WHAT DOES A CORPORATE ACCOUNTING MANAGER DO?

Published: August 19, 2024 - The Corporate Accounting Manager leads team development and training, enhancing engagement and setting clear objectives to meet critical financial deadlines. Oversees the improvement and implementation of accounting policies and systems, ensuring robust internal controls and efficient process documentation. Coordinates global financial activities, including cash flow management, tax audits, and monthly financial reporting, ensuring consistency and compliance across international locations.

A Review of Professional Skills and Functions for Corporate Accounting Manager

1. Corporate Accounting Manager Duties

  • Team Management: Manage a team of 3 individuals.
  • Close Process Oversight: Manage month and quarter end close process and activities, including the review of journal entries.
  • Account Reconciliation: Review monthly balance sheet account reconciliations, ensuring that general ledger accounts are reconciled with documented resolution to reconciling items.
  • Financial Reporting: Review footnote disclosures in support of the preparation of the 10-K and 10-Q filings.
  • Financial Analysis: Perform and review actual vs. actual account analyses and present findings to CAO and other senior leadership.
  • Software Management: Oversee and optimize Blackline, financial close management, and accounting automation software.
  • Process Improvement: Continuously improve business processes, systems, and documentation.
  • Cross-Department Collaboration: Partner with departments across the business to ensure proper accounting treatment of various activities.
  • Project Participation: Participation in special projects and ad hoc analyses.
  • Global Process Alignment: Drive initiatives for global process alignment across all Square entities and implement enhancements and improvements.
  • SOX Compliance: Implement processes and document controls to ensure SOX compliant internal control environment.
  • Staff Development: Develop staff by managing performance, setting goals, providing ongoing training, and maintaining strong employee relationships.
  • Audit Collaboration: Work with internal and external auditors to provide accurate PBCs on a quarterly basis.

2. Corporate Accounting Manager Details

  • Accounts Management: Independently manage the Accounts Payable and Purchasing functions in a high-volume workflow Oracle system, including imaging and image verification processes.
  • Credit & Collections Management: Manage the Credit and Collections processes including credit decisions, bad debt policy and reserves, and all collection activities.
  • Team Leadership: Effectively recruit, train, and lead the team and provide regular communication and feedback.
  • Team Development: Focus on developing and training team members and ensuring high levels of engagement.
  • Performance Management: Develop and implement goals and priorities for the team, including work scheduling, prioritizing, and meeting month-end deadlines.
  • Service Level Reporting: Regularly prepare and present information to the Finance Leadership Team on Service Levels, productivity, and process improvement.
  • Process Improvement: Improve, document, and implement efficient and effective Policies and Procedures documentation and training materials.
  • System Efficiency Monitoring: Monitor and evaluate the effectiveness and efficiency of accounting systems and assist internal and external auditors in performing reviews and audits of accounting records.
  • Access Control: Review and control system access to ensure appropriate internal controls.
  • Tax Audit Preparation: Work on year-end income tax audit schedules.
  • Cash Management: Work with cash flow projections and cash management.
  • Project Management: Work on special projects and prepare ad hoc reports and analysis.
  • Financial Analysis: Analysis of monthly financial reports of income, balance sheet accounts, and cash flows.
  • International Coordination: Coordination with international locations and account reconciliations.

3. Corporate Accounting Manager Responsibilities

  • Organizational Management: Manage close of II-VI organization by tracking progress, monitoring delays, working through issues, etc.
  • Accuracy Review: Review consolidated results for accuracy (elimination entries, overrides, topside entries, etc.).
  • Analytical Analysis: Perform analytical analysis over actual results by BU and Segment on a monthly/quarterly/annual basis.
  • Financial Review Coordination: Work with all locations to review financial results for the month (One Page Analysis, Comparative BS/ IS, FX fluctuations, etc.).
  • Reporting Distribution: Prepare & Distribute Monthly Closing Package on financial results.
  • Process Improvement: Identify and implement process improvement to enhance the efficiency of the Company's closing process.
  • Journal Oversight: Review / Approve journal entries. Review / Approve reconciliations as prepared by staff on a monthly basis for accuracy, appropriate support, resolution of open items.
  • Account Management: Maintain detailed Account Responsibility Matrix to ensure all accounts are properly assigned and reconciled.
  • Financial Oversight: Primary point of contact for Corporate Company financial statements review and reconciliation.
  • Intercompany Elimination: Oversee the appropriate elimination of intercompany activity.
  • Process Documentation: Ensure all Shared Service Center accounting processes are documented, and accounts are reconciled.
  • Topside Management: Post topside entries to Hyperion as necessary on a monthly basis and ensure all topside entries are reviewed/approved.
  • Hyperion Supervision: Review / approve postings in Hyperion as input by others.
  • Record Keeping: Maintain records of all data input in Hyperion JE Log, approved journal entries, support for entries, etc.
  • Acquisition Accounting: Prepare necessary entries throughout the year as needed associated with purchase accounting in Hyperion.

4. Corporate Accounting Manager Accountabilities

  • Issue Identification: Work with HFM team to identify possible issues, necessary overrides, journal entries, etc.
  • Budget Coordination: Work with all Finance groups at Corporate to coordinate the forecasting / budget process.
  • Financial Analysis: Review monthly results as compared to forecast / budget. Investigate any material discrepancies.
  • Budget Preparation: Assist Chief Financial Officer in preparing forecast / budget for the Global Finance group.
  • Staff Coordination: Meet with staff daily to discuss focus, issues, etc.
  • Task Management: Manage staff tasks as needed to meet overall goals of group.
  • Staff Development: Mentor staff for further development and identify opportunities for growth.
  • Meeting Management: Accounting Review Meeting schedule, prepare Accounting Review Meeting Package, prepare Meeting Minutes.
  • Audit Support: Support external auditor requests.
  • Financial Statement Review: Review of consolidated financial statements, include statements of equity and cash flows.
  • Reporting Support: Provide support as needed to External Reporting team for quarterly 10-Q, and annual 10-K.
  • Standards Implementation: Work alongside External Reporting team to operationalize new accounting standards within accounting systems.
  • Standards Compliance: Assist in executing process flows to adhere to ASC 842 and other implemented accounting standards.
  • Lease Management: Oversee the lease accounting platform, including review of new leases and generation of monthly journal entries.

5. Corporate Accounting Manager Functions

  • Accounting Operations Management: Responsible for assigned aspects of the day-to-day activities of the accounting department
  • Departmental Support: Support Controller and Assistant Controller in management of department on and offshore
  • Journal Entry Oversight: Prepare or approve month-end journal entries
  • Financial Analysis: Monthly division/program income statement trend review, including budget variance analysis
  • Data Analysis: Monthly preparation of complex premium and/or claim bordereaux analysis
  • General Ledger Management: Management and review of G/L account reconciliations and supporting schedule maintenance
  • Reconciliation Ownership: Ownership, including preparation and maintenance, of certain complex accounting reconciliations performed on a quarterly basis
  • Budgeting Support: Support budget and forecast personnel, as needed, through preparation and review of deliverables related to department responsibilities
  • Compliance Assistance: Assist in efforts to ensure compliance with Sarbanes-Oxley (“SOX”) requirements
  • Project Assistance: Assist in special projects, ad hoc tasks and/or initiatives
  • Accounting Documentation: Preparing, reviewing, and documenting accounting activities
  • Governance Enhancement: Create additional process/corporate governance oversight for all global technical accounting changes
  • Special Projects Support: Assist with special projects
  • Process Improvement: Identify and implement process improvement within finance organization