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Job Title: Accounting Manager
Type of Company: The company makes network security equipment designed for larger companies worldwide.
Education: BS, Accounting, Bentley College •• MBA, Taxation, Bentley College
Previous Experience: I worked as an auditor at a Big 6 public accounting firm. Following that I was a financial analyst, revenue accountant, and senior accountant.
Job Tasks: I manage 15 people worldwide who handle payroll (payment of employees' salaries, bonus and commissions) and benefits (health and dental insurance, vacation, etc) , general accounting (recording journal entries and reconciling: cash, accounts receivable, prepaids, fixed assets, accounts payable, and accruals), accounts payable (preparing purchase orders, matching vendor invoices against approved purchase orders, determining correct expense account to record vendor invoice, determining timing of invoice payments and processing payments to vendors, as well as checking, coding and processing payment for travel expenses to be reimbursed to employees), accounts receivable (determining credit limits for customers, sending customer invoices, calling customers to collect amounts owed to the company, recording cash receipts) and the statutory filing required in all the foreign countries the company operates in.
I am responsible for reviewing and researching variances between actual expenses and budgeted expenses, for preparation of month-end financial statements and for preparing for and overseeing the audit of the company's annual financial statements by external auditors. I am also responsible for the review and approval of the company's federal and state income tax returns prepared by the external tax accountants and for automating processes to make the time required to complete the month-end financial statements as brief as possible.
Best and Worst Parts of the Job: For me the best part of my job is understanding the finances of the company and the challenges that recording the finances sometimes pose. For example, every revenue contract can be slightly different. Even slight differences written into the contract can change the revenue recognition for that particular customer contract.
The worst part of the job are the more mundane tasks that do not usually pose a challenge but need to be completed every month. These would include recording the cash transactions and most account reconciliations.
Job Tips: For anyone who wishes to be an accountant I recommend the following:
1. Work for as an auditor for a big public accounting firm. You will get to see the duties of many different accounting positions in both small and large companies. You will also be exposed to many tough accounting issues.
2. Get your CPA license. Although it is a pain to study for and take this exam, have your license gives you an advantage over other candidates for jobs and usually you can demand a higher salary if you have a CPA license.
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