Preparing for careers in management accounting & financial management

Article Abstract:

A 1994 study conducted by the Institute of Management Accountants (IMA) and the Financial Executives Institute indicated that entry-level management accountants are not adequately prepared for the job. They were found to be lacking in practical experience, communication and social skills, preparation in manufacturing accounting, and understanding of how the 'real world' works. According to a 1996 IMA study, entry-level management accountants are often engaged in such activities as accounting systems and financial reporting, managing the accounting/finance function, internal consulting, internal auditing, and investing of funds. Accounting graduates can prepare themselves for the challenges in the management accounting/financial management professions by participating in the Certified Management Accountant and Certified in Financial Management programs.

Financial Personnel, College graduates, Financial management, Financial occupations

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10 myths for not pursuing the CMA

Article Abstract:

Ten myths are presented related to reasons for not pursuing the Certified Management Accountant (CMA) designation. The myths include the beliefs that: CMA certification lacks the prestige of the CPA; the belief that CMA certification is not accepted in the marketplace; and CMA certification is not needed for advancement. The CMA program was initiated in 1972, but it was not immediately accepted in the marketplace. However, today it is accepted, and certification means a higher salary.

Standards, Accountants

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10 steps to a successful career

Article Abstract:

Ten steps for planning a career in managerial accounting are presented. The steps include becoming a Certified Management Accountant; acquiring a broad education; and developing problem-solving skills.

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