Most businesses use some or all forms of management accounting, such as budgeting, cost allocation, break-even analysis. But strategic decision making goes beyond these functions and focuses on how external factors (competition, political environment and monetary policy can affect a company's operations.
As strategic management accounting is an extremely important function, there is a huge demand for professionals who can help companies plan, craft, implement and execute strategies to take their businesses to the next level. If you're an accounting graduate or professional, considering such opportunities can really boost your career. However, with a post-secondary diploma, it is really difficult to get into such an important position.
How to Get into This Field?
Typically, professionals with prior experience in accounting, finance and other related fields along with higher education are preferred for such positions. Excellent leadership skills further strengthen their case. If you have reached the dead end in your accounting career or are looking to avail more advanced career opportunities, enrolling in a postgraduate strategic management certificate program is a great idea.
It will provide you with a systematic and rigorous specialization in management accounting in context of strategic management along with leadership skills. And as a graduate of this program, you will also be eligible to CPA Ontario.
What Will You Learn?
As I said earlier, this is a rigorous program that includes a comprehensive coverage of all key areas of management, and cutting-edge managerial and leadership practices of the best companies in the world. You will gain advanced knowledge in taxation, information systems for business management, operations management for products and services, advanced auditing, advanced financial management, ethics and stakeholder management, and contemporary organizational behaviour. As a graduate of this program, you'll be able to:
- Critically analyze a management accounting and control system
- Define and implement accounting systems in tandem with strategic needs of the organization
- Demonstrate expertise in most advanced tools and techniques of management information systems such as ERP systems (Enterprise Resource Planning systems)
- Engage in effective communication with stakeholders
- Design and execute strategy to attain business objectives
What Can You Do Upon Graduation?
Typically strategic management in accounting is a one-year diploma program. You can pursue your career as an accounting manager, controller or business analyst upon graduation with financial institutions, manufacturing concerns, government offices, public accounting firms or service industry.
If you want to avail more advanced job opportunities than those mentioned above, you may apply your academic credits towards a degree program with partnering universities.
Do All Colleges Have Articulate Agreements?
Not necessarily. If you may consider higher education once you graduate from this certificate program, it's ideal to join a college that allows you to start with a post-graduate diploma program and end with a degree (if you wish to). Centennial College has partnered with universities and allows you to apply your diploma credits towards a degree program in strategic management in accounting. But you'll have to meet minimum grade requirement in order to qualify for further studies.
So, continuing education can help you boost your career and can place you in the front league. You must upgrade your skills and knowledge and explore new opportunities, if this is possible for you.
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