Management Accountant
A Management Accountant is a senior position in a company where your input is likely to impact certain business decisions the company makes as you will be providing financial information to the senior team. This could be information around financial forecasts, reductions in cost or investment opportunities.
Management Accountant
Job Description & Responsibilities
Work as a Management Accountant will be determined based on who you’re supporting. Typical Management Accountant duties include:
- Preparing monthly management accounts from the P&L and balance sheet figures.
- Reconciling the balance sheet items on the trial balance.
- Forecasting reports for cashflow and budgeting.
- Submitting quarterly VAT returns.
- Preparing end-of-year information for businesses accountants.
- Streamlining of internal accounting processes.
- Perform ad-hoc financial analysis as required
Management Accountant FAQ'S
What Skills & Experience Do I Need?
There are many paths to becoming a Management Accountant:
- Professional certification from either: The Chartered Institute of Management Accountants (CIMA), Association of Certified Chartered Accountants (ACCA) OR Institute of Financial Accountants (IFA)
- University degree in Accounting, Business, or Mathematics
However, formal qualifications aren't the only requirements. You will also need to demonstrate:
- Strong knowledge of financial accounting principles and practices
- Excellent analytical and problem-solving skills
- Strong attention to detail and accuracy
- Ability to work independently and meet deadlines
- Excellent communication and interpersonal skills
What's the Average Financial Controller Salary?
The average salary for a Management Accountant is £33,000, although this figure can fluctuate depending on location and experience. As you gain more experience and become more qualified, you will find that your overall salary can increase to over £80,000.
