The finance-accounting department is an important and indispensable department in all types of businesses and organizations. voice of Financial director also has the strongest impact. High income, important position, important role, but is it a “pink” position? Please read with HRchannels to discover 1001 facts about the chief financial officer – accounting to better understand the things behind this important title.
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Important functions of a financial-accounting manager
In addition to having a high level of expertise in finance – accounting, the head of department must also assume the role of leader of the most important department of the company. As a result, the functions of the manager of the finance – accounting department are very diverse:
– Be directly responsible to management for all tasks related to the capital situation, the collection of receivables, the disbursement of production costs.
– Directly advise and propose measures to improve business revenues and profits.
– Periodically evaluate and restructure the financial accounting system, ensuring compliance with state laws and regulations, and at the same time, make full use of all the benefits.
– Recruit and directly interview candidates for the accounting department.
- – Train, coach and develop the staff of the finance – accounting department in accordance with the development orientation and the actual work process.
>>> You can see more: The difference between the finance manager – accounting and the chief accountant
Interesting facts about the head of the finance-accounting department
To be able to be recruited and successfully assume a senior management position with many benefits, high salary and bonuses, the manager of the finance – accounting department must always make constant efforts, accept and face a series of challenges that few people know
1. Continuous learning, financial system innovation update
The faster the economy develops, the more policy gaps appear, and the improvement of government fiscal and financial policies takes place almost every year, if not several times a year.
As the leader of the finance – accounting department, the department manager must always regularly update these changes, understand well in order to communicate, deploy and find ways to improve the business system accordingly most effective.
National companies only need to pay attention to the national tariff system, but for multinational organizations, the head of accounting and finance department should also update policies in other countries.
2. Always be the one in charge of all financial and accounting matters
Errors in a small step related to accounting – finance, although not directly from the head of the department, but as a manager, leader, guiding and directing the department, they must always be the most responsible person to the management of the company.
At the same time, financial and accounting issues are quite sensitive and involve many parties. Therefore, in order to be able to clearly define who is responsible and what the responsibility ratio is, it is a flexible and complex application of professional expertise.
3. Work no matter the time
We can clearly see the head of the accounting-finance department leaving on time, not having to go to the company to work overtime, but few people know, for them, working time is not limited , it’s just that they can just continue the work in another space.
In addition, periodic audits every year are the time when the accounting – financial department takes advantage of all the resources, may have to sleep at night in the office to prepare complete documents in accordance with the inspection regulations, audit while still having to complete daily business tasks.
4. Working away from home for a long time
The long-distance business trips of the head of the accounting-finance department are more or less important depending on the
The geographical size of the company
The period when the state promulgated innovations in policies, decrees, circulars on finances, tariffs, etc.
The degree of improvement of the accounting – financial system of the entire organization.
Once the level of these factors is higher, the time and responsibility of the head of the accounting – finance department in the work area will be longer.
A small error, a small incoherent communication, a small negligence in the evaluation of the results of the acquisition of the employee… are enough to make the whole company pay the price.
5. Company specific financial regulations
In order to respond quickly to changes in economic competition, each company has developed its own specific financial plans. These options are mainly understood by the board of directors and the head of the finance department and have a particular coordinating role.
Although this arrangement shows the high position of the finance-accounting department head, it comes with great responsibilities, closely linking the interests of the department head and the whole company.
6. Characteristics of the recruitment of the head of the finance – accounting department
Compared to other positions, the candidate for the position of head of finance – accounting department is highly appreciated by employers for their loyalty and professionalism. Therefore, candidates who change jobs a lot (even if you are only an employee or professional at the time) will more or less lose their competitive score.
As far as stability at work is concerned, the head of the finance – accounting department is the position that does not reduce the payroll. Even with the change in the senior management of the board of directors, the former head of the accounting-finance department continues to be respected.
>>> Maybe you are interested: What is a financial manager in a company?
These are the most typical characteristics of 1001 Finance – Accounting Manager Facts that HRchannels wants to share with employees, professionals, and candidates who aspire to this position.
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