Contract management accountant roles are ‘hot’ in the accountancy jobs market right now. We explore the position in more detail.
Are management accountants in demand?
There has been a strong demand for contract management accountants from commercial companies in the last year. This is because the role is primarily focused on the future of the business – extremely pertinent in what remains a challenging market.
The appeal of contracting
Management accountants are becoming increasingly attracted to contracting. Although the rates can be appealing, many see the opportunity to gain expertise across various sectors and business cultures to be invaluable. For people relocating to the UK from overseas, contract management accountant opportunities are appealing for similar reasons.
Need to have: commercial skills
When recruiting for these roles, our clients have typically been looking for professionals with hands-on commercial expertise who are capable of delivering to tight deadlines at month end. To be successful, you’ll be comfortable interacting and engaging with stakeholders from a non-financial background.
There has been a strong demand for contract management accountants from commercial companies in the last year.
Applying the figures
While you’ll need to have a thorough grasp on numbers, you’ll also need to understand what these figures actually mean. This will allow you to recommend solutions that can positively add value (in terms of allocation of resources, cost control or identifying opportunities to increase market share).
Core responsibilities for a management accountant
Your core responsibilities include conducting internal reviews, month and year-end reporting, establishing budgets, making forecasts and reviewing performance against KPIs. Depending on the size of your employer, you may also be directly responsible for other duties, including accruals, accounts payable, accounts receivable, liquidity, working capital, depreciation, reconciliation, account ledgers, general ledger and trial balance.
Differences to skills required
Although fulfilling the technical requirements of the role is regarded as a minimum requirement, differing industries typically look for different types of qualities. But the main emphasis in both SME and larger clients is on engaging with the business and providing solutions to problems.
Great career development potential
If you are successful in securing one of these roles, there are a number of opportunities subsequently open to you. Most excitingly, the mid- to long-term career trajectory could be to Finance Manager/Financial Controller depending on company structure and size.
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