When looking at which certification to pursue, it can be tough to know the direction to go. Both a CMA and CPA certification will advance your accounting career, and increase that salary figure. But which is the most suitable choice for you and your career path?
Well firstly, what is a CPA?
A Certified Public Accountant (CPA) is a license with experience requirements. They come in the form of 150 credit hours of education, and a four-part exam administered by the AICPA. It can most simply be described as a license for public accounting. Plus, Certified Public Accountants then have the added annual requirement of continued professional education (CPE) to stay actively licensed.
And what is a CMA?
A Certified Management Accountant (CMA) is a professional certification in the management accounting and financial management fields. A CMA certification is a surefire way of demonstrating you possess knowledge in financial planning, analysis, control, decision support, and professional ethics. To become certified, you’re required to have at least two years of work experience, a bachelor’s degree and to pass the CMA exam.
Have you been trying to decide whether the CMA credential is the right fit for you and your career goals? This is a choice all accounting professionals must face in their career. But, never fear, we interviewed Linda Devonish-Mills, the Director of Diversity and Inclusion at the Institute of Management Accountants (IMA), about her thoughts on the CMA vs CPA. Is it better? Which should you get? Well, Linda Devonish-Mills says they might be able to live in harmony. Find out more about what she had to say when looking at the two.
