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Management Accountant Job Profile / Description
Management accountants are concerned with the requirements and uses of accounting information to management within companies, which provides them with the basis to make informed business decisions that allows them to be better prepared within their management and different roles within the company.
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What is the role of a management accountant?
A management accountant’s role involves:
- Advising managers about the latest financial implications of projects.
- Explaining the potential consequences of business decisions for finance.
- Formulating business strategy within budgets.
- Monitoring spending and financial controls.
- Conducting internal business audits.
Are there specific entry requirements?
Most degrees are acceptable for entry, although employers will prefer graduates with qualifications in:
- Accountancy
- Mathematics
- Management
- Business Studies.
Full qualification requires at least three years of relevant work experience. Trainees work towards a CIMA qualification while doing their work experience.
What are the key skills for a management accountant?
Key skills include:
- Advanced maths and computer skills
- An intelligent business understanding
- A strong attention to detail
What is the earning potential?
Trainees usually earn between £21,000 and £26,000 while passing more exams has a big impact on your salary. While as a newly qualified management accountant you can be on around £30,000 to £45,000.
What would my hours be?
Like many other office based roles, you would be expected to work 40 hours week but in such management roles, you may need or choose to work over time.
Is there career progression?
Career progression varies, depending on individual aspirations and abilities and industry roles, however it is possible to progress to a finance/accountancy director position for a major company within 10 to 15 years of qualification.
What Training would I expect to do?
The most popular training for this role comes from the Chartered Institute of Management Accountants (CIMA). You don't need any previous knowledge to begin studying for CIMA, but some maths and English is highly beneficial.
To become a fully-qualified management accountant you'll need to gain three years’ work experience under your belt. As well as this there are 14 exams within the course which cover management accounting, financial management and business management.
Where do I look for management accountant roles?
Simply click on this link to find the latest management accountant roles in your location.
Search for management accountant roles here.
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Browse through other accountancy-related jobs here.
Find out information about other accountancy-related jobs here.
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