Managers must also be good decision makers who are capable of managing risk. There are many complex mathematical formulas involved in the day to day operations of publicly traded companies, and managers must be able to solve complicated problems that arise through a variety of financial accounting principles. Managers must also be excellent problem solvers and good communication designers.
If you have a business minded skill set, managerial accounting or financial accounting background will be an asset to your career choice. Most large publicly traded companies employ these types of personnel. In the United States, there are many degree programs that will prepare you for positions as an accountant or bookkeeper. Some of these degree programs are available at traditional post-secondary institutions such as colleges and universities as well as online.
The examination for managerial accounting and financial accounting has become increasingly harder in recent years. In previous decades, if you wanted to work in a managerial position, it was not unusual at all to graduate from an accounting program and obtain a job in a large corporation. Graduates quickly became seasoned professionals with great managerial skills. In recent years, it has become increasingly more difficult to gain employment as a result of a tightening job market and rising unemployment.
If you are serious about becoming a manager, you should take the time to receive a four-year degree in either business or accountancy. Most business majors will require some managerial accounting and financial accounting training as part of their coursework. You can attend classes at a local community college or technical school. Online programs are also available. It is imperative that you find the right program for you so that you will be well prepared to enter the competitive field.
Another option for earning a degree in managerial accounting and financial accounting is to enroll in an online university or a correspondence program through a local university or college. You will still earn a bachelor’s degree, but you will have the opportunity to sit for the CPA exam, take classes in accounting, numerical analysis, statistics, and other related courses. Your credits will include classroom work, required book learning, specialized internships, as well as participation in the university’s financial statements courses.
Once you complete your degree, you will want to join a professional accounting organization, such as the American Institute of Certified Public Accountants (AICPA). Members of this organization must successfully complete a CPA exam that tests knowledge of internal users and internal control mechanisms. In order to become a member, CPAs must successfully pass this exam as well as an exam that tests knowledge of transactional, managerial, and financial reporting. After completion of these three important exams, CPAs are required to take the state board exam. Once you are certified by the state board, you can begin to find jobs in a variety of areas within the accounting profession.
One thing that may deter you from enrolling at a traditional university is the cost. While there are many online universities that offer courses in managerial accounting, they are significantly more expensive than those offered in traditional colleges. If you cannot afford the cost of a traditional university degree program, you may want to consider earning your undergraduate degree at a community college or a technical college. There are also options available for distance education, which allows you to study at your own pace without the stress of commuting to campus every day. You will be able to complete your program at your own pace, and while the cost of the online courses may initially scare you off, it may end up being a better investment in the long run.