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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 1 yr - 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
  • Written skills
  • Stakeholder management
  • Financial analysis
  • Certified practicing accountant

Shortlisted applicants have:

  • 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
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
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...
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
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
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
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...
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...
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
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.
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
Sabre Engineering Pty Ltd
Dubbo & Central NSW
Amazing opportunity to work in farming/agribusiness, with the ability to work in Griffith NSW or remotely - with some time spent in Griffith.
Sabre Engineering Pty Ltd
Wagga Wagga & Riverina
Griffith, NSW. Terrific opportunity to develop your professional HR career while living in a thriving & affordable country region of New South Wales.
The Hassett Group
Melbourne > CBD & Inner Suburbs
Leading retail business seeking experienced and motivated Management Accountant, enthusiastic about fast paced Online and International Retail sphere.
Intuitive Recruitment Pty Ltd
Sydney > CBD, Inner West & Eastern Suburbs
Global Conglomerate & Large Real Estate Investor/Asset Manager. Newly created ANZ Property Business. Broad role. Financial & Management accounting.
Company logo
Source: SEEK job ads and SEEK Profile data
Source: SEEK job ads and SEEK Profile data