Prepare for high-demand careers in managerial accounting, and to sit for the Institute of Managerial Accountants’ (IMA) Certified Managerial Accountant (CMA) examination. The Bachelor of Science in Managerial Accounting focuses on the practical skills and knowledge which the IMA has identified as the essential to the field. Learning outcomes and coursework are directly aligned with the practical experience and academic requirements of the CMA certification examination. Graduates will be well prepared to work in this exciting and growing field, with both the knowledge and application-based training to make important institutional decisions based on sound financial principles.
What Is Managerial Accounting?
Managerial accounting is a branch of accounting that focuses on helping internal managers to make decisions and set goals. Managerial accountants are experts at analyzing an organization’s operational metrics, and then turning this data into useful information that management can use to make informed decisions. Sometimes managerial accounting is also referred to as cost accounting or management accounting.
Managerial Accounting vs. Financial Accounting
Managerial accounting is different than financial accounting in that it is more concerned with providing operational reports that are useful for internal management. Financial accounting focuses more on the reporting of a company’s financial transactions to investors, lenders, and other external audiences. Financial accounting must also comply with a variety of accounting standards that do not apply to internal (managerial) accounting practices.
IMA Certification
Full IMA certification requires that you earn a bachelor’s degree in finance, accounting, or economics; pass the CMA exam; and complete two years of work experience in one of the following areas:
- Financial statement preparation
- Financial planning and analysis
- Auditing (external or internal)
- Budget preparation and reporting
- Corporate investment decision making
- Costing analysis
This experience requirement can be earned prior to, or within seven years of passing the CMA examination.
Cambridge College Managerial Accounting Highlights
Combining value and convenience, our programs are tailored to the needs of adult learners. These are a few of the benefits of choosing Cambridge College for your managerial accounting degree.
- IMA certification training. The managerial accounting curriculum is designed to prepare you for the Institute of Managerial Accountants’ (IMA) Certified Managerial Accountant (CMA) examination.
- Career-focused learning. The Cambridge College teaching model gives you the opportunity to learn managerial accounting principles in addition to effective, practical techniques. The program also includes a research intensive final capstone project.
- Flexible class schedules. Cambridge College offers day, evening, weekend, and online course options to meet the needs of working professionals. Talk to a Cambridge College academic advisor to start planning a course of study that works for you.
- Affordable tuition. Rated one of the most affordable four-year private nonprofit colleges in the United States, Cambridge College offers a world-class education at an exceptional value.
- Experienced faculty. Cambridge College faculty are experienced accounting professionals and accessible teachers who are here to help you succeed.
- No SAT or ACT tests required. Get started on your management degree quickly and efficiently. We offer an easy online application and do not require SAT or ACT tests for admission to our undergraduate programs.
The Institute of Management Accountants reports that professionals who have earned the CMA certification make nearly $28,000 more in total compensation each year than their non-certified peers. CMAs earned an average annual salary of $108,455 according to the most recent survey conducted in 2013. The total average compensation for CMAs that year was $125,734 including bonuses.
As of 2013, those just beginning their careers reported an average annual salary of $70,276 in the first few years after earning their CMA designation. The survey data revealed that those working in public accounting earned the highest average salary at $141,685.
(Source: https://www.accountingedu.org/management.html)