To determine: The task performed, skills needed, pay and opportunity outlook of the career.
Introduction: Certified management accountant is an accountant whose responsibility is to certify the information and reports, prepared for the decision making of the managers.
Answer to Problem 1CE
Some of the skill set required is bachelor’s degree, ICMA certification, business knowledge, detail orientation, writing and communication skills. The hourly wage rate in this career is $33.34 and annually it is $69,350. The career of certified management accountant is that it is projected to grow 10% from 2016 to 2026.
Explanation of Solution
The skill set which a certified management accountant requires is mentioned below:
- A certified management accountant generally requires a bachelor’s degree.
- Certification of ICMA by completing a series of examinations.
- Understanding of the business.
- Detail oriented.
- Writing and communication skills.
The wage rate of an officer working in this career is:
- Hourly wage rate- $33.34.
- Annual wage rate- $69,350.
The career of certified management accountant is projected to grow by 10% from 2016 to 2026, which is faster than average.
Want to see more full solutions like this?
Chapter 17 Solutions
UNDERSTANDING BUSINESS: SIMNET >IC<
- What are the skills and qualifications required for a management accountants?arrow_forwardDiscuss the conceptual framework for financial reporting. What are its main objectives, qualitative characteristics, and elements of financial statements? How does the conceptual framework guide the development of accounting standards?arrow_forwardAs you will be creating your own accounting firm. Make a name for your firm as well as create a vision, mission, goals and objectives.arrow_forward
- In your initial post, reflect on a current event in finance news or an event that has personally impacted you or your work recently that can be related back to the course concepts. Briefly describe the event or link to a related story and, in relation to your selected event, share at least two key takeaways related to course concepts that have impacted your understanding of the selected event and reiterated the importance of appropriately applying these concepts in corporate finance.In your response posts to your peers, reflect on any additional concepts not cited in the initial post that you think may relate to the event they shared or note any differences in your understanding of the concepts they cited. a paragraph please!arrow_forwardWrite 5 SMART goals on how you will be evaluated on your work as a Accounting Managerarrow_forwardOf the three financial ratios discussed in this chapter, which do you think is the most important financial ratio? Why?arrow_forward
- Bankers usually insist that prospective borrowers submitaudited financial statements along with a loan application.Why should financial statements be audited by a CPA?arrow_forwardDiscuss why the numbers found on a balance sheet and an income statement may not be enough to properly evaluate the performance of a business.arrow_forwardShould a management accounting system provide both financial and nonfinancial information?arrow_forward
- Foundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage LearningFoundations of Business - Standalone book (MindTa...MarketingISBN:9781285193946Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning