Management Accounting: A career in financial data and advice

A career in Management Accounting promises to be an exciting and fulfilling one. If you enjoy accounting, financial data and helping give advice on the variables, then accounting jobs in this field may just be the thing for you.

What is a Management Accountant and what does the job entail?

A Management Accountant is a mix between an accountant, manager and business strategist who helps inform and advise businesses on various financial implications relating to projects. The combination of all these roles helps ensure a holistic understanding of business and strategy and helps businesses get the best out of each situation.

Management Accounting jobs involve looking to the future, as they analyse and study past performances and indicators in order to understand the possibilities, problems and opportunities facing the business in the future.

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Management Accounting entails advising on all of these and help businesses adapt to change in landscapes and offerings. They do this by helping streamline costs, reduce inefficient expenditure and by implementing effective business strategies.

As a Management Accountant, you would work across all departments and help prepare, develop and understand various financial information, to ensure that all levels of management make the best business decisions involving growth, profit and overall sustainability.

You would help implement and manage financial policies, systems and provide support to those in management who need it. They are also often tasked with the roles of helping in forecasting, cost control, risk and budgeting.

You would also help with overall business strategy by making use of high levels of accounting, management and business strategy principles to best ensure the smooth running of the business and all the aspects involved.

Not limited to this, these types of accounting jobs also entail that you help plan and control financial and cost related activities and have a hand and say in various projects in that regard.

Management Accountant’s are also vital in risk and risk management and understanding the financial implications that risk brings; as well as in helping with enterprise governance, investment management, business valuations and much more.

management accounting

Want to learn more about fascinating and high paced Management Accountant jobs? Read on to see more about the responsibilities you would take on, skills you would need and how to get started on the career path.

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Responsibilities involved in Management Accounting jobs

While roles vary, responsibilities are broad and often include advising management on various projects, conducting risk and other audits, strategising, evaluating and expressing the impact of financial decisions on overall business and strategy.

Management Accounting involves taking on the responsibilities of monitoring business spend, audits, and the business landscape to help inform business decisions. You’ll do this, along with preparing financial statements, ensuring budgets are met, while helping with key strategy, support and advising on various financial elements.

Accounting jobs of this nature will also involve helping to negotiate on key projects, analysing past performance, helping implement corporate governance procedures and look to the future in order to help with business goals.

All this will be done while offering advice and liaising with other key managers and employees to offer suggestions and improvements, while ensuring budget and spending are on track and project deadlines will be met.

Skills needed for Management Accountant jobs

A variety of skills are needed for these accountant jobs and they include an understanding of business, a logical approach, the ability to analyse situations a, strong ethical code and high level of numeracy. The ability to communicate and express ideas and explain complex financial problems to those on all levels of business are also needed.

You’ll also need skills in strategy, planning, project and risk management, as well as the ability to work both within a team, and as a team leader, with all staff members involved in the projects.

jobs for management accountant

Further skills needed for Management Accounting jobs also include an understanding of IT, the ability to organise and work well under pressure, as well as strict adherence to deadlines.

Many other skills are needed but these are often the most crucial to a Management Accountant.

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Workplaces and industries of employment

Management Accountants can be found across workplaces and industries, all over the world. These include, and aren’t limited to tourism, retail, manufacturing, transport, health and consulting.

You can also typically find Management Accountants in banks, tax, insurance and government jobs, helping use their unique skillset to help balance budgets and ensure projects are on tracks.

While workplaces, roles and tasks may differ from industry to industry, salaries generally look range between R231,562 to R698,912 per year. As a professional in these types of accounting jobs you can expect to earn an average of R361,270 per year, depending on your experience and skill level.

Education needed for Accounting Jobs

A variety of training and experience is required to become a Management Accountant and there is a range of universities and institutions in South Africa, which provide related courses effectively training you for accountant jobs in this field.

jobs in accounting

There are several ways to obtain a degree or qualification. This is most often through university and then through the world-renowned Chartered Institute of Management Accountants (CIMA).

Qualifications in Management Accounting make for exciting career choices and the Chartered Institute of Management Accountants (CIMA) allows for a universally recognised qualification.

Chartered Institute of Management Accountants

The Chartered Institute of Management Accountants (CIMA) is a professional accounting body, the largest in the world, and is found in the United Kingdom. It offers the chance to train and qualify as a Management Accountant and have your qualification recognised the world over. There are over 200 000 students and members in over 175 countries around the world.

Once you have obtained a qualification from the Chartered Institute of Management Accountants, you are able to have the abbreviation of ACMA, which is the Associate of The Chartered Institute of Management Accountants, after your name, lending credibility to your job.

Universities and Institutions

Want to become a Management Accountant and then study through the Chartered Institute of Management Accountants? You can do so through a range of universities and institutions in South Africa.

These universities and institutions offer both part time and full time opportunities, making it ideal for all those who want to make a start in Management Accountant jobs or add new depth to their degree.

You can study to become an accountant through the University of Cape Town, Stellenbosch University and UNISA. All of which offer their own benefits and opportunities.

All routes start with studying a BCom in accounting, or where possible, Management Accounting, and taking it further to a BCom Honours in the field, followed by the Chartered Institute of Management Accountants exam.

management accounting jobs

Most of the routes take about four years to complete while the preparation and the Chartered Institute of Management Accountants exam have no fixed time period.

Some universities have courses that allow you to skip certain Chartered Institute of Management Accountants exams, as you will have the relevant qualifications already. These depend on the university chosen. There are a total of six UNISA qualifications that are endorsed by the Chartered Institute of Management Accountants and a various range of qualifications from Stellenbosch.

There are a host of unique job opportunities currently listed on Job Mail within the field that are tied to relevant experience and skill levels.

Ready for exciting Management Accounting jobs? With the chance to work at banks, insurance companies to FMCG companies, you can find it all. What are you waiting for? Register your CV, browse jobs and apply for accounting jobs on Job Mail.

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Management Accounting: A career in financial data and advice
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Management Accounting: A career in financial data and advice
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If you enjoy accounting, financial data and helping give advice on the variables, then management accounting jobs may just be the thing for you.
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3 Responses

  1. Luschka Mans says:

    Currently almost 23 years as an Senior State Accountant (Captain) in the SAPS . Duties include budget of the station, overtime applications, Sunday ab nightshift allowance, payroll, all queries relating to bank accounts, pays sheets, night shift, Sunday time and overtime. Much more kpa’s which will provided if necessary.

  2. Luschka Mans says:

    Head of Finance Department

  3. Paramdeep SIngh Kler says:

    Dear Sir / Madam

    I would like to take an opportunity to apply for the said job position i.e. Finance & Accounts and even, glad to share my profile which holds relevant experience of +8 years for this position

    Request your feedback and look forward to discuss about the same.

    Regards
    Paramdeep Singh Kler

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