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Management Accountant

Management Accountant

Management Accountants are futurists who drive business strategy to generate and preserve value.

What's it like to be a Management Accountant?

Management Accountants are responsible for the sourcing, data analysis, communication and use of financial and non-financial information to make decisions that will affect the future of an organisation.

Tasks and duties

  • Collating information such as revenue, cash flow and outstanding debts.
  • Using financial and non-financial data to formulate a complete picture of how the business is going.
  • Advising stakeholders on the financial implications of significant decisions, business strategy and monitoring risk.
Combining skills in accounting, finance, management and business, Management Accountants assist in improving profitability and growth for firms and organisations.
The job responsibilities of a Management Accountant may vary widely depending on the place of employment and role within the company.

What can I earn as a Management Accountant?

The most common salary  for a Management Accountant is between $85k and $95k
Source: SEEK job ads and SEEK Profile data

How to become a Management Accountant

A bachelor's degree in the field of accounting is the most common requirement to work as an accountant, and a bachelor-level degree is required to be eligible for entry into any of the three professional accounting bodies that regulate and accredit the accounting industry in Australia.
  1. Complete a qualification in the field of accounting. Courses such as a Bachelor of Accounting or a Bachelor of Commerce are generally three-year courses, open to anyone over 17 years who has completed year 12 with an appropriate Universities Admission Index.
  2. Complete a CIMA (Chartered Institute of Management Accountants) Certificate in Business Accounting. If you have a relevant degree like accounting or business, you may be entitled to exemptions from some CIMA exams, which will allow you to progress onto the professional qualification sooner.
  3. Complete the CIMA Professional Qualification. The length of time this takes will depend on previous study and exemptions, however if you hold a masters or MBA in accounting, you'll just need to pass the CIMA gateway exam, which is a three-hour computer-based case study exam.

    Once you have completed the CIMA Professional Qualification, you will be awarded the Chartered Global Management Accountant (CGMA) designation.

  4. There are numerous opportunities for management accounts; consider becoming a finance director, chief executive, management consultant or running your own business.

Explore Management Accountant qualifications

Management Accountants are in demand across a wide range of industries. Find out what it's like to work for common employers in your state.

Duration 3 yrs - 6.5 yrs
16 institutions offering this qualification
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Duration 1 yr - 6 yrs
27 institutions offering this qualification
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Duration 2 yrs - 7 yrs
34 institutions offering this qualification
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Source: SEEK job ads and SEEK Profile data

What skills are employers looking for?

Employers want:

  • Reporting skills
  • Analysis skills
  • CA/CPA
  • Budgeting and forecasting experience
  • Variance analysis skills
  • Reporting
  • Written skills
  • Stakeholder management
  • Financial analysis
  • Certified practicing accountant

Shortlisted applicants have:

  • CPA
  • Financial reporting experience
  • Financial analysis skills
  • Forecasting experience
  • MYOB
  • Certified practicing accountant
  • Ms office proficiency
  • Accounting
  • Time management
  • Thoroughness
Source: SEEK job ads and SEEK Profile data

How do Management Accountants rate their role?

Latest reviews from 25 Management Accountants surveyed on SEEK

Latest reviews

4 out of 5Feb 2018
Reviewer's Qualification
Bachelor Of Commerce
Experience
5 - 9 years
Organisation size
Large (200+ employees)
Specialisation
Not applicable
The good things
Role is challenging and constant
The challenges
Challenging to learn new things
Read more
4 out of 5Feb 2018
Reviewer's Qualification
MBA
Experience
10+ years
Organisation size
Large (200+ employees)
Specialisation
Strategic Budget Analysis
The good things
A variety of analysis
The challenges
A very rewarding career
Read more
3 out of 5Feb 2018
Reviewer's Qualification
Bachelor of Commerce &a Administration
Experience
0 - 4 years
Organisation size
Large (200+ employees)
Specialisation
Management Accounting
The good things
You will meet lots of different people as it is a high contact job. You will work with the business managers closely as you work to understand their business and work towards providing meaningful fina...
The challenges
The challenges in my role are the fact that due to it being heavily reliant on month-end processes, each month can seem very similar. However between month-ends are the time where you can have more va...
Read more
Rating:4
Date received:Feb 2018
Accounting in a dynamic world
Reviewer's Qualification:CPA
Experience:10+ years
Organisation size:Large (200+ employees)
Specialisation:Not applicable
The good things:Not only accounting but able to assist my company with potential yield improvements. Furthermore a good challenge in understanding the organisational process
The challenges:Understanding areas for improvement
Rating:4
Date received:Feb 2018
Management Accounting is taxing but rewarding
Reviewer's Qualification:Chartered Accountant
Experience:10+ years
Organisation size:Medium (20-199 employees)
Specialisation:Accounting
The good things:As a Management Accountant you get to work for a diverse range of businesses
The challenges:Challenge of Management Accounting is understanding a wide range of business aspect and reporting to a wide range of Stakeholders
Rating:4
Date received:Feb 2018
Management accounting is challenging but in a good way
Reviewer's Qualification:Bachelor of Business
Experience:0 - 4 years
Organisation size:Medium (20-199 employees)
Specialisation:Finance
The good things:The role involves collaborating with the entire organisation, dissecting data and developing reports
The challenges:Understanding needs of each department head is different and hence involves tackling requirements from different angles
Rating:4
Date received:Feb 2018
Management accounting can be challenging but rewarding.
Reviewer's Qualification:Bachelor of Business
Experience:5 - 9 years
Organisation size:Small (1-19 employees)
Specialisation:Not applicable
The good things:The opportunity to work with closely with the directors/ceo on the specific goals of the business and implement controls and strategies to achieve such goals is very rewarding.
The challenges:At times it can be like putting together one big puzzle. The availability of relevant information can at times be a challenge. However, once a task has been completed, it can bring with it a great sense of achievement and job satisfaction.
Rating:5
Date received:Feb 2018
Being a management accountant exceeds all expectations
Reviewer's Qualification:Bachelor of accounting sciences
Experience:10+ years
Organisation size:Medium (20-199 employees)
Specialisation:Costing and budgeting
The good things:The job satisfaction is high, since key management relies on your expertise to come to important decisions
The challenges:The challenges are using your expertise as well as gut feel when preparing budgets and forecasts, you need to know your industry well and sometimes its daunting to know people will be making lifechanging decisions based on your input
Rating:5
Date received:Feb 2018
Accounting distinctions
Reviewer's Qualification:Bachelor of Commerce
Experience:5 - 9 years
Organisation size:Medium (20-199 employees)
Specialisation:Not applicable
The good things:There often are organisations that do not understand the difference between a management Accountant and financial Accountant. Always be clear on the role before taking it on.
The challenges:Being able to play the political games of managing finances
Rating:4
Date received:Feb 2018
Management Accounting is an interactive Role
Reviewer's Qualification:Bachelor of Accounting
Experience:5 - 9 years
Organisation size:Large (200+ employees)
Specialisation:Not applicable
The good things:Management Accounting provides an opportunity to develop tools and financial models for the business to use to make strategic decisions. It is reporting, financial modeling, business partnering and analysis which is suited to anyone who wants to know the ins and outs of a business.
The challenges:Variance analysis can be tedious.
Rating:4
Date received:Feb 2018
Management accountant = business partnering
Reviewer's Qualification:Master of Business
Experience:5 - 9 years
Organisation size:Medium (20-199 employees)
Specialisation:Finance
The good things:Stakeholders engagement, understanding business and operation
The challenges:Ability translates number into more value adding information to business
Rating:4
Date received:Feb 2018
Management accountant in review ..
Reviewer's Qualification:Bachelor of business
Experience:5 - 9 years
Organisation size:Medium (20-199 employees)
Specialisation:Not applicable
The good things:Salary, diversity of jobs, work-life balance
The challenges:Job vacancies, you only specialise in one area which means you’re limited to what you can apply for
Rating:4
Date received:Feb 2018
Good to be in control
Reviewer's Qualification:CPA
Experience:10+ years
Organisation size:Medium (20-199 employees)
Specialisation:Not applicable
The good things:Contributing to the decision process of the business
The challenges:Very demanding
Rating:3
Date received:Feb 2018
Not just a bean counter
Reviewer's Qualification:Graduate diploma of chartered accounting
Experience:5 - 9 years
Organisation size:Large (200+ employees)
Specialisation:Not applicable
The good things:This role provides you with exposure to a diverse range of stakeholders at different level and lets you use your analytical skills and professional knowledge to provide advice to aid decision making.
The challenges:It is hard to specialise and stand out in this role as it is fairly generic
Rating:5
Date received:Feb 2018
Mgmt Accg enables you to interact with the business
Reviewer's Qualification:Chartered Accountant
Experience:0 - 4 years
Organisation size:Large (200+ employees)
Specialisation:Not applicable
The good things:Building relationships with people and getting an understanding of how the business works through these relationships
The challenges:Lack of communication and not being involved in business decisions until the last minute
Rating:5
Date received:Feb 2018
Compile the numbers and then tell the story
Reviewer's Qualification:CPA designation
Experience:0 - 4 years
Organisation size:Large (200+ employees)
Specialisation:Finance
The good things:This is a great role for finance types that like people and business as much as numbers. This is about crunching the numbers first, but most importantly telling the story of those numbers to the business users
The challenges:There are always time pressures to balance accounting disclosure requirements with more interesting business needs and requirements
Rating:4
Date received:Feb 2018
Accounting is more than just numbers
Reviewer's Qualification:Bachelor of business studies
Experience:0 - 4 years
Organisation size:Medium (20-199 employees)
Specialisation:Finance
The good things:Working with a variety of different people from different departments
The challenges:Extra study to become CA is tough
Rating:4
Date received:Feb 2018
Management accounting involves problem solving and people
Reviewer's Qualification:Graduates diploma in Chartered accountancy
Experience:5 - 9 years
Organisation size:Medium (20-199 employees)
Specialisation:Not applicable
The good things:Management accounting is a challenging career working with a variety of people from different educational backgrounds. You have real impact in the business and can help make a difference to their bottom line. Problem solving skills is critical and rewarding
The challenges:Problem solving, sometimes not working with other accountants, you can be on your own.
Rating:5
Date received:Feb 2018
Management Accountant
Reviewer's Qualification:Postgraduate
Experience:5 - 9 years
Organisation size:Large (200+ employees)
Specialisation:Health
The good things:Contribution to the decision making within the organisation
The challenges:Truly understanding the business
Rating:5
Date received:Feb 2018
Management Accounting is challenging job but interesting too
Reviewer's Qualification:Master of Professional Accounting
Experience:0 - 4 years
Organisation size:Medium (20-199 employees)
Specialisation:Foreign Subsidiaries
The good things:The role is quite interesting and challenging as well. Dealing with foreign subsidiaries has taught me some new aspects in this role.
The challenges:You have to be quite detailed and proper time management is a must. The foreign subsidiary clients can be very demanding.
Rating:4
Date received:Feb 2018
Management Accounting varied and challengingly
Reviewer's Qualification:Bachelor of Commerce
Experience:10+ years
Organisation size:Large (200+ employees)
Specialisation:Aged Care
The good things:Get to work with a variety of different people, analysing, interpreting and communicating lots of different information
The challenges:Inconsistent data, old systems, lack of willingness to listen to what the data is showing
Rating:5
Date received:Feb 2018
Management Accountant is a an exciting job
Reviewer's Qualification:Chartered Management Accountant
Experience:10+ years
Organisation size:Medium (20-199 employees)
Specialisation:Not applicable
The good things:very challenging every day comes up with a different task
The challenges:Trying to forecast with little or information at all
Rating:4
Date received:Feb 2018
Management Accountant is a dynamic and rewarding career
Reviewer's Qualification:CPA
Experience:10+ years
Organisation size:Large (200+ employees)
Specialisation:Finance
The good things:Management accounting combines accounting, finance and management with leading edge system skills needed to drive successful businesses. A management accountant's role includes diverse responsibilities, such as advising managers about the financial implications of projects, formulating business strategies to negotiate a competitive landscape, conducting internal business audits and monitoring corporate spending. Management accountancy is a demanding but rewarding career option that calls for a wide range of skills.
The challenges:Being an management accountant requires strong grasp of maths. But just being good at number-crunching won't cut it; you'll need to be able to see the patterns in data and use past trends to make predictions and guide business decisions. Management accountants have to think big, so an awareness of global business – following the news to see how business decisions, successes and scandals impact markets on the other side of the world – is also essential.
Rating:4
Date received:Feb 2018
Management accounting is a rewarding career
Reviewer's Qualification:Certified Practising Accountant
Experience:10+ years
Organisation size:Medium (20-199 employees)
Specialisation:Not applicable
The good things:The ability to influence the direction of an organisation by ensuring quality and timely financial information can be both challenging and rewarding. A grounding in this field sets you up well to progress to senior management roles through your ability to understand the information and your decision to make good decisions.
The challenges:The challenges include the need to be conversant with diverse systems, remaining current with your knowledge and having excellent interpersonal skills .
Rating:5
Date received:Feb 2018
Management Accounting
Reviewer's Qualification:Bachelors of Commerce
Experience:0 - 4 years
Organisation size:Medium (20-199 employees)
Specialisation:Finance
The good things:Can get involved with various aspects of the business to understand and help with decision-making with regards to budgeting and growth
The challenges:Ever changing and fast paced. Need to give accurate info at any given time that influences decision making
Source: SEEK Role Reviews

What are the job opportunities for Management Accountants?

Find out how the job market is trending

Job opportunities

Management Accountant jobs on SEEK
Source: SEEK

Projected job growth

National increase over next 5 years
4%
2018
2023
Source: LMIP. Accountants
Latest Management Accountant jobs on SEEK
Reo Group
Sydney > Parramatta & Western Suburbs
ASX listed leader in manufacturing is seeking an experienced Management Accountant to join their team and contribute to reporting and analysis.
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Michael Page
Brisbane > CBD & Inner Suburbs
Our client is a professional services organisation in Australia seeking an experienced Management Accountant to join them on an initial accountant.
Slade Group
Melbourne > Bayside & South Eastern Suburbs
An exciting opportunity for a motivated Management Accountant to join a well-known organisation
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Slade Group
Melbourne > Bayside & South Eastern Suburbs
An exciting opportunity for a motivated Management Accountant to join a well-known organisation
Company logo
Source: SEEK job ads and SEEK Profile data

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Source: SEEK job ads and SEEK Profile data

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