more-arw search

Q&A Forum

CPA, CMA or Other

I have a bachelors degree in Accounting and currently employed. My future plan is to be mainly an investor and a business owner. I would like to utilize my time and study for a certificate. Which one do you think is better for me, one that's going to add to my knowledge and person as I might not end up working in accounting. Thanks

Answers

EMERSON GALFO
Title: CFO
Company: C-Suite Services
LinkedIn Profile
(CFO, C-Suite Services) |

An MBA is a much better "fit" for an Investor or Business owner.

Kundan Lal
Title: Accounting & Finance Consultant
Company: Real Time Cloud Services, LLC
(Accounting & Finance Consultant, Real Time Cloud Services, LLC) |

This is the million-dollar question. CPA’s core strengths are in taxes, compliance, reporting, and audit. CMA’s are in business analysis, strategy, and corporate financial management. I would recommend CMA that will provide you more opportunity in finance and accounting field.

Anonymous
(CFO) |

"CPA’s core strengths are in taxes"

Uh, not so fast! That is one of my main gripes with the CPA designation and the way it gets used by the various professional organizations, the CPAs themselves and the corporate and general public consumers of CPA services. It is automatically assumed to confer expertise in all types of taxes.

It doesn't. It never has.

Some CPAs specialize and become tax experts. Most don't.

For too long I saw this used as a "smoke screen" by CPA club members to extract larger fees and market the designation as expert in an area where that may or may not be true, depending on the individual. It would be equivalent that saying all doctors are expert surgeons.

For the argumentative here, how much of the CPA exam covers federal and state income tax law? Sales taxes? Property taxes?

Better yet, how much experience is required in each to be certified? Where I'm from, tax work didn't count for any time. Only audit time did. (And yes, I know that things have loosened up since then.)

Philip Russell, CPA
Title: Chief Financial Officer
Company: FCB Homes
LinkedIn Profile
(Chief Financial Officer, FCB Homes) |

CPA

Arthur Yip
Title: Audit Supervisor
Company: On Assignment Inc
(Audit Supervisor, On Assignment Inc) |

If you might not end up working in Accounting, you may want to consider the CFA. It's a difficult exam but highly respected in the investment world. I have a friend that's a CFA. He works for an investment firm as a financial planner and has his own set of clients. CPA or CMA are reputable certifications but are more suited for public or corporate accounting.

1289 views

Get Free Membership

By signing up, you will receive emails from Proformative regarding Proformative programs, events, community news and activity. You can withdraw your consent at any time. Contact Us.

Business Exchange

Browse the Business Exchange to find information, resources and peer reviews to help you select the right solution for your business.

Learn more

Contribute to Community

If you’re interested in learning more about contributing to your Proformative community, we have many ways for you to get involved. Please email content@proformative.com to learn more about becoming a speaker or contributing to the blogs/Q&A Forum.