Controller vs Accounting Manager: What’s the Difference?

Within an accounting department, there are distinct job titles and responsibilities with a Chief Financial Officer (CFO), Controller, Accounting Manager and Staff Accountant. Controllers and Accounting Managers are supervisors within the department and are responsible for ensuring that financial tasks are completed accurately and on-time. With both roles close to one another within the department, how can we tell them apart and what’s the difference? You’re about to find out!

Key Takeaways:

  • The main job responsibility of a Controller is to ensure the accuracy of the financial statements, interpret the results, communicate the financial results in a manner that management and non-accountants can understand.
  • The main job responsibility of an Accounting Manager is to be the financial accounting expert and deliver 100% complete and accurate financial accounting statements to the Controller.
  • At TGG, our Consulting Controllers lead the engagement with our clients. They are often the Client Lead which requires much more focus on preserving the relationship with the client.
  • Our Accounting Managers are the bridge between TGG and the client as they assist with implementing processes, addressing the needs of their client(s) and relaying that information back to the TGG team.

What Is an Accounting Controller?

The main job responsibility of a Controller is to ensure the accuracy of the financial statements, interpret the results and communicate the financial results in a manner that management and non-accountants can understand. Controllers will also make suggestions on how to improve the business in order to drive results and achieve goals that have been set. At TGG, our Consulting Controllers lead the engagement with our clients. They are often the Client Lead which requires much more focus on preserving the relationship with the client. Controllers will also spend a more of their time trying to work smarter, not harder, to ensure teams are efficient and utilization is maintained.

What Is an Accounting Manager?

The main job responsibility of an Accounting Manager is to be the financial accounting expert. They deliver 100% complete and accurate financial accounting statements to the Controller. At TGG, our Accounting Managers are the bridge between TGG and the client as they assist with implementing processes, addressing the needs of their client(s) and relaying that information back to the TGG team.

Accounting Manager Vs Controller: Financial Statements

As previously mentioned, Accounting Managers deliver 100% complete and accurate financial accounting statements to the Controller. They have an in-depth understanding of financial accounting including all accounting requirements, GAAP rules, accrual accounting, etc. They oversee and review the work of the Staff Accountant, implement operational efficiencies and document standardized procedures. Not only do the financial statements the Accounting Manager delivers to the Controller need to be complete and accurate, but they must also be delivered timely i.e. before the 15th of the month.

Once the Controller receives the financial statements from the Accounting Manager, they review and share them with management or ownership of the business. Their job is to translate the story that’s being told in the financials by the numbers. This includes being responsible for forecasting, budgeting and benchmarking. The Controller will communicate metrics and Key Performance Indicators (KPIs) through charts, graphs and trend analysis.

The Controllers heavily rely on the Accounting Managers to provide accurate information because they are making decisions based on the financial data that they’ve been presented with.

Accounting Manager Vs Controller: Client & Team Relationships

As a Consulting Controller, they are both the main point of contact between the Client and their internal team. They talk to their clients about budgets, their plan for the month ahead and ways to improve their business. They are also the Team Lead and make sure that everyone on the team is doing what they are supposed to be doing. It’s a role with a lot of responsibilities and is different from an Accounting Manager who won’t quite be at the level of leading a team or the communication with a client yet.  Compared to an Accounting Manager, the Controller is a mentor for the Accounting Manager and Staff Accountant and mentors them because the hope is that one day, they will become Controllers themselves.

Accounting Manager Vs Controller: Job Prospects

The Bureau of Labor Statistics projects the number of jobs for financial managers will grow 17% from 2020 to 2030. This is much higher when compared to the average for all other jobs. At TGG, we’re always hiring top talent at the Controller and Accounting Manager level. We provide a flexible work-from-anywhere policy, unlimited PTO and additional benefits. To help us recruit top talent, we use the BambooHR platform, an applicant tracking system for small business that has taken our hiring to the next level. This platform helps us easily review potential candidates as a team while also creating the best possible experience for applicants.

Accounting Manager Vs Controller: Educational Requirements

When it comes to an accounting manager vs controller, both are both senior-level positions that require a great deal of specialized knowledge in the field of accounting. Both roles involve managing financial operations, but there are some distinct differences of controller vs accounting manager in terms of educational requirements for each position.

An accounting manager vs controller will typically require at least a bachelor’s degree in accounting or finance, while controllers typically need a master’s degree or higher in accounting or finance. In addition, controllers often possess a Certified Public Accountant (CPA) certification or the equivalent.

The specific educational requirements of accountant vs controller positions will depend on the company, but those with higher degrees and certifications may be more attractive to employers. Additionally, depending on the size of the organization, controllers may need to have a deeper knowledge in different areas such as taxation or auditing than accounting managers. To gain this knowledge, controllers may need to have additional certifications and/or coursework.

Overall, both accounting managers and controllers require a great deal of specialized knowledge that is best acquired through years of experience in the field and higher education. Those with extra qualifications, such as a CPA certification or an MBA degree, will be more attractive to employers and may have an advantage when competing for these positions.

Conclusion

The job responsibilities of a Controller and Accounting Manager have their differences, but both are focused on using the numbers to help achieve the goals for the business. They must work together within the accounting department, along with the CFO and Staff Accountant, in order to make sure the accounting work is being done at the appropriate levels and financials are produced accurately an on-time.

Accounting Manager vs Controller FAQs

The hierarchy of accounting positions typically consists of four main levels: junior, staff, manager and senior. At the entry-level, Junior Accountants are responsible for basic tasks including data entry, accounts receivable/payable, bank reconciliations, and financial statement preparation. Staff Accountants take on more complex duties such as preparing tax returns and creating financial models. Managers supervise staff and oversee the accounting department, while Senior Accountants provide strategic direction for the company’s financial goals.

Managerial accounting is the practice of using accounting information to measure, analyze and report financial performance. This field of accounting focuses on providing decision-makers within an organization with the insights needed to make sound strategic decisions. The three main pillars of managerial accounting are: cost management, financial planning and analysis (FP&A) and performance measurement.

Cost management involves monitoring and controlling expenses to ensure that resources are used as efficiently and effectively as possible. This includes analyzing expenses to identify areas where costs can be reduced or finding ways to optimize operations in order to maximize profits.

Financial planning and analysis (FP&A) is the process of forecasting an organization’s financial future. This involves creating budget projections, assessing the financial impact of new initiatives and setting long-term financial goals. Managerial accountants are responsible for providing decision makers with accurate and timely information to make informed decisions.

Performance measurement is the process of measuring an organization’s progress toward its strategic objectives. Managerial accountants use financial metrics such as KPIs and ratios to evaluate the organization’s performance. This information can then be used to make adjustments or initiate corrective action as needed.

The answer of controller vs accountant will depend on the size and complexity of your business. An accounting manager is typically responsible for overseeing accounting operations, supervising staff, preparing financial statements and providing strategic direction. A controller is a higher-level position that requires more in-depth knowledge of accounting principles and requires greater oversight of the organization’s finances. If you are running a smaller business, an accounting manager may be sufficient. However, if your organization is larger and more complex, you may need a controller or assistant controller vs accounting manager

to manage the accounting operations. It is important to assess your company’s needs in order to make sure that you have the right person in place with the necessary knowledge and experience. An experienced accountant can help you make the best decision for your business. In the debate of accounting manager vs controller, you can ensure that your company has the financial resources and expertise needed to succeed with under either’s guidance.

This post was reviewed by our team of accounting and financial experts. TGG’s mission is to make business owners’ lives better through excellent financial management. We strive to provide the most up-to-date and objective information on accounting-related topics so our readers can make informed decisions based on factual content. All posts undergo a review process with at least one member of our Leadership Team to ensure accuracy.

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