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Management accountant

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Management accountants look after a company's finances and find ways to improve profitability.

Salary, a pound sign Salary: £25,000 to £100,000 average per year
Hours, a clock face Hours: 35 to 40 per week

1. Entry requirements

You must complete training with one of the professional accountancy bodies like:

2. Skills required

You'll need:

  • 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

4. Salary

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: 13 September 2018