What do Management Accountants do?
Job Descriptions August 8, 2013Management accountants are also known as corporate accountants, who work within a certain company. The management accountant’s role is to perform a series of tasks to ensure their company’s financial security; they handle all of the company’s financial matter. Thus, help drive the company’s overall strategy and management.
Management accountants are key figures in determining the success and status of a company. Depending on the individual, some may choose to become a CMA (Certified Management Accountant), which has similar credential to a CPA (Certified Public Accountant), but with a greater concentration on management issues, financial planning, and cost accounting.
Management accountants’ job responsibilities may range widely. Depending on the type of industry, the time of year, your level of experience, and the company themselves; you might find yourself doing any of the following tasks:
• Aiding in strategic planning
• Managing assets to help determine benefits and compensation packages
• Handling taxes
• Budgeting
Management Accounting Career Path
| Entry-Level | Mid-Level | Senior-Level | |
| Type of Roles | • Tax accountant • Junior Internal Auditor • Cost Accountant • Staff Accountant |
• Senior Internal Auditor • Senior Accountant • Accounting Manager |
• Chief Financial Officer (CFO) • Director of Accounting Controller |
| How to Get There | • Strong technology Skills (Particularly in Microsoft Excel) • Bachelor degree in accounting or finance |
• Certified Management Accountant (CMA) • Certified Public Accountant (CPA) • Master of Accountancy (MAcc) • MBA with a focus on accounting |
• MAcc – and/or CMA or CPA Certification • Graduate Degree (MBA) • Knowledge of the industry and United States • Accounting Principles • Solid Management Skills Track record of leadership and excellence in the field All mid-level requirements |
| Description | • Prepare reports for the controller’s department • Help in the budget department • Do tasks involving payroll and receivables, compliance audits, and financial statements • Work under a senior manager or accountant |
• Help manage the general ledger • Complete and review tax returns • Supervise accounting staff • Help create company budgets • Prepare and/or analyze monthly financial information • Assess internal controls • Prepare financial statements |
• Manage relationships with auditors and investors • Build business strategy • Perform financial analysis • Maintain budget • Oversee, train, and hire staff • Coordinate accounting operations • Responsible for part or all of a company’s transactions, actions, and financial status |
