Management accountant

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

In this guide

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

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.

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

Most relevant

  • Accounting - Management accountants prepare financial statements, monitor budgets, and audit departments within their company. A strong foundation in accounting principles – like double-entry bookkeeping, profit and loss accounts, and balance sheets – is essential to everything they do.
  • Mathematics - Management accountants work with numbers constantly, calculating costs, analysing financial data, and forecasting future spending. They use percentages, ratios, and statistical analysis to spot trends and advise on how a business can improve its profits.
  • Economics - Management accountants need to understand how wider economic factors – like inflation, interest rates, and market conditions – affect a company's financial performance. This helps them make informed decisions about pricing, investment, and cost management.
  • Business - Management accountants are closely involved in business decision-making, from setting budgets to planning strategies for reducing costs. Understanding how organisations operate, how markets work, and how different departments fit together helps them give useful financial advice to senior leaders.

Also relevant

  • Computer Science - Management accountants increasingly work with complex financial software, databases, and data analysis tools that require a solid understanding of how systems process and manage information. Some also use spreadsheet programming and automation to handle large datasets more efficiently.
  • English Language - Management accountants write detailed financial reports and present their findings to directors and colleagues who may not have a financial background. Being able to explain complex numbers and recommendations clearly – both in writing and verbally – is a key part of the role.
  • Law - Management accountants need to be aware of financial regulations, tax laws, and corporate governance rules that affect how a company manages its money. Understanding legal frameworks helps them ensure the business stays compliant and avoids costly penalties.

How to become

You can get into this job through:

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

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

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

  • Professional Accountancy or Taxation 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

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.

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).

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