Management Accounting: A Career Beyond Numbers
Certified management accountant (CMA) is a qualified professional who possesses a combination of expertise in strategic management policies and financial accounting. He/she is responsible for analysis of costs which establishes a structure for the budgets, plans as well as financial decisions of an organization. These professionals are a valuable asset to business organizations as they are capable of improving the efficiency and management of an organization.
To become a Certified Management Accountant, one needs to fulfill certain criterion. Firstly, one needs to finish his/her degree in CMA to certify as a management accountant in the world of accountancy. Moreover, the launch of new businesses increases the demand of management accountants. So how lucrative is management accounting as a career? How can you become a management accountant? What is the salary of a certified management accountant? Let us have a closer look at the career prospects in the field of management accountancy.
Well, to be called a Certified Management Accountant, an individual needs to obtain the certification. So you actually need to pass the examination and thus obtain the certificate. However, it is not a cake-walk. One needs to dedicate himself/herself to studies for passing the examination.
After becoming a Certified Management Accountant, you would experience its benefits in the form of a career. Not only would you have the chance to get immediate employment, but also employers would be on a lookout for you provided you prove your skills in the field. Moreover, attractive remunerations and job security add to the charm of management accounting as a career.
As a fresher, the salary of a certified management accountant might vary due to several factors. These factors are job description, responsibilities, location etc. Moreover, salaries in two regions of the world differ because of socio-economic and geographical factors. Besides this, it is also decided by the reputation, nature of work, experience and market capitalization of the organization.
Generally, the starting salary of a certified management accountant ranges between $ 60,000-80,000 on an annual basis. However, as you become experienced and learn the technicalities of the game, you are liable to get better salaries as well as vertical growth.