Management accountant

accounting officer finance officer budget manager
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Career outlook for

Figures and forecasts for roles at the same level, which require similar skills and qualifications.

Average UK salary

Currently employed in Scotland

Six year jobs forecast

The information is supplied by LMI For All

What's it like?

You would make sure the business you work for keeps track of all its money, pays its bills and is paid by its customers. You’d find ways that the company can grow make bigger profits.

A single company would employ you as an in-house (internal) accountant.

You would:

  • Prepare regular financial statements and accounts, such as profit and loss accounts
  • Monitor spending, costs and budgets
  • Analyse the company’s financial performance
  • Forecast and plan future spending and profits
  • Recommend ways to reduce costs and increase profits
  • Make business decisions with other managers
  • Do internal audits of various departments
  • Give external auditors company reports and financial data
  • Lead a team of accounting technicians and finance clerks
  • Oversee the company's payroll, credit control and bookkeeping systems

You would need to have a good understanding of business. You also need to be able to clearly explain technical financial information.

Working conditions

Hours

You would normally work standard office hours, Monday to Friday. You may need to work overtime during busy periods, such as at the end of the financial year. Part-time work may be available.

Environment

You would be office-based.

UK employment status

Full-time

Part-time

Self employed

People behind the job

Meet real people who’ve done this job – hear their stories and the path they took to get there.

Here are some of the skills that people in this job would be most likely to have:

  • Communicating with people
  • Explaining things
  • Accuracy
  • Using computers
  • Being logical
  • Solving mathematical problems
  • Planning and organising
  • Time management
  • Paying attention to detail

Build your skills

Your skills can help you choose the career that’s right for you. You can build your skills through work, study or activities you do in your spare time.

To understand more, have a look at what are my skills?

Keep track of your skills in your account and find the jobs, opportunities and courses that suit you.

Click here to view / add your skills

Getting in

Entry requirements for courses can change. Always contact the college, university or training provider to check exactly what you’ll need.

Foundation Apprenticeships

Choosing a Foundation Apprenticeship as one of your subjects in S5 and S6 can help you get a head start with this type of job.

You'll get an SCQF level 6 qualification (the same level as a Higher) plus valuable work placement experience and skills you can't learn in a classroom.

Interested? Find out what's on offer at your school on Apprenticeships.scot.

Qualifications

You would need:

  • qualifications at SCQF level 4/5 and at least three Highers (SCQF level 6)
  • and/or a degree (SCQF level 9/10) 
  • and/or relevant work-based qualifications such as Modern Apprenticeship in Accountancy (SCQF level 5/6/8).

Entry to an accountancy Higher National Certificate (SCQF level 7) or Higher National Diploma courses (SCQF level 8) will require National 5s and one to two Highers.

To enter a degree will require National 5 qualifications and a minimum of four Highers at BBBC. Though you can apply to this job with any degree, with a qualification in accountancy, economics, mathematics, business, finance or law you can get exemptions from some parts of the professional qualifications.

Entry to Modern Apprenticeships vary between employers and level of entry but most Accountancy Modern Apprenticeships require Nationals (SCQF level 4/5) including Maths and English, plus one or more Higher (SCQF level 6) or equivalent qualifications.

Useful subjects

  • English (often required by employers and courses)
  • Maths (often required by employers and courses)
  • Accounting
  • Economics
  • Statistics
  • Business subjects 
  • ICT subjects

You will also need

 Once in the job you will need to gain professional qualifications through one of the accountancy professional bodies, and work towards Chartered Accountant status (SCQF level 11).

If you have completed an Association of Accounting Technicians (AAT) Technician level or other professional accounting qualifications you may be exempt from some parts of the professional exams.