A Management Accountant plays a crucial role in keeping businesses large and small operating. This profession needs a university education, as the role they hold demands them to fully understand the in and out of the business. Based on the kind of career in accounting and finance (private organization, government or non-profit), the accountant’s annual salary will vary a bit.
The salaries for accountants also range vastly, based on the health of the economy and employment numbers. Another determining aspect that can impact an accountant’s salary range is the highest level of education gained as well as the certification they hold.
A Management Accountant is always given top priority when compared to an individual who is not certified. If one is interested in enhancing their career then doing an accounting and finance certification is totally understandable because they would want to know their earning potential in the global market.
Let’s have a look at the salary range for a Management Accountant in USD who has an accounting and finance certification:
A Management Accountant is in charge of finances. They take overall responsibility for the accounts and look for the ways to increase the profitability. They also work for one company unlike other accountants who can work for several organizations. And they also manage a team of other financial individuals. The job role of a Management Accountant on day-to-day could be:
- Analysing performance
- Preparing financial statements
- Identifying and managing risk
- Tracking spending and setting budgets
- Preparing accounts
- Making financial forecasts for the firm
- Presenting financial reports
- Formulating business strategies
- Creating and maintaining the organization’s budgets
- Managing a organization’s general ledger
- Staff supervising in accounting or finance departments
- Preparing and reviewing organization’s tax returns
- Completing internal audits
A career in accounting and finance provides many opportunities and this role can truly open doors for the individuals who wants to take up this as their profession. As a management accountant they will be in demand, all across the world.
CIMA accounting for Management Accountant
Doing an accounting and finance certification is an excellent add-on to any finance or accounting related resume, and several employers will favorably consider applicants who list it as a part of their career achievement.
Chartered Investment & Management Accountant (CIMA®) is the world’s most uniquely crafted powerful qualification. This CIMA accounting certification is mainly designed for accounting and finance professionals who are seeking to significantly enrich their job and career prospects by super-specializing in the major advanced areas of investment accounting and management accounting in the global platforms.
The perks that CIMA accounting certification offers, cannot be achieved with a standard degree. To better understand its perks, here are top perks that one can acquire by doing this certification.
- Faster and easier advancement in career
- Versatility and enhancement in the career
- More, high and attractive earnings
- Well-recognized and appealed globally
The important prerequisite for the CIMA® certification is to possess at least a bachelor’s degree from an accredited university in any discipline. Higher qualifications like Master’s or MBA, or specialist professional qualifications in finance, accounting and related disciplines can enhance the CIMA® journey through registration under CIMA® Master’s or Professional pathways that need taking a single, unified exam.
- Candidacy Tracks
CIMA accounting certification has 3 candidacy tracks that will be helpful for a professional to understand the most suitable option they can opt for. The following are the 3 candidacy tracks:
- Standard Route
This track is for individuals whose most recent qualification is a bachelor’s degree from a nationally or internationally recognized/accredited institution. The background or major is no limitation, though, if one holds a prior exposure to accounting, finance or business, their certification journey completes a lot easier as well as quicker.
- Master’s Pathway
CIMA Institute USA master’s pathway is the swifter candidacy track if one wants to do or pursue a master’s degree like MBA/MS/M.Sc. in business, finance, accounting or related fields from a nationally/internationally recognized institution, or from a B-school accredited by international organizations like the AACSB, AMBA and EQUIS. One can accelerate their process to get this credential by exam-exemptions in 8 of the 20 standard CIMA® modules and take an exam instead of two.
- Professional Pathway
Choose this quicker CIMA® candidacy track and be a chartered management accountant if you want to do a professional qualification or certification in finance, accountancy, corporate law, management accountancy, company secretary ship, cost accountancy, public accountancy or similar or related fields from a professional association or a certification body. CIMA® program journey can be speed-up by taking a single, unified exam instead of two, and by earning exam-exemptions in 9 of the 20 standard CIMA® modules.