Job description

The primary purpose of a Management Accountant is to use the principles of accounting to analyse and report on key financial information to ensure that a company or organisation's management has all the financial data necessary to make well judged decisions to ensure future stability, growth and profitability.

Management Accountants play an important part in safeguarding the future of a company by investigating and analysing how a business is performing and providing advice on how to deal with or avoid problems, adapt to changing circumstances or requirements and to improve a business' financial position.

Usually working within a finance function in larger organisations, Management Accountants often manage teams providing assistance in gathering and analysing the financial data required for regular monthly reporting. In a smaller organisation, Management Accountants may work alone as part of a general management team.

Duties include:

• Creating and implementing (where necessary) the systems and processes required to produce regular reporting packs which typically include monthly profit and loss accounts, budgets and forecasts, variance analysis and cash flow.
• Making a contribution to decision-making from a Finance standpoint and similarly influencing short and long term business strategy.
• Corporate governance, internal controls and risk management.
• Working with non financial managers and colleagues to aid their understanding of financial information.
• Communicating financial information across the business.

The duties of a Management Accountant vary according to the size of organisation or business and in larger firms some Management Accountants work in advisory roles.

Qualifications

A number of professional accountancy bodies offer training, with perhaps the most well known being the Chartered Institute of Management Accountants (CIMA). In order to gain Chartered Management Accountant status, you must first of all complete the CIMA Certificate in Business Accounting or another exempting qualification, pass the nine exams from the CIMA Professional Qualification then gain three years' practical and relevant experience before finally passing TOPCIMA, the Test of Professional Competence in Management Accounting.

Salary

Trainee Management Accountants can expect to earn upwards of £20,000, depending on experience and location.

Fully qualified Management Accountants salaries also vary greatly depending on experience and location, starting at £30-£35,000 per annum to anywhere between £50-100,000 for senior roles.

Recent salaries advertised on TopFinancialJobs include £41-50,000 per annum for a qualified Management Accountant working in the public sector in London, £250-300 per day for a Management Accountant working on contract as an Assistant Head of Provider Services in the NHS in the West Midlands, £22-25,000 for a part qualified Assistant Management Accountant working in industry in Manchester to £55-75,000 for a qualified Senior Management Accountant working at a leading investment bank in the City.

Are you a Management Accountant? Would you like to contribute to our "...Day in the Life of..." series? Email us at info@topfinancialjobs.co.uk for more details.