Management Accounting Degree Guide

Accounting majors can choose from many concentrations. Financial accounting, auditing, and public accounting are popular choices. But what is management accounting?

Also known as managerial accounting, this concentration uses financial data to make business decisions. Students who focus on management accounting learn to analyze financial statements to make strategic choices about budgeting and operational planning.

A management accounting focus can prepare graduates for in-demand certifications and lucrative careers. Whether you already have an accounting degree or you’re choosing your major, understanding the degree levels and certificate options for management accounting can help you make an informed decision.

Managerial accounting applies accounting principles to management decisions. These accountants use their ability to analyze financial documents to develop business strategies. For example, management accountants may evaluate costs and budgets to identify areas to increase revenue. They also create data-driven forecasts to help business leaders make decisions.

What’s the difference between studying management accounting versus accounting or management? This field applies accounting principles to managerial decision-making. While other accounting specialties may focus on financial reporting or taxation, managerial accounting generates the data managers need to succeed in business.

Management accountants use their knowledge of cost accounting, forecasting, and budgeting in their jobs. They also need an in-depth understanding of financial analysis and organizational management. Strong analytical and research skills, plus attention to detail, benefit management accountants.

Both undergraduate and graduate accounting programs offer managerial accounting focuses. Studying managerial accounting can lead to careers as a certified management accountant (CMA), financial analyst, budget analyst, or accounting manager.

Find out more about management accounting careers:

During an accounting program, learners build foundational accounting and auditing skills. Programs with a management accounting focus prepare graduates to analyze financial information to make business decisions.

Core managerial accounting skills include:

Students considering a management accounting degree or certificate will develop these applied skills throughout their program. Graduate-level programs provide a more in-depth look at managerial accounting skills and strategies. Studying management accounting also strengthens soft skills in communication, critical thinking, and problem-solving.

Students interested in managerial accounting can enroll in programs at the undergraduate and graduate levels. Although undergraduate programs may not offer a management accounting concentration, building core accounting knowledge and taking managerial accounting electives can prepare undergrads for careers in this field or further education.

Undergraduate certificates provide focused accounting courses that typically take less than one year. While many colleges offer undergraduate accounting certificates, learners may not find many in managerial accounting. Completing an accounting certificate that includes foundational courses in financial accounting, cost accounting, and management can build career-ready skills.

The skills covered in an undergraduate accounting certificate may include:

A two-year associate degree in accounting strengthens core accounting and business knowledge. Few colleges offer a management accounting major at the associate level. Studying accounting principles and management can develop the skills needed for additional study in management accounting.

This degree prepares graduates for entry-level roles such as accounting clerk, bookkeeper, or accounting assistant. Graduates can transfer into a bachelor’s program with an associate degree. This degree typically meets the general education requirements for a bachelor’s degree, allowing transfer students to focus on upper-division management accounting courses.

A bachelor’s in management accounting builds the skills graduates need for the CMA exam and careers in managerial accounting. During a management accounting major, undergrads study corporate accounting, budgeting, risk management, and managerial accounting ethics.

Colleges offer several four-year bachelor’s degrees that focus on managerial accounting, including:

Degree-seekers at colleges without a management accounting focus can individualize their course of study. Accounting majors can earn a minor in management or take elective courses in managerial accounting and related subjects.

A graduate certificate in managerial accounting builds specialized skills. These programs typically take less than one year and offer graduate-level courses on financial decision-making, operations management, and cost accounting.

The strategic decision-making, forecasting, and financial planning skills gained during a graduate certificate in managerial accounting can prepare graduates for the CMA exam. A graduate certificate can also help accounting or business majors specialize their knowledge with advanced coursework in managerial accounting.

A master’s in management accounting incorporates advanced courses on cost analysis, budget planning, compliance, and auditing. These programs also cover corporate financial analysis, data analytics, and forensic accounting. Graduate students develop the decision-making and strategy abilities needed for management-level roles in accounting.

Universities may offer different tracks, including:

Earning a master’s degree in accounting typically takes two years, though some universities offer one-year accelerated programs. With a management accounting master’s degree, graduates can pursue professional certifications such as the CMA or certified public accountant (CPA) credential.

Undergrads who know they want to work in management accounting benefit from majoring in the field. A bachelor’s in management accounting can lead to opportunities as a cost accountant, financial analyst, auditor, or budget analyst.

With a bachelor’s in managerial accounting, professionals can also pursue graduate programs in management accounting or related fields. An MBA, for example, strengthens management and leadership abilities.

Because many colleges do not offer undergraduate management accounting majors, degree-seekers can choose to specialize in this area at the graduate level. A graduate certificate or master’s degree helps accountants develop specialized managerial accounting skills and can lead to management-level roles such as accounting manager, financial controller, or financial manager.

Either an undergraduate or graduate program can prepare accountants for the CMA credential. The Institute of Management Accountants (IMA) offers CMA certification, demonstrating managerial accounting experience and knowledge. According to IMA research, CMAs earn 21% more than non-CMAs.

Learn more about the CMA credential: