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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.
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- 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
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
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
How much does a Head of Group Accounting earn?
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.
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.
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.
Madison – South Dakota Job Service
Describes eligibility and application process. Read about program policies of this statewide job training and employment program.
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Features a FAQ about recruitment, posts current job openings, and provides the application form which can be downloaded and printed.
Rapid City – Career Opportunities
Details about the hiring procedure and benefits for City jobs includes contact information and address.