What sets a management accountant apart from a traditional accountant?

Management Accountants

  • Analyse data, forecasts and budgets to help leaders make decisions.
  • Create reports to be used internally.
  • Compile information looking at the future, not the past.
  • Are responsive — whatever information the business needs, they’ll provide it.
  • Measure operational, as well as financial, performance.
  • Can focus on specific parts of the business.
  • Look at qualitative and quantitative data.

 

Traditional Accountants

Traditional Accountants

  • Analyse past financial performance, usually for regulatory reporting.
  • Create reports to satisfy external regulations.
  • Are regulated — reports are in line with prescribed requirements.
  • Measure financial data only.
  • Focus on the entire organisation.
  • Compile data as set points of the year, according to legislation.
  • Look at quantitative data only.

The value management accountants bring to business

Management accountants have a multifaceted role to play, whichever sector or company they work for. Here are a few of the things they bring to the table.

 

They are business leaders

As a management accountant, you’ll understand how your organisation works. You’ll know its business model, strategic context and competitive position inside out. That, combined with your first-class leadership skills, means you play a vital role in any business. 

They are innovation advisors

For a business to thrive, it needs to adapt to keep pace as the world changes constantly. As a management accountant, you’ll grab every opportunity for innovation and help drive future success.

CIMA relaxed business man

They are decision-makers

By combining financial and non-financial data, you’ll paint a complete picture of the business. You’ll use that in-depth analysis to make decisions and pursue business success at the highest level.

They are forecasters

They are forecasters

Management accountants focus on the future. You’ll gather information and analyse statistics to spot trends and help make strategic decisions – from improving internal efficiencies to tackling market expansion. 

Where can a career in accounting take me?

Where can a career in accounting
take me?

Chief Financial Officer

The chief financial officer is part of the executive management team who develops the financial well-being of the organisation. They are accountable for financial planning, operations, and risk management, requiring a detailed, wider range of knowledge.

Finance Manager

In large organisations, the finance manager role may be concerned with strategic analysis, while in smaller companies, a finance manager may be responsible for the collection and preparation of accounts. A finance manager is typically a fully qualified chartered accountant.  

Management Consultant

Management consultants advise organisations on how they might implement strategic decisions or improve performance. They need to be aware of every aspect of an organisation and have strong commercial acumen, project management skills and analytical prowess. 

Management Accountant

Management accountants understand business and finance, using this knowledge to interpret financial data and make informed strategic decisions. They often work closely with senior stakeholders to help drive growth, with typical activities including budgeting and forecasting, profit and loss reporting and balance sheet analysis. Once you’ve got CIMA’s® CGMA® Professional Qualification, you’ll be a Chartered Global Management Accountant, able to use the CGMA designation after your name.

Finance Business Partner

Finance business partners are commercially aware with strong communication and leadership skills. They work alongside different departments, using analysis and insights to support and advise all strategic and operational decision-making. To excel as a finance business partner, you need core finance skills and the ability to clearly and concisely articulate financial information. This role makes it possible to progress to more senior positions such as finance manager, finance director or financial controller.

Financial Accountant

Every organisation needs someone to report on its financial position. That’s where a financial accountant comes in. They provide accurate information to budget holders and external parties to fulfil regulatory requirements. The next step on the career ladder for a financial accountant is to become a finance manager.

 

 

Business Analyst

 If you’ve got top analytical skills, you could make a good business analyst. They use their skills to build financial models that support commercial decision-making by the senior team. As well as financial modelling, business analysts will take on risk management, so they’re often fully qualified accountants.

Accounts Assistant

Being an accounts assistant will expose you to a wide range of accountancy duties including preparing financial statements and accounts, processing expense claims and invoices, managing ledgers and preparing VAT returns. This role is a great springboard into becoming a financial accountant or management accountant, as you have a solid foundation in finance.

How CIMA® helped my career - Anthony Murphy, CFO at Tandem Bank

How do I become a management accountant?

To practice as a management accountant, you’ll need a relevant professional qualification. There are several qualification providers, but CIMA is the global leader in management accountancy training. Our qualifications are current, innovative and lead to Chartered Global Management Accountant (CGMA) status, the only globally recognised designation for management accountants.

 

Anyone can study with CIMA to become a CGMA. How you get started depends on your existing qualifications. Use the tabs below to find the starting point that’s right for you

I have some experience or qualifications

If you have a combination of work experience and a relevant degree in business and finance, you could jump straight into studying the CGMA Professional Qualification to become a Chartered Global Management Accountant (CGMA).

Recognised all over the world, the CGMA Professional Qualification focuses on employability, offering a syllabus that is truly competency based. 

You’ll develop the technical and leadership skills employers are really looking for, showing them that you not only have the knowledge, but also the competencies and skills of a CGMA.

 

More about the CGMA Professional Qualification
I want to earn and learn with an apprenticeship

The CIMA apprenticeship programme is a workplace training programme available in England. It includes a combination of on-the-job training and classroom learning. 

Suitable for almost anyone, whatever your life-stage, you’ll gain real practical experience, earn a wage and work towards a nationally recognised apprenticeship qualification, as well as the globally recognised Chartered Global Management Accountant (CGMA) designation.

More about apprenticeships

Who can qualify as a CGMA with CIMA?

Studying for the CGMA Professional Qualification with CIMA is open to everyone, no matter what qualifications or professional experience you have. Here are the different ways you could start your  CGMA journey.

 

School leavers

Starting as a school leaver

Get a world-renowned finance qualification and become a Chartered Global Management Accountant – no degree necessary. Here’s how to study with CIMA straight from school or college. 

 

How does studying with CIMA as a school leaver work?

You can start your journey to becoming a management accountant as soon as you leave school with either the CGMA Certificate in Business Accounting or a CIMA Apprenticeship (if you live in England), no matter your exam results.

The Certificate in Business Accounting is a formal qualification in its own right. You’ll learn vital business and accounting skills, and it’s open to anyone, as well as a formal entry route into the CGMA Professional Qualification. And once you’ve completed that, you’ll be able to call yourself a Chartered Global Management Accountant. All without masses of student debt.

Undergraduates/Graduates

Starting as University graduate

Once you have completed your undergraduate degree, the CGMA Professional Qualification can give your degree the edge.

You can study with CIMA whatever your degree is in. But if you’ve already completed a relevant degree, such as accounting or business, you could be entitled to exemptions from some of CIMA’s CGMA Exams — allowing you to qualify sooner than you think. Please visit our exemptions calculator to find out what your entry point into the qualification would be.

Members of another professional body

Starting as a member of another professional body

Depending on your professional qualification, you may be eligible for exemptions.

To confirm, use our exemptions calculator and enter your qualification to determine your entry point. We also have special agreements with organisations offering fast track entry to the CGMA Professional Qualification. To find out about these please contact your regional CIMA office - https://www.aicpa-cima.com/home > Local sites.

AAT Members

Starting as an AAT member

Delve deeper into the topics you’ve covered during AAT and work towards becoming a Chartered Global Management Accountant (CGMA) with fast-track entry into the CGMA Professional Qualification. 

How does studying with CIMA as an AAT member work?

Think CGMA are the four letters you’d like after your name? Your AAT qualification can get you there faster.

If you’ve completed the AAT Professional Diploma in Accounting — good news. You can skip the Certificate in Business Accounting and jump straight into studying the CIMA Professional Qualification.

If you hold the AAT Level 2 Certificate or Level 3 Diploma, you can start with the Certificate in Business Accounting. It’s an entry route to the CGMA Professional Qualification.

We’ve removed exam exemption fees, so you’ll pay nothing to have your learning with AAT recognised. We’ll even fast-track your exemptions application. And with over 50% off your AAT subscription while you’re studying with CIMA, you’ll be able to enjoy the best of both memberships.

 

 

Starting as an experienced finance professional

The CGMA syllabus comprises three levels — Operational Level, Management Level, Strategic Level. Learning pathways for highly experienced finance professionals offer a quicker route to the CGMA designation and CIMA membership. 

Your experience counts.

CFO Programme

C-suite executives, such as CFOs and CEOs, with a minimum of 10 years’ experience in accounting, finance or business enter the CGMA syllabus at the Strategic Level Case Study Exam. This is the final level and exam to gain the CGMA designation. Once you’ve passed the exam and submitted practical experience requirements (PER), you’ll be awarded the CGMA designation and can apply for CIMA membership.

Senior Executive Programme

Senior leaders and managers with a minimum of six years’ experience in accounting, finance or business can enter the CGMA syllabus at the Management Level Case Study Exam. Once you’ve passed the Management Level, you’d begin the Strategic Level learning materials and case study exam. Upon completion, you would submit practical experience requirements (PER) and be awarded the CGMA designation and can apply for CIMA membership.

Professional Gateway

Finance professionals, including certified public accountants and data analysts, with a minimum four years' experience in accounting, finance or business enter the CGMA syllabus at the Operational Level. This level will provide the specifics of what it takes to perform the daily finance functions expected in business and industry. After completing the first level of the CGMA syllabus, you would be awarded the designatory letters ‘CIMA Dip MA’ and you’ll ready to proceed to the Management Level. Once you’ve passed the Management Level, you’d begin the Strategic Level learning materials and case study exam. Upon completion, you would submit practical experience requirements (PER) and be awarded the CGMA designation and can apply for CIMA membership.

Who is eligible for the experiential pathways?

The experiential pathways include three possible entry points to the CGMA syllabus, tailored towards esteemed business professionals, including CFOs, senior executives and managers. 

Starting as an academic

Learning pathways for finance-related professors, lecturers and researchers offer a quicker route to the CGMA designation and CIMA membership.

Elite Academics Programme

Those with a Ph.D. in accounting or business, plus six years' experience teaching or research enter the CGMA syllabus at the Strategic Level Case Study Exam.  

As an experienced academic, this route enables you to be awarded the CGMA designation in the shortest possible time. Once you pass the Strategic Level Case Study Exam, you’ll be awarded the CGMA designation and can apply for CIMA membership.

Academic Master's Gateway

Master's degree holders in accounting, business or management with five years' teaching or research experience will enter the CGMA syllabus at the Strategic Level. Once you’ve completed the course work and passed the Strategic Level Case Study Exam and gained the required six years’ relevant experience, you’ll be awarded the CGMA designation and can apply for CIMA membership.

Academic Bachelor's Gateway

Bachelor's degree holders in accounting or business with three years' teaching or research experience enter the CGMA syllabus at the Management Level Case Study Exam. 

When you’ve passed the Management Level Case Study Exam, you would then complete learning materials per the Strategic Level of the CGMA syllabus, including the case study exam at the conclusion the learning materials. Upon completing the materials of the CGMA syllabus, plus  six years’ relevant academic experience, you’ll be awarded the CGMA designation and can apply for CIMA membership.

Who is eligible for the academic pathways?

Academic gateways are available for professionals who have taught or conducted research in management accounting at the university level as a professor or lecturer.

Why qualify as a CGMA with CIMA?

Why qualify as a CGMA with CIMA?

Unlock the global job market

The CGMA designation is recognised worldwide, in every industry. Thousands of companies train their people with CIMA, from multinationals to start-ups, in private and public sectors.

Boost your earning potential

CGMA candidate average salary 
£32,000 GBP 
CGMA designation holder 
£66,000 GBP 

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