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Managerial Accounting

College of Letters and Science
Prof. William Maas
Division of Business and Economics
UW - Stevens Point, Stevens Point, WI  54481
(715) 346-3268
Email: wmaas@uwsp.edu


Division of Business & Economics Webpage: http://www.uwsp.edu/business


Catalog page: http://www.uwsp.edu/news/uwspcatalog/accountg.htm

addmchne.wmf (5106 bytes)

Introduction
The Institute of Managerial Accountants (IMA) defines management accounting as the process of identification, measurement, accumulation, analysis preparation, interpretation, and communication of financial information used by management to plan, evaluate, and control within an organization to assure appropriate use of and accountability for its resources. Management Accounting also comprises the preparation of financial reports for non-management groups such as shareholders, creditors, regulatory agencies, and tax authorities. Approximately 60 percent of all accountants in the United States are employed in the broad field of management accounting.

Why Study Managerial Accounting at UWSP?
Accounting has long been considered one of the more attractive fields of study in the United States. The future continues to be bright for accountants who have demonstrated accounting, interpersonal, computer, and communication skills, as well as geographic mobility.

High School Preparation
To prepare for a major in managerial accounting, high school students should focus on courses in mathematics, accounting, and computers.

Department Features
The teaching faculty for this program are part of the Division of Business and Economics and include persons representing a wide range of academic, industrial, and governmental experience and expertise. Computer use is fully integrated within the Managerial Accounting curriculum. Accounting and business-related books, periodicals, tax services, and government documents on accounting, tax, and business-related subjects are available in the University Library or through the interlibrary loan system.

Career Opportunities
UWSP alumni, when surveyed, reported the following job titles: Senior Accountant, Revenue Auditor 4, Financial Analyst, Cost Accountant - Manufacturing, Accounting Manager Trainee, Cost Analyst, Auditor, Corporate Tax Accountant, Lab Accountant, Senior Auditor, Staff Accountant, Cost Systems Analyst, Staff Auditor, and Chief Accountant.

Sample Program of Study for the Managerial Accounting Major
The Managerial Accounting major consists of 67 credits of required and elective classes. Students may declare a Managerial Accounting major at any time. Students must maintain at least a 2.5 cumulative grade point average (GPA) in all courses which apply to the Managerial Accounting major. Students failing to maintain the 2.5 cumulative average GPA may be dropped from the major. The following sample program was taken from the catalog.

Freshman Year

First Semester Credits Second Semester Credits
English 101 3 English 102 3
Political Science 101 3 Communication 101 2
Religious Studies 100, 101, 102, 105 or 107 3 Aerobic Activity/Wellness 1
Health Promotion/Wellness 102 2 Math 111 or 120 (Calculus) 4
Music 100, 102, 103 or 105 3 Biology, Chemistry, Geography or Physics 101 5
CIS 101 (Spreadsheet) 1    
       
Total 15 Total 15

Sophomore Year

Accounting 210 (Financial) 3 Bus 320 Management 3
Econ 210 (Macro) 3 Econ 211 (Micro) 3
Biology, Chemistry, Geography or Physics 101 5 History 211 or 212 as Writing Emphasis 3
Math 355 or equivalent statistics course 4 Geography 100 3
    Sociology or Anthropology 101 3
Total 15 Total 15
Summer Internship: Accounting 497 3

UWSP Managerial Accounting Graduates at work

Tax Planning and
Compliance
Tax-Related Agencies

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Management Advising
Services

Health Care Industry

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Auditing
Banks and Other
Financial Institutions

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Information Systems
Private and Public
Agencies

Completion of the Managerial Accounting major qualifies a student to sit for the Certified Managerial Accountant (CMA) and/or the Certified Public Accountant (CPA) examinations. To prepare adequately for the latter examination it is suggested that a student take Acct 331 - Federal Business Income Taxes and Bus 341 - Business Law II in addition to the required courses listed.

During the Junior and Senior years of the managerial accounting program, students complete the following required courses and are encouraged to do at least one internship in the accounting field:

  • Acct 310 - Intermediate Financial Accounting I
  • Acct 311 - Intermediate Financial Accounting II
  • Acct 320 - Managerial Accounting
  • Acct 321 - Advanced Managerial Accounting
  • Bus 340 - Business Law I
  • Bus 350 - Finance Principles
  • Bus 360 - Production-Operations Management
  • Acct 410 - Advanced Financial Accounting
  • Acct 400 - The Accounting Profession
  • Acct 330 - Federal Individual Income Taxes or Acct 331 - Federal Business Income Taxes
  • Acct 370 - Accounting Information Systems
  • Acct 420 - Accounting, Financial Analysis & Strategy
  • Acct 421 - Managerial Accounting & Financial Reporting Applications
  • Acct 450 - Auditing

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