Management accounting involves providing financial information to internal stakeholders to aid in decision-making. The ability to effectively analyze and interpret large datasets is increasingly important for management accountants. Lamar University’s online Bachelor of Science (B.S.) in Management Accounting and Analytics program prepares graduates to succeed in this field.
The intersection of management accounting and big data is a natural one. Characterized by its volume, velocity and variety, big data offers a wealth of information that professionals can use to enhance decision-making. By using the power of big data, management accountants can:
- Improve decision-making. Big data provides insights into market trends, customer behavior and operational efficiencies, enabling more informed and strategic decisions.
- Enhance risk management. By analyzing large datasets, management accountants can identify potential risks and develop mitigation strategies.
- Optimize resource allocation. Big data can help businesses allocate resources more effectively by identifying areas of inefficiency and opportunities for improvement.
- Improve financial forecasting. By analyzing historical data and incorporating external factors, management accountants can develop more accurate financial forecasts.
How an Online Undergraduate Degree in Management Accounting Can Help
Lamar University’s online B.S. in Management Accounting and Analytics program prepares students with the skills and knowledge to succeed in the field of management accounting in the era of big data. The program offers a comprehensive curriculum that includes traditional accounting courses and specialized courses focused on data analytics. Some coursework highlights include the following:
- Data Analytics in Accounting. This course teaches students how to use data analysis to help businesses make better decisions. Data analysis is becoming more important as companies need to rely on more data to understand their customers and improve their operations. Students also learn how to work with different kinds of data and use tools to analyze it.
- Data Mining. This course teaches students how to use data mining and predictive analytics to find useful information from large datasets. Students learn about different data mining techniques and how to use software to create predictive models that can help businesses.
- Cost Accounting. This course focuses on applying cost accounting principles to managerial decision-making — including job order and process costing, standard costing and variance analysis, budgetary control, relevant costing for decision-making, and capital budgeting.
This program offers more than a well-rounded curriculum with essential focuses in big data and accounting. Some other benefits of this online program include:
- Lamar University’s online program offers students the flexibility to learn on their own schedule.
- The program is competitively priced, making it accessible to a wide range of students.
- Quality education. Lamar University is a reputable institution with a strong commitment to academic excellence. Graduates are prepared to sit for the Certified Management Accountant (CMA) examination.
Big Data and Accounting: Career Opportunities
Graduates of Lamar University’s online B.S. in Management Accounting and Analytics program are well prepared for several career opportunities in management accounting, including roles in finance and consulting. The following are a few examples of roles graduates can pursue:
- Management accountant: provides financial information to managers and executives to aid in decision-making and offers insights into profitability, costs and performance
- Financial analyst: analyzes financial data to find trends and opportunities
- Data analyst: uses data analysis techniques to gather information from large datasets
- Strategic planning consultant: provides expert advice to businesses on various issues, including finance and operations
By combining a strong foundation in accounting principles with specialized training in data analytics, program graduates have the tools to use the power of big data to help businesses succeed.
Learn more about Lamar University’s online B.S. in Management Accounting and Analytics program.
