Need help with managerial accounting? These are the best online resources.
Are you looking to improve your managerial accounting skills? Honing these skills will make your organization run better than ever. Here are some of the best resources to get you started.
What Is Managerial Accounting?
Wondering where to begin? Let’s start with the basics.
You might think that all accounting is the same. In actual fact, it isn’t. There are two main branches of accounting. The first is financial accounting; the second is managerial accounting.
You cannot have a complete picture of how your organization is doing without both these components.
Financial accounting uses balance sheets and financial reports to provide information to those outside of the organization. Lenders, stockholders, and the IRS all receive the financial accounting information.
These are factual reports about how the business or organization has been performing. They do not include any information about upcoming strategies, goals or plans.
Managerial accounting, on the other hand, is an internal process. These reports look at every component of the organization, such as budgets, performance reports, and future projections.
Managerial accounting is used to relay information to an organization’s leadership. The collected information will influence how the managers and directors make decisions and move their organization forward.
Managerial accounting consists of the identification, analysis, and interpretation of pertinent information in the quest to achieve outlined goals. Maintaining appropriate managerial accounting allows for the continued growth and success of an organization.
The information gathered during the managerial accounting process is critical. If you want your organization to perform optimally, you should invest in learning the ins and outs of managerial accounting.
Managerial accounting helps organizations run more smoothly by focusing on the problems and identifying potential solutions. Wrapped up in strategic plans and predicted growth, managerial accounting is critical to the success of an organization.
If this is your first brush with managerial accounting, you are probably looking for an introduction to the process. Check out some of these resources and become familiar with the fundamentals of managerial accounting.
Are you ready for a more in-depth understanding of managerial accounting? There’s plenty of information to be found here. in peer networks and organizations specializing in all accounting needs.
1. Managerial Accounting
A website associated with Delft University of Technology, Managerial Accounting will help you understand how managerial accounting works. This site has information available on both traditional and new managerial accounting practices.
It lays out the history of accounting and accounting practices. If you have been wondering how our approach to finance came about, this is a perfect place to start.
While understanding the history of managerial accounting is important, it also helps identify some problems associated with traditional managerial accounting. The Managerial Accounting website takes the time to explore those shortcomings as well as the development of activity-based costing.
If you’re looking for a broad introduction to managerial accounting along with some specific tools, start with this excellent site. You will have a better understanding of what managerial accounting is, how it works, and how you can utilize it.
2. Management Accounting Concepts and Techniques
Available in its entirety online, Management Accounting Concepts and Techniques is a textbook that covers all aspects of management accounting. It is written by Dennis Caplan, a professor at SUNY Albany’s School of Business.
Covering everything from the basic definition of management accounting to sophisticated techniques, this textbook provides a wealth of information.
Whether you are looking for the basics or are ready for advanced instruction, there’s something in this book for you. If you would like to expand your repertoire of planning tools, this textbook has the information you need.
Is this your first time wading into managerial accounting? Or are you well-versed on the subject? Either way, you will find useful tips and tools with this book.
3. Consortium for Advanced Management International (CAM-I)
Created to help managers develop and use management tools that work, CAM-I is a renowned collaborative forum. CAM-I provides everything from online courses to publications geared toward strengthening your managerial accounting skills.
Focused on solving problems universal to the group, CAM-I makes solutions their priority. It fosters a community with a shared goal of best practices, despite the potential for competing organizations within their membership. This is what makes it such a successful resource.
With specialized programs for small, medium, and large organizations, CAM-I can provide insights and solutions for your specific needs. Visit today to begin unpacking how CAM-I can benefit you and your organization.
4. American Accounting Association: Management Accounting Section
The American Accounting Association was founded in 1916. The single largest community of academic accountants, they are reputable and well-known for their research and publications.
A division of the American Accounting Association, the The Management Accounting Section (MAS) looks specifically at the challenges of managerial accounting. The MAS is responsible for the journal of management accounting research (JMAR) which explores managerial accounting theory and research.
Through its publications, MAS works to improve the efficacy of management accounting instruction. With both teaching and research, MAS encourages the growth and development of managerial accounting skills.
Established in 1982, MAS provides supplementary resources, publications, and conferences. Whatever your specific needs, MAS can be an asset for you.
5. The Association for Operations Management
The Association for Operations Management (APICS) has been around for 60 years. With more than 45,000 members in 100 countries, APICS provides educational opportunities for management professionals.
Whether you’re interested in workshops, certificates or training, APICS has solutions that suit your needs. A frontrunner when it comes to research and education for supply chain management, APICS is an exceptional resource.
Are you looking to connect with others in the managerial accounting field? Look no further than APICS. Local chapters and an extensive online community mean a stellar network is within your reach.
6. Society of Cost Management (SCM)
Established in 2010, the Society of Cost Management is an international organization. Seeking to encourage best practices of cost management, SCM works to connect people and create a community while sharing resources.
Discussion boards, consultants and online resources make SCM invaluable when navigating challenges associated with managerial accounting. Membership is free, and provides access to everything SCM has to offer.
Dedicated to maintaining ethical and appropriate practices, SCM strives to draw attention to the professionalism of its members. With education opportunities as well as career insights, SCM is a hub of information.
Whether you’re looking to join as an affiliate, academic, student, or professional, there’s a membership level that’s right for you. Log on today to get started.
7. Accounting Coach
Looking to improve your understanding of accounting concepts? Look no further than Accounting Coach.
Accounting Coach is an online educational tool. It was created to help you learn all about accounting, at no cost to you.
Create an account and start learning; it’s that simple. Accounting Coach has an easy-to-use search function and free tools to help you improve all of your accounting skills. Video tutorials mean learning to use the interface is easy.
For more information and to explore everything Accounting Coach has to offer, drop by this site. Tackling accounting from all angles and presenting difficult concepts in digestible pieces, Accounting Coach is the perfect managerial accounting resource.
8. Institute of Management Accountants (IMA)
The Institute of Management Accountants is well known in the accounting field and home to the CMA certification. If you are looking to progress professionally this is a great place to start.
A membership subscription to the IMA will grant you access to a peer network and valuable tools. You can register as a student, a two-year student, a professional, an educator, or join an employer program.
Once registered, you can find leadership opportunities as well as continuing education experiences. You can even work toward being a Certified Management Accountant (CMA).
With 100 years of experience and over 60,000 members, the IMA knows managerial accountants are critical to organizational success. It has 300 professional and student chapters and is dedicated to building successful careers. The IMA is an important resource for all current and future managerial accountants to be familiar with.
9. The International Federation of Accountants (IFAC)
An international organization headquartered in New York, the International Federation of Accountants represents nearly three million accountants. The IFAC seeks to standardize accounting practices on a global scale.
Founded in 1977, the IFAC has over 40 years of experience and many readily available publications and resources. It is a great source for current information and trends. Multiple membership levels means there will be something in the IFAC that works for you and your organization.
10. National Society of Accountants (NSA)
Focusing on technology in the accounting field, the National Society of Accountants provides access to four exclusive accounting publications.
The NSA offers members access to webinars and scholarships. They also host events and an annual conference geared toward helping members achieve professional success. First established in 1945, the NSA has evolved to accommodate our changing world.
As a member of the NSA, you will enjoy access to a resource library, exclusive discounts and personalized technological solutions.
11. Principles of Accounting
Another textbook available online at no cost, Principles of Accounting allows you to explore what you need at your own pace. Whether it’s your first foray into accounting, or you’re looking to hone existing skills, Principles of Accounting can help you.
The book is authored by Larry Walther, Ph.D., CPA, CMA, who heads the School of Accountancy at Utah State University.
Principles of Accounting promotes a collaborative approach to accounting. An easily accessible online medium, this book seeks to provide everyone with the opportunity to learn about accounting.
Principles of Accounting is a great place to start honing your finance skills. Even if you already have a solid understanding of the basics, this textbook can be beneficial to you.
It offers specific sections that address managerial accounting. With chapters that address other aspects of accounting as well, Principles of Accounting is a complete source of information.
12. Chartered Global Management Accountant (CGMA)
Established in 2012, the Chartered Global Management Accountant status is held by 150,000 people. Identifying competent and capable professionals, the CGMA is a widely recognized designation.
CGMA provides tools to help you evaluate your organization’s strengths and weaknesses. With resources that include blogs, podcasts, and videos, this can be an invaluable tool for furthering your understanding of accounting.
13. Federal Accounting Standards Advisory Board (FASAB)
Are you looking for guidance and information while on your managerial accounting journey? The Federal Accounting Standards Advisory Board may be the source for you. With a mission centered on improving federal financial reporting, the FASAB seeks to create accounting standards and expectations.
FASAB has extensive resources on standards and best practices. FASAB also provides access to managerial accounting forums, with staff available to address concerns or questions.
Managerial Accounting and Your Organization
Incorporating managerial accounting skills into your repertoire will provide you and your organization with the opportunity to grow and thrive. Using collected data to support business decisions will make you a better business person.
Managerial accounting will help you be better equipped to make both long and short term decisions. With the help of managerial accounting processes, you can make realistic projections about future growth and performance.
Expand Your Horizons Today
There’s no doubt about it—managerial accounting can strengthen your organization and make you a better leader. Don’t put off sharpening your skills because you don’t know where to start.
All it takes is a little bit of incentive. Of course, knowing about these helpful resources doesn’t hurt. You, too, can have the managerial accounting skills you need to make the most out of your career and your organization.
If you’ve been looking for the right place to begin, you’ve found it. These resources will get you on your feet and well into the managerial accounting game. Before you know it, you’ll be the one helping others on their managerial accounting journey.