Management Accountant

 

 

 

OFO No: 241102

 

 

 

What is a Management Accountant?

A Management Accountant is a specialised field of accounting.

Management Accountants work with the internal needs of a company. They are often found in manufacturing / production companies. They focus more on costs and losses. Cost accounting is therefore a large part of a Management Accountants job portfolio. These calculations determin budgets, pricing and profitability.

Management Accounting can be divided into 3 main areas:

  • Raw materials (what the product will be made from)
  • Labour (employees)
  • Overheads (costs to company eg: building rent, water, electricity, etc)

What does a Management Accountant do?

  • studies company’s financial data
  • researches companies costs and overheads
  • works out systems that benefit the company’s profitability
  • implements cost accounting strategies
  • liaises with other accounting staff
  • writes reports
  • creates graphs and spreadsheets for easy explanations and tracking
  • does presentations
  • keeps up to date with raw material prices etc

Are you . . . ?

  • good at mathematics?
  • systematic?
  • good at analysing data?
  • logical?
  • responsible and trustworthy?
  • a person with a head for a business?
  • confident?
  • a good communicator?

How do I become a Management Accountant?

All the learning pathways require Maths and English at a National Senior Certificate level (NQF Level 4).

DIPLOMAS

  • Diplomas in Cost and Management Accounting can be done at many universities of technology and some private institutions.

DEGREES

  • Bachelor degrees can be done at universities and BTech degrees at universities of technology.

TRAINING:

  • CLICK HERE to check for a training institution near you to see what they offer.
  • Make sure you understand their entry requirements for each course.
  • To avoid scams, make sure your institution is registered with the Department of Higher Education. CLICK HERE to check accredited Private Higher Education Institutions. 

 

OTHER CAREERS TO CONSIDER:  Cost & Accounting Assistant or Accounts Clerk

Is becoming a Management Accountant the right career choice for me?

 


Maths Required Qualification Required