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What Do You Learn in Managerial Accounting Programs?

Written by AnonymousMay 31, 2011

Managerial accountants are an important part of any profitable organization. They record, collect, prepare, and analyze financial information managers can use to make financial decisions. Managerial accountants, also called management accountants, work internally for companies.  Unlike financial accountants, they don’t provide financial information for outside parties such as tax agencies, creditors, shareholders, or regulatory bodies.

Managerial accountants can play a large role in decision-making. Some positions require them to make risk and cost management decisions. They may also be called on to make budgeting decisions and write financial reports. To prepare for a job as a managerial accountant, students must take a number of challenging courses that not only prepare them for a career in the field, but also prepare them for the Certified Management Accountant (CMA) Exam. It is important to note that employers prefer to hire CMAs for managerial accounting positions.

Before sitting for the CMA exam, you’ll have to fulfill a number of course requirements. These courses are offered as part of the managerial accounting degree (or focus area) by schools of accountancy. Many of the courses are at the graduate/MBA level. Managerial accounting courses include: 

  • Management Accounting
  • Advanced Accounting
  • Advanced Management Accounting
  • Management Control Systems and Auditing
  • Advanced Tax Accounting
  • Financial Statement Analysis
  • Accounting for Managers (graduate/MBA) 
  • Managerial Accounting (graduate/MBA)
  • Strategic Cost Management (graduate/MBA)
  • Taxes and Business Strategy (graduate/MBA)
  • Financial Reporting (graduate/MBA)

These courses teach students how to reduce resources while increasing values, how to use accounting information to make business decisions, how to interpret accounting numbers, and how to understand internal systems. Students also sharpen their analytical and financial reporting skills.

Becoming a managerial accountant isn’t easy. In many cases, an undergraduate degree isn’t enough — especially to sit for the CMA exam. Consider earning a master’s in managerial accounting or an MBA with a focus in management accounting to better prepare you for the CMA exam and top positions in the field.