Management Accountant

ITSS Recruitment; London; On-site; GBP 45,000 - 48,000; Full time

Job summary

A leading company in the hospitality sector is seeking a Management Accountant to provide financial insights and support business decisions. The role involves financial reporting, budgeting, and compliance, requiring a detail-oriented candidate with at least 2 years of relevant experience. If you have a degree in Accounting or Finance and are proficient in accounting software, apply now to join a dynamic team.

Qualifications

• Proven experience (2+ years) in management accounting, ideally in hospitality.
• Strong understanding of the hospitality industry's financial operations.
• Ability to analyze large volumes of financial data accurately.

Responsibilities

• Prepare monthly management accounts and variance analysis reports.
• Assist in the preparation of annual budgets and cash flow forecasts.
• Ensure compliance with accounting standards and support audits.

Skills

Attention to Detail

Communication Skills

Problem-Solving

Time Management

Team Player

Education

Degree in Accounting, Finance, or related field

Professional qualification (e.g., ACCA, CIMA) or in progress

Tools

Sage

Xero

Advanced Excel skills

Job description

Role: Management Accountant
Location: London
Salary: 45-48k

The Management Accountant plays a critical role in helping businesses make informed financial decisions by providing financial insights, planning, and analysis. They go beyond just reporting numbers-they focus on how financial data can be used to drive business performance. The ideal candidate will be detail-oriented, with a strong understanding of financial controls and experience in the hospitality industry.

Key Responsibilities:

Financial Reporting and Analysis;
Monthly Reporting: Preparation of monthly management accounts, ensuring all financial information is accurate, timely, and in accordance with company policies and industry standards and submitted within 6 working days of the month end.
Variance Analysis: Prepare and review variance analysis reports, comparing actual results against budgets and forecasts. Provide explanations for variances and assist in recommending corrective actions.
Profitability Analysis: Support the analysis of profit margins and identify areas for improvement in terms of cost control, revenue generation, and operational efficiency.
Payroll Review and Reporting: Processing of payroll, identification of errors in processing and the review for the Operational companies.
Departmental analysis: support on the preparation of the departmental information for the reporting.
VAT Returns and Tax Reporting : Preparation of VAT reporting for submission of returns.
Compliance - ensure compliance with accounting standards, regulations and internal controls.
Financial Forecasting: Assist in forecasting financial performance for future periods, including revenue, costs, and profit margins. Ensure that the forecasts are in line with the business's strategic goals. Assist with preparation of cash flow forecasts.

Budgeting and Forecasting;
Budget Preparation: Assist in the preparation of the annual budget, working closely with various departments to collect and collate financial data, ensuring that the budget aligns with strategic goals.
Budget Monitoring: Support the monitoring of departmental budgets, ensuring expenditure is in line with approved budgets and identifying areas where corrective action may be needed.
Cash Flow Management: Assist in cash flow forecasting and managing liquidity within the business, ensuring that there are sufficient funds to meet operational requirements.

Cost Control and Financial Management;
Cost Control: Monitor and analyse cost control measures for the business, identifying opportunities to reduce costs and improve efficiency without compromising quality.
Inventory Management: Support with the management and reporting of inventory, including periodic stocktakes, reconciliation, and inventory valuation.
Operational Financial Support: Work with operational teams to provide financial insight, helping to optimize pricing, promotions, and cost efficiencies.

Financial Compliance and Audit Support;
Internal Controls: Ensure adherence to internal controls, policies, and procedures in line with financial regulations and company standards.
Audit Support: Assist in the preparation of audit packs and support external auditors during year-end audits by providing relevant financial information.
Regulatory Compliance: Ensure that financial processes comply with tax regulations, hospitality industry standards, and other relevant financial regulations.

Team Collaboration and Reporting;
Cross-Department Collaboration: Work closely with operational and senior management teams, providing financial insights and advice to help shape business decisions.
Management Reports: Prepare and deliver regular financial reports and key performance indicators (KPIs) to assist senior management in tracking the business's financial health.
Ad-Hoc Analysis: Provide ad-hoc financial analysis as required by the business, including profitability of specific business units, new product launches, and cost benefit analyses.

Skills and Experience:
Experience: Proven experience (2+ years) in management accounting, ideally within the hospitality industry or a similar service-based sector.
Education: A degree in Accounting, Finance, or related field. Professional qualification (e.g., ACCA, CIMA) or in progress (latest stage)
Technical Skills: Proficient in accounting software (e.g., Sage, Xero) and advanced Excel skills.
Industry Knowledge: A strong understanding of the hospitality industry, including revenue streams (rooms, food and beverage, events, etc.), cost structures, and financial operations.
Attention to Detail: Strong attention to detail with the ability to analyse large volumes of financial data accurately.
Communication Skills: Excellent verbal and written communication skills, with the ability to explain complex financial information in a clear and concise manner to non financial stakeholders.
Problem-Solving: Strong analytical and problem-solving skills, with the ability to identify financial issues and recommend solutions.
Time Management: Ability to manage multiple tasks and deadlines in a fast-paced environment.
Team Player: Ability to collaborate and proactively support teammates when necessary with a positive attitude

If you feel the above Management Accountant specification matches your professional background, click apply.