Accounting Manager Career Overview

Accounting managers oversee the accounting departments and activities within an organization. They can work for businesses and organizations of all sizes in the private and public sectors. Their main role is to ensure the organization maintains accurate and compliant financial records, policies, and practices.

Accounting managers supervise other accounting professionals and collaborate with managers from other departments. They may be involved in tax preparation, budgets and forecasts, and major organizational decisions.

Explore more about an accounting manager’s duties, skills, and expertise areas in this guide.

Accounting managers can take on many roles and responsibilities, but they usually oversee the accounting policies and operations within an organization. These professionals use their financial and accounting expertise to manage and optimize an organization’s financial health and practices. They also ensure that the organization meets compliance and regulations related to taxes and other financial laws.

Here are some of the primary duties of an accounting manager:

Through professional experience and specialized education, accounting managers can develop an area of expertise. Specializations can lead to better employment opportunities and higher earnings in some cases.

Management accounting deals with the application of accounting practices and principles to inform management and organizational decisions. This specialization requires knowledge of financial planning and budgeting, along with performance, revenue, and cost management.

Management accountants may start out by overseeing specific tasks before advancing into a management role that oversees major decision-making projects. This role often requires financial analysis to identify financial risks, opportunities, predictions, and forecasts. As their careers progress, management accountants may move into corporate or executive financial positions.

The government accounting specialization typically covers public financial systems and state and federal regulations. Specialists in this field may investigate financial crime, monitor the financial practices of banks and public organizations, and ensure compliance and legal standards.

Entry-level government accountants may assist projects by reviewing public financial records to ensure accuracy and compliance or research relevant policies. After gaining experience, these professionals may take on more responsibility, such as overseeing large-scale audits, advising on policies, or presenting the findings of an investigation to the appropriate government officials and agencies.

Tax accountants specialize in preparing, submitting, and auditing tax returns. They apply a thorough understanding of tax laws to optimize their employers’ tax payments and returns or to investigate tax fraud and other issues.

Entry-level tax accountants often work as public accountants for clients during tax season. Senior and manager roles may require them to handle large audits and tax disputes or assist organizations in developing a tax strategy.

The forensic accounting field involves investigating financial crimes and the mismanagement of funds. Forensic accountants investigate cases of fraud and embezzlement to assist the legal system or help organizations protect their assets.

Entry-level forensic accountants may start off handling basic case research, such as reviewing financial records and tax laws. As they move into supervisory and management roles, forensic accountants may oversee and mentor a team of investigators or work with higher-profile cases and clientele.

Accounting managers come from different pathways, but many employers look for professionals with a minimum bachelor’s degree in accounting or a related field and multiple years of relevant experience.

Your own path to the management level can vary considerably but expect to spend 4-6 years in school and between 2-5 years building experience in an accounting career. While not required, a graduate degree or accounting certifications, such as a certified management accountant or the certified professional accountant manager credential, may be helpful in advancing your career.

Your earning potential as an accounting manager depends on several factors, including your location, education, and experience. On average, however, the salary for financial managers nearly doubled that of an accountant in 2023. According to the Bureau of Labor Statistics (BLS), accountants earned a median annual salary of $79,880, while financial managers earned $156,000.

Accounting managers may earn more depending on their specialization and industry. For example, financial managers in the professional, scientific, and technical services industry earned a median annual salary of $169,860, while those working for the government earned $129,850, according to the BLS.

I became a CPA originally because I knew I was good at math. Like most college kids, that’s all I thought accounting and finance were. As I progressed into my career, I had no idea that this field was dependent on relationships with people. I stayed in the field much more because of that, rather than just doing math all day. Luckily, Wiss recognized this strength as well.

I prefer to think about the fields each of these positions work in rather than specific definitions. An accounting manager generally is responsible for a team of fellow accountants and may take ownership of a more complicated accounting matter. This can apply in public (audit) or private/industry (controller) sectors. A management accountant takes on more finance-type roles like budgets and forecasting. Lastly, an account manager is much more relationship-based, rather than digging into the numbers. Think of a sales or banking relationship.

I obtained a BS in finance but also minored in accounting. The minor obviously directly related to the work I’d be performing as a staff auditor and senior-level auditor. However, I believe my major really prepared me more for my role as a manager, at least in terms of client service. I felt I could connect with business leaders and understand their point of view.

The job market was very much in flux when I graduated in 2010. Originally, I had every intention of pursuing my finance degree and assumed I’d be working somewhere in New York City. However, the Great Recession of 2008-09 had different plans for me. I saw so many friends coming out of college unemployed. I decided to start taking some accounting courses because I knew those friends were still getting a job out of college. I was able to get a position with Wiss and here I am today!

For the most part, I continued to climb the ranks at Wiss as the years went by. In recent years, I’ve found my niche in the family office department here, and it’s been awesome. My ability to connect with clients as well as the teams of Wiss staff has definitely had the most significant impact on my journey. No matter their walk of life, people just want to be able to connect and have an honest conversation with someone, all the while trusting their business or their own career path is being treated faithfully.

My typical day is pretty diverse, involving different tasks. Usually, I’m checking in with various seniors or managers on the ongoing assurance engagements I have. At any given time, that may be 10-12 different teams. Between those check-ins, I am reviewing work papers or participating in an administrative firm meeting. I also have calls or meetings with senior client personnel, lawyers, bankers, and other third-party consultants.

Two of the most rewarding aspects of my position are the ability to have a real-world impact on my clients, whether it’s their business or their family, and helping them navigate life-changing events is really satisfying. The other rewarding aspect is helping younger staff at Wiss navigate the trials and tribulations of growing as an accounting professional. It’s awesome to see motivated team members and see them grow as professionals.

The most challenging aspect would have to be juggling everything that gets thrown your way, even on a daily basis. Prioritizing your work is so important because that’s really the only way you can be an effective leader. Remembering to maintain or improve your work-life balance is so important, too!

Without a doubt, it has to be communicating clearly and effectively, both orally and in writing. You need to be knowledgeable, of course, but being able to communicate effectively with your clients and teams will give you confidence, as well as others being confident in your abilities.

Consider taking an elective for business writing if available. You’d never think you would do so much writing in an accounting/finance field, whether it’s audit documentation, memos, or even just emails. It’s so important to your professional development to be able to write clearly and effectively. And for those thinking about the CPA exam, it’s definitely easier to get it done earlier in your career, rather than later. You will only have more responsibility and important family life events later in life that you won’t want to miss!