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CMAOr CPA : Which one should you choose?

As an accounting student, have you ever asked yourself whether the CMA or the CPA is the right certification for you? <br>Read some info here

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CMAOr CPA : Which one should you choose?

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  1. CMA OR CPA : WHICH ONE SHOULD YOU CHOOSE?

  2. As an accounting student, have you ever asked yourself whether the CMA or the CPA is the right certification for you? • Students of Accounting and Finance often have a tough time choosing between Certified Public Accountant (CPA) and Certified Management Accountant (CMA) certifications.

  3. What's the difference between the two? Both have their own advantages, and deciding what credential to pursue, it’s not a matter of which one is better. It’s a matter of which is better for you.

  4. Here are the factors you need to consider before choosing to go for CPA or CMA coaching. • Scope • Core Skills • Requirements • Type of Enterprise • Salary • Benefits

  5. Scope • While the CMA is a globally recognised designation CPA designation is exclusive to the US. Students who desire to pursue global financial management positions are good candidates for a CMA and students who wish to pursue an accounting career in the United States may opt for a CPA.

  6. Core Skills • If your core skills are in the areas of reporting, corporate finance, planning and decision making, then you should consider going for a CMA. If your focus is in the areas of compliance and regulation, taxes, audits, attestation and reporting, a CPA might be the qualification you need.

  7. Requirements • CMAs require a bachelor’s degree and two years of management accounting or financial management, and a membership in the Institute of Management Accountants. • According to the American Institute for CPA’s, the representative body for the CPA profession, you’ll need a four years bachelor’s degree or equivalent qualification in accounting and business related courses along with a couple of years under the supervision of a qualified CPA. 

  8. Type of Enterprise • If you wish to join a private or corporate industry, then a CMA credential is ideal. But if you foresee a career in a public enterprise, then the CPA certification is for you.

  9. Salary • CPAs on an average tend to earn 15% more than non CPAs whereas CMAs tend to earn 60% than non-CMA professionals. • Factors like experience, job title, industry and location determine the salary.

  10. Benefits • While CMA and CPA are highly valued certifications, they have different advantages. CMA qualification gives a practical, ground-based approach to accounting and finance and can demonstrate that you have a head for business as well as accounting. • CPA is seen as highly desirable for both public and corporate enterprises in the US and offers more options.

  11. Whichever certification you choose, Choose wisely and work hard. Reference : http://www.logiccpacma.com/blog/cpa/cma-cpa-one-choose/

  12. Thank you

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