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How to become a Management Accountant

Management Accountant

Career progression and salary expectations for a Management Accountant

1

Accountant

| Up to £35,000
2

Management Accountant

| Up to £50,000
3

Finance Director

| Up to £100,000

The role of a Management Accountant

All about the money? You should become a Management Accountant…  Management Accountants are in charge of a company’s finances, taking overall responsibility for their accounts and looking for ways to improve profitability.Their role differs slightly from other accounting positions due to the fact that they work in-house for one company, rather than managing multiple clients, and because they head up a team of other finance professional as part of their responsibilities.Day-to-day tasks for a Management Accountant could include:
  • Preparing accounts
  • Tracking spending and setting budgets
  • Formulating business strategies
  • Analysing performance
  • Identifying and managing risk
  • Financial forecasting
To become a Management Accountant, it takes more than a head for numbers. To be successful in this position, the ability to identify patterns and spot trends in data, are absolutely essential.It’s all about being able to see the big picture, and using what you’ve reported on to inform the forecasts which will help the business to grow. If you’re more interested in simply reporting on profit and loss, this isn’t the right role for you.Other essential attributes for a Management Accountant include:
  • A natural aptitude for analytics
  • Attention to detail
  • Excellent problem solving skills
  • Professionalism
  • Curiosity
  • Discretion
  • Global business awareness
"Surprisingly, I never really set out to become a Management Accountant. I never went to university, but always really wanted to do something with maths. So I looked up a few courses, and started studying for my CIMA Certificate in Business Accounting, alongside an entry-level bookkeeping role. I’m now a CIMA qualified professional – meaning I’m officially a certified Management Accountant. The best part of my job? Knowing that all the work and reporting I do directly feeds in to the board, and they use it to help the business get bigger and better. I also quite like managing a team. But I think that’s more of an ego thing…"

Get qualified as a Management Accountant

You won’t necessarily need a degree to become a fully-qualified Management Accountant. However, you will need a fair level of experience, and a AAT Level 2 Certificate. For anyone looking to make the move, getting a certification such as AAT Level 3 is also a great place to start.

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