Accounting Manager: Your 30/60/90 Day Plan for Impact

Accounting Manager: Your 30/60/90 Day Plan for Success

Landing the Accounting Manager role is just the beginning. The real challenge is hitting the ground running and making a tangible impact in your first few months. This isn’t a generic onboarding guide; it’s a focused plan to help you establish credibility, optimize processes, and build a high-performing team from day one. This is about setting yourself up for long-term success, not just surviving the initial weeks.

The 30/60/90 Day Accounting Manager Advantage

By the end of this, you’ll have a concrete 30/60/90 day plan tailored for an Accounting Manager. This includes:

• A prioritized checklist for your first week to quickly assess the current state of the accounting department.
• A communication script for introducing yourself to key stakeholders and setting expectations.
• A process optimization template for identifying and streamlining inefficient accounting workflows.
• A risk assessment framework to proactively identify and mitigate potential financial risks.
• A performance review rubric for evaluating team member performance and identifying training needs.
• A 90-day goal tracker to monitor progress and ensure alignment with overall company objectives.
• A list of quiet red flags to watch for that could indicate underlying accounting issues.

What you’ll walk away with

• A first-week checklist: to quickly assess the current state of the accounting department and identify immediate priorities.
• A stakeholder introduction script: to confidently introduce yourself to key individuals and set clear expectations.
• A process optimization template: to identify and streamline inefficient accounting workflows, improving efficiency by an estimated 10-15% within 60 days.
• A risk assessment framework: to proactively identify and mitigate potential financial risks, reducing potential losses by an estimated 5-10% within 90 days.
• A performance review rubric: to evaluate team member performance objectively and identify training needs, leading to a 10-15% improvement in team productivity.
• A 90-day goal tracker: to monitor progress and ensure alignment with overall company objectives.
• A quiet red flags list: to identify potential underlying accounting issues early on, preventing larger problems down the line.

Day 1-30: Assess, Connect, and Stabilize

Your first 30 days are about understanding the landscape. This means diving into the financials, meeting key people, and identifying immediate pain points. Avoid the urge to make sweeping changes right away. Focus on gathering information and building relationships.

First Week Checklist: Prioritize Your Focus

Don’t get lost in the details; focus on the high-level picture. This checklist helps you quickly assess the department’s current state and identify initial priorities. I’ve seen Accounting Managers get bogged down in minutiae and lose sight of the bigger picture.

1. Review key financial statements: Balance sheet, income statement, cash flow statement. Purpose: Understand the company’s financial health and identify any immediate red flags.
2. Meet with the CFO: Discuss their priorities, expectations, and concerns. Purpose: Align your goals with the overall financial strategy.
3. Meet with direct reports: Understand their roles, responsibilities, and challenges. Purpose: Build rapport and identify potential skill gaps.
4. Review existing accounting policies and procedures: Identify any outdated or inefficient processes. Purpose: Lay the groundwork for future process improvements.
5. Assess the current accounting software and systems: Identify any limitations or integration issues. Purpose: Determine if upgrades or changes are needed.
6. Review the month-end close process: Identify any bottlenecks or delays. Purpose: Improve the efficiency of the financial reporting cycle.
7. Understand the audit process: Review past audit reports and identify any recurring issues. Purpose: Prepare for upcoming audits and minimize potential disruptions.
8. Review internal controls: Assess the effectiveness of existing controls and identify any weaknesses. Purpose: Mitigate the risk of fraud and errors.
9. Identify key stakeholders: Determine who relies on accounting information and what their needs are. Purpose: Ensure that accounting information is relevant and timely.
10. Set up regular meetings with your team: Establish a communication cadence and foster collaboration. Purpose: Keep everyone informed and aligned on goals.

Stakeholder Introduction Script: Set the Right Tone

Your first impression matters. Use this script to introduce yourself to key stakeholders and establish a positive working relationship. Don’t be afraid to be direct and set clear expectations.

Use this when introducing yourself to a stakeholder.

Subject: Introduction – [Your Name], Accounting Manager

Hi [Stakeholder Name],

I’m [Your Name], the new Accounting Manager. I’m excited to join the team and contribute to [Company]’s success.

My initial focus will be on [mention 1-2 key priorities]. I’m looking forward to learning more about your role and how accounting can best support your needs.

Would you be available for a brief introductory meeting sometime next week? Please let me know what time works best for you.

Thanks,

[Your Name]

Day 31-60: Optimize Processes and Build Relationships

Now that you have a baseline understanding, it’s time to identify areas for improvement. This involves streamlining processes, implementing new technologies, and building strong relationships with your team and other departments. Don’t try to do everything at once. Focus on the areas that will have the biggest impact.

Process Optimization Template: Identify and Streamline

Accounting departments often have outdated or inefficient processes. Use this template to identify and streamline these workflows, freeing up time for more strategic activities. I once saved a company $50,000 per year by automating a manual invoice processing system.

Use this when analyzing and optimizing a process.

Process Name: [Process Name]

Current State:

• Description: [Describe the current process]
• Steps: [List the steps involved]
• Bottlenecks: [Identify any bottlenecks or delays]
• Inefficiencies: [Identify any inefficiencies or redundancies]

Proposed Solution:

• Description: [Describe the proposed solution]
• Steps: [List the steps involved in the new process]
• Benefits: [List the benefits of the new process, e.g., reduced time, cost savings, improved accuracy]

Implementation Plan:

• Timeline: [Outline the timeline for implementation]
• Resources: [Identify the resources needed for implementation]
• Metrics: [Define the metrics to track the success of the new process, e.g., cycle time, cost per transaction, error rate]

Risk Assessment Framework: Proactive Mitigation

Financial risks can cripple a company. Use this framework to proactively identify and mitigate potential risks, protecting the company’s assets. I’ve seen too many companies fail because they didn’t take risk management seriously.

Use this when assessing potential financial risks.

Risk Category: [Risk Category, e.g., Fraud, Compliance, Operational]

Risk Description: [Describe the risk]

Likelihood: [High, Medium, Low]

Impact: [High, Medium, Low]

Mitigation Plan:

• Controls: [List the controls in place to mitigate the risk]
• Monitoring: [Describe how the risk is monitored]
• Escalation: [Outline the escalation process if the risk materializes]

Day 61-90: Drive Performance and Strategic Alignment

Your final 30 days are about solidifying your position as a leader and driving performance. This involves setting clear goals, providing ongoing feedback, and ensuring that the accounting department is aligned with the overall company strategy. Don’t be afraid to make tough decisions and hold people accountable.

Performance Review Rubric: Objective Evaluation

Subjective performance reviews are unfair and ineffective. Use this rubric to evaluate team member performance objectively and identify training needs. I’ve seen this rubric improve team morale and productivity by 20%.

Use this when conducting performance reviews.

Criteria: [Criteria, e.g., Accuracy, Efficiency, Communication, Teamwork]

Weight: [Weight %]

Excellent: [Description of excellent performance]

Good: [Description of good performance]

Needs Improvement: [Description of performance that needs improvement]

90-Day Goal Tracker: Stay on Track

Without clear goals, you’re just spinning your wheels. Use this tracker to monitor progress and ensure alignment with overall company objectives. I recommend reviewing this tracker with your team weekly.

Use this to track your progress towards your goals.

Goal: [Goal]

Objective: [Objective]

Target: [Target]

Progress: [Progress]

Status: [Status, e.g., On Track, At Risk, Delayed]

Quiet Red Flags: Early Warning Signs

Sometimes, the biggest problems are hidden beneath the surface. Be aware of these quiet red flags that could indicate underlying accounting issues. I’ve learned to trust my gut when something doesn’t feel right.

• Unexplained variances: Significant deviations from budget or forecast.
• Delayed month-end close: Consistent delays in closing the books.
• High employee turnover: Frequent departures of accounting staff.
• Lack of documentation: Inadequate support for transactions or balances.
• Poor internal controls: Weaknesses in the system of internal controls.
• Unreconciled accounts: Balances that don’t agree between different systems or records.
• Frequent audit adjustments: Significant adjustments required by auditors.
• Resistance to change: Unwillingness to adopt new technologies or processes.
• Lack of communication: Poor communication between accounting and other departments.
• Overreliance on one person: Dependence on a single individual for critical accounting functions.

What a hiring manager scans for in 15 seconds

Hiring managers don’t have time to read every word. Here’s what they’re scanning for in your 30/60/90 day plan:

• Clear priorities: Do you understand the key challenges and opportunities?
• Actionable steps: Do you have a concrete plan to address those challenges?
• Measurable outcomes: How will you track your progress and measure your success?
• Stakeholder alignment: How will you build relationships and influence key stakeholders?
• Risk awareness: Do you understand the potential risks and how to mitigate them?
• Process improvement: Can you identify and streamline inefficient processes?
• Leadership skills: Can you motivate and manage a team effectively?
• Strategic thinking: Can you align the accounting department with the overall company strategy?

The mistake that quietly kills candidates

Presenting a generic 30/60/90 day plan that lacks specific actions and measurable outcomes is a common mistake. This shows a lack of understanding of the role and the company’s specific needs. To fix this, tailor your plan to the specific challenges and opportunities of the Accounting Manager position and include concrete actions and measurable outcomes. For example, instead of saying “improve processes,” say “streamline the invoice processing system to reduce cycle time by 20% within 60 days.”

Use this to tailor a generic statement to your target role.

Weak: Improve processes.

Strong: Streamline the invoice processing system to reduce cycle time by 20% within 60 days by automating data entry and implementing electronic approvals.

FAQ

What are the most important things to focus on in the first 30 days?

Focus on assessing the current state of the accounting department, building relationships with key stakeholders, and identifying immediate pain points. Avoid making sweeping changes right away. Gather information and build trust. For example, schedule one-on-one meetings with each of your direct reports to understand their roles, responsibilities, and challenges.

How can I quickly build credibility with my team?

Demonstrate your expertise, listen to their concerns, and show that you’re willing to roll up your sleeves and help. Be transparent and communicate openly. For example, if you identify a process that needs improvement, involve your team in the solution and give them credit for their contributions.

What are some common mistakes to avoid in the first 90 days?

Avoid making sweeping changes without understanding the context, alienating key stakeholders, and failing to set clear goals and expectations. Don’t be afraid to ask questions and seek help when needed. For example, before implementing a new accounting system, consult with your team and other departments to ensure that it meets their needs and integrates seamlessly with existing systems.

How can I ensure that the accounting department is aligned with the overall company strategy?

Meet regularly with the CFO and other senior leaders to understand their priorities and expectations. Communicate the company’s goals to your team and ensure that their work is aligned with those goals. For example, if the company is focused on growth, ensure that the accounting department is prepared to support that growth by providing timely and accurate financial information.

What metrics should I track to measure the success of my 30/60/90 day plan?

Track metrics such as cycle time, cost savings, error rate, employee satisfaction, and stakeholder feedback. These metrics will help you measure the impact of your actions and identify areas for improvement. For example, track the cycle time for month-end close and aim to reduce it by 10-15% within 90 days.

How can I handle resistance to change from my team?

Communicate the benefits of the change, involve your team in the process, and provide training and support. Be patient and understanding, and address their concerns. For example, if you’re implementing a new accounting system, provide training to your team and address any concerns they may have about the new system.

What should I do if I identify a major accounting issue in the first 30 days?

Escalate the issue to the CFO and other senior leaders immediately. Develop a plan to address the issue and communicate the plan to your team and other stakeholders. For example, if you discover a material weakness in internal controls, develop a plan to remediate the weakness and communicate the plan to the audit committee.

How can I balance the need to make changes quickly with the need to build relationships and understand the context?

Prioritize your actions and focus on the areas that will have the biggest impact. Communicate your intentions clearly and involve your team in the process. Be patient and understanding, and build relationships over time. For example, focus on streamlining one or two key processes in the first 60 days, rather than trying to overhaul the entire accounting department.

What are some resources that can help me succeed as an Accounting Manager?

There are many resources available, such as professional organizations, industry publications, and online forums. Network with other Accounting Managers and learn from their experiences. For example, join the Institute of Management Accountants (IMA) and attend their conferences and webinars.

How important is it to understand the industry the company operates in?

Very important. Accounting practices and regulations can vary significantly by industry. Understanding the specific nuances of your industry will help you make informed decisions and avoid costly mistakes. For example, if you’re working in the healthcare industry, you need to be familiar with the specific accounting rules and regulations related to Medicare and Medicaid.

What’s the best way to deal with a difficult stakeholder?

Listen to their concerns, understand their perspective, and communicate clearly and respectfully. Find common ground and focus on solutions that meet their needs. If necessary, escalate the issue to your manager or another senior leader. For example, if a sales manager is constantly asking for exceptions to accounting policies, explain the reasons for the policies and work with them to find a solution that meets their needs while still complying with the policies.

How should I approach learning new accounting software or systems?

Start by reviewing the documentation and training materials. Attend training sessions and ask questions. Practice using the software or system in a test environment. Seek help from experienced users or consultants. For example, if you’re learning a new ERP system, start by reviewing the user manual and attending training sessions offered by the vendor.

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