Accountant - Management
Put your maths skills to good use as you help a company keep track of its money, bills and payments.
Also known as: management accountant
About the job
What it's like
Are you an organised person who's great with numbers? If so, a career as a management accountant may be your perfect formula for success.
In this role, you'll make sure the business you work for keeps track of its money. Management accountants help the business stay on top of its finances, from paying bills to collecting money owed. You'll also find new ways for the company to grow and make more profit.
You'll work for one specific company – they'll employ you as an in-house (internal) accountant.
Your tasks might include:
preparing regular financial statements and accounts, such as profit and loss reports
monitoring spending, costs and budgets to help analyse the company's financial performance
forecasting and planning the company's future spending and profits
recommending ways to reduce costs and increase profits across the company
carrying out internal audits of various departments
overseeing the company's payroll, credit control and bookkeeping systems
Sometimes, you'll lead a team of other financial professionals. This can include accounting technicians and finance clerks. Management accountants must understand business and be able to clearly explain technical financial information.
Explore more information about this job
Here are some useful links to learn more about this career:
Association of Chartered Certified Accountants (ACCA) – explore the global body for professional accountants
Institute of Chartered Accountants of Scotland (ICAS) – learn how to become a chartered accountant
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Related industries
Many jobs can be done in lots of different industries. We've highlighted the ones we think are most important for this job.
Transport Finance, law and professional services
Top skills
Skills are things you're good at. Whether you know what yours are or not, everyone has them!
It's useful to learn which ones are important in a job so you know the areas you need to brush up on. It can also help you work out if you're suited to a career.
Meta skills
Here are some of the meta skills you'll need to do this job.
- understanding
- analysing
- time management
- developing a plan
- attention to detail
- observation
- working with numbers
- problem solving
- working with technology
- verbal communication
Your skills are important
Our unique skillsets are what make us stand out from the crowd. Learn about each skill in depth and discover what employers look for in your applications and interviews.
Getting in
Explore each section to find more information about getting into this career.
Colleges and universities will list subjects you'll need for entry to a course. Some useful subjects include:
Accounting
Business
Business in Practice
Economics
Maths (Mathematics)
Skills for Work: Financial Services
Foundation Apprenticeship: Financial Services
Foundation Apprenticeship: Accountancy
Applications of Mathematics
You can get a head start in this career by doing a Foundation Apprenticeship in S5 and S6.
You'll get an SCQF level 6 qualification which is the same level as a Higher. You'll also learn new skills and gain valuable experience in a work environment.
Discover what's on offer at your school on Apprenticeships.scot.
There are a few ways you can become a management accountant in Scotland.
Let's explore the routes you can take.
University
A degree may be helpful for getting into this job. You could study subjects, such as:
Accountancy or Accounting
Accounting and Finance
Finance
Business with Accounting
Business and Finance
Economics with Accounting
Economics
Mathematics or Statistics
Business Management
Financial Services
Banking and Finance
Sometimes, you'll need to work towards more professional qualifications once you start work. Although, some degrees will give you exemptions from certain modules that are covered by the course.
Use the My World of Work course search to find degrees.
College
Getting qualifications at college, such as an HNC or HND, could help you progress to more advanced study. Useful subjects include:
Accounting
Business (with finance or management modules)
Financial Services
Administration and IT
Apprenticeships
Modern Apprenticeships (MAs) mean you learn on the job. You get paid and work towards a qualification at the same time. You might want to consider an MA in Accounting.
Graduate Apprenticeships (GAs) are designed for industry. You'll spend most of your time learning on the job but you'll also go to uni. You'll have a job, get paid and work towards a qualification at the same time. You might want to consider a GA in Accounting.
Volunteering in a relevant role can help you build the skills and experience you’ll need to become a management accountant. Search for opportunities on Volunteer Scotland.
Once in the job, you'll probably study further qualifications through one of the accountancy professional bodies.
You'll also work towards Chartered Accountant status while you're doing the job. If you hold a professional accounting qualification, you may be exempt from some parts of the Chartered Accountancy exams.
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