Accounting Financial Accounting Is an Research Paper

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The management accounting leads candidates into finance, risk management and even production management. While CMA certification is not necessary to pursue a career in management accounting, it is recommended. The IMA claims that certified management accountants earn on average $25,000 more per year than non-certified peers (IMA, 2011).

As with the accounting profession in general, there is increased demand for management accountants. CMAs are in demand because of their ability to contribute to the profitability of businesses, and demand for CMAs is expected to grow in coming years. Because CMA job duties are less structured than those of financial accountants or auditors, CMAs enjoy greater career flexibility. Both types of accounting positions are poised to enjoy significant growth.

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There is also a trend in business, particularly since Sarbanes-Oxley, of looking to accounting professionals to lead firms. More CEOs are coming from the accounting stream than ever before, which highlights the importance of all types of accounting functions in today's business environment (Taub, 2003). Thus, the prospects for both accounting streams are good for the future, and certification in one or more disciplines is a valuable part of one's career growth in accounting. Management accountants have more flexibility and creativity initially, but both types of accountants are in high demand and make significant contributions to their companies.

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