Role of the Management Accountant

Learn what a management accountant does and how you can have a career in this exciting accounting field.

What Do Management Accountants Do?

accountants in the role of management accountant duties

Also known as corporate accountants, management accountants work within one specific company.

The role of the management accountant is to perform a series of tasks to ensure their company's financial security, handling essentially all financial matters and thus helping to drive the business's overall management and strategy.

Management accountants are essentially key figures in determining the status and success of a company. Some choose to become a Certified Management Accountant (CMA), a similar credential to CPA, but with a greater focus on cost accounting, financial planning, and management issues.

Job responsibilities can range widely. Depending on the company, your level of experience, the time of year and the type of industry, you could find yourself doing any of the following tasks:

Budgeting
Handling taxes
Managing assets to helping determine compensation and benefits packages
Aiding in strategic planning

learn the role of the management accountant

Management Accounting Career Path

	Entry Level	Mid Level	Senior Level
Type of Roles	Staff accountant, cost accountant, junior internal auditor, tax accountant	Accounting manager or senior accountant, senior internal auditor	Controller, director of accounting or finance, CFO
Experience	1 - 4 years	5 - 9 years	10+ years
Getting There	Bachelor degree in finance or accounting Strong technology skills (specifically in Microsoft Excel)	All entry-level requirements Strong communication and analytical skills An MBA with a focus in accounting, MAcc or CPA or CMA certification is recommended	All mid-level requirements Track record of excellence and leadership in the field Solid management skills Knowledge of the industry and US accounting principles A graduate degree—MBA or MAcc—and/or CPA or CMA certification is desired
Description	Work under a senior accountant or manager Do tasks involving receivables and payroll, financial statements and compliance audits Help in the budget department Prepare reports for the controller's department	Prepare financial statements Assess internal controls Analyze and/or prepare monthly financial information Help create company budgets Supervise accounting staff Complete and review tax returns Help manage the general ledger	Responsible for all or part of a company's financial status, actions and transactions Coordinate accounting operations Hire, train and oversee staff Maintain budget Perform financial analysis Build business strategy Manage relationships with investors and auditors
Median Salary*	$53,766	$70,885	$92,457

_{*Depends on company size, specific job and location
Sources: Robert Half International; PayScale.com, 2011; Bureau of Labor Statistics, 2010}

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Role of the Management Accountant

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