What's it like to be an Accounting and Financial Manager?
Accounting and Financial Managers oversee the financial health of an organization. They analyze financial data, prepare reports, and devise strategies for long-term financial goals. Additionally, they ensure that all financial transactions and reports comply with local laws and regulations. Accounting and Financial Managers work primarily in office environments, and some travel might be involved for meetings or audits. These professionals work for various companies such as businesses, government agencies, and non-profit organizations.
Tasks and duties
- Preparing financial statements, budgeting, and financial forecasting.
- Managing organizational cash flow and forecasting.
- Analyzing variances and developing improvements.
- Ensuring that financial transactions are correctly recorded.
- Coordinating auditing processes.
- Ensuring compliance with financial regulations and standards.
- Overseeing the performance of the accounting and financial department.
- Providing insights on financial planning, budgeting, and investment priorities.
How to become an Accounting and Financial Manager
To work as an Accounting And Financial Manager, you typically need to possess a relevant bachelor degree. For managerial roles, a Certified Public Accountant (CPA) certification may also be required.
Gain a bachelor degree in accounting, finance, or a related field. These degrees typically take four years to complete, providing foundational knowledge in financial management and reporting.
Gain practical experience through entry-level roles in accounting or finance. Roles such as Junior Accountant or Financial Analyst can provide valuable experience in financial reporting, budgeting, and compliance.
Pursue and attain the Certified Public Account (CPA) certification. Most firms in the Philippines require this certification for managerial positions in accounting and finance. Being a CPA can also indicate a high level of skill and commitment to the profession.
Most employers require many years of experience in managerial or supervisory roles in accounting or finance. Knowledge of Statutory Accounting Principles (SAP) and other financial reports is also preferred.
Consider furthering your education. An advanced degree, like a master degree in Accounting or Business Administration, can provide deeper knowledge in financial management and is preferred in offers for higher-level positions.