Chartered Management Accountant Career Description
The provision of financial data is
an important part of management since progress and management success are analyzed according to financial gain. Chartered management accountants turn ideas into money and provide management with advice on the profitability of various possibilities. Every organisation needs the analytical, advisory and decision making skills of a trained chartered management accountant.
What am I going to do in this occupation?
Chartered management accountants are mainly concerned with the collection, comparison and interpretation of a large variety of information and advice concerning costs and cost trends, level of performance, budget and so forth, which are required on a daily basis. They apply management and financial skills to the decision-making process as vital members of the management team.
Chartered management accountants are key figures in determining development and efficiency in a competitive market. They participate in the effective management of organisations by identifying, presenting and interpreting financial and other information
for strategy, decision-making and control.
They also assess the impact of change throughout the organisation. Facts provided by management accountants serve as basis for the determination of the feasibility of any enterprise.
Chartered management accountants use computers to provide more in-depth information required by management for better planning, development and control. Organisations in every field make use of the
knowledge of chartered management accountants in matters such as budget control, labour compensation, expense calculation, price determination, management guidance and many other fields where analysis and control of expenditure are necessary.
Requirements
What kind of personality do I need? Prospective chartered management accountants must be able to work methodically and think logically. An interest and aptitude for Mathematics is therefore important. Management accountants have to be able to take the responsibility for decisions made by management on their recommendation. They have to be able to work under pressure and must comply with the high ethical and professional standards required of the accounting profession.
Where can I work?
The development of trade, industry and the economy create exciting and rewarding career opportunities for chartered management accountants in every sphere of business. They also work as consultants and lecturers at educational institutions.
Accountants who show leadership ability can become general managers, financial directors, managing directors and chairpersons of companies, with further study and experience.
Can I work for myself in this occupation?
Chartered management accountants can work as consultants at big firms that do not have their own management accountants. If they are qualified as chartered accountants, they may, in co-operation with partners, open private practices.
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