Education Career Articles

Connect Facebook Connect Twitter Connect Google+ Connect Pinterest Connect Stumbleupon

Certified Management Accountant Career Info and Education Requirements

Job Descriptions January 10, 2013

Certified Management Accountants (CMAs) manage an organization or company financials. Essential control functions are performed by CMAs and decision makers are informed about different aspects of the company’s financial situation. New products are developed, and strategic planning is completed in a company by executive teams that CMAs belong to and play an active role.

Education Requirements for Certified Management Accountant

CMAs are required by employers to have completed a bachelor degree program in finance, economics or accounting. Schools offer bachelor’s degree courses in taxation, finance, marketing, business law, management, and financial accounting. Students are allowed to participate in part-time or summer-time internships to gain hands on experience. Some accountants prefer to prepare themselves with a master degree in business administration or accounting. Many seek certification to improve their credentials, and they are referred to as Certified Public Accountants (CPAs). To become a Certified Management Accountant (CMA) a prospective candidate has to complete a bachelor degree program from an accredited school; in addition, the candidate will need a GMAT or GRE score that is at a minimum of the fiftieth percentile. Alternatively, certification in the field will also suffice. Applicants for certification will need to have two years of experience in management accounting.

Certification Information

The Institute of Management Accountants offers certification for CMAs. Candidates have to take a written examination in two parts; the first part deals with examinees’ understanding of topics such as professional ethics, Internet controls, performance management, budgeting and forecasting, and planning. In the second part, examinees are tested on their understanding of topics such as corporate finance, investment decisions, financial statement analysis, risk management and decision analysis.

Qualification for the exam includes completion of a bachelor degree program and a minimum of two years of work experience in management accounting. Many schools that have an accounting degree programs also offer preparation courses to help students who plan to take the CMA exam. After passing the exam, qualified CMAs are expected to participate in continued education through the entire duration of their careers.

Career Information

Certified Management Accountants are required to ensure that the company’s internal finances are in order, apart from participating in strategic business planning, designing and evaluating business processes, preparing reports, and looking for accounting irregularities. Companies also rely on CMAs to track transactions, management of assets and costs, evaluation of performance, and budgeting. Certified Management Accountants are required to have strong communication skills both verbal and written along with mathematical skills. They also need to have sufficient computer knowledge to be able to use accounting software. Certified Management Accountants are highly employable with job opportunities in virtually every industry. They can aim at getting hired at every hierarchical level including Chief Executive Officer (CEO), Chief Financial Officer (CFO), Vice President of Finance, Finance Manager, Internal Auditor, Budget Analyst, Financial Analyst and Staff Accountant.

Employment Salary and Outlook

In 2009, CMAs took home salaries thirty-one percent higher than those of non-certified accountants at comparable levels (source: IMA’s salary survey). Accountant jobs are projected to grow at twenty-two percent from 2008-2018 (source: U.S. Bureau of Labor Statistics (www.bls.gov), which is faster than average rate. Increased corporate responsibility and financial laws are expected to help generate around 279,400 jobs during the next decade. In 2008, accountants took home an average annual salary of $59,430 (source: BLS). Higher level accountants earned in excess of $102,380 including bonuses and benefits.

Searching Searching ...

Matching School Ads
5 Program(s) Found
  • Which career path will you take – Business, Nursing, Education, Psychology? Something else? GCU offers more than 100 majors to get you started!
  • Colangelo College of Business: Features more than 25 programs from the bachelor through the master's level, including several high-demand MBA programs and an accelerated accounting degree.
  • College of Nursing and Health Care Professions: Rich 25-year history providing outstanding health care and nursing degree programs, including an RN to BSN program & master's in nursing degrees.
  • College of Education: Whether you are looking to start or advance your career as a teacher or administrator, GCU offers bachelor’s and master’s in education degrees in key areas.
  • College of Humanities and Social Sciences: Provides a job focused education and features a variety of programs from counseling and psychology to justice studies, history and English literature.
  • Does something else interest you? GCU also offers programs in Doctoral Studies; Theology; Science, Engineering & Technology; and Fine Arts & Production. Speak with an enrollment counselor today!
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • • Liberty University’s online programs ranked in the top 10 out of more than 2,100 colleges & universities for academic quality, affordability, and accessibility.*
  • 100% online programs at associate, bachelor’s, master’s, and doctoral level.**
  • Transfer up to 90 credits into an undergraduate degree program.
  • Up to 50% of your master’s degree can be transferred in to help you get the most out of your hard work and maximize the credit you previously earned.
  • *BestColleges.com Gold Medal of Distinction
  • **excludes licensure, certification, and some doctoral programs
  • Accredited
  • Online Courses
  • Financial Aid
  • Transferable Credits
4 Program(s) Found
  • Available business concentrations include Accounting, Economics, General Management, Marketing, and Human Resource Management.
  • Ranked among the Best Online MBA and Online Graduate Business Programs in 2016 by U.S. News & World Report.
  • Programmatic accreditation provided by the Accreditation Council for Business Schools and Programs (ACBSP).
  • Regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
  • Online Courses
5 Program(s) Found
  • Kaplan University Online Degree Programs
  • Attend college on your terms. Kaplan University offers fully online degree programs that fit any schedule.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
1 Program(s) Found
  • Online and ground-based program areas include Fashion Marketing and Management and more.
  • Students can study branding, event management, and public relations to help them prepare for a marketing career
  • Course topics include Fundamentals of Business, Brand Strategy, Project Management, and Principles of Market Research
  • Over 50 locations nationwide, with a student support team dedicated to helping students grow
  • Start your journey! Classes starting Aug 17.
Good for Working Adults
  • Flexible Scheduling
  • Financial Aid

Searching Searching ...

Matching School Ads
5 Program(s) Found
  • There's still time to apply to Grand Canyon University and pursue your education. Learn more today!
  • Study on your schedule - GCU offers many programs 100% online to fit your busy lifestyle.
  • GCU offers a variety of opportunities to reduce the cost of furthering your education. Campus students may qualify for scholarships, while online students can take part in limited special offers.
  • A regionally accredited university, GCU also holds specialized accreditations and approvals for some of our core program offerings.
  • Degrees in business, education, nursing, humanities and social sciences, theology and more. Find the degree that fits you.
  • Talk to us today to learn more about financial aid and start dates!
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • • Liberty University’s online programs ranked in the top 10 out of more than 2,100 colleges & universities for academic quality, affordability, and accessibility.*
  • 100% online programs at associate, bachelor’s, master’s, and doctoral level.**
  • Transfer up to 90 credits into an undergraduate degree program.
  • Up to 50% of your master’s degree can be transferred in to help you get the most out of your hard work and maximize the credit you previously earned.
  • *BestColleges.com Gold Medal of Distinction
  • **excludes licensure, certification, and some doctoral programs
  • Accredited
  • Online Courses
  • Financial Aid
  • Transferable Credits
4 Program(s) Found
  • Available business concentrations include Accounting, Economics, General Management, Marketing, and Human Resource Management.
  • Ranked among the Best Online MBA and Online Graduate Business Programs in 2016 by U.S. News & World Report.
  • Programmatic accreditation provided by the Accreditation Council for Business Schools and Programs (ACBSP).
  • Regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
  • Online Courses
5 Program(s) Found
  • Kaplan University Online Degree Programs
  • Attend college on your terms. Kaplan University offers fully online degree programs that fit any schedule.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits

Login to your account

Can't remember your Password ?

Register for this site!