CMA vs CPA Which Qualification is Better

Hello, this is Stephanie from IPasstheCMAexam.Com.
Today I'll share my thoughts on the benefits of getting the CMA vs CPA qualification. Before we start, let's be clear on what these
qualifications represent. CPA, which stands for Certified Public Accountant
in the US, is a license granted by state boards of accountancy in the United States. The license
is used for accountants to perform certain tasks, such as signing the audit reports.

CMA stands for Certified Management Accountant.
It is not a license, so it does not give holders privilege as in the case of the CPA. It is
instead a certification granted by the Institute of Management Accountant, to demonstrate a
level of expertise in areas relevant to management accounting. The certification is meant for accountants
working in corporate, businesses and non-profit organizations. What's Great about CPA.

Here are some of the reasons why you may want
to go for the CPA designation. 1. Recognition and Prestige The US CPA designation is one of the most,
if not the most recognized accounting qualifications in the world. The AICPA has the longest history
and the largest number of members among all accounting professional associations.

Having
the CPA title after your name means prestige and recognition among your peers and business
partners in the accounting industry and the corporate world. 2. High Standard in Exam and Licensing Requirements The CPA designation is also respected because
of its strict rules on eligibility. With the 150 credit hour requirement, all candidates
are required to have a level of education equivalent to a master's degree.

Most states
ask for accounting and business courses similar to what is needed for an accounting major.
Also, most states require candidates to complete 1-2 years of experience supervised by another
CPA. The standard is high relative to other qualifications and this makes the CPA name
stand out from the crowd. 3. The Most Versatile among Accounting Qualifications The CPA exam covers a wide variety of topics,
including financial accounting, auditing, corporate governance, US taxation, business
laws and ethics, management accounting, strategic planning, corporate finance, financial management,
and economics.

Because of this, a CPA is seen to have a broad
set of skills and this opens a lot of doors for them. This is particularly the case for
new niches within accounting and finance where there is not yet a niche-specific qualification.
CPAs often have the first-mover advantage in these areas. What's Great about CMA. 1.

CMA is Relevant to 3/4 of Accounting Jobs It is not surprising that most accountants
work in corporate vs CPA firms. 70-80% Of accountants in the US work in the industry.
The accounting jobs with highest demands, among them financial analysts, business analysts
and cost accountants, are highly relevant to the CMA certification. 2. It's Cheaper and Faster On the practical side, it's cheaper and faster
to become a CMA vs a CPA.

The exam requirement is a lot simpler. The IMA takes care of the
application and certification process, versus in the CPA, you have to select a state board
of accountancy and deal with various bodies such as NASBA and the AICPA. On the exam itself, there are only 2 parts
vs 4 parts in the CPA exam. The scope is also limited to management accounting and financial
management.

In a way, you can see CMA with higher return
on your time and effort. 3. Too Tough to Get Qualified for the CPA
exam I understand that some of you may have gone
through education many years ago or outside of the US, so the latest CPA requirements
makes it very hard for you to get qualified. CMA presents the next best alternative of
a sound accounting qualification in the US.

If you are interested in pursuing career in
cost accounting and strategic management in big companies, CMA qualification has the most
value in this area. 4. CMA is Globally Recognized There are a number of CMA qualifications around
the world, such a the CIMA from the UK, CMA. In Canada and in Australia.

But the CMA from
the IMA is arguably the most global, with its footprint getting very strong in China
and the Middle East. If you foresee career opportunities in these important regions in
the world, getting the CMA certification is worth your investment. I hope this video helps you decide whether
to pursue the CPA or the CMA. If you have any thoughts, comments or stories to tell,
please drop me a note in the comment section.

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