Responsibilities of an Accounting Officer
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An accounting officer is a senior employee whose overall responsibility is managing the financial resources of an organization to ensure efficient and effective functioning of its operations. This professional often heads the accounting department, though his position can change to meet specific administrative needs of a company. When hiring, employers often look for a degree holder in accounting, economics or finance. Having excellent communication skills and an outstanding work ethic can give you an edge over other job seekers.
Assessing Financial Decisions
The management of an organization can't make financial decisions without understanding accounting information. Managers rely on the accounting officers to assess decisions or projects that can affect the company's finances, evaluate their implications and make recommendations as necessary. For example, if an organization wants to hire more employees or purchase more vehicles to increase efficiency, the accounting officer analyzes the decision and determines whether it will improve efficiency while minimizing costs.
Implementing Accounting Policies
Although accounting policies and procedure vary with organizational needs, they generally help to prevent fraud, theft or errors by maintaining reliable reporting systems and safeguarding assets. The accounting officer enforces these policies, protecting his employer's business. Most accounting officers are charged with the responsibility to review the company’s accounting policies, from time to time, to ascertain their suitability to a dynamic business environment. If the accounting officer feels the policies need some amendments, he collaborates with company management to make appropriate changes.
Supervising Accounting Staff
The effectiveness of the accounting department depends on how well the accounting officer supervises and delegates tasks to his support staff, according to a 2010 article published in the "Journal of Accountancy." In today's business environment, where accounting officers are asked to do more with less staff, accounting officers them by putting management and leaderships skills to work. Besides ensuring that staff members are working efficiently and adhering to their duties, motivating them helps to direct their efforts toward achieving the organization’s goals.
Managing Banking Relationships
Banks play a huge role in the business world, providing banking services and financial solutions to enterprises. Companies need banks for services such as money transmission, brokering, trade support products and asset finance. The accounting officer handles the organization's transactions with various banks, ensuring a smooth working relationship between them. If there is need to forge new banking partnerships, the accounting officer leads the process, often after identify new banking firms that can help the company achieve its financial goals.
Based in New York City, Alison Green has been writing professionally on career topics for more than a decade. Her work has appeared in “U.S. News Weekly” magazine, “The Career” magazine and “Human Resources Journal.” Green holds a master's degree in finance from New York University.