What Are the Duties of a Managerial Accountant?

Often called management accountants, managerial accountants apply their math and analytical skills to help companies improve their financial situations. Read on to learn more about the duties involved in this profession. Schools offering Managerial Accountancy degrees can also be found in these popular choices.

Duties and Responsibilities

As a managerial accountant, you'll record and maintain financial data for a company or government agency. You'll analyze this information and present your findings to company executives, who use this information to make informed decisions about the business's finances, investments, and operations. You may also help companies plan budgets or advise management on business decisions.

Important Facts About Managerial Accountants

Required Education Bachelor's Degree
Median Salary (2014) $65,940 per year (for accountants and auditors)
Job Outlook (2014-2024) 11% growth (for accountants and auditors)
Similar Occupations Budget Analyst, Cost Estimator, Financial Manager

Source: U.S. Bureau of Labor Statistics

Computer Skills

As a managerial accountant, you'll work extensively with computers and accounting software, which are becoming increasingly important in the field. Many times, accountants with specialized computer skills help develop software that accumulates and organizes financial data. They may also implement and maintain networks or information systems. According to the U.S. Bureau of Labor Statistics, accountants who are experienced or trained in information technology and accounting software may enjoy greater employment opportunities (www.bls.gov).

Job Possibilities

Managerial accountants may work as part of management teams of private companies, local and federal government departments, or non-profit organizations. You might also be self-employed and provide your services to companies and executives on a contract basis.

While managerial accountants often work directly for company management, you might also be employed through a company's accounting department. In the accounting department, you can assist with asset investments and expenditures, cost management, financial planning, and operations evaluation.

You might also focus on a particular function of managerial accounting. For example, you could be responsible for composing financial analysis reports, or you could lend your services to a planning and budgeting department. Some managerial accountants focus only on cost accounting, which involves managing production costs.

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