Management accounting involves forecasting future results based upon the past and other business considerations. It is therefore considered to be more commercially focused than pure financial accounting, which concentrates more on the reporting of past results. In order to forecast effectively, you will have to develop a detailed understanding of the business and the key drivers behind its revenue, costs and profit.

Responsibilities incorporate management accounts preparation, related query resolution, analysis of key performance indicators, producing budgets in conjunction with line management, variance analysis (involving measuring revenue and costs against standards), financial analysis and other ad hoc work to support management decision making.

Is it for you?
Commerce & industry experience is useful however there are entry points available for movers straight from practice. Strong interpersonal skills are essential to develop and manage the relationships with the non-finance teams and managers.

Career Prospects
Career opportunities include a route to financial controller, business analysis, commercial management and analysis, financial planning, as well as being a good base for a finance director career objective.