What is Managerial Accounting?
A Bachelor of Science in Accounting – Managerial Accountancy degree prepares graduates to work as auditors and accountants in support of management teams for businesses and organizations. The work that graduates of this program perform assists management in making key business decisions, particularly through the creation of financial reports for internal use. This work may also include forecasting, financial controls, taxation, strategy, and risk identification.
Why Pursue a BS in Accounting – Managerial Accountancy Degree?
This degree program prepares graduates to work hand in hand on accounting problems with management and executive management at businesses and organizations, either as an employee or as a consultant. This is a specialty within the accounting field that can also be a foundation for post-graduate study at the master’s level. Completing a master’s degree in accountancy qualifies students to take the Uniform CPA exam in most states. Graduates of these degree programs are also eligible to pursue the Certified Management Accountant designation through the Institute of Management Accountants.
Degree Prerequisites and Requirements
Most programs require candidates to have obtained a high school diploma or GED, and may also require candidates to have a GPA of 3.0 or better. For more selective programs, students should also expect to provide transcripts from college examinations such as the ACT or SAT. Students with an associate’s degree in accounting, business, or finance may be more competitive candidates for selective programs.
The courses taken for a BS in Accounting – Managerial Accountancy degree are somewhat different than the courses for a traditional degree in financial accounting. Although the accounting principles are the same, most of the work that managerial accountants perform is for the internal use of an organization’s management, which can impact the information and accounting practices used. Typical courses that students take in preparation for this work include:
- Introduction to Management Accounting
- Advanced Management Accounting
- Business Law
- Cost Accounting
- Federal Income Taxation
Career Opportunities for Graduates
Graduates have the opportunity to work at a high level in business after graduation. With a complex business and as one of the largest companies in the US in any industry according to the Fortune 500, Exxon Mobil is an energy and technology giant with a global reach. Exxon Mobil frequently posts openings for managerial accountants. Retailers of all sizes rely on managerial accountants to provide cost accounting and other accounting services for their business. Walmart is one of the largest retailers in the world, with over two million employees working in 27 countries. Walmart regularly has openings for managerial accountants and auditors. Headquartered in Detroit, General Motors is one of the world’s largest automakers and has rebounded as an industry leader. This highly innovative company employs over 200,000 individuals worldwide. General Motors seeks highly qualified finance professionals to join its ranks.