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Financial accounting directors assume the functional and disciplinary responsibility for the employees of their company’s accounting department. Besides, they report to the management board, keeping the members informed about the current sales and results figures.
Since companies of all sizes and in all industries are looking for financial accounting directors, their career prospects are excellent. In many sectors, financial accounting directors with specialist knowledge are in demand – real estate companies, for example, need experts for property accounting. Successful financial accounting directors have good career opportunities: they can be promoted to head of accounting, commercial director or even managing director.
Financial accounting directors are responsible for all work processes in internal accounting. The preparation of annual and consolidated financial statements according to commercial law is also part of their tasks. In this context, one of their objectives is to implement the guidelines of the management board through accounting policy. In smaller companies, controlling often belongs to the responsibilities of financial accounting directors as well.
Further tasks include:
Most companies want their financial accounting directors to be experienced accountants or to have a university degree in business administration as well as first relevant work experience. As with all jobs in accounting, an excellent understanding of numbers is essential. Financial accounting directors must also have good analytical skills and enjoy working precisely.
Further required skills include:
The salary of financial accounting directors is usually very good: In small and medium-sized companies, they receive an annual salary of between EUR 45,000 and EUR 60,000. In large corporations, they earn up to EUR 90,000, depending on their level of managerial responsibility and their range of tasks.
As head of financial accounting, you will perform a wide variety of tasks and will face numerous new challenges. Continuous further training is essential in this profession, as the legal framework conditions often change.
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