How to start a rewarding career as a Management Accountant
The social, cultural, and economic shifts we’ve witnessed over the past number of years have resulted in a drastic, rapid evolution of the UK’s financial sector.
To remain viable in these transitory times, the industry is relying on the input of skilled finance professionals. Management accountants play a vital part in any business’s financial success—which is why we consistently recruit professionals in this area at Marks Sattin.
For those of you asking yourself, “What does a management accountant do?”, read on.
Not only will we answer that, but we’ll also tell you the qualifications and skills needed to be a management accountant and point you in the direction of some open job listings.
Let’s get started:
Launching a career as a management accountant
What does a management accountant do?
A management accountant’s key responsibilities include preparing budgets, analysing financial reports, forecasting, cost management, and advising on business strategy.
The management accountant is also the person within an organisation who bridges the gap between the raw financial data and other departments. It’s often up to the management accountant to transform financial data into easily digestible reports that can be used by other teams to make informed decisions about the business.
In effect, the work of a management accountant plays a major part in the overall trajectory and success of the business.
The excellent news for anyone interested in a job in this area is that recruitment trends are on high and the demand for management accountants is soaring. This is, in part, because there are a wide variety of industries where management accountants are needed, from corporate finance to public sector organisations.
Qualifications and skills needed to be a management accountant
Although entry requirements for accounting and finance jobs tend to vary from role to role, there are some commonalities. When it comes to management accountants specifically, there are a variety of qualifications and skills needed, which can broadly be looked at under three categories:
- Education: The importance of a degree in accounting, finance, or a related field can’t be understated in this role. Management accountants are expected to be educated at least to a bachelor’s level, and higher-paying jobs are more likely to be given to professionals who have achieved a master’s level of education or higher.
- Professional Certifications: Common certifications like CIMA (Chartered Institute of Management Accountants) or ACCA (Association of Chartered Certified Accountants) can enhance a management accountant’s credibility and help them to secure the most sought-after positions.
The ACCA suggest that the two most useful certifications for someone hoping to pursue a management accountant career are: - Advanced Financial Management (AFM)
- Advanced Performance Management (APM)
- Skills: Successful management accountants tend to have skill sets that span both hard skills—such as analytics and proficiency in financial software—and soft skills, like attention to detail and solid communication.
When it comes to recruiting for more senior positions, management accountants will need to demonstrate extensive competencies, adaptability to new technologies, and shrewd commercial awareness.
Management accountants who demonstrate this level of expertise can go on to work in highly elite positions, where they’re spearheading the overall financial strategies of the firm.
Assistant management accountant: The perfect stepping stone
Many management accountants begin their careers by working up from assistant management accountant positions.
Assistant management accountant roles are an ideal starting point for those looking to break into management accounting, offering the chance to gain hands-on experience in real-life scenarios.
The assistant management accountant’s role is to support the work of their senior colleagues, namely the management accountant. This might involve helping to maintain financial records, compile reports, and contribute to the overarching financial wellness of their organisation.
Find management accountant jobs
Having gained deeper knowledge of what a management accountant does, there should be no doubt that a career in this field is rewarding, challenging, and full of potential.
Take your newfound insights into this strong career path and explore open job opportunities in management accounting with Marks Sattin.
As one of the UK’s premier recruitment brands, we bring extensive industry experience to your job search, helping you find and secure your ideal position. Not only are we committed to positively impacting the companies we recruit for, but also to offering unparalleled support in finding the right roles for our candidates.
