How to Be Public Accounting Manager - Job Description, Skills, and Interview Questions

May 4, 2021 / 6 Minutes Read / By Albert

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The demand for public accounting managers is increasing as businesses strive to maintain accurate financial records. This is due to the fact that public accounting managers are responsible for overseeing the preparation of financial reports, analyzing financial data, and providing advice and recommendations to their clients. As businesses continue to expand and become more complex, the need for well-trained public accounting managers increases, as they are essential in helping organizations understand their financial position and make sound business decisions.

public accounting managers must be highly organized and detail-oriented in order to ensure that financial records are accurate and up-to-date. Therefore, having a strong understanding of accounting principles, regulations, and industry trends is essential for successful public accountants.

Steps How to Become

Earn an Undergraduate Degree. Becoming a public accounting manager requires at least a bachelor's degree in accounting or closely related field, such as finance or business administration. A bachelor's degree in accounting typically takes four years to complete.
Obtain Professional Certification. Although it's not required, some employers prefer job applicants who have professional certification. Certification as a Certified Public Accountant (CPA) is the most common in the United States. To become certified, applicants must pass the Uniform CPA Exam, complete a certain number of hours of professional experience, and meet the education requirements in their state.
Gain Work Experience. Most employers require public accounting managers to have at least several years of experience in public accounting and management. Gaining experience in public accounting can be done by working as an accountant in a public accounting firm or as an auditor for a company.
Pursue Further Education. Pursuing further education can help individuals become more competitive job candidates and increase their chances of advancing in their career. Earning a master's degree in accounting or finance can provide an individual with the necessary knowledge to move into a managerial role in public accounting.
Develop Necessary Skills. Public accounting managers need strong leadership, communication, problem-solving, and organizational skills. They must also be able to manage multiple tasks efficiently and work well under pressure.
Network. Networking is an important part of advancing in any career. Building relationships with other professionals in the field can help individuals stay up to date on industry news and trends, and it can also be beneficial for finding job opportunities.

One of the most effective ways to ensure a reliable and competent accounting manager is to hire someone with extensive experience and training. Hiring an experienced and knowledgeable manager will not only provide a better understanding of the financial and accounting functions, but also the expertise needed to manage complex financial operations. Having a manager with a strong background in accounting will also help ensure accurate recordkeeping and compliance with financial regulations.

it is important to provide ongoing education and training to the manager in order to stay up to date on the latest accounting trends and regulations. Finally, having a clear system of accountability and oversight will ensure that the manager is following the proper procedures and protocols. By taking these steps, businesses can ensure they have a reliable and competent accounting manager in place.

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Job Description

Analyze financial records and reports to ensure accuracy and compliance with established standards, regulations, and laws.
Develop or implement accounting procedures or systems to maintain accurate financial records.
Prepare financial statements, reports, analyses, and other financial information for review by management or for external audit purposes.
Manage internal and external audit processes, ensuring accurate and timely completion of audit work.
Prepare and review budget, revenue, expense, payroll entries, invoices, and other accounting documents.
Supervise and evaluate the performance of accounting staff.
Monitor and analyze accounting data and produce financial reports or statements.
Report to management regarding the finances of the organization.
Ensure compliance with applicable laws and regulations.
Analyze business operations, trends, costs, revenues, financial commitments, and obligations to project future revenues and expenses or to provide advice.

Skills and Competencies to Have

Leadership: Ability to motivate, manage, and develop staff to produce quality work.
Strategic Thinking: Ability to set short- and long-term goals, identify and develop strategies to achieve them.
Analytical Skills: Ability to assess financial data and identify trends, risks, and opportunities.
Communication: Ability to effectively communicate complex ideas to diverse audiences, both written and verbally.
Technical Knowledge: Knowledge of accounting principles, standards, and regulations such as Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS).
Problem Solving: Ability to identify problems and develop solutions in a timely manner.
Project Management: Ability to plan, organize, and manage multiple projects simultaneously.
Interpersonal Skills: Ability to work collaboratively and build relationships with clients, peers, and stakeholders.
Time Management: Ability to prioritize tasks and meet deadlines in a fast-paced environment.
Decision Making: Ability to make sound decisions based on data and analysis.

As a public accounting manager, it is essential to have strong problem-solving and analytical skills. Those skills enable the manager to assess financial situations and make informed decisions that can have a lasting impact on a companys success. Furthermore, the ability to communicate complex financial information in an understandable way is necessary for the manager to effectively communicate with stakeholders and colleagues.

the public accounting manager must be proficient in using software and technology, as well as have an in-depth knowledge of regulations that govern their industry. For those in the public accounting field, success is contingent upon having great organizational skills, being able to manage multiple projects at once, and staying abreast of changing laws and regulations. Having these skills allows a public accounting manager to efficiently handle their job duties and ensure that their clients are in compliance with any applicable regulations.

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Frequent Interview Questions

What experience do you have in public accounting?
How do you stay current on changes in the accounting industry?
What do you believe are the most important qualities for an accounting manager?
Describe a time when you had to manage a difficult client situation.
How do you ensure accuracy and compliance in all accounting tasks?
What strategies do you use to motivate staff members?
How would you handle a situation in which an employee has failed to meet deadlines?
How do you handle the pressure of tight deadlines?
What techniques do you use to communicate complex financial information to clients?
How do you prioritize tasks and ensure that all deadlines are met?

Common Tools in Industry

Accounting Software. A digital platform that allows a manager to track and manage the accounts of a business. (eg: QuickBooks)
Budgeting Software. Software that enables an accounting manager to create, manage, and track budgets. (eg: Microsoft Excel)
Financial Analysis Software. Software that enables an accounting manager to analyze financial data and generate reports. (eg: SAP Analytics Cloud)
Audit Software. Software that enables an accounting manager to audit a companys financial data. (eg: ACL)
Tax Preparation Software. Software that assists an accounting manager in preparing and filing taxes. (eg: TurboTax)
Report Writing Software. Software that helps an accounting manager generate financial reports for stakeholders. (eg: Crystal Reports)
Consolidation Software. Software that helps an accounting manager consolidate multiple sets of financial data into one report. (eg: Oracle Hyperion)

Professional Organizations to Know

American Institute of Certified Public Accountants (AICPA)
National Association of State Boards of Accountancy (NASBA)
Association of International Certified Professional Accountants (AICPA)
Financial Executives International (FEI)
Institute of Management Accountants (IMA)
The American Accounting Association (AAA)
The Institute of Internal Auditors (IIA)
The Institute of Chartered Accountants in England and Wales (ICAEW)
The Chartered Institute of Management Accountants (CIMA)
American Accounting Association Tax Section (AAAT)

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Common Important Terms

Certified Public Accountant (CPA). A CPA is an individual who has passed the necessary exams and been certified by their state to practice public accounting. CPAs are responsible for preparing financial statements, conducting audits, providing tax advice, and other financial services for their clients.
Chartered Accountant. A Chartered Accountant is a professional accountant who has passed examinations and obtained a designation from a government-recognized body. Chartered Accountants are responsible for providing assurance and consulting services, auditing financial statements, performing tax and compliance services, and providing financial advice to their clients.
Bookkeeper. A Bookkeeper is an individual who is responsible for keeping financial records, preparing financial statements, reconciling financial accounts, and managing payroll. Bookkeepers are typically employed by businesses to ensure that all financial records are accurate and up-to-date.
Financial Analyst. A Financial Analyst is an individual who analyzes financial data to make recommendations to management on how to improve business performance. Financial Analysts are responsible for analyzing market trends, evaluating investments, creating financial models, and recommending strategies to enhance the companys financial performance.
Internal Auditor. An Internal Auditor is an individual who reviews an organizations internal controls, financial processes, and compliance procedures to ensure that they are in accordance with applicable laws and regulations. Internal Auditors are responsible for identifying weaknesses in an organizations processes and suggesting improvements.

Frequently Asked Questions

What are the main responsibilities of a Public Accounting Manager?

The main responsibilities of a Public Accounting Manager include overseeing financial reporting, developing budgets, creating financial plans, monitoring financial performance, and supervising accounting staff.

What qualifications are required to become a Public Accounting Manager?

Generally, a Public Accounting Manager must possess a bachelor's degree in accounting or a related field, as well as several years of relevant experience. Professional certifications, such as a Certified Public Accountant (CPA) license may also be required.

What type of work environment do Public Accounting Managers usually work in?

Public Accounting Managers typically work in professional office settings and may also occasionally travel for business purposes.

How much does a Public Accounting Manager typically earn?

According to the latest data from the Bureau of Labor Statistics, the median annual wage for Public Accounting Managers was $77,920 in May 2019.

What skills are important for success as a Public Accounting Manager?

Successful Public Accounting Managers need strong analytical and problem-solving skills, detail-orientation, communication and interpersonal skills, and the ability to lead and manage teams. They should also have a good understanding of accounting principles, financial analysis, and financial reporting processes.