Managerial accounting skills are utilized in almost every type of business that exists today. Those in this field are able to utilize critical thinking, financial analysis, strategic planning, and financial planning to assist companies in making financial decisions that will help them grow into future. Those employed in this field can work in a variety of areas including non-profits businesses, government auditing agencies, and all kinds of private companies. There is also certification called the Certified Management Accounting, (CMA), specifically geared towards someone wanting to work in this field. A bachelor’s degree is required to apply for the certification.
Strong Employment Outlook in Managerial Accounting
Due to the increased need for transparency and ethical financial practices, there is an increased demand for those skilled and with degrees in this field. According to the United States Bureau of Labor Statistics, this field of accounting and auditing is expected to experience a 22 percent increase in growth between now and 2018. With businesses growing, more accountants will need to be hired to assist them with accounting practices and tax preparation. There will also be an increased demand as more government oversight is required in financial reporting and practices in American businesses.
Great Salary Opportunities in Managerial Accounting
Those graduating in managerial accounting can expect to have excellent salary making potential. The Occupational Outlook Handbook found that in 2008 accountants and auditors in the United States had average salaries ranging between $45,000 and $78,000 annually. Salaried accountants generally had good benefits packages including health insurance, life insurance, retirement plans, and vacation pay. The National Association of Colleges has found that in July 2009, those with a bachelor's degree in accounting had an average starting salary of around $48,000.Those with a master's degree in accounting had an average starting salary of around $49,000 annually.
Colleges Have Great Programs in Managerial Accounting
This is a field where a bachelor's degree or master's degree is necessary to get hired. Colleges currently have some excellent degree on-campus programs in managerial accounting. It’s time to find out about this great career field.
If you are interested in earning a degree in Managerial Accounting, click here to request more information.
Recent financial scandals have rocked our nation and the world. Businesses have utilized unethical and often illegal financial scheming to make money at the public's expense. Due to this and the growth of global business practices, the managerial accounting field is experiencing strong growth. Someone with a bachelor's degree in managerial accounting has the educational background and skills necessary to work in the accounting field. However, this degree also gives graduates skills in understanding how financial decisions will impact every aspect of a company, including its future. The information that managerial accountants deal with is often very confidential and private to the businesses they are working for.
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