As stated in Just My Type, I love the topic of managerial accounting. What really draws me to it is the “managerial” part! I like the idea of having influence and being able to participate in the decisions a company makes. I also feel when employees are engaged in decision making they tend to care more about the job they are doing: everyone wants to feel like they are a part of something.
So, if you want to be an accountant but you do not just want to stay behind the scenes, managerial accounting is a great direction to take your career. As you can imagine, probably every business needs at least one person interested in managerial accounting. Sure they need people who can collect and organize important financial data, but they also need someone who can explain to others why the information is important. This accountant would be involved in decision making because they have the knowledge required to keep the business efficient, to make a proper budget, and to keep the business going in general. A good way to put it was found in an article in allbusinessschools.com. It says that managerial accounting is “handling essentially all financial matters and thus helping to drive the business’s overall management and strategy.”
To be a management accountant you do not need to become a Certified Management Accountant (CMA). However, just like becoming a CPA is greatly encouraged, so is acquiring your CMA. This will tell employers that you are legitimately interested in and capable of being in charge financially. The CMA is scholastically close to the CPA, “but with greater focus on cost accounting, financial planning, and management issues” (allbusinessschools.com). Click here for more information on the CMA exam.
I am really looking forward to my career in accounting and I am happy to learn that there is such focus on managerial accounting in the real world!