Edgewater College
Finance Manager Kaiwhakahaere Pūtea
Finance managers oversee the major financial operations of an organisation.
Employers prefer to hire finance managers who are registered with a professional body such as Chartered Accountants Australia New Zealand (CA ANZ) or CPA Australia.
To become a Chartered Accountant (CA) or a Certified Practising Accountant (CPA) you must:
- complete a degree from an approved university
- complete three years of professional experience
- complete qualifications set by CA ANZ or CPA Australia.
- Chartered Accountants Australia New Zealand website - information on becoming a chartered accountant
- CPA Australia website - information about becoming a certified practising accountant
Finance managers may do some or all of the following:
- oversee cash flow and account management
- assess and manage risks
- prepare budgets and documents such as annual reports
- undertake financial forecasting
- provide financial advice to the organisation
- make decisions on how to invest the organisation's money
- undertake operational reporting and analysis to ensure the organisation achieves financial targets
- monitor and report on financial trends
- supervise the finance team
- ensure policies, procedures and legal requirements are followed correctly.
Useful Experience
Useful experience for finance managers includes:
- financial or accounting experience
- management experience.
Personal Qualities
Finance managers need to be:
- able to lead others
- able to think critically and analytically
- accurate with high attention to detail
- strong communicators
- confident decision-makers.
Skills
Finance managers need to have knowledge of:
- finance and accounting theory
- budgets, financial modelling and financial reporting
- computer and accounting software.
Conditions
Finance managers:
- usually work regular business hours, but may work evenings or weekends to meet deadlines
- work in offices, but may travel to visit clients.
Subject Recommendations
A tertiary entrance qualification is required to enter further training. Useful subjects include accounting, economics, business studies, English and maths.
Related Options
Finance Managers can earn around $87K to $117K per year.
Pay for finance managers varies depending on where they work and who they work for.
- New finance managers usually earn $87,000 to $117,000 a year.
- Finance managers with experience can earn between $110,000 and $170,000 a year.
Source: Hays, 'FY 2023/24 Salary Guide', 2023.
Finance managers may progress to become managing directors or chief executives.
Years Of Training
3 years of training usually required.To become a finance manager you need to have a Bachelor's degree majoring in finance or accounting.
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