If you’re great with numbers, ambitious, and have excellent communication skills, then management accounting might be the role for you. Here’s a quick guide to the role and what you need to qualify.
What does a management accountant do?
A management accountant plays a key role in helping organisations make informed financial decisions. In a business, a management accountant will often take overall responsibility for the accounts and look for ways to improve profitability.
If you were a management accountant, some daily responsibilities may include:
- Analysing financial performance
- Identifying and managing risk
- Tracking spending and setting budgets
- Preparing accounts
- Financial forecasting
- Formulating business strategies
Why choose this career path?
This role can truly open doors for you. As a management accountant you are in demand, across the world. And as someone who is helping to make serious business and financial decisions for a company, you can truly make a difference.
Not only this, but a management accountant role role be seen as a stepping stone. Many management accountants move on to become a finance director, management consultant or even CEO*.
What qualifications do I need?
It’s not essential to have a degree, but you will need to have a relevant professional qualification.
The most recognised route is by becoming a Chartered Management Accountant through CIMA’s CGMA Professional Qualification. This qualification is globally recognised for any career in business, so it’s particularly ideal if you aspire to work as a senior management accountant.
If you have an accountancy or finance degree, or are AAT qualified, you may be eligible to start at the CGMA Professional Qualification. However, we encourage you to check your recommended entry point with CIMA’s exemption calculator. If you have no prior experience or qualifications, the CIMA Certificate in Business Accounting level can provide you with the knowledge to progress your career, or the AAT qualification is also a great place to kickstart your studies for most beginners.
What skills do I need?
You will need to have a high level of numeracy amongst other vital skills, such as:
- Commercial awareness and an interest in business
- Excellent oral communication skills to explain complex financial information in a clear manner
- Excellent written communication skills for reporting and analysis
- Strong interpersonal skills and the ability to work as, and lead, a team
- Logical thinking, as well as analytical and problem solving skills
- Ability to work under pressure and to very tight deadlines
This list isn’t exhaustive but gives you a good idea of what you need to be able to do to become a successful management accountant.
What could I earn as a management accountant?
The average salary for a management accountant in the UK is between £38,000 and £63,000 (as of April 2025)**. Your salary is often determined by factors such as location, company, experience and qualifications.
Interested in becoming a management accountant?
If you’re ready to kickstart an exciting career, check out our CIMA courses for information about becoming a Chartered Management Accountant, and what you’ll need to do to become qualified. Alternatively, contact our Student Services team at studentservices@kaplan.co.uk and they can guide you through the next steps.
*https://nationalcareers.service.gov.uk
**Reed.co.uk Average salary checker