Job Profiles for CMAs

Job Role

Description

Average Salary

Management Accountant

A management accountant is responsible for analyzing past data and predicting the future needs of the organization. They provide financial information and analysis to support internal decision-making. Moreover, they focus on cost analysis, budgeting, and strategic planning to help management optimize resources, reduce costs, and increase profitability.

$62,601

Cost Accountant

A cost accountant is a professional responsible for analyzing and controlling the costs associated with producing goods or providing services. They develop cost standards and implement cost accounting systems for the organization. Their responsibility also includes tracking and allocating costs to products or services, analyzing cost variances, and providing insights to management to help optimize cost and improve profitability.

$77,730

Financial Analyst

A financial analyst is a professional who is required to estimate the financial data of companies and anticipate investment opportunities to provide insights and recommendations to stakeholders. They analyze financial statements and use financial modeling techniques to support decision-making.

$86,009

Financial Risk Manager

A financial risk manager is a professional who identifies, assesses, and manages financial risks within an organization. Their responsibilities include analyzing market risks, operational risks, and regulatory risks to implement risk management strategies and policies that improve the organization’s financial interests.

$138,096

Chief Financial Officer

The Chief Financial Officer is the highest-ranking financial executive within an organization who is responsible for managing the company’s financial operations. The CFO oversees financial reporting, budgeting, risk management, and investor relations, and provides strategic guidance to senior management.

$439,956

How to become a Certified Management Accountant (CMA)?

Similar Reads

Who is a CMA?

A Certified Management Accountant (CMA) is a professional designation in management accounting and financial management. CMAs are typically involved in strategic financial management and decision-making within organizations. They are well-versed in various aspects of accounting, financial planning, analysis, control, decision support, and professional ethics. To become a CMA, individuals usually need to meet certain educational and experience requirements, pass a rigorous examination administered by the Institute of Management Accountants (IMA), and adhere to a code of ethics....

Steps to Become a CMA

The steps to become a Certified Management Accountant(CMA) are as follows:...

Skills of a CMA

1. Analytical Skills: Certified Management Accountants must have strong analytical skills to interpret financial data, identify trends, and make recommendations and informed decisions based on their analysis....

Job Profiles for CMAs

Job Role Description Average Salary Management Accountant A management accountant is responsible for analyzing past data and predicting the future needs of the organization. They provide financial information and analysis to support internal decision-making. Moreover, they focus on cost analysis, budgeting, and strategic planning to help management optimize resources, reduce costs, and increase profitability. $62,601 Cost Accountant A cost accountant is a professional responsible for analyzing and controlling the costs associated with producing goods or providing services. They develop cost standards and implement cost accounting systems for the organization. Their responsibility also includes tracking and allocating costs to products or services, analyzing cost variances, and providing insights to management to help optimize cost and improve profitability. $77,730 Financial Analyst A financial analyst is a professional who is required to estimate the financial data of companies and anticipate investment opportunities to provide insights and recommendations to stakeholders. They analyze financial statements and use financial modeling techniques to support decision-making. $86,009 Financial Risk Manager A financial risk manager is a professional who identifies, assesses, and manages financial risks within an organization. Their responsibilities include analyzing market risks, operational risks, and regulatory risks to implement risk management strategies and policies that improve the organization’s financial interests. $138,096 Chief Financial Officer The Chief Financial Officer is the highest-ranking financial executive within an organization who is responsible for managing the company’s financial operations. The CFO oversees financial reporting, budgeting, risk management, and investor relations, and provides strategic guidance to senior management. $439,956...

Salary of CMAs

As per the survey held by the Institute of Management Accountants (IMA) in 2023, the average salary of a Certified Management Accountant in the USA is $124,000 per year. People with a CMA certification earned 24% more in their median salaries than those who don’t have certification. However, the range of salary depends on various factors such as required skills, job location, experience of the person, job title, company size, etc....

Tips and Strategy to Clear CMA Exam

1. Understand the Exam Structure: Candidates should familiarize themselves with the CMA exam structure, contents, and format. The exam consists of two parts, each with objective and subjective questions. Understanding the exam and weightage of each topic will help the candidate to allocate the study time effectively....

Certified Management Accountant (CMA) – FAQs

What is IMA?...

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