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.
Management Accountant
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.

What can I earn as a Management Accountant?

The most common salary  for a Management Accountant is between $95k and $110k
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.
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Source: SEEK job ads and SEEK Profile data

What are employers looking for?

Employers want:
  • Reporting skills
  • Analysis skills
  • CA/CPA
  • Budgeting and forecasting experience
  • Variance analysis skills
Shortlisted applicants have:
  • CPA
  • Financial reporting experience
  • Financial analysis skills
  • Forecasting experience
  • MYOB
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
4 out of 5Feb 2018
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
Read more
4 out of 5Feb 2018
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
Read more
4 out of 5Feb 2018
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
Read more
4 out of 5Feb 2018
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 s...
Read more
5 out of 5Feb 2018
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 lifechang...
Read more
5 out of 5Feb 2018
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
Read more
4 out of 5Feb 2018
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 a...
The challenges
Variance analysis can be tedious.
Read more
4 out of 5Feb 2018
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
Read more
4 out of 5Feb 2018
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
Read more
4 out of 5Feb 2018
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
Read more
3 out of 5Feb 2018
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
Read more
5 out of 5Feb 2018
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
Read more
5 out of 5Feb 2018
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 busin...
The challenges
There are always time pressures to balance accounting disclosure requirements with more interesting business needs and requirements
Read more
4 out of 5Feb 2018
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
Read more
4 out of 5Feb 2018
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 bott...
The challenges
Problem solving, sometimes not working with other accountants, you can be on your own.
Read more
5 out of 5Feb 2018
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
Read more
5 out of 5Feb 2018
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.
Read more
4 out of 5Feb 2018
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
Read more
5 out of 5Feb 2018
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
Read more
4 out of 5Feb 2018
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 responsibilitie...
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 pred...
Read more
4 out of 5Feb 2018
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 pro...
The challenges
The challenges include the need to be conversant with diverse systems, remaining current with your knowledge and having excellent interpersonal skills .
Read more
5 out of 5Feb 2018
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
Read more
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
6.9%
2017
2022
Source: LMIP. Accountants
Latest Management Accountant jobs on SEEK
Source: SEEK job ads and SEEK Profile data
Source: SEEK job ads and SEEK Profile data