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Managerial Accounting

  • Credits:

Program Description

Prepare for high-demand careers in managerial accounting, and to sit for the Institute of Managerial Accountants’ (IMA) Certified Managerial Accountant (CMA) examination. The Bachelor of Science in Managerial Accounting focuses on the practical skills and knowledge which the IMA has identified as the essential to the field. Learning outcomes and coursework are directly aligned with the practical experience and academic requirements of the CMA certification examination. Graduates will be well prepared to work in this exciting and growing field, with both the knowledge and application-based training to make important institutional decisions based on sound financial principles.

What Is Managerial Accounting?

Managerial accounting is a branch of accounting that focuses on helping internal managers to make decisions and set goals. Managerial accountants are experts at analyzing an organization’s operational metrics, and then turning this data into useful information that management can use to make informed decisions. Sometimes managerial accounting is also referred to as cost accounting or management accounting.

Managerial Accounting vs. Financial Accounting

Managerial accounting is different than financial accounting in that it is more concerned with providing operational reports that are useful for internal management. Financial accounting focuses more on the reporting of a company’s financial transactions to investors, lenders, and other external audiences. Financial accounting must also comply with a variety of accounting standards that do not apply to internal (managerial) accounting practices.

IMA Certification

Full IMA certification requires that you earn a bachelor’s degree in finance, accounting, or economics; pass the CMA exam; and complete two years of work experience in one of the following areas:

  • Financial statement preparation
  • Financial planning and analysis
  • Auditing (external or internal)
  • Budget preparation and reporting
  • Corporate investment decision making
  • Costing analysis

This experience requirement can be earned prior to, or within seven years of passing the CMA examination.

Cambridge College Managerial Accounting Highlights

Combining value and convenience, our programs are tailored to the needs of adult learners. These are a few of the benefits of choosing Cambridge College for your managerial accounting degree.

  • IMA certification training. The managerial accounting curriculum is designed to prepare you for the Institute of Managerial Accountants’ (IMA) Certified Managerial Accountant (CMA) examination.
  • Career-focused learning. The Cambridge College teaching model gives you the opportunity to learn managerial accounting principles in addition to effective, practical techniques. The program also includes a research intensive final capstone project.
  • Flexible class schedules. Cambridge College offers day, evening, weekend, and online course options to meet the needs of working professionals. Talk to a Cambridge College academic advisor to start planning a course of study that works for you.
  • Affordable tuition. Rated one of the most affordable four-year private nonprofit colleges in the United States, Cambridge College offers a world-class education at an exceptional value.
  • Experienced faculty. Cambridge College faculty are experienced accounting professionals and accessible teachers who are here to help you succeed.
  • No SAT or ACT tests required. Get started on your management degree quickly and efficiently. We offer an easy online application and do not require SAT or ACT tests for admission to our undergraduate programs.

The Institute of Management Accountants reports that professionals who have earned the CMA certification make nearly $28,000 more in total compensation each year than their non-certified peers. CMAs earned an average annual salary of $108,455 according to the most recent survey conducted in 2013. The total average compensation for CMAs that year was $125,734 including bonuses.

As of 2013, those just beginning their careers reported an average annual salary of $70,276 in the first few years after earning their CMA designation. The survey data revealed that those working in public accounting earned the highest average salary at $141,685.

(Source: https://www.accountingedu.org/management.html


Managerial Accounting Concentrations

A concentration can be a key element in your bachelor's degree, providing unique perspectives and skills that can enrich your career.

  • Addiction Studies Concentration: Learn more.
  • Education Concentration: Learn more.
  • Expressive Therapies Concentration: Learn more.
  • Family Studies Concentration: Learn more.
  • Holistic Studies Concentration: Learn more.
  • Juvenile Justice Studies Concentration: In addition to providing a background in youth services and current theories of adolescent development, this concentration explores the impact of community disadvantage, child abuse, and neglect on behavior. Learn more.
  • Legal Studies Concentration: Designed for students who are interested in pursuing a law career, this concentration provides foundational knowledge of various aspects of law school and the legal profession. Learn more.
  • Organizational Psychology Concentration: Learn more.
  • Peace and Justice Studies Concentration: This concentration focuses on ways to promote the fair and equitable provision of justice as the path to a more just and humane world. Learn more.

Managerial Accounting Program Learning Outcomes

Successful graduates will have a demonstrated understanding of:

  • Planning, budgeting, and forecasting
  • Performance management
  • Cost management
  • Internal controls
  • Professional ethics for management accounting professionals
  • Financial statement analysis
  • Corporate finance
  • Decision analysis and risk management
  • Investment decision

Jobs in Managerial Accounting

Graduates of the managerial accounting degree are well equipped to work in finance, bookkeeping, and accounting positions within private, public, profit, and nonprofit organizations. Examples of managerial accounting positions include:

  • Corporate controller
  • Accounting manager
  • Financial analyst
  • Budget analyst
  • Auditor

With a bachelor’s degree in managerial accounting from Cambridge College, you’ll also be prepared for graduate studies in accounting, finance, and economics.

Example Managerial Accounting Courses

  • Financial Statement Analysis
  • Internal and External Auditing
  • Corporate Finance and Investments
  • Management Studies Capstone Project

Download the Managerial Accounting program sheet.

Managerial Accounting Scholarships and Financial Aid

Get financial assistance to help pay for your degree. In addition to scholarship opportunities, you might also be eligible for federal and state grants, loans, and other types of financial aid.

The first step is completing the Free Application for Federal Student Aid (FAFSA). Learn more about applying for financial aid.

Related Programs at Cambridge College

If you’re still exploring undergraduate degree options, you might be interested in learning more about these programs at Cambridge College:


General Education

WRT101-102 and MAT101-102 may by waived if equivalent courses have been accepted in transfer. Credits will be replaced with open electives. WRT201 required if both WRT101-102 are waived; not required for students completing WRT101-102 at Cambridge. WRT090 and MAT100 required if assessment indicates need.

Principles and Processes of Adult Learning
LRN 175 3 credit(s)
Students explore theories of adult learning. They clarify the fit between their academic program and their learning and career needs, and see how their prior learning fits in. They assess their academic skills of critical thinking, mathematics, writing, and computer literacy. Students become independent learners who can effectively manage the structures, processes and expectations of undergraduate education.
College Writing I
WRT 101 3 credit(s)
Through challenging readings, class discussion, small group col­laboration, and different forms of writing, students learn the skills and process of “thinking on paper.” They learn to construct an argument or discussion that supports a clear thesis and present it effectively in a well-organized essay that observes the conventions of written English. They write academic papers that analyze and synthesize the issues suggested in two or more readings. Critical reading, critical thinking, research skills, and forms of documentation are also introduced.
Foundations of Critical Thinking
CTH 225 3 credit(s)
We learn to engage in reasoned thinking. We learn to formulate hypotheses; conceive and state definitions, and understand logical consistency and inconsistency. We explore the differences between claims of fact, value, and policy; what constitutes credible evidence; the nature of assumptions. We learn what constitutes a persuasive argument as opposed to an emotive and propagandistic one, and critically examine them. Students learn to present clear, well thought out critical arguments in writing and oral presentations. We look at the relationships among thinking, writing, speaking and listening, laying a strong foundation for improving our capacity to write, speak, and listen well.
College Mathematics I
MAT 101 3 credit(s)
Prerequisite: MAT100 If assessment indicates need. This course introduces students to the value of mathematics for students’ career and educational goals. Students will acquire mathematical study skills, gain strategies for problem solving, and develop a sound foundation for future mathematics coursework. The course is structured towards engaging students in active, applied, and real-life learning in order to facilitate mathematical problem solving and conceptual understanding.
Introduction to Computer Applications
CMP 130 3 credit(s)
Assessment available. This course provides a hands-on introduction to the personal computer, Windows, word processing, spreadsheet, presentation software, the Internet, and an overview of Word, Excel and Power-Point uses. Students begin with the basics of each application and progress through intermediate level.
College Writing II
WRT 102 3 credit(s)
WRT102 acquaints students with the academic research paper as both process and product. The course begins with an intensive review of the strategies and techniques for writing an academic essay that are covered in WRT101 and then moves to selecting and narrowing a topic, preliminary research, and establishing a focus for a 12-15 page argument research paper. The final paper includes an abstract, an introduction, discussion, conclusion, and references. Students learn how to write an annotated bibliography and use APA documentation for in-text citations and references.
College Mathematics II
MAT 102 3 credit(s)
Prerequisite: MAT101 If assessment indicates need. Challenge exam available. This course develops students’ mathematical thinking and problem solving around issues of both mathematical content and process. Students will acquire a conceptual and practical understanding of and familiarity with numbers and operations, algebra, geometry, measurement, and basic data analysis and probability. The course focuses on supporting students’ understanding of problem solving, reasoning and proof, communication, connections, and representations. A key feature of the course is active student involvement to support communicating mathematics in everyday and academic contexts.
Digital Literacy
CMP 230 3 credit(s)
Prerequisite: CMP 130 (course or portfolio) and familiarity with Windows and/or Mac operating system, or permission of instructor. Digital literacy is the ability to find, use, and share information using technology in order to excel in a digital world. Students will practice using a range of digital tools, including tools for searching and evaluating information and for creating and communicating digitally. Students will learn to select and use appropriate digital tools for a variety of settings including the classroom and workplace. Ethical and effective use of information will contribute to students’ identities as effective digital citizens.
Distribution Requirements

Arts & Humanities - 6 credits

Natural & Physical Sciences - 6 credits

Social Sciences - 6 credits

Open Electives

Choose electives and/or concentrations to support your academic interests and professional goals. Any undergraduate concentrations are acceptable. (Course prerequisites must also be met.)

Managerial Accounting Major
Diversity in the Workplace
BSM 315 3 credit(s)
This course looks at the significance of diversity in management and the implications of diversity for how organizations are organized and how they function. The changing demographics of the workplace are examined and the significance of diversity for domestic and international business are discussed. Organizational approaches to diversity are examined and analyzed. The course attempts to engage differences within the class and help students develop leadership skills for managing diversity, including consensus building, conflict resolution and talking through differences.
Financial Accounting
BSM 204 3 credit(s)
This course introduces the principles that govern financial accounting systems and the income statement and balance sheet that are the principal end products. Students learn how accounting information is used to evaluate the performance and financial status of private, non-profit and public organizations. The course emphasizes the use of accounting information by managers within the organization and by shareholders, lenders, and other outside parties. Basic accounting terms and concepts, and the language of financial management are presented as well as the essentials of the accounting process. The course also builds an awareness of the ethical, information and regulatory environment of accounting.
Financial Management
BSM 442 3 credit(s)
This course provides tools for managing business funds and making decisions that will affect the financial position of an organization. Students gain an understanding of financial analysis and its use in planning and control functions. Capital budgeting, discounted cash flow, and present/future value techniques are presented as well as the capital formation process, the advantages and disadvantages of various capital structures, and the long and short term uses of capital. Students gain an understanding of the workings of financial markets and institutions, financial instruments, and the domestic and international financial environment.
Introduction to Statistics
MAT 201 3 credit(s)
Statistics is the branch of mathematics that focuses on the collection of data, data analysis, probability, and statistical inference. In this course students will learn the principles of using data to identify patterns, ascertain distributions, conduct accurate group comparisons, and make data-based inferences and predictions. Concepts of spread, normal distribution, multi-modal distribution, standard deviation, statistical skewing, graphing, statistical significance, variance, validity, and probability will be covered.
Business Ethics
BSM 441 3 credit(s)
Business Ethics provides an in-depth understanding of the ethical, social and political context of organizations today. It approaches social problems with an ethical framework for choosing among alternative courses of action. The course emphasizes the application of ethical reasoning to real business and management situations, problems and decision-making.
Performance Management
BSM 355 3 credit(s)

Performance Management investigates control and performance evaluation, including revenues, costs, profits, and investment in assets. We emphasize the importance of understanding variance analysis based on flexible budgets and standard costs of operations in small, medium and large institutions. Additionally, this course reviews responsibility-accounting for revenue, operational costs, contribution and profit centers, and developing a balanced score card.

Corporate Finance and Investments
BSM 405 3 credit(s)
This advanced finance course serves as a detailed exploration of corporate finance and investments, and covers contemporary theories and practices of financial decision-making within corporations. Topics include types and measure of financial risk, portfolio management, options and futures, capital instruments for long-term financing, dividend policy, cost of capital, raising capital, managing and financing working capital, mergers and acquisitions, and international finance. We also review cash flow estimates, discounted cash flow concepts, net present value, internal rate of return, non-discounting analysis techniques, income tax implications for investment decisions, ranking investment projects, real options, and valuation models.
Planning, Budgeting and Forecasting
BSM 411 3 credit(s)
This course examines the financial planning process within private, public and non-profit institutions, and includes a review of standard budgeting concepts, annual profit plans and supporting schedules. Students will analyze different types of budgets, including activity-based budgeting, project budgeting, and flexible budgeting. This course will also investigate top-level planning and analysis within organizations, and strategies for forecasting; including quantitative methods such as regression analysis and learning curves. Prerequisite: BSM333 Business Statistics.
Intermediate Financial Accounting
BSM 456 3 credit(s)
Considerable attention will be given to examples from current accounting practice and the reporting requirements promulgated by the Financial Accounting Standards Board. The focus is on an external user perspective and financial accounting standards promulgated in the U.S.; however, international contrasts and/or constituencies are brought into the discussion of many of our topics. Ethical considerations and impact on various stakeholders are also an important component of our study of financial reporting practices. The course is for students preparing to become practicing accountants in either the public or private sector. In addition to prospective practicing accountants, the course provides valuable background for those looking forward to various managerial or financial careers.
Cost Management and Internal Controls
BSM 481 3 credit(s)
This course explores cost concepts, flows and terminology. Students investigate alternative cost objectives; cost measurement concepts, and cost accumulation systems including job order costing, process costing, and activity-based costing. Additionally we discuss overhead cost allocation; operational efficiency and business process performance topics such as JIT, MRP, theory of constraints, value chain analysis, benchmarking, ABM, and continuous improvement. Students will review risk assessment; internal control environment, responsibility and authority for internal auditing; types of audits; and assessing the adequacy of the accounting information system controls.
Internal and External Auditing
BSM 482 3 credit(s)
This auditing course will teach students the proper role of an internal and external auditor. Students will learn the value of an internal auditor in various business operations including purchasing, personnel, production and internal operations. Also the course will teach students the role of the external auditor in conducting an audit using sampling and statistical tools to evaluate the financial statements of an organization. Topics will include but are not limited to the purpose of internal/external auditing, audit pre-planning, collection of evidence and auditing industry software.
Decision Analysis and Risk Management
BSM 493 3 credit(s)
In this course, students learn to identify and analyze types of risk in corporations, assess measures of risk, and understand concepts of management-relevant data. We evaluate cost-volume-profit analysis, marginal analysis, and make vs. buy decisions. We will also investigate concepts of pricing, and will consider income tax implications for operational decision analysis, operational risk, hazard risk, financial risk, and strategic risk.
Financial Statement Analysis
BSM 494 3 credit(s)
Financial Statement Analysis will teach students the tools and methods to evaluate a company's current financial positioning and to predict potential earnings and/or losses. Students will use the skills learned to determine how an organization's financial statements are impacted by the organization's operations and strategies. These skills will allow the student to critically think about an organization's performance by analyzing the financial statements. Topics will include but are not limited to cash flow statement analysis, earnings quality analysis and ration and profitability analysis.
Strategic Management
BSM 414 3 credit(s)

Prerequisite: WRT 101 and WRT 102, or WRT 201. The principles and tools of the strategic management process are the focus of this integrative course. Students will apply the knowledge and skills developed in the functional areas of management to formulate competitive, sustainable organizational strategies. Extensive use of case studies and simulations will require the ability to think critically and communicate clearly. The ethics of strategy implementation will also be emphasized.

Program Chair

Core Faculty

Senior Instructor



  • Admission Test:

    No SAT or ACT tests required.

  • Admissions Office:
  • Application Form:
  • Application Fee:
    $50 ($100 for international students)

Health Requirements for Massachusetts Students 

The Massachusetts Health Department and Cambridge College require the following of students in Massachusetts:

Immunizations – All students in Massachusetts are required to get certain immunizations before you can register for your first term. See form

Health Insurance – In Massachusetts, undergraduate students taking nine or more credits/term and graduate students taking six or more credits/term must enroll in the College’s health insurance plan. Students who have insurance with comparable coverage may request a waiver. See information and enroll or waive.

School Requirements

See Admissions Requirements for Undergraduate Programs


International Students 

International students need to provide supplemental documentation:

  • Official demonstration of English language proficiency
  • Supplemental documentation for issuance of I-20
  • International transcripts, evaluated by an accepted evaluation service

Transfer Credit

Undergraduate program applicants, once you are accepted, your official transcripts are evaluated for transfer credit.


  • Credits:
  • Cost per credit hour:
  • Application Fee:
    $50 ($100 for international students)
  • Health Insurance Fee:
    $2,290 (Required for Massachusetts students only. See waiver details on Tuition & Fees page.)

Note: Rates are as of June 2023, and are subject to change without notice. Rates apply to all students unless otherwise noted.

Financial Aid

Cambridge College offers financial aid to students in our degree programs who are enrolled at least half-time. Undergraduate students must be enrolled in at least 6 credits each term. Graduate and doctoral students must be enrolled in at least 4 credits each term. Learn more

Grants, Scholarships, and Loans

Cambridge College welcomes the opportunity to support your efforts to pay for college.  Federal, state, and local resources in the form of grants, scholarships, loans, and work-study, including Cambridge College Scholarships, are available to help defray the cost of tuition. Learn more

Getting Your Company to Help

Many companies have tuition assistance programs, designed to help their employees with their professional development. Learn more

Take the Next Step Toward Your Degree in Managerial Accounting