What do management accountants do?
Management Accountants are financially qualified business leaders who are able to design, implement and take care of the financial and non-financial integrated systems, so that the company runs productively.
More specifically, a management accountant performs tasks like:
- Laying out, applying and taking care of transaction handling tasks.
- The designing, testing and taking care of end-to-end company processes and activities.
- Working as an analyst, consultant, project and change manager in support of the company.
- Acting as a business partner and making important, calculated decisions.
- Formulating and taking care of organisational policies, approaches and objectives.
- Producing company strategies, cost-benefit analysis, and budgeting information, where suitable.
- Style and execute superiority in business administration, including threat administration, interior audit and controls, firm clerical, business social duty and board and stakeholder reporting.
- Determine funds framework and obtain and handle funds.
Why should I study management accounting?
It is important to study management accounting because it allows for stock assessments and profit measurements to take place within a company, so that the financial reports can be drawn up. Because every company needs a financial report, management accounting is a beneficial career to go into.
A CIMA programme will certainly change your life for the better, and help you to advance in your career.
If you are still unsure whether or not you should study management accounting, read the following:
- With your CIMA qualification, you will have access to top competitive professions in business.
- You will be acquainted with advanced principles in the finance sector.
- You will establish your decision-making skills and be able to examine different alternatives on the spot, in order to make prudent split-second choices.
- CIMA is your gateway to a global profession!
- Expedite your other business researches with a CIMA certification.
- CIMA qualifications give you access to diverse careers in business.
- CIMA courses give you expert knowledge in finance.
Management accounting roles
A CIMA job could consist of many roles. The main role would be to provide the company with information relating to accounting. Here are a few other examples:
- Collecting and reporting financial data within the company.
- Analysing the budget and recommending funding. For example, budgeting the cost of raw material and labour.
- Time management – the management accountant has to make predictions and provide financial information within a specific period of time.