CMA vs CPA & Other Certifications. Which Is Better?
There have been recent discussions about the CPA certification and its relevance to the hiring process. Many of the discussions involved the debate on whether a CMA vs Certified Public Accountant and not having a CPA should be a must have for finance professionals such as CFO's or Controllers.
I would like to hear thoughts about senior financial professionals who hold other relevant professional certifications other than the M.B.A. or CPA, such as the CMA or CFM to name a couple. Both the CMA and CFM are sponsored by the IMA and stand for a standard of technical excellence in the accounting profession. The issue out there is that they are not as well known as the CPA credential. So one question would be if one of the must haves in a job description is a C.P.A. or C.M.A. or CFM be a reasonable substiitute? These credentuials may be more relevant to private industry than the CPA which focuses on public accounting. They deal with real issues faced by a CFO/Controller such as managing the treasury functions, cost accounting variance analysis (for manufacturers), mergers and acquisitions, financial statement analysis, working capital management in addition to financial accounting and corporate taxation topics.
Your thoughts on this would be appreciated.