Management Accountant Job Description: Top Duties and Qualifications

A Management Accountant, or Managerial Accountant provides appropriate financial support to help companies budget and perform better. Their primary duties include preparing financial forecasts, performing departmental audits and analysing the company’s financial performance. 

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Management Accountant duties and responsibilities

The duties and responsibilities of a Management Accountant vary depending on the nature of the company and the departments in which they’re based. Their main duties and responsibilities usually include:

  • Preparing income statements, balance sheets and other financial documents
  • Measuring the company’s financial performance based on financial records
  • Identifying problem areas and presenting recommendations to company management
  • Supervising the internal accounting team
  • Performing audits of departments within the organisation
  • Overseeing other aspects of financial operations such as bookkeeping and payroll
  • Evaluating and monitoring financial information systems and recommending improvements where needed
  • Communicating and interpreting financial data to non-financial managers
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Management Accountant Job Description Examples:

 

Example 1

Management Accountant Manchester As a result of our continued growth we are now looking for a Management Accountant to join our team. The key purpose of this role is to ensure accurate reporting of all financial information with systems and processes operating effectively. We take the wellbeing of our colleagues seriously, and during the Covid-19 pandemic, Clarity continues to ensure that our clients and colleagues remain safe. With this in mind our staff continue homeworking until it is advised otherwise, where we have opened offices, we have ensured that social distancing and one-way systems are in place. No two days are the same, but on a typical day you will; Download and reconcile bookings from reservation systems Ensure accurate customer billing and recording of cost of sales into finance system Complete month end reporting of P&L Complete month end analytical reviews by comparison to budget and forecast Support in preparation of budgets and forecasts Take ownership of specific balance sheet reconciliations Reconcile sales and cost of sales Work closely with operational teams and assist with queries Support improvement work streams and continuously strive to improve own operating standards and methods in order to meet and exceed targets Become key liaison between Sports team and wider finance team Work on ad-hoc projects and improvements to the Sports finance process Maximise your personal skills, knowledge and experience to positively impact on performance and assist in meeting business goals Adhere to the organisation’s policy and procedures on information security and take whatever actions are required to safeguard data and assets. If this sounds like the opportunity you’ve been looking for then please get in touch, we’d love to hear from you! To be successful in this role you will; Be fully qualified (CIMA, ACCA, ACA) Have experience in working within a management accounts team Demonstrate excellent attention to detail Be computer literate with good knowledge of Microsoft Office, and in particular Excel Have good communication skills Be able to work under pressure and to tight month end deadlines Have knowledge of back office systems Have the ability to work within a team environment to achieve team/department objectives Have the ability to think logically, consider all relevant aspects and carry out basic analysis on information

Example 2

Requisition ID: 1529 Each one of us brings something different to Vistra, working as one team to deliver the right solution.That’s why our clients choose to work with us – the power of our combined skills makes us unstoppable.Vistra offers a unique platform for our clients and our people to seize the world of opportunities.At the heart of everything we do are our core values:Committing to clients, Working as ONE Vistra, Empowering people and Doing the Right thing. Vistra is looking to recruit 2 fixed term Management Accountants for a period of 12 months. You'll be working independently within an international team, preparing monthly management accounts to a high standard for large and small clients. Key responsibilities: Within the UK Management Accounting Department, the successful candidate would work with a Supervisor and Manager in a client facing role, servicing the day to day book-keeping requirements of their portfolio. Working on NetSuite, QuickBooks, Xero, Sage, Oracle, Intacct or Priority, the candidate would be responsible for processing invoices & expenses, varied journal entries including salary journals, processing payments to vendors & reimbursing staff expenses. This also includes the use of employee expense reimbursement software, to include Concur & Expensify. Reporting monthly Management Accounts in the form of an Excel pack with TB, Balance Sheet and P&L. Each control account is accompanied by a full reconciliation and may be translated into multi currencies. The candidate will be responsible for maintaining client cash, forecasting, reporting & preparing bank reconciliations. Use of banking platforms such as Barclays.net, HSBC.net, Silicon Valley Bank, Wells Fargo Bank, Santander, Lloyds Bank, JP Morgan & RBS. VAT Returns, with the successful candidate being responsible for monthly and quarterly filings for their own portfolio. Annual P11d analysis and filing. Liaising with Auditors, Tax teams and other departments/other offices. Day to day calls on Teams and other video conferencing tools with team members, other offices and clients Attributes/Technical Skills: Part-qualified or qualified accountan - AAT, ACCA,CIMA or QBE Minimum of 2 to 3 strong management accoutning experience Good written English Good knowledge of accounting principles An ability to work well under pressure and meet deadlines and a willingness to learn and collaborate within a team. An excellent grasp of Excel is essential with at least an intermediate to high skill level. This senior role will require a strong proactive approach, the ability to work independently and provide knowledge support to more junior team members. A good working knowledge of Xero, QuickBooks, Sage or NetSuite would be a distinct advantage. Knowledge of accounting terms & concepts, understanding of financial regulations, analytical skills, critical thinking skills, good organisation and time management skills. Strong attention to detail Bring Your Whole Self to Work We’re passionate about Diversity and Inclusion at Vistra.We believe that everyone is equal and unique, and by embracing diversity it makes us better company.This creates an environment where anyone, from any background, can do their best work; Vistra is for the ambitious, the the bold. Location: Reading, GB Job Function: Operations Job Segment: Manager, Oracle, Database, ERP, Management, Technology

Example 3

*Job Description* Alocura are a developing business who are seeking a committed and experienced Management Accountant to join our rapidly expanding team. Here at Alocura, we work with Clinical Commissioning Groups (CCGs), Commissioning Support Units (CSUs) Local Authorities and provider organisations to help deliver personalised health and care services effectively and efficiently. We are specialists in innovative solutions that support the implementation of Integrated Personal Commissioning (IPC) and Personal Budgets in Health and Social Care. Using our in-depth knowledge of the sector and our vast experience and expertise in procurement and supply-chain and demand management we help create the right conditions to deliver personal budgets at scale, pace and cost. *Responsibilities* Your role will be to work alongside the Finance Manager and Finance Team, to assist with day-to-day tasks: - · Completing the Management Accounts for both Alocura and My Life · Relevant variance analysis and ad-hoc reports required · Learn and understand the processes within the organisation · If required, to provide cover for the Finance Manager *This role will be working for 5 days a month for one specific week that month. * *What you'll need to succeed* In order to succeed, you will have previous experience of working in a similar role within a similar finance setting. Due to the fast-changing environment, working with a new business is desirable. You will also have: * Attention to detail * The ability to work on your own * The ability to work with information * Positive attitude towards continuous improvement *What you'll get in return* In return, you will have the opportunity to work for a rapidly expanding business and in partnership with a well-respected local charity, namely My Life. You will be an integral part of a growing team who are making a difference to the local and wider community. Salary is up to £32,500 pro rata (dependent upon experience). There are also excellent benefits on offer as well as the opportunity to develop your own career. *What you need to do now* To apply you must be eligible to work in the UK and meet all national safeguarding criteria. Those working for Alocura will need to undertake an Enhanced Disclosure via the DBS. Alocura is an equal opportunities employer. Due to the high volume of applications received, please note only suitable candidates will be contacted. Job Types: Part-time, Permanent Salary: Up to £32,500.00 per year Schedule: * Monday to Friday Work remotely: * No

What does a Management Accountant do?

Management Accountants analyse the historical financial data of a company to estimate future revenues and expenses, create budgets and generate internal reports which are used to make planning decisions. In some companies, the information that the Management Accountant presents is used only within the company. However, in others, they may coordinate with external parties to issue reports that Auditors, shareholders and regulatory agencies will use.

Management Accountant skills and qualifications

A Management Accountant must be detail-oriented and analytical with outstanding maths skills and an in-depth understanding of current accounting principles. They must also have the ability to analyse and summarise complex information. A successful Management Accountant candidate will also have various prerequisite skills and qualifications that include:

  • Knowledge of financial tools 
  • Excellent written and verbal communication skills
  • Management and leadership skills
  • Ability to work well in a team
  • Proficiency with spreadsheet and accounting software programs
  • Organisational skills
  • Good personal interaction skills

Management Accountant experience requirements

Management Accountants must have a strong background in basic accounting and financial management. Previous experience in discounted cash flows, business production processes, financial data processing and bookkeeping is also helpful. Other experience requirements vary based on the role, industry and company. In many cases, junior Management Accountants need one to two years of experience. Mid-level Management Accountant positions typically require have three to five years of experience, while senior-level Management Accountants require over five years of experience in the position. 

Management Accountant education and training requirements

Employers’ education and training requirements may vary. Larger companies may ask for at least a 2:1 degree, as well as high UCAS points and good levels of maths and English. Some companies offer graduate schemes, which can be very beneficial to candidates as they offer the opportunity to earn as they learn. While the Chartered Institute of Management Accountants (CIMA) consider candidates who have HND business and finance qualifications, many employers won’t accept them. Small- and medium-sized businesses may be more flexible. 

A master’s degree is not necessary, but professional qualifications earned in-service are typically necessary for career progression. Entry to training programmes with large businesses can be more competitive than with smaller companies. Large companies usually hire in the autumn, while smaller businesses may hire at any time and advertise locally. 

Management Accountant salary expectations

According to indeed Salaries, a Management Accountant in the UK can earn £36,083 per year, on average. Their actual salary, however, depends on the candidate’s level of experience and education, geographical location, industry and the hiring company. 

Job description samples for similar positions

If you’re not quite looking for a Management Accountant, here are job descriptions for similar positions that you can take a look at: 

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Management Accountant job description FAQs

What is the difference between a Management Accountant and a Financial Accountant?

A Management Accountant prepares financial information to be used internally by the company, while a Financial Accountant prepares accounting statements for external stakeholders such as regulatory bodies and government agencies. Financial Accountants are not concerned with improving an organisation’s profitability, they only produce historical reports.

Who does a Management Accountant report to?

A Management Accountant reports to the Head of the Finance Department, Chief Financial Officer or Chief Operating Officer. 

What makes a good Management Accountant job description?

A good Management Accountant job description provides candidates with information about your company culture and the duties and responsibilities that they will be responsible for on a daily basis. It also includes details about the people they will be working with and the specific skills and qualifications that will enable them to perform their duties effectively. 

What are the working hours of a Management Accountant?

Management Accountants typically work general office hours Monday to Friday, around 40 to 45 hours per week. However, there could be overtime and regular extra hours, especially when there are tight deadlines. Their working hours rarely include shifts or weekends. 

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