Why earn a bachelor's degree in managerial accounting?

A bachelor's degree in managerial accounting can prepare you for a career in this specialized, high-demand sector of the accounting field.

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Earning a Bachelor's Degree in Managerial Accounting

Managerial accountants are also known as cost, management, industrial, corporate or private accountants. They take control of budgeting, risk management, performance evaluations and more at the companies they support. You'll find managerial accountants in different branches of accounting departments, including planning and budgeting, cost accounting and financial analysis.

Pursuing a degree in managerial accounting means gaining a specialized level of knowledge in an essential sub-field of accounting. Explore your training options and learn what credentials you'll need to qualify for entry-level jobs in the managerial accounting field.

Career Options with a Degree in Managerial Accounting

A degree in managerial accounting is likely to advance your career and boost your salary potential. The Bureau of Labor Statistics (BLS) reports that accountants and auditors working in the management of companies and enterprises earned annual mean wages of $66,330 in 2009, or $31.89 an hour. With about 74,030 workers nationwide, management accountants make up a small proportion of the 1.1 million accountants employed across the country.

Job Outlook for Managerial Accountants

Employment opportunities for accountants and auditors are expected to grow 22 percent between 2008 and 2018, according to the BLS. Management accountants in particular are poised to see growth, as organizations push towards greater accountability and attempt to discover and eliminate fraud in advance of IRS audits.

Credentials and Advancement

Management accountants have a lot of mobility in their years of employment. With a managerial accounting degree, you might start out as a junior internal auditor or a cost accountant, moving up to become a management accountant. From there, you could advance to become a chief financial officer or a financial vice president.

The major certification for management accountants is the Certified Management Accountant (CMA) designation, conferred by the Institute of Management Accountants. Applicants must meet the following criteria:

Complete a bachelor's degree or attain a minimum score on specified graduate school entrance exams
Work at least two years in management accounting
Pass a four-part exam
Agree to meet continuing education requirements
Comply with standards of professional conduct

Given the rewards of this niche accounting career, these educational and professional qualifications are well worth the investment.

Earning an Online Bachelor's Degree in Managerial Accounting

Accounting balances legal policy and math knowledge, and any degree program you pursue in the field will have elements of each. A managerial accounting degree should cover the basics of accounting, plus specific management-centered topics, including:

Capital structure
Working-capital policy
Financial statement analysis
Valuation issues
Risk management

Wondering where you'll find the time to head back to school? An online bachelor's degree in managerial accounting can make it easier to balance your commitments. Logging on from anywhere to complete your coursework means you're free to work, travel, and keep your free time without putting off your education.

Explore your coursework options for managerial accounting and get a better idea of the career training you can find online. Looking for even more options? Explore online accounting degree programs and campus-based accounting bachelor's degree programs.