Navigation trail

• Home page
• Types of jobs
• Financial management and accountancy
• Chartered management accountant
• Chartered management accountant: Job description and activities

Chartered management accountant: Job description and activities

Job description

A chartered management accountant applies the principles of accounting to provide the financial information necessary for the planning and financial protection of organisations in the public and private sectors. They establish and maintain financial policies and management information systems, as well as liaise with management colleagues on all aspects of finance. The role combines accounting skills with business management skills.

Chartered management accountants look to the future (rather than the past, as in auditing). They analyse the performance of a business and advise on how to pre-empt problems, adapt to changing circumstances and improve value.

They may work in a finance function or within specialist departments providing financial advice and information to support strategic business decision-making and control.

Typical work activities

Typical work activities include:

• creating, implementing and monitoring processes and procedures around the creation of monthly forecasts;
• preparing periodic financial statements, including profit and loss accounts, budgets, cash flows, variance analysis and commentaries;
• informing key strategic decisions and formulating business strategies;
• implementing corporate governance procedures, risk management and internal controls;
• contributing to medium and long-term business planning;
• advising on the financial implications and consequences of business decisions;
• negotiating for major projects, loans and grants;
• offering professional judgement on financial matters and advising on ways of improving business performance;
• interpreting and communicating financial data to non-financial managers;
• liaising with other function managers to put the finance view in context;
• monitoring and evaluating financial information systems.

The role will vary depending on the management structure, for example there may be some openings in large firms in a business advisory role.

There may also be some variation to the function depending on the nature of the organisation (commercial, public sector or not-for-profit) and, with larger organisations, the department or departments that the individual is based in or supports.

AGCAS

Written by Simon Thompson, University of Derby

Last updated:

March 2009

© Copyright AGCAS & Graduate Prospects Ltd | Disclaimer