Role of the Management Accountant

Learn what the role of the management accountant plays and how you can have a career in this exciting accounting field.

Also known as corporate accountants, management accountants work within one specific company.

The role of the management accountant is to perform a series of tasks to ensure their company’s financial security, handling essentially all financial matters and thus helping to drive the business’s overall management and strategy.

Management accountants are key figures in determining the status and success of a company. Some choose to become a Certified Management Accountant (CMA), a similar credential to CPA, but with a greater focus on cost accounting, financial planning, and management issues.

Job responsibilities can range widely. Depending on the company, your level of experience, the time of year and the type of industry, you could find yourself doing any of the following tasks:

Budgeting
Handling taxes
Managing assets to helping determine compensation and benefits packages
Aiding in strategic planning

Management Accounting Career Path

Entry Level

Types of Roles:

Staff accountant, cost accountant, junior internal auditor, tax accountant

Getting There:

Bachelor degree in finance or accounting
Strong technology skills (specifically in Microsoft Excel)

Job Duties:

Work under a senior accountant or manager
Do tasks involving receivables and payroll, financial statements and compliance audits
Help in the budget department
Prepare reports for the controller’s department

Mid Level

Types of Roles:

Accounting manager or senior accountant, senior internal auditor

Getting There:

All entry-level requirements
Strong communication and analytical skills
An MBA with a focus in accounting, MAcc or CPA or CMA certification is recommended

Job Duties:

Prepare financial statements
Assess internal controls
Analyze and/or prepare monthly financial information
Help create company budgets
Supervise accounting staff
Complete and review tax returns
Help manage the general ledger

Senior Level

Types of Roles:

Controller, director of accounting or finance, CFO

Getting There:

All mid-level requirements
Track record of excellence and leadership in the field
Solid management skills
Knowledge of the industry and US accounting principles
A graduate degree—MBA or MAcc—and/or CPA or CMA certification is desired

Job Duties:

Responsible for all or part of a company’s financial status, actions and transactions
Coordinate accounting operations
Hire, train and oversee staff
Maintain budget
Perform financial analysis
Build business strategy
Manage relationships with investors and auditors

_{*Depends on company size, specific job and location.}

_{Sources: Robert Half International; Bureau of Labor Statistics’ 2018-19 Occupational Outlook Handbook.}

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