As a management accountant you will be at the heart of an organisation, involved in things such as budgeting, cost control, risk assessment, project management and forecasting.

Management accountants generate and create value through effective decision-making and deployment of resource, and formulate business strategy to create wealth and shareholder value. They may work in a finance function or within specialist departments providing financial advice and information to support strategic decision-making.

Excellent financial analysts, they source and interpret management information and use those date to make decisions. Management accountants also measure organisational performance and help determine future forecasts. They manage costs to reduce waste, manage risk and provide business assurance.

Today's businesses rely heavily on the acumen and skill of management accountants.

Routes into management accountancy

It is not necessary to have a finance degree to become a management accountant. Both of the leading bodies representing professionals in this area, CIMA (Chartered Institute of Management Accountants) and ACCA (Association of Chartered Certified Accountants), offer routes for people who are new to finance.

Once qualified, there are many ways in which your career could develop. Possible positions you could hold include:

• management accountant
• business analyst
• management consultant
• project manager
• financial manager/director
• forensic accountant
• director of operations
• director of business planning
• financial controller
• managing director
• chief executive
• chairman.

Training contract

If you secure a training contract a CIMA- or ACCA-approved training provider, you will likely receive support including paid study costs, paid study leave, mentoring and coaching systems, internal and external courses, and study programmes.

To gain full professional membership you will need to have relevant work experience as well as passing all the exams.

Making applications

Employers offering professional qualification training will attend finance and general careers fairs and will advertise on the websites of the two professional bodies.

Employers look for the following:

• confidence with figures
• excellent oral and written communication
• teamworking skills
• confidence to know where your expertise ends and another team member's begins
• analytical and problem-solving skills
• stamina and the motivation to juggle the demands of examinations and career.

Find out more

• ACCA Qualification
• CIMA Professional Qualification in Management Accounting
• Management accountant job description