Management accounting is a specific piece of the accounting world that focuses on delivering financial information in a way that helps the managerial staff of a company make decisions. A management accountant must not only be an expert in accounting, but they also must be able to present the data in a practical way that addresses management's challenges.
A management accountant should have an excellent understanding of the functions and operations of management and leadership, so they understand how to present accounting information in a way that is useful for management. The ability to do cost analysis, budgeting, and strategic planning are all integral parts of management accounting. Previous leadership positions are highly recommended. This position takes place during regular business hours in an office setting, although overtime and travel may be necessary.
Certification as a management accountant is necessary for the position; a bachelor's degree in business or accounting is also required, though a master's degree typically is preferred. Three to five years' experience generally is also required.
Management Accountant Tasks
- Monitor preparation of financial records, statements and reports.
- Oversee day-to-day accounting operation activities; manage accountant staff and give technical direction.
- Ensure internal policies and procedures are followed, as well as state and federal regulations.