The Makings Of A Great Chief Accountant
Are you someone who loves working with numbers? Do you also enjoy working with people? Do you thrive when given a lot of responsibility, and take pride in getting the job done right the first time? If you said "yes" to those questions, then you probably have the makings of a great chief accountant!
Holding the position of chief accountant makes you responsible for a company’s financial management plans. The job duties include overseeing the entire accounting department, making important investment decisions, developing sound financial strategies, making sure the company is in compliance with all pertinent state and federal financial regulations, and helping the company leadership with strategic financial planning. You might choose to work full time for one company, or you could go to work for accounting and bookkeeping services that would farm you out to companies who need your skills, but don't want to hire someone full time for the position- there are many options available to you!
If this sounds interesting to you, the main qualifications of becoming a Chief Accountant are based on your education and whatever previous experience you have had working in accounting. There are some positions that will require you to have earned a bachelor’s degree in accounting, while other companies will prefer that you have obtained a master’s degree in the subject, or have a number of years of work-related experience under your belt. Whatever path you choose, the critical thing you will need to have earned is your Certified Public Accounting (CPA) license as proof of your expertise.
The position of Chief Accountant is not entry-level, to attain it you will need to have garnered experience that includes being comfortable with applying established accounting principles, knowing how to manage databases, using modern accounting software, participation in project management programs, having strong verbal and written communication skills, and the ability to provide confident leadership that can guide an accounting team to success.
The following is a breakdown of the Chief Accountant's role:
- Manage the entire accounting team and oversee all of their activities.
- Advise the business owners and employees on proper implementation of the tax code.
- Ensure the accuracy of all corporate and personal income tax returns.
- Make sure that client tax interviews are conducted properly.
- Oversee all of the state and federal payroll tax processing.
- Keep your team's skills and knowledge up to date by conduct the necessary training.
- Be sure that all requested documents are collected and compiled correctly.
- Ensure that all state and federal regulations are being complied with.
- Garner new client relationships as well as maintain current ones.
- Train, mentor, and monitor your clerks, bookkeepers, and junior staff.
- Proactively detect and address any potential compliance issues
- Uphold the firm's established reputation for excellence.
- Maintain positive communication with federal and state agencies, and the company's clients.
- Make regular reports to the operations manager.
Becoming a Chief Accountant is a terrific career move in whatever country you live in, they are always in demand!
