dcsimg



Schools in the USA
Back to Career Search     

Certified Management Accountant


Description

Certified management accountants, commonly abbreviated as CMAs, are financial management professionals who combine accounting knowledge and professional management skills to provide employers with a variety of leadership and decision-making services. As a member of the management team, they apply learned management practices to monitor, interpret and communicate financial results, help management evaluate corporate performance and make decisions about product design and development. A CMA has a strong business background focusing on strategic management and resource deployment in order to synthesize total business solutions and identify new market opportunities for a company.

Unlike other accounting designations, such as CA and CGA, CMAs seek to provide solutions to improving a company's profitability and maximizing shareholder value, instead of focusing on traditional financial reporting and taxation. Nowadays, many CMAs do very little accounting work and more supervising, advising and coordinating. Their training allows them the freedom and ability to take upon a wide variety of roles and to move around different areas of business including sales and marketing, information technology and human resources.

CMAs offer their financial consulting advice to a company's management team and give presentations or write reports on such research. Their understanding of both the American economy and foreign markets is quite complex and can help businesses start up exporting ventures.

Traditionally, accountants were responsible for completing mounds of tedious paperwork, especially during peak seasons. However due to the explosion of Electronic Data Interchange (EDI) into the market, the conventional role has changed allowing the accountant to spend more time on analyzing financial statements instead of dealing with red tape thereby broadening the services accountants offer.
 
View Schools for this Career: 
         Related Careers
arrow Accounting Clerk
arrow Accounts Officer
arrow Actuary
arrow [ view all related careers ]



Program Spotlight
Matching School Ad
Post University Online
Experience an education that helps you realize your potential in a way that fits you best. Request more information about Post University today.
Programs Offered:
  • B.S. in Accounting
  • A.S. in Accounting
  • B.S. in Business Administration / Accounting
  • And more...

 

 



  Interests and Skills  
Certified Management Accountants love to work with numbers and money. They are logical people with clear and concise thinking capacities, enjoy working both alone and in a team environment, and like solving challenging financial and mathematical problems in innovative ways. In order to be successful, a CMA must be able to communicate ideas and research to the management officials in a company. CMAs must have high ethical standards and be able to apply their knowledge and skills towards each project they take upon.

Accordingly, CMAs should be interested in computers and programming, constantly working on updating their skills to meet the rapidly changing programs. Most CMAs enjoy having clear, organized methods in their daily work routines and are generally analytical and practical people. Finally, some CMAs enjoy teaching and directing the activities of others.
 

  Typical Tasks  
  • Report finances of establishment to management and advise management about resource utilization, tax strategies and assumptions underlying budget forecasts
  • Predict revenues and expenditures and submit reports to management
  • Develop, maintain and analyze budgets and prepare periodic reports comparing budgeted costs to actual costs.
  • Ensure financial recording accuracy and compliance with established accounting standards, procedures and internal controls
  • Examine accounting records and prepare financial statements and reports
  • Develop and maintain cost finding, reporting and internal control procedures
  • Analyze financial statements and reports and provide strategic analysis and decision making advice
  • May supervise articling students or another accountant
  • Unlike other accounting designations, such as the CA or CGA, that emphasize financial reporting, taxation, auditing and post-production verification work, the CMA creates from scratch and provides strategic decision making, business management and leadership advice. Certified management accountants generally work in comfortable office settings. Hours of work are constantly changing depending on the organization, level of responsibility and time of the month. Longer hours may be required during company budgeting time, month-end deadlines and the early spring tax season with year-end corporate work. Accountants working in the public service or consulting firms are required to do a bit of traveling to client's offices. Otherwise, an average day will involve office desk work, computer work and interpersonal work dealing with a management team.

  Workplaces, Employers and Industries  
  • Certified Management Accountants (CMAs) are usually employed in both the public and private sectors including businesses, government services, management consulting practices, corporate and personal tax preparation offices, banks, credit offices, public accounting offices, and educational institutions. A CMA is part of the management team in an organization, focusing on business strategy and strategic decision making.

  Long Term Career Potential  
Becoming a Certified Management Accountant is an excellent stepping stone for careers in government, business, public practice and academia. Numerous top business professionals and leaders are CMAs that have moved on to become corporate controllers, chief financial officers and vice presidents of finance. Experienced CMAs may advance to senior management positions within their companies, open their own consulting and accounting firms and some may decide to impart their own knowledge and experience and teach at the post-secondary level. Due to their broad business background and education, a CMAs chances of success are high regardless of the industry they work in.
 

  Educational Paths  
Certified management accountants (CMAs) require a university degree in a business related field. The next step is passing the National Entrance Examination which tests relevant business topics and emphasizes management accounting as an interdisciplinary profession that requires its practitioners to consider the diverse aspects of business challenges in formulating strategies to meet these challenges.

Candidates are then required to work a minimum of 24 months gaining practical experience. This experience requirement is split into two parts: operational and managerial. Finally, to achieve the highly-respected CMA designation, prospective CMAs must progress through the two year Strategic Leadership Program concurrent with their full-time employment. The Strategic Leadership component of the CMA accreditation process is unique in the industry, setting the CMA apart from other business professionals. The program is designed to meet the rapid changes in business and to address the needs of prospective CMAs who may be working in a broad range of sectors outside traditional accounting and finance.
 

Sources:
Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2014-15 Edition, http://www.bls.gov/ooh/
Bureau of Labor Statistics, U.S. Department of Labor, Occupational Employment Statistics, 2002, http://www.bls.gov/oes/2002/oes_nat.htm

Featured Schools

Matching School Ads
Post University Online
Experience an education that helps you realize your potential in a way that fits you best. Request more information about Post University today.
Programs Offered:
  • B.S. in Accounting
  • A.S. in Accounting
  • B.S. in Business Administration / Accounting
  • And more...

 
Ashford University
You've found Ashford University, where school comes to you. Earn your bachelor's or master's degree online.
Programs Offered:

 
Ashford University
The Forbes School of Business® combines the power and flexibility of online learning with high-quality, topical Forbes content.
Programs Offered:
  • MA Accountancy - Audit
  • MA Accountancy - Accounting
  • BA Finance
  • And more...

 
Argosy University
Argosy University offers doctoral, master's, and bachelor's degree programs to students through its eight colleges.
Programs Offered:
  • Business Administration - Accounting (BS) (Online)
  • Business Administration - Finance (BS) (Online)

 
California College San Diego

The Secret to Getting Ahead is Getting Started

Programs Offered:
  • Business Management & Accounting (AAS)
  • Accounting (BS)
  • Accounting - Forensic Accounting (BS)

 
Liberty University

100% Online & No Standardized Testing

Programs Offered:
  • MS in Accounting
  • MBA - Accounting
  • DBA in Accounting
  • And more...

 
Saint Marys University of Minnesota

Saint Mary's University of Minnesota's Online Master's Programs

At Saint Mary's, we take pride in offering online graduate degrees designed to complement the schedules of working adults like you. Get an affordable, convenient education from a top-ranked university that's grounded in real-world applications.

Programs Offered:
  • Master of Science in Accountancy

 
American InterContinental University Online

You’re serious about success. With your busy schedule and the desire to move your career forward, you can earn an accredited associate, bachelors or master’s degree at a pace that works for you anywhere, anytime, 24/7.

At AIU, the Serious U, you can get started to get ahead.

Programs Offered:
  • Bachelor of Accounting
  • Bachelor's (BBA) - Accounting
  • Bachelor's (BBA) - Forensic Accounting
  • And more...

 
The University of Scranton

Since 1888, The University of Scranton has grounded its education in Catholic and Jesuit principles based on intellectual growth and integrity, all of which shape the online master’s and certificate programs.

Programs Offered:
  • Master of Accountancy
  • MBA - Accounting

 
Rutgers Business School

A Rutgers business education prepares students for success – not just in their chosen fields but also in their lives.

Programs Offered:
  • Master of Governmental Accounting (Online)

 
Matching School Ads
  Universities and Colleges
Clarkson UniversityColorado School of MinesDalhousie University
Oral Roberts UniversityPenn State HarrisburgTemple University
The University of HoustonThompson Rivers UniversityUNB Saint John
University of AlabamaUniversity of ArkansasUniversity of British Columbia
University of IowaUniversity of New BrunswickUniversity of Oregon
University of OttawaYork University
Agriculture and Bio-resources | Allied Health and Health Sciences | Applied Business Technology | Architecture
Business Administration | Computer Science | Cosmetology and Esthetics | Culinary, Travel &Hospitality | Dance 
Engineering Technology & Applied Technology |Engineering | Film | Fine Arts and Design | Humanities and Liberal ArtsJustice and Security
Music
| Natural and Applied Sciences | Naturopathic and Holistic MedicineNursingPublic Administration & PolicyReligious and Theological Studies
Sport Sciences and Physical Education | Teacher Education | Theatre
Articles | College News | Videos | Feedback | Career Search
Home | About Us | Contact Us | Faq | Terms of Use | Policy Statement | Site Map | Cities Site Map

Copyright 2003- 2017 QuinStreet, Inc. All Rights Reserved.