Management accountants look after a company's finances and find ways to improve profitability.
1. Entry requirements
You must complete training with one of the professional accountancy bodies like:
2. Skills required
- excellent maths and IT skills
- analytical ability and a logical approach
- the ability to explain financial information clearly
3. What you'll do
As a management accountant you'll work for a company as an in-house accountant. You could work for almost any type of organisation.
Your day-to-day tasks may include:
- preparing financial statements and accounts
- monitoring spending and budgets
- analysing the company's financial performance
- forecasting and planning future spending and profits
- recommending ways to reduce costs and increase profits
- making business decisions
- auditing departments in your company
- preparing company reports for outside organisations
- managing a team of accountants
- overseeing the company's payroll, credit control and bookkeeping systems
Starter: £25,000 to £31,000
Experienced: £32,000 to £50,000
Highly Experienced: £50,000 to £100,000
These figures are a guide.
5. Working hours, patterns and environment
You'll usually work standard office hours, Monday to Friday. You may work overtime during busy periods, for example the end of the financial year.
6. Career path and progression
With experience, you could become a senior manager or finance director, or the chief executive of a company. You could also become a self-employed management consultant.
You could offer accountancy services in private practice if you register with CIMA.
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Last updated: 11 April 2017