subject: Many Titles For Accounting Career! [print this page] Being a Certified Public Accountant can often be enough for many people. For some, they've received their degree, they've moved into the field they're interested in, and that is good enough. Still, there are many CPAs who have dreams of climbing up to the top of the corporate/financial ladder. One way they do this is to move up the chain of the accounting world and become a Certified Management Accountant.
According to the Institute of Management Accounting, one of their profession's top organizations, management accountants assess an organization's taxes, lower expenses and analyze budgets. They also are involved in strategic planning, manage costs, and oversee new project and product development. They also prepare reports and write papers for investors, regulators and auditors. This list only begins to outline a management accountant's possible financial responsibilities. A lot depends on where they work. One of the perks of the job is there isn't an industry that doesn't need them, either as an employee or as an outside consultant.
While one can gain entry into the accounting profession with a Bachelors in Accounting, its professional organization, the Institute of Management Accounting, states getting a Masters in Accounting and/or Finance is a need. Management accountants also are required to take a two-part certification test before they can officially carry the title. If you need more information about accredited college degree, look on the internet.
A certified management accountant also has to be more well-rounded than his peers. They not only have to know the difference between the left and right side of a balance sheet, but knowledge of statistics, marketing, operations management and finance usually goes with the job.
As such, many enter the field with their Bachelors of Science, more than likely Accounting, then enroll with an online college to finish off their degree program through work-study. The Institute is also very helpful in pointing ways to get financial aid, both grants and scholarships at its website. Companies who hire young accountants many times also offer financial assistance as part of their employment package.
The Bureau of Labor Statistics says they have only about 65,000 management accountants. It's an incredibly small number when one realizes there are over 2 million accountants in the U.S. Conversely, the need for them is growing incredibly. The Bureau estimates a 22% growth in positions by 2018. There is an abundance of information about degree on line on the web.
Salaries can be incredibly appealing. On the low end, salaries are $47,000. The high end borders around the $100,000 mark. Perks are more than just continued education. The package almost always has excellent health care and life insurance policies, expense accounts, 401(k) and other retirement/investment clauses. Stock options are not out of the realm of possibility. So while it takes a lot of work to become one, the rewards make it worth the effort.
