What is the job of a managerial accountant?

I'm curious about becoming a managerial accountant after high school or college. Can someone explain what the main responsibilities are and what skills I would need? Also, is there specific education or certification required for this career?

Sure, I'd be happy to provide more insight into the role of a managerial accountant.

The primary duties of a managerial accountant revolve around the management of financial data within a company, with an emphasis on internal decision-making. They carry out tasks like budgeting, performance evaluation, cost management, and asset management. Their work is often used to strategize and forecast future projects, understand financial trends within the company, and make informed economic decisions. Ultimately, their work helps steer the company's financial direction.

In terms of skills, a few key ones stand out. You would need strong analytical skills, as much of this job involves analyzing financial data to identify trends or issues. Communication skills are also essential since you'll often be explaining complex financial information to executives or other team members. Lastly, you should be well-versed with various financial management softwares and tools, as they're commonly used in this industry.

Regarding education, most managerial accountants have at least a Bachelor's degree in Accounting or a related field. Some positions might require a Master's in Business Administration (MBA) or a Master's in Accountancy. There are also certifications you can acquire which may boost your career prospects. For example, the Certified Management Accountant (CMA) is a well-respected credential in this field, and it demonstrates you have a high level of competency in management accounting.

It's important to note that really understanding the inner workings of a business and its financials can take time, so many managerial accountants start in other accounting roles and work their way up to this position as they gain experience and knowledge.