How Does a Certified Management Accountant Spend a Workday?
Other People Are Reading
-
Typical Work Day
-
Accountants generally set up a system for and then keep track of all financial records--how much comes in and goes out. They prepare reports such as tax returns and financial statements. They also conduct audits to make sure that all financial records are accurate.
Management accountants go a step further. They are financial managers who play a significant role in companies' strategic decision making processes. So in addition to the above duties, they help companies reduce their costs by finding ways to cut inefficiencies. They also help other managers with their respective budgets and explain some difficult-to-understand financial matters to them. CMAs are busier than normal during reporting times, such as at toward the end of a quarter or fiscal year.
A CMA's workday involves hours spent looking at a computer screen, crunching numbers, on the phone and in meetings. Depending on the size of the company at which a CMA works and how many branches it has, a CMA's job could also include significant amounts of travel. A CMA is usually a mid-level to upper-level employee within a company, and could possibly rise to become CFO (Chief Financial Officer).
Becoming a Certified Management Accountant
-
The career track for becoming a CMA starts with an accounting or related degree, followed by a series of professional exams and certifications. Many CMAs are also CPAs. In order to earn the CMA designation, an accountant needs to meet certain education and experience qualifications as well as pass the CMA examination. For details on these requirements, see the link in Resources below.
-
-
