Accountants: Auditing and Management Accountants Essay

Submitted By qwerty01282012
Words: 619
Pages: 3

Management Accountants and Internal Auditors “The three things I like most about my career are the variety of projects that I am involved in, the frequent interaction I have with others in pursuit of a common goal, and the problem-solving nature of my job.” (C. Johnson, Controller) Management accountants and internal auditors are watchdogs of efficiency, effectiveness, and compliance. Management accountants study and interpret business numbers, such as earnings and salaries. While Internal auditors, on the other hand, check that records are accurate and that controls are in place to protect against fraud and waste. | The management accounting section will deal with advanced material related to the area. Studies will involve accounting pricing decisions and performance measurement in general, within organizational structures. This part will also include an examination of the elements of strategic management and the different contributions that have been made. The internal auditing part will overview the foundations of modern internal auditing and the internal control framework. This will include planning and performing internal audits, including effectiveness and benchmarking as well as organizing and managing internal auditor activities.
The type of roles consist of staff accountant, cost accountant, senior internal auditor, tax accountant, controller, director of accounting and CFO. Getting there may take a lot of work; this requires all mid-level requirements, track record of excellence and leadership in the field, solid management skills, knowledge of the industry and US accounting principles, and a graduate degree. Responsible for all or part of a company's financial status, actions and transactions, coordinate accounting operations, hire, train and oversee staff, maintain budget, perform financial analysis, build business strategy, and managing relationships with investors and auditors.
According to the U.S. Bureay of Labor Statistics, the average yearly salary of accountants and auditors in 2011 was $70,130. There are an estimated five million accountants and financial professionals working in the U.S. Employment of accountants is expected to grow by 18 percent between 2006 and 2016. (U.S. Bureau of Labor Statistics) IMA represents more than 65,000 members who work in public and private corporations, academia, and not-for-profit institutions. IMA has over 200 local chapters and councils worldwide. Today there are more than 20,000 active CMAs (Certified Management Accountants). Professionals with a CMA can earn 25 percent more in total compensation on average than noncertified peers. (IMA Salary Survey, 2009)
Management accountants review and analyze information