accounting Wafra Capital Partners Inc. New York, NY Jun 19, 2013 $125,000
Director-Accounting & Finance Controls Atlas Oil Company Taylor, MI Feb 23, 2015 $125,000
Director of Finance and Accounting Colony South Properties, Inc. Clinton, MD May 31, 2016 $121,900
DIR. Finance & Accounting Nitro PDF, Inc. San Francisco, CA Mar 25, 2010 $120,000
Director of Accounting and Finance Edgewater Management Services LLC ( Miami, FL May 23, 2016 $120,000
Director In Accounting & Finance Dept United Merchant Services, Inc. South Hackensack, NJ Oct 01, 2010 $120,000
Director of Finance & Accounting Paradoxal, Inc. New York, NY Sep 15, 2016 $108,118
Director of Finance and Accounting Wafra Investment Advisory Group, Inc. New York, NY Jul 25, 2011 $105,000
Director of Finance/Accounting 3Q Digital, Inc. San Mateo, CA Jul 11, 2014 $105,000
Director of Finance & Accounting Borelli Motor Sports, Inc. San Jose, CA Aug 25, 2014 $105,000
Director, Financial Accounting MacQuarie Aircraft Leasing Services (Us) Inc. San Francisco, CA Sep 21, 2015 $103,106 -
$130,000
Accounting and Financial Control Director Boiron, Inc. Newtown, PA Jul 16, 2012 $100,422
Director of Finance & Accounting Zestful Management Corp. New York, NY Sep 10, 2013 $98,000

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Top Skills for A Director Of Accounting & Finance

MonthlyFinancialStatementsExternalAuditorsPayrollAssetsGeneralLedgerGaapAnnualBudgetAccountReconciliationsIncomeStatementBalanceSheetInternalControlsFinancialReportsJournalEntriesHumanResourcesFinancialAnalysisDueDiligenceBusinessUnitERPAnnualAuditFinancialPerformance

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Top Director Of Accounting & Finance Skills

  1. Monthly Financial Statements
  2. External Auditors
  3. Payroll
You can check out examples of real life uses of top skills on resumes here:
  • Prepared monthly financial statements, annual budgets, and performed financial analysis.
  • Prepared financial statements and supporting documentation for external auditors.
  • Developed and implemented accounting policies for cash management, monthly accounting reconciliations and payroll systems.
  • Provide Human Resource Administrative support, compliance, employee insurance and benefits, protection of company assets.
  • Developed a customized financial reporting system which successfully integrated three dissimilar general ledgers.

Top Director Of Accounting & Finance Employers

Director Of Accounting & Finance Videos

A Day in the Life of a Financial Controller at ANZ

Graduate Jobs in Accounting and Finance

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