Management Accountant

What is management accounting?

Management accountants provide business data and analysis to managers within organisations to assist in business decision-making and control. The focus is on the analysis and reporting of a company’s financial position in order to provide insight into business performance.

Specifically, you will provide the monthly management accounts, and budgets and forecasts to aid business planning.  You will also be involved in cost analysis and cost-reduction projects, competitor analysis, variance analysis, tender preparation and review, strategic planning, long and medium term planning, as well as investor appraisal.

Why choose management accounting?

This is a highly commercial role interacting with different areas of the business. You will not only analyse historical data but will provide information on what the business needs to do going forward to meet expectations. As a result you are very much considered to be a finance business partner and will be expected to offer an opinion on your analysis.

Career progression

There are two main paths for a management accountant to follow.  Progressing to Head of Financial Planning and Analysis is a route which allows you to access a more sophisticated reporting and analysis environment. The alternative for many management accountants is to ultimately progress to a Financial Controller role and become Finance Director. If this is your medium to long-term aim, it is recommended that you also consider a role in financial accounting. The role of a management accountant is also transferable to financial services up to manager level.

Who should become a management accountant?

This is a core role for CIMAs. Commercially minded accountants with strong modelling and analysis skills will be suited to this role. Interaction with finance and non finance professionals on a regular basis requires excellent communication skills as you prepare, interpret and communicate a variety of reports for your portfolio of internal clients.

All editorial supplied by Robert Walters - specialists in the recruitment of finance professionals into blue chips and SMEs, recruiting from part qualified and newly qualified roles through to director level.