Time to certification: Typically one to two years up to three years allowed Prerequisites: A bachelor’s degree and two consecutive years in financial management or management accountingĮxam requirements: Two-part, eight-hour exam Granted by: Institute of Management Accountants (IMA)Įstimated cost: $1,475 to $3,500 for the membership fee, entrance and exam fees, study materials and a review course (optional) Professionals who hold the globally recognized Certified Management Accountant (CMA) credential, established in the 1970s, are often financial decision-makers for their company and demonstrate a mastery of critical accounting, financial planning and analysis skills.
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See this post to learn why maintaining your CPA license is valuable and how to keep it current. If you know you want to make your career in accounting, the CPA is the primary credential to pursue. The CPA is highly valued throughout the accounting industry, and some companies require it for managerial jobs. Who should get it: This designation is a versatile one, as CPAs work in public accounting, management accounting, governmental accounting, taxation, financial advisory, compliance and other areas.
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Ongoing requirements: Requirements for continuing professional education (CPE) courses vary by state. Time to certification: Passing the CPA exam usually takes a year exam and license requirements vary by state but include one to two years of verified work experience for a licensed CPA.
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Prerequisites: Typically five years of higher education (bachelor’s degree in accounting, business or finance plus additional courses necessary to reach 150 credit hours), plus verified work experienceĮxam requirements: Four levels can be taken in any order Granted by: American Institute of Certified Public Accountants (AICPA)Įstimated cost: $3,000 to $4,500, depending on the state and the cost of a CPA Review Course (recommended) This designation validates your expertise in tax, compliance, risk management, forensic accounting and other areas. The CPA license is the most popular accounting certification for accounting and finance roles in the United States. Other finance and accounting certifications.
But the difficulty of the exams and required prep time varies significantly among the credentials. At the most challenging end of the spectrum, only about 50% of applicants eventually earn a CPA or a Chartered Financial Analyst designation. Depending on which one you pursue, it can cost thousands of dollars and require hundreds of hours of preparation.Īnd then there’s this: A certification can be difficult to earn. The investment of time and money to earn a certification is no small matter. Gaining a certification also makes you more likely to earn promotions, raises and bonuses.īut don’t enter into the process lightly. Whether it’s the accounting gold standard, the CPA, or something more specialized in auditing, financial services, information technology, fraud or forensics, a certification in finance and accounting is often essential to reaching greater heights.Īdvanced knowledge in your area of expertise should help you become more productive and demonstrates your motivation, dedication and commitment to your employer and prospective future employers. Maybe you can use that extra time, if you’re not back to commuting to an office, to study for that accreditation. Earning an accounting certification could be your ticket to a more successful, lucrative career. The pandemic has given us plenty of time to re-evaluate our lives and a chance to reimagine our careers or ponder how to elevate them.
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