Management accountant

Management accountants look after a company's finances and find ways to improve profitability.

Average salary (a year)

£25,000 Starter


£100,000 Experienced

Typical hours (a week)

37 to 39 a week

You could work

between 8am and 6pm

How to become a Management accountant

You can get into this job through:

  • getting a professional qualification

Other routes

To become an accountant, you must complete training with one of the professional accountancy bodies. Although each professional body includes some company financial management in their training, many management accountants choose to qualify with the Chartered Institute of Management Accountants (CIMA).

CIMA training involves two stages:

  • CIMA Certificate in Business Accounting – an entry-level qualification, with five exams
  • CIMA Professional Qualification – the second stage of training, with ten exams

Your starting point will depend on your previous qualifications and work experience.

You do not need any set qualifications to begin studying for the CIMA Certificate in Business Accounting, although you'll need a good standard of maths and English. You can study full time, part time or by distance learning.

See CIMA for more details about the Certificate.

To move on to the Professional Qualification, you'll need to complete the Certificate or already hold a relevant qualification, recognised by CIMA, which gives exemptions to some of the exams. Relevant qualifications include:

  • an accountancy or business-related degree or postgraduate qualification
  • Association of Accounting Technicians (AAT) Technician level
  • a professional qualification from another accountancy body

You can find out more about qualifying routes, training providers and exemptions from CIMA.

Some management accountants choose to train with the Association of Certified Chartered Accountants (ACCA), taking the business management modules instead of audit and taxation options in the final part of their training. The ACCA has more details.

The Institute of Financial Accountants (IFA) offers training in financial management. Training is at Technician, Associate and Fellow levels, but not to chartered level. The IFA has further details.

More information

Further information

You can get more information from the Institute for Chartered Accountants in England and Wales

What it takes

Skills and knowledge

You'll need:

  • knowledge of economics and accounting
  • maths knowledge
  • to be thorough and pay attention to detail
  • administration skills
  • analytical thinking skills
  • the ability to work well with others
  • ambition and a desire to succeed
  • the ability to use your initiative
  • This job requires a thorough understanding of computer systems and applications.

What you'll do

Day-to-day tasks

Your day-to-day tasks may include:

  • preparing financial statements and accounts
  • monitoring spending and budgets
  • analysing the company's financial performance
  • forecasting and planning future spending and profits
  • recommending ways to reduce costs and increase profits
  • making business decisions
  • auditing departments in your company
  • preparing company reports for outside organisations
  • managing a team of accountants
  • overseeing the company's payroll, credit control and bookkeeping systems

Working environment

You could work in an office.

Career path and progression

With experience, you could become a senior manager or finance director, or the chief executive of a company. You could also become a self-employed management consultant.

You could offer accountancy services in private practice if you register with CIMA.

Training opportunities

Apprenticeships In England

EY Tax Apprenticeship

  • Wage : Competitive salary
  • Location: Birmingham B4 6HQ

ACA Audit Graduate Apprentice

  • Wage : £432.53 Weekly
  • Location: Reading RG1 1PL

Courses In England

Are you interested in becoming a Management accountant?

Search for training courses near you.

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