"Other" accounting certifications

[creamgethamoney]

<p>Hi,</p>

<p>I just wanted to make this thread to try and figure out what all the other accounting certifications are helpful for since there are so many of them.</p>

<p>So if some of the experts here could comment on things like CMA, CIA, CISA allow a person to do, how they can help one's career, how useful they really are, etc.</p>

<p>Also, has anyone else seemed to notice that other certifications like the CMA, CIA are starting to gain prominence? I was looking at monster.com for jobs, and unless you are working exclusively in the public sector, it seems a lot of jobs just want some public experience and SOME form of certification(s). A CPA isn't necessarily required it seems for a lot of jobs anymore.</p>

[tbradford]

<p>Here are some posts that I have put up regarding the CMA that may be helpful:</p>

<p>

If you plan to take both, getting the CPA done first is a good idea because it will eliminate one of the tests you have to take for the CMA, as they waive it for CPAs. By itself, each designation test is a broken into four parts equallying 14 hours of testing for the CPA and 13 hours for the CMA. The CMA is dropped down to 9 or 10 hours if you are a CPA. The CPA requires specific coursework and number of college class hours that vary by state, the CMA only requires a bachelor’s degree. I would judge the overall tests to be similar in difficulty, but that will vary by a person’s background (and which one he or she takes first). </p>

<p>How long all this takes depends on how much time you invest and how familiar you are with the subject matter. For me, it took around a year for my CMA and will be around 10 months for my CPA. This can be done much more quickly; I was testing while working more than full-time and working on an mba/acc the entire time (finishing out 150 credits for the CPA). I also did the CMA first so I had to take all four parts. I think that I spend an average of 80-100 hours of prep per part for both exams, with the exception of part four of the CMA and the FAR section of the CPA. The time invested there (particularly for FAR) was more than the the other sections for me.

</p>

<p>

I took the CMA first and am completing my CPA testing now. I did this because the CMA is far more useful in my line of work (corporate accounting with heavy financial analysis), however the CPA is still more recognized. I personally think that all accounting majors should get their CPA license because it is so universally recognized.

</p>

<p>The CMA is most useful for corporate accountants/financial analysts, particularly those working in a manufacturing environment or as a cost accountant. It can be very useful for other positions but in these types of positions it is exceptionally useful, even moreso than a CPA.</p>

[taxguy]

<p>The CPA is still considered the top designation for accountants. However, there are other designations that many folks are getting in addition to the CPA such as CFA ( Certified Fraud Auditor), CMA, PFS ( Personal Financial Specialist) etc.</p>

<p>I found that my favorite designation was mentioned to me recently. Some guy had a card that noted his designation as, “C. B.S.” When I asked what this meant, his answer was ( and I am not kidding): “Certified Bull ****er.”</p>

[a_mom]

<p>This is the first time something bring me laugh in THIS forum. :)</p>

[Oliver_Twist]

<p>taxguy, instead of CFA do you mean CFE? I thought CFA stands for Chartered Financial Analyst.</p>

[arajput23]

<p>There is also a CIA, which is a “Certified Internal Auditor.”</p>