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What is a Head of Group Accounting?
The head of the consolidated financial statements and his team are
responsible for the timely preparation of the individual financial
statements of the subsidiaries of a group, the consolidation and the
consolidated financial statements. He reports directly to the Executive
Board or the members of the management board.
In addition, the Head of Group Accounting advises and supports the
employees in the subsidiaries responsible for the individual financial
statements on the interpretation of the respective accounting
regulations.
The most important things in 5 seconds
- Education: Successfully completed business
studies or comparable qualification
- Starting salary: €80,000
- Top salary: €180,000
- Opportunities for advancement: CFO, Chief
Financial Officer, Commercial Director
Tasks
What does a head of group accounting do?
- Preparation of the consolidated financial statements (monthly/
quarterly/ annually)
- Preparation of the consolidated financial statement report
including comments, notes and management report
- Creation of reports for external interested parties such as
banks
- Special reporting as part of due diligence or M&A processes
- Internal contact for tax law issues of the individual companies
and the group
- Preparation of transfer price documentation
- Contact person for auditors, tax consultants, authorities and
possibly banks
- Expansion and development of the reporting structure of the
subsidiaries
- Contact person for the subsidiaries regarding their accounting
- Cooperation with the controlling of the group and the individual
companies
- Leadership and personal development for the employees of the
team
Education
How does one become the head of group accounting?
- Successfully completed business studies or comparable
qualification
- several years of well-founded experience in the fields of
accounting, bookkeeping, consolidation
- Very good knowledge of the relevant accounting regulations such
as HGB, IFRS, etc.
- Experience in dealing with ERP systems, confident handling of
common software systems such as SAP
- Knowledge of English or knowledge of another foreign language
Salary
How much does a Head of Group Accounting earn?
from 80.000€
up to €180,000
The salary is based on factors such as industry, size of the group
based on sales and number of employees, number of subsidiaries, travel
and the number of employees to be managed, also in the
subsidiaries. Supplementary salary components can include the use of a
company car and additional payments for pension schemes. The salary
range is between € 80,000 and €180,000.
Requirements
What do you expect from the head of group accounting?
A high degree of willingness to communicate is expected from the head
of Group Accounting – combined with absolute conscientiousness and
integrity as well as awareness of the legal consequences that follow
from his actions.
Career
Opportunities for advancement as Head of Group Accounting
The head of group accounting reports to the members of the board of
directors or management and is usually located at the second management
level in the hierarchy. A promotion to the position of CFO, Chief
Financial Officer or Commercial Director is a possible career option,
combined with significantly greater responsibility.
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