Being a cost accountant means a lot of responsibility. After all, you will be in charge of maintaining all financial records of an organization, analyze it, and share recommendations with the top management. At the same time, cost accountants, also known as management accountants, have to ensure that accounting standards and regulations are being met as far as accounting records and the company’s services and processes go.

1. Why Cost Accountants Should Move To
California!
Being a cost accountant means a lot of responsibility.
After all, you will be in charge of maintaining all financial
records of an organization, analyze it, and share
recommendations with the top management. At the
same time, cost accountants, also known as
management accountants, have to ensure that
accounting standards and regulations are being met as
far as accounting records and the company’s services
and processes go.
www.accountingdegreetalk.org

2. California – Best In Pay, And Best In
Employment Level!
The tasks of cost accountants, though detail-oriented and
rigorous, is also very challenging and well-paying. Yet, while you
may become a cost accountant in any state of the US depending
on your preferences, California appears by far to be the best
choice. Why, you ask? Well, according to Payscale.com’s salary
surveys, of all the featured states, the average annual pay of cost
accountants in California is the highest at $43,122 – $83,023.
And if you are still not convinced, the US Bureau of Labor
Statistics places California as the top state in terms of
employment level for accountants and auditors in general. In
May 2011, the BLS estimated a total of 121,590 jobs for cost
accountants in California.

3. Which Metropolis? Which Other US States?
In California, Los Angeles is the metropolitan area to go to for cost
accountants as it has the highest number of jobs for accountants
in the state. Meanwhile, the highest concentration of jobs for
accountants is in San Francisco, which is also a very well-paying
state for accountants in California, with an annual mean wage of
$86,230 in May 2011. This is higher than the national mean salary
of $70,130 for accountants and auditors in general. Besides
this, some other states and cities to consider include:
 New York – New York City
 Texas – Houston, Dallas
 Pennsylvania – Philadelphia
 Illinois – Chicago
 Massachusetts – Boston

4. So What Do You Need To Become A Cost
Accountant?
In order to get into the field, one ought to have a
Bachelor’s Degree in Accounting or a related field. This is
the most basic entry-level requirement. For some
higher-level positions, a Master’s in Cost Accounting
may also be required. Internships and prior work
experience are a plus when applying for a job as a cost
accountant.

5. What Is The CMA?
The Certified Management Accountant (CMA) certificate is
offered by the Institute of Management Accountants (IMA). It
demonstrates that a person has excellent command over cost
accounting principles and practices, and is a certification of
his/her credentials. In order to sit for the CMA exam, one must
have completed their bachelor’s degree and must have at least 2
years of work experience in management accounting. Though not
necessary, the CMA certification can add much value to one’s
career. The IMA’s website states, “Holders of a CMA can earn over
$22,000 higher total compensation than their noncertified peers.”
All in all, becoming a cost accountant can be both challenging and
financially-rewarding. Plus, now you also know the areas where
great prospects for cost accounts lie. So, will you like to become a
cost accountant?