| If one were to look at the accounting field as an | | | | job. |
| army, the Certified Public Accountant would be | | | | As such, many enter the field with their Bachelors |
| considered the foot soldier, the Certified Internal | | | | of Science, more than likely Accounting, then |
| Auditors the MPs. As for the officers? They start | | | | enroll with an online college to finish off their |
| with the Certified Management Accountant. None | | | | degree program through work-study. The |
| of these, however, will start with out a degree. | | | | Institute is also very helpful in pointing ways to |
| Management accountants assess an organization's | | | | get financial aid, both grants and scholarships at its |
| state, local and federal taxes. The role requires | | | | website. Companies who hire young accountants |
| identifying ways to lower expenses and analyze | | | | many times also offer financial assistance as part |
| monthly, quarterly and annual budgets. Depending | | | | of their employment package. |
| on the organization, they might be involved in | | | | The fact is there are really not that many |
| corporate strategic planning initiatives, manage | | | | management accountants out there. The Bureau |
| costs related to new project and product | | | | of Labor Statistics states there are only about |
| development. They also prepare reports and | | | | 65,000 of them in the U.S. When one considers |
| white papers for investors, regulators and | | | | there are slightly over 2 million accountants |
| auditors. | | | | employed in the U.S. these days, the number is |
| While one can gain entry into the accounting | | | | incredibly small. At the same time, the need for |
| profession with a Bachelors in Accounting, its | | | | management accountants is conversely huge, and |
| professional organization, the Institute of | | | | like other accounting fields the Bureau estimates a |
| Management Accounting, states getting a Masters | | | | 22% growth in positions by 2018. |
| in Accounting and/or Finance is a need. | | | | As this is truly a management position, salaries |
| Management accountants also are required to | | | | are highly attractive. The Institute states that the |
| take a two-part certification test before they can | | | | lowest salary annual recorded as $47,000. Median |
| officially carry the title. | | | | income is around $55,000, but the high end |
| A certified management accountant also has to | | | | borders at the $100,000 mark. Perks are more |
| be more well-rounded than his peers. They not | | | | than just continued education. The package |
| only have to know the difference between the | | | | almost always has excellent health care and life |
| left and right side of a balance sheet, but | | | | insurance policies, expense accounts, 401(k) and |
| knowledge of statistics, marketing, operations | | | | other retirement/investment clauses. Stock |
| management and finance usually goes with the | | | | options are not out of the realm of possibility. |