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 to take decisions. A management accountant must not only be an expert in accounting, but also 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 a 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.
- Monitor preparation of financial records, statements and reports.
- Oversee day-to-day accounting operation activities; manage accountant staff and give technical direction.
- Ensure that the internal policies, procedures as well as state and federal regulations are followed.
- A bachelor’s degree in business or accounting is required and certification as a management accountant is also necessary.
- Master’s degree is preferred.
- Three to five years of experience is generally required.
The pay scale of a management accountant ranges between AUD$53,081 – AUD$103,387 and the median being AUD$76,359.