Director of Accounting Jobs & Career Guide

Last updated: May 22, 2024

What is a Director of Accounting?

A Director of Accounting is a senior-level executive responsible for overseeing the accounting operations within an organization. This role involves managing all aspects of financial recording, reporting, and ensuring compliance with accounting standards and regulatory requirements.

Being a Director of Accounting is like wearing two hats: guardian and strategist. You’re the guardian of the company’s financial integrity, ensuring every transaction is accurate, recorded correctly, and complies with regulations. This requires meticulous attention to detail and a deep understanding of accounting principles. But you’re also a strategist, using financial data to identify trends, forecast future performance, and support informed decision-making. The role demands strong analytical skills and the ability to translate complex financial information into clear, actionable insights for various stakeholders. It’s a challenging but rewarding position – you play a crucial role in ensuring the financial health and stability of the organization. The best part? Witnessing the impact of your work. When a new financial reporting system you implemented streamlines processes and saves the company time and money, it’s a real sense of accomplishment.

Mike McGuire, Director of Accounting at ESAB

Is a Director of Accounting the same as a Director of Finance?

No, a Director of Accounting and a Director of Finance are not exactly the same, although their roles can have some overlap depending on the company size and structure.

Feature	Director of Accounting	Director of Finance
Focus Area	Accounting & Financial Reporting Accuracy	All Aspects of Financial Operations (Strategic)
Reporting Structure	Reports to Director of Finance/CFO	Reports to CFO or Manages Other Directors
Key Skills	Accounting Expertise (GAAP/IFRS)	Broader Financial Skills (Accounting, Analysis, Budgeting)

Director of Accounting Accounting & Financial Reporting Accuracy

Director of Finance All Aspects of Financial Operations (Strategic)

Director of Accounting Reports to Director of Finance/CFO

Director of Finance Reports to CFO or Manages Other Directors

Director of Accounting Accounting Expertise (GAAP/IFRS)

Director of Finance Broader Financial Skills (Accounting, Analysis, Budgeting)

Key Responsibilities

Financial Reporting and Compliance

Oversees the preparation and accuracy of financial statements, including balance sheets, income statements, and cash flow statements, ensuring they comply with Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS).
Ensures compliance with local, state, and federal government reporting requirements and tax filings.

Internal Controls and Processes

Develops and maintains internal controls to safeguard the company’s assets and ensure the integrity of its financial data.
Implements policies and procedures that improve efficiency and consistency across the accounting department.

Team Management and Development

Manages and mentors the accounting team, which may include accountants, controllers, and financial analysts.
Responsible for hiring, training, and evaluating team members, fostering a collaborative and productive work environment.

Budgeting and Forecasting

Coordinates with other departments to prepare annual budgets and periodic financial forecasts.
Analyzes financial data to identify trends, advise on budget allocations, and forecast future financial conditions.

Audit and Liaison

Acts as the primary point of contact for external auditors during annual audits and reviews.
Works with external stakeholders such as auditors, tax advisors, and regulatory agencies.

Strategic Planning

Contributes to strategic planning and decision-making at the executive level to improve the financial health of the organization.
Provides strategic financial input and leadership on decision-making issues affecting the organization.

Day to Day

Here is what a typical day might look like for a director of accounting at a major software company:

8:00 AM: Start the day by reviewing the latest financial reports and key accounting metrics. Check for any discrepancies or unusual transactions that need immediate attention and schedule discussions if necessary.
8:30 AM: Attend a daily morning briefing with the finance team. Update the team on priorities for the day, review any pressing issues from the previous day, and discuss upcoming financial deadlines.
9:00 AM: Conduct a meeting with the accounts receivable and payable teams to monitor cash flow and discuss any significant outstanding or overdue accounts. Identify any potential financial bottlenecks and strategize on solutions.
9:45 AM: Review and approve significant financial transactions, ensuring they comply with company policies and financial regulations. This includes large transfers, contract signings, or expense approvals.
11:00 AM: Meet with the financial planning and analysis (FP&A) team to discuss budget variances and forecasts. Focus on aligning financial forecasts with ongoing projects and operational budgets.
12:00 PM: Lunch
1:00 PM: Review preparation progress for upcoming quarterly financial statements. Ensure all financial documentation and reports are prepared accurately and in compliance with GAAP standards.
2:00 PM: Attend a cross-departmental meeting with IT, sales, and marketing heads to ensure their financial operations align with the overall company strategy. Discuss any major changes in budget allocations or financial planning that may impact their departments.
3:00 PM: Meet with external auditors or tax advisors to discuss any ongoing audits or prepare for upcoming ones. Review any points of concern that auditors have flagged and address compliance issues.
4:00 PM: Spend time on strategic tasks, such as evaluating new accounting software or tools that could improve department efficiency or accuracy. Stay updated on new financial regulations or tax laws that could impact the company.
5:00 PM: Wrap up the day by responding to emails from internal stakeholders or external partners. Prioritize tasks and set up the next day’s agenda.
5:30 PM: Brief meeting with the CFO to report on the day’s critical financial activities, upcoming challenges, and progress on major projects.
6:00 PM: Head home, though often remaining available for urgent queries or to finalize critical tasks remotely if necessary.

How to Become a Director of Accounting

Obtain a Bachelor’s Degree – Start with a bachelor’s degree in accounting, finance, or a related field. This foundational education is crucial for understanding core accounting principles. Consider also whether pursuing an MBA makes sense at this juncture.
Gain Initial Experience – Begin your career in an entry-level accounting role such as a staff accountant or junior auditor. This experience is vital for gaining practical skills in managing financial transactions and understanding regulatory compliance.
Pursue Professional Certifications – Enhance your qualifications by becoming a Certified Public Accountant (CPA) or obtaining other relevant certifications such as Certified Management Accountant (CMA). These certifications are often required and highly respected in the accounting field.
Acquire Specialized Experience – Progress to roles with increasing responsibility such as Senior Accountant, Accounting Manager, or Controller. Focus on mastering complex accounting functions, financial reporting, tax planning, and internal audits.
Develop Leadership Skills – While gaining experience, cultivate leadership and strategic thinking skills. Management experience is essential for a director-level position, involving oversight of accounting teams and collaboration with other department heads.
Advance to Director of Accounting – With substantial experience and a track record of successful financial management, advance to the role of Director of Accounting. Be sure to upload your resume and setup job alerts to find the right opportunity for you.

How Much Do You Earn as an Accounting Director?

The average salary in the US for a Director of Accounting is $157,058. For more detailed insights, please refer to our Accounting Director Salary Guide.

Position	Company	Location	Posted
Director of Accounting	Kentucky Community & Technical College System	Versailles, Kentucky US	07/19/2024
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Controller, Finance & Accounting	HR&A Advisors	New York, New York US	07/16/2024
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Assistant Director of Accounting	Case Western Reserve Univesity	Ohio	07/12/2024
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Financial Accounting Coordinator – Construction Management	Turner & Townsend	Seattle, Washington US	07/05/2024
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Sr. Manager, Finance	Cruise Lines International Association Inc.	Washington, Dist. Columbia US	07/03/2024
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Director of Accounting	Austin PBS	Austin, Texas US	07/02/2024
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Assistant Director of Accounting	Case Western Reserve Univesity	Ohio	05/23/2024
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Position Director of Accounting More Company Kentucky Community & Technical College System Location Versailles, Kentucky US Posted 07/19/2024
Position Controller, Finance & Accounting More Company HR&A Advisors Location New York, New York US Posted 07/16/2024
Position Assistant Director of Accounting More Company Case Western Reserve Univesity Location Ohio Posted 07/12/2024
Position Financial Accounting Coordinator – Construction Management More Company Turner & Townsend Location Seattle, Washington US Posted 07/05/2024
Position Sr. Manager, Finance More Company Cruise Lines International Association Inc. Location Washington, Dist. Columbia US Posted 07/03/2024
Position Director of Accounting More Company Austin PBS Location Austin, Texas US Posted 07/02/2024
Position Assistant Director of Accounting More Company Case Western Reserve Univesity Location Ohio Posted 05/23/2024

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