Your debate on Controller vs Accounting manager can be a bit confusing because these two professions are very similar.
However, I have provided a detailed guide to assist you in understanding the difference between Controllers and Accounting managers.
Let’s get to the bottom of this topic.
Controller Vs. Accounting Manager
No matter how small or successful your company is, it is always right that you employ capable hands to handle your company’s financial infrastructure.
Many organizations find themselves asking: controller vs accounting manager what’s the difference?
As mentioned earlier these two professions are very similar, however, what one uses to differentiate them is the level of supervision controllers provide for the financial affairs of an organization.
Controllers start their work experience by being public accountants for companies and corporate organizations.
This enables them to gain the needed years of experience to successfully work for bigger companies and organizations.
Although these two professions have similarities, neither one should be considered more important than the other because they both carry out essential roles on any scouting team.
In addition, accountants work hand in hand with bookkeeping staff, they oversee the affairs of bookkeepers by working with the information given to them by these professionals.
Accounting managers are required to get their CPA license which is the certified Public Accountant license.
With this license, they qualify to work as financial processions who would improve the company’s financial services by preventing fraud and maintaining financial records for co-workers, investors, creditors, partners, and regulators.
Furthermore, you can find accounting managers working as Auditors, Tax accountants, cost accountants, and Internal reports for financial organizations.
Controllers also oversee that the accounting unit of a firm runs smoothly by monitoring accountants for smaller firms and organizations.
Additionally, accounting managers: implement policies and procedures, safeguard company assets, create budgets, handle risk management, handle payroll (executive), create variance reviews, go over financial statements, prepare financial statements, implement, financial and accounting systems, sign sales tax returns, tax compliance, managing the bookkeeper, signing cheques, creating difficult journal entries, processing payroll And coordinating with CPAs on audits and tax returns for companies and financial organizations.
Finally, these two financial professionals have some financial data examining skills that are used for leadership positions, providing advice and financial details of an organization’s financial record.
Now we know who accounting managers and controllers are, lets us answer the question “controller vs accounting manager what’s the difference”. Read on.
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Accounting Manager Vs Controller Whats The Difference
Despite being very similar there are key differences between accounting managers and controllers let’s check them out below.
1. Job Duties
Accounting managers handle more duties than controllers. They assist in all aspects of accounting operations and management.
Accounting managers provide guidance and directions on financial projects, analyze employee performance, and provide feedback to assist company owners and employees to improve their services toward the growth of the company.
In addition, accounting managers are also in charge of hiring and firing employees as well as payment of salaries and offering salary increases in cases of good performance.
Controllers on the other hand have a more detailed job responsibility with an organization. They analyze financial reports for various departments such as sales and finance and ensure that each department complies with the established financial regulation of the company.
Controllers also maintain the record, of all the transactions in a firm. They secure financial records in a file that can only be accessed, by appointed employees in a company.
In addition, controllers create budgets for different departments and ensure that each department does not spend more than the approved limit.
2. Job Requirements
You cannot become a controller or an accounting manager without a bachelor’s degree in accounting, finance, business administration, or any related field in finance.
In some cases, business owners might require controllers and accounting managers to have a master’s degree for particular positions in the financial sector.
Furthermore, accounting managers are also required to have a CPA license from any accredited institution to enable them to file taxes.
This license also permits financial analysts to offer guidance and advice, to clients and investors on investment options and opportunities.
Although certification is not mandatory in these two professions, it can allow for more growth and opportunities and can be an edge for gaining more experience in the financial sector through thorough training and examinations.
3. Work Environment
Accounting managers and controllers have different workstations.
You would find Accounting managers working for firms as internal auditors, which means they perform audits on the firm’s financial practices to ensure that all transactions are accurate and recorded. They may also work as external auditors for other financial organizations.
While controllers are always present in an office environment where they can access the proper information, that would be used to complete their daily duties in a company.
In most cases, controllers may be required to visit clients and investors and attend meetings with partners or shareholders of a company.
4. Skills
Working in the financial sector required a lot of skills, and one of these skills is math skill.
If you are aiming to become an accounting manager or controller you need to have excellent math skills because working in the financial sector means you would always work with numbers during your working hours.
Math skills are needed in reviewing financial reports, preparing budgets, and forecasting future needs.
Both an accounting manager and controller also need to be detail-oriented to ensure accuracy in their financial work.
Furthermore, an accounting manager must have project management skills which would be used to coordinate the affairs of a company accounting team to ensure all deadlines are met.
While controllers, need to have more advanced financial examining skills to identify trends and make recommendations that would aid the growth of an organization to an employer.
- Read more: Is Accounting A Hard Major? [2022 Guide]
5. Salary
There is a notable difference in the salary of controllers and accounting managers.
Accountants earn about $90,000 every year, while controllers earn an average salary of $128,456 every year.
However, accountants also have lots of career advancement opportunities, which would eventually, provide higher income potential for these professionals.
For instance, some positions, such as tax managers or internal audit managers, can earn as much as $150,000.
Although, the salary of these two professions may vary depending on the location, size, experience, and position of the controller or accounting manager.
6. Specialization
Accountants have more specialized roles in the financial sector than controllers.
For example, accountants monitor taxes, control transactions, and carry out financial plans in an organization.
While, controllers are always present, among the employees of a firm because they oversee, the general financial infrastructure, of a company.
A controller’s job is focused, on the broader financial processes of a company. These professionals are not needed to specialize in a specific financial field in a company.
Rather, they oversee the entire accounting department, so they must have lots of management skills.
Frequently Asked Questions
Is A Controller Higher Than An Accountant?
controllers’ handle more crucial roles than that of an accounting manager.
Is A Controller A Good Job?
With the kind of job opportunities and salaries that are available for controllers one can tell that controller is a good job
What Are The 4 Types Of Accountants?
corporate, public, government, and forensic accounting are some of the types of accounting programs
Can A Controller Become CFO?
A controller should strive to add to their knowldege that would enable them to make them good candidates to become a CFO
Who Is Under The Controller?
Accounting manager, financial planning manager, accounts receivable manager, and accounts payable manager are some of the positions that are under controllers
What Position Is Higher Than Accounting Manager?
Controllers have higher positions than accounting managers
What Is Another Title For Controller?
Controllers are also called comptrollers they are both responsible for accounting operation for businesses.
Do Controllers Make Good Money?
Controllers earn good money, many controllers earn about $190,567 ever year
What Is Another Title For Accounting Manager?
Financial Director, Finance Manager, Financial Reporting Manager and Tax Specialist are some of the titles of accountant managers.
What Is The Highest Position In Accounting?
With a degree in accounting one can rise to the position of chief financial officer after series of tests, trainings and certification
Conclusion
We hope this blog post has settled your argument on “controller vs accounting manager”. Now you can differentiate between controllers and accounting managers.
Ensure you thoroughly go through the duties of these financial professionals and pick the best profession that suits you.
However, did you enjoy this blog guide? If yes, please share it with your friends and family.
