Continuing our series of looking at finance jobs, in this article we are going to look at Management Accountants. The role of a Management Accountant is often best suited to individuals with strong problem solving skills within financial situations. They will be expected to use upto date financial data to find ways to cost save, aid growth and profitability. Recommended changes can be anything from changing a supplier to introducing new procedures to the business.
A Management Accountant can work in house for an individual client or work for an accountancy firm, where their services will be offered to multiple clients. The training and benefits packages are often what help potential candidates choose where to work. Tasks and activities a Management Accountant will perform will range from preparing financial documents and statements, keeping check of spending, cutting costs, helping in financial decisions and providing general financial help to departments and managers.
Businesses will use Management Accountants to make sure they are following financial governance requirements and regulations. Depending on the size of the business that the Management Accountant works for, they may have a team to help them in their duties.
The role requires candidates to work traditional business hours, but at the end of each month and year, it tends to get busy and they will be required to work some extra hours. Skills that recruiters will look for in Management Accountants include good analytical skills, maths skills, computer skills, problem solving, understanding of business, attention to detail, presentation skills and good team working skills. Management Accountants are expected to either have professional qualifications or be working towards gaining them.
The most popular accountancy body in this line of work is the CIMA, but there are another five institutes you can also qualify with.
Fully qualified Management Accountants need to have passed their exams and have three years work experience. To get a full CIMA accreditation, they will need to pass 14 exams.
Once individuals become fully qualified they will become very popular and in demand. There are many paths they can take that will lead to lucrative career opportunities. Trainees in this line of work can earn up to £26,000 but as soon as they pass their exams, then can earn around £45,000. More senior Management accountant jobs can expect a salary of up to £100,000 and great bonuses. For more information on Management Accountant jobs speak to a finance recruitment specialist.