Management Accounting Career

Career description

Management accounting career is also known as corporate accounting, involves working within one specific company. Management accountants perform a chain of responsibilities to manage and oversee their company’s financial security.

How you can have a management accounting career

Management accountants determine the success and status of a company. A number of management accountants opt to become a Certified Management Accountant, a credential comparable to CPA, but with much greater focus on financial planning, cost accounting and management issues..

Management Accounting Career Path

Many universities and colleges offer diplomas and associate degrees in accounting. Undergraduates can take accounting lessons as part of a business degree or earn a bachelor’s degree in accounting.

Schools and colleges

Find MAcc degree programs or accounting bachelors MBA to begin your journey towards a management accounting career

Top 5 colleges and universities

The top colleges and universities are;

University of Texas, Austin

University of Michigan, Michigan

University of Illinois, Illinois

University of Southern California, California

Northern Illinois University, Illinois

Management Accounting Job Opportunities and salaries

Depending on company size, specific job description and location, job descriptions, salaries and opportunities vary from one employer to another. Accountants can work in almost any company, governmental organization, groups or non profitable organizations.

At entry level, you will serve as cost accountant, tax accountant, staff accountant or junior internal auditor. This is with the assumption that you will have less than 3 years work experience in accounting or related field. However, you must hold a bachelor’s degree in accounting or finance or related business field. You must also have strong technology skills in accounting packages like MS Excel, Sage and QuickBooks. Your salary will range between $35,570 – $52,500 annually and you will be reporting to senior accountant or manager.

At mid Level in the management accounting career path, you will be serving as senior accountant, accounting manager or senior internal auditor. For this post, an experience of between 4 and 8 years is desired and you will require all the skills required at entry level. Above that, a master’s degree in accounting, CPA or Business with focus on accounting is desired. You will earn between $44,230 – 67,250 annually and your responsibilities comprise prepare financial statements, analyzing and preparing monthly financial reports, assessing internal controls, supervising accounting staff, managing the general ledger, assisting in creating company budgets and completing tax returns for the company.

A senior level is the highest point in the management accounting career path. For this post, an experience of no less than 10 years is desired and you will act as the director of accounting or finance, Controller, and Chief Financial Officer. You will need all the requirements needed for the mid level accounting management. Besides this, Solid management skills, a track record of leadership and excellence in the accounting field, Knowledge of the accounting industry and US accounting principles are required. Your earnings annually will range between $75,020 – $358,750 and you will be responsible for the company’s financial status, transactions and coordinating accounting operations. You will also be expected to build business strategies, train, hire, and oversee staff, maintain budgets, perform financial analysis and manage relationships with auditors and investors.