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Management accountant

Alternative titles for this job include Chartered management accountant

Management accountants oversee a company's finances and find ways to improve profits.

Average salary (a year)

£30,000 Starter

to

£60,000 Experienced

Typical hours (a week)

37 to 39 a week

You could work

between 8am and 6pm

How to become

Explore the different ways to get into this role.

How to become Management accountant

You can get into this job through:

  • a university course
  • an apprenticeship
  • combining work with studying a professional qualification

University

You could do a degree in any subject then apply for a place on a graduate training scheme to work towards a professional accountancy qualification.

If you want to take a more focused route onto a graduate scheme, you could study for an accountancy related degree, like:

  • accountancy
  • accounting and finance
  • business and management
  • maths

Some degree courses may give you exemptions from certain professional accountancy training modules.

Entry requirements

You'll usually need:

  • 2 to 3 A levels, or equivalent, for a degree
  • 4 or 5 GCSEs at grades 9 to 4 (A* to C), or equivalent, including English and maths

More Information

Apprenticeship

You could take your first steps towards a career as a management accountant by applying for place on an apprenticeship, such as:

  • Professional Accountancy Technician Level 4 Higher Apprenticeship
  • Accountancy and Taxation Professional Level 7 Apprenticeship

Entry requirements

You'll usually need:

  • 4 or 5 GCSEs at grades 9 to 4 (A* to C) and A levels, or equivalent, for a higher or degree apprenticeship

More Information

Other Routes

To become a qualified management accountant, you could train with a professional body, for example:

They all have different entry requirements and ways to qualify, so it's important to check with them which is the right route for you. If you already have relevant accounting or business-related qualifications, you may be able to qualify in a shorter time.

More Information

Career tips

Look out for ways to get experience in a company's finance department or with a financial organisation. There may be opportunities to do:

  • work shadowing
  • Easter and summer holiday schemes
  • virtual and workplace internships
  • year in industry placements

These are offered by small and medium-sized businesses, as well as large national companies. They can give you an insight into the career and help you make contacts in the sector.

Further information

You can learn more about working and training in accountancy from the Chartered Institute of Management Accountants (CIMA).

What it takes

Find out what skills you’ll use in this role.

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
  • excellent verbal communication skills
  • to have a thorough understanding of computer systems and applications

What you’ll do

Discover the day to day tasks you’ll do in this role.

What you'll do

Day-to-day tasks

As a management accountant, you could:

  • prepare financial statements and accounts
  • monitor spending and budgets
  • analyse the company's financial performance
  • make business decisions
  • audit departments in your company
  • forecast and plan future spending and ways to reduce costs

Working environment

You could work at a client's business or in an office.

Career path and progression

Look at progression in this role and similar opportunities.

Career path and progression

With experience, you could become a:

  • finance manager
  • chief financial officer
  • finance director
  • chief executive

You might also become a self-employed management consultant or work as a financial business analyst.

Current opportunities

Find apprenticeships, courses and jobs available near you.

Current opportunities

Apprenticeships In England

Accountancy Apprentice

  • Wage: £11,648 a year Annually
  • Location: Enfield, London

Level 3 Accounting Apprenticeship

  • Wage: £11,648 a year Annually
  • Location: THE HYDE, LONDON

Courses In England

CIMA Operational Level 5

  • Provider: DN COLLEGES GROUP
  • Start date: 23 September 2024
  • Location: Doncaster

Accounting

  • Provider: RUNSHAW COLLEGE
  • Start date: 04 September 2024
  • Location: Leyland

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