Finance Manager vs. Financial Reporting Manager

Attribute	Finance Manager	Financial Reporting Manager
Responsibilities	Overseeing financial activities, analyzing financial data, creating financial reports, managing budgets	Preparing financial statements, ensuring compliance with financial regulations, managing financial reporting processes
Skills	Financial analysis, budget management, strategic planning, leadership	Financial reporting, accounting principles, regulatory compliance, attention to detail
Education	Bachelor's degree in finance, accounting, or related field; some positions may require a master's degree	Bachelor's degree in accounting, finance, or related field; CPA certification may be preferred
Experience	Several years of experience in finance or related field, often in a supervisory role	Experience in financial reporting, accounting, or auditing; experience with financial software

Responsibilities

A Finance Manager is responsible for overseeing the financial health of an organization. They are in charge of creating financial reports, managing investments, and developing strategies to improve the company's financial performance. On the other hand, a Financial Reporting Manager focuses specifically on preparing and analyzing financial statements. They ensure that the company's financial reports comply with regulations and accurately reflect the organization's financial position.

Skills

Finance Managers need to have strong analytical skills to interpret financial data and make strategic decisions. They also need to have excellent communication skills to present financial information to stakeholders and make recommendations for improvement. Financial Reporting Managers, on the other hand, need to have a keen attention to detail to ensure accuracy in financial statements. They also need to have a deep understanding of accounting principles and regulations.

Education

Finance Managers typically have a bachelor's degree in finance, accounting, or a related field. Many Finance Managers also have a master's degree in finance or business administration. Financial Reporting Managers often have a similar educational background, with a strong emphasis on accounting. They may also have certifications such as Certified Public Accountant (CPA) to demonstrate their expertise in financial reporting.

Experience

Finance Managers usually have several years of experience in finance or accounting roles before moving into a managerial position. They may have experience in areas such as financial analysis, budgeting, or investment management. Financial Reporting Managers also have a background in finance or accounting, with a focus on financial reporting. They may have experience in preparing financial statements, conducting audits, or ensuring compliance with regulatory requirements.

Salary

The salary for Finance Managers can vary depending on factors such as the size of the organization and the manager's level of experience. According to the Bureau of Labor Statistics, the median annual wage for financial managers was $134,180 in May 2020. Financial Reporting Managers also earn competitive salaries, with the median annual wage for financial analysts being $83,660 in May 2020.

Job Outlook

The job outlook for Finance Managers is strong, with the Bureau of Labor Statistics projecting a 15% growth in employment from 2019 to 2029. This growth is faster than the average for all occupations. Financial Reporting Managers also have positive job prospects, as companies continue to focus on transparency and compliance with financial regulations.