| The first certification we are going to look at is | | | | |
| the Certified public accountant, also known as the | | | | The second certification we are going to look at |
| CPA. To earn a CPA certification in most states | | | | is the Certified Management Accountant also |
| you must first earn a bachelor’s or | | | | known as the CMA. There are several |
| master’s degree from an accredited college | | | | requirements for the CMA certification. To qualify |
| or university with a concentration in accounting. | | | | for the CMA you must first you must have a |
| The next step is the dreaded CPA exam. Many | | | | bachelor’s degree from an accredited |
| people say that this is the hardest part of the | | | | university with a major in any area of curriculum |
| whole CPA process. Lots of accountants have | | | | or score in the 50th percentile the GMAT |
| many sleepless nights preparing to take the CPA | | | | (Graduation Management Admission Test) or the |
| exam. The CPA exam has four parts to it. The | | | | GRE (Graduation Record Examination). You must |
| first part is on financial accounting and reporting. | | | | also have 2 years of continuous of professional |
| Section is 4 hours with 3 multiple choice testlets | | | | experience in management accountant or financial |
| and 2 simulation testlets. This section covers skills | | | | management. The last requirement you have to |
| and knowledge of generally accepted accounting | | | | fulfill is passing the CMA exam. The CMA EXAM is |
| principals for business enterprises, not for profit | | | | known to be just as strenuous as the CPA exam. |
| organizations and governmental entities. The | | | | The CMA exam has four parts the first part is on |
| second part of the CPA exam is on Auditing and | | | | Business Analysis, it is 3 hours with a 110 multiple |
| Attestation, and this section is 4.5 hours with 3 | | | | choice questions. The second part is on |
| multiple choice testlets and 2 simulation testlets. | | | | Management Accounting and reporting this part is |
| This section covers knowledge of auditing | | | | 4 hours with 140 multiple choice questions. The |
| procedures, generally accepted auditing standards | | | | third part is on Strategic Management and is 3 |
| and other standards related to attest | | | | with 110 multiple choice questions. The last part is |
| engagements and the skills needed to apply that | | | | on Business applications it 3 hours and has 3-7 |
| knowledge. The third part of the CPA exam is on | | | | written response essay problems. The first 3 |
| Regulation, this section is 3 hours with 3 multiple | | | | parts of the test is all computerized and can be |
| choice testlets and 2 simulation testlets. This | | | | taken all year round and you will get your results |
| section focuses on skills and knowledge of federal | | | | immediately at the testing site. But the final part |
| taxation, ethics, professional and legal | | | | of the test can only be taken during the months |
| responsibilities and business law. The forth and final | | | | of February, may, august and only after you |
| part of the CPA exam is on Business | | | | have taken and passed the first 3 parts of the |
| environment and concepts. This section of the | | | | exam, And it takes 4-7 weeks to receive your |
| test is 2.5 hours long with 3 multiple choice | | | | results for the final part of the exam. After you |
| testlets. This section encompasses knowledge of | | | | pass your CMA exam and become A Certified |
| the general business environment and business | | | | Management accountant your job description will |
| concepts that candidates needs to know for | | | | be supporting decision making, planning and control. |
| accounting. When you finally pass the CPA exam | | | | As a management accountant you will be a |
| and start work as a CPA majority of your work | | | | valued business partner, directly supporting your |
| will deal with financial accounting and auditing. So | | | | organization goals. Becoming A CMA can be very |
| for the most part you will be preparing financial | | | | hard but once accomplished you will have a |
| reports for firm for external parties such as | | | | plethora of different career opportunities to chose |
| investors, creditors, and tax authorities. The final | | | | from. |
| requirement is you must have work experience in | | | | As you can see both Certifications will take a lot |
| public accounting and supervised by an individual | | | | of hard work to acquire. Both certifications are |
| who is currently licensed to practice public | | | | essentials tools for success in the accounting |
| accounting as a CPA. Getting your CPA can be | | | | career field. If you receive either of these |
| very challenging but after receiving it can help you | | | | certifications you will be on the path of a great |
| lead a very satisfying career in public accounting. | | | | career in accounting. |