Management accountants aid managerial planning and commercial decision-making tasks by providing appropriate financial information and undertaking related accounts administration.
Using current figures you’ll be expected to look for ways of saving your company money and improving profitability and growth. This could involve small changes like switching suppliers or larger changes like bringing in new procedures.
- preparing reports, budgets, commentaries and financial statements
- undertaking financial administration and internal audits
- liaising with managerial staff and other colleagues
- supervising a team of accounting technicians
- developing and managing financial systems/policies
- negotiating and obtaining finance for major projects
- controlling and forecasting income and expenditure
- creating business strategies to generate shareholder value.
To work as a management accountant you’ll need professional qualifications, or at least be working towards them. For graduates, any degree is accepted, although qualifications in accountancy or mathematical, management or business subjects are very useful.
It’s important to keep your skills up to date throughout your career, even once you are fully qualified. It’s quite common for fully qualified accountants to take an MBA for example.
- Good oral and written communication skills
- The ability to work as part of a team
- Excellent analytical and numerical abilities
- Sound business knowledge
- Accuracy and an eye for detail.