CMA vs CIA - Which Accounting Certification Is Right for You?
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- čas přidán 26. 07. 2024
- CMA vs CIA - Which Accounting Certification Is Right for You? // Either of these can enhance your credibility and both can have a significant impact on your career path and earning potential. Which is better for you, however, will depend on your interests and goals.
Obtaining either one takes a significant investment of time and money, so it’s smart to really understand the benefits and costs of each before committing to one.
In today’s episode, I’ll compare these two certifications, break down the costs and prerequisites for each one, and discuss the career paths they’re best suited for.
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Would you want to work in audit or management? Let me know in the comments
management
I want to (continue) to in management accounting. I have a Bachelors from an (approved) accredited institution and 10 years of experience. The question, how do they verify the experience?
Hi Rose. Once you have completed your two years of full-time work experience (or four years of part-time work), it is time to submit proof.
Submitting CMA experience requirements is easy. To start, you must fill out the work verification form, which you can find on the IMA website here: mc-69e30ef4-758e-4371-ac6f-2657-cdn-endpoint.azureedge.net/-/media/IMA/Files/Home/IMA-Certifications/CMA-Certification/Confirmation-of-CMA-Experience-Requirement.ashx?rev=2455b1ff9aa9448982641be99e5f77c8&hash=AF2B650E29032C0356B6865C674619A9&_ga=2.252017345.971918297.1721660097-695172219.1708440768
Once complete, email it back to IMA at ccurtin[@]imanet.org.
If you have any questions while filling out your form, you can use that same email address to contact them or call toll free at 1-800-638-4427.
Please help As i have been an arts eco student with 70 % but i have studied commerce in 11 somehow i had completed 11th due to illnes but went open schooling to complete my 12 where I had to move with arts business eco so could you guide that this ICA institutions opened in Chandigarh provides CIA coaching for 10-12 months. so is it possible to complete & get job after two years of experience
Generally i think after cma some students are struggling for job the reason they have no practical experience that is main limitation of this course i think this course is suitable for a working professional iam a cma aspirant so my friends after cma us qualified they are very struggling to get a job 😞
After completing CMA which job role is more good?
I have an awesome resource that’ll give you a lot more information about career and salary potential as a CMA. Check it out here cmaexamacademy.com/certified-management-accountant-salary-in-the-usa/ref/nathan/
I have seen a lot of videos for a lot of different industries, jobs, and certifications.
I have noticed that, it's not just 1 certification that matters only.
It's a collection of certificates that get you to get payed very well and allow you to be respected.
The most important sectors in all of these high tier certifications; CMA,CPA,CIA,PMP etc.
Ethics, compliance, document authentication, and for some reason even project managers need auditing.
In conclusion, to build your resume, it looks like getting these specific/general cert. Are a great deal.
NOTARY PUBLIC
Certified Fraud Examiner(CFE),
Compliance cert.
Leadership professional in ethics cert.
I probably have not be exposed to every certificate, but i have looked at hundreds of high level positions in finance, accounting, PM, and others, and these are required!
Although having multiple certifications can be beneficial, the credentials only matter if the career one is in requires them. It is essential to research the necessary certifications for the job and industry you are interested in and make sure you have the necessary qualifications. Additionally, it is important to make sure the certifications you have are up to date and relevant to the job you are applying for.
Hey sir, I’m currently in my last year majoring in accounting, but I want to get into finance and my goal is to do CFA. My university didn’t have an option for finance and I had to go with accounting and now I’m confused if I should do CMA so that I get some knowledge of finance along with perfecting my accounting knowledge or should I just go with CFA? I can save my time spent in CMA and study for CFA, please guide me
If you plan to work in investment banking then the CFA is a good choice. For corporate accounting, the CMA is the better choice.
Is it good to take both of them?
You could do both of course, but depending on your career objectives, probably one makes more sense to have than the other since both cover complete different areas in accounting.
Can you suggest a course as an alternative for CFA in investments side?
I'll look into it and make a video on this topic, but to my knowledge the CFA is the gold standard for investments.
@@Cmacoach Yes. But it is very time consuming course and very expensive too. Somehwhat related courses are FRM and CAIA.
Hi, how much hours study is best for an average persons to clear 1st part of CMA
I’ve put together a video that’ll help you create a study plan that works for you and your schedule. I’d recommend watching it to give you an idea on how to do it: CMA Study Plan for Working Professionals czcams.com/video/-uDc9s6x6gw/video.html even if you’re not working full time or at all, the strategy I share in this video is still applicable because the principles are the same. Thanks
This video is really helpful, just need suggestion I have already completed cma can I do cia also will this add up in my profile? Will profile look stronger if I hold both cma and cia ?
Thanks for watching the video and for leaving a comment! It's awesome that you found it helpful.
As for your question, yeah definitely, you can go for CIA after CMA. Adding another certification to your profile can be a great way to show your dedication to the field and your willingness to keep learning and growing. Plus, having multiple certifications can open up more job opportunities and earning potential. But it depends on what you want to achieve and if you feel that this is the right step for you.
It's worth taking a look at the requirements, content, and time commitment for both certifications and weigh the pros and cons before making a decision. Good luck on your career journey, you got this!
@@Cmacoach thanks for your advice it means a lot to me
It's my pleasure
Hello sir, Do CMAs travel as often as auditors? Because I want to travel as an accountant for job purposes. And is it possible for CMA to work in different departments?
Hello! The amount of travel for a CMA can vary depending on the employer and job role. Some CMAs may travel frequently for work, while others may have more of a desk job with little to no travel. However, it is possible for a CMA to work in different departments such as finance, accounting, budgeting, and audit, depending on the employer and job role. Some CMAs may specialize in a specific area, while others may have a more general role. It's a good idea to research different companies and job roles to see which align with your desired level of travel and the type of work you're interested in.
I want to work with managment side. Hence i choose CMA. But getting jobs in the right area is a concern. I have 12 years experience in fund accounting and Nav(Hedge fund). How do i get the right job and which country,since I am from India?
I have an awesome resource that’ll give you a lot more information about career and salary potential as a CMA. Check it out here cmaexamacademy.com/certified-management-accountant-salary-in-the-usa/ref/nathan/
@@Cmacoach So question is for a Financial management position will a company count my current experience in fund accounting? Or will they consider me only as a fresh CMA for entry level job? CMA salary for freshers is almost 50% less than my current CTC in india. This is the confusion.
It'll depend on what the company and position you're applying for is looking/asking for. The best way to find out is to start applying and interviewing.
When you say the median salary for accountants is around 77k are you referring to CPA’s or bachelors degree
It's based on a bachelor's degree. For more info: www.bls.gov/ooh/business-and-financial/accountants-and-auditors.htm
How good it is when we take CIA after completing CMA US, Will it opens more job opportunities and hike in salary ?
Hi Abdul. Yes, both certifications are globally recognized and can open up more job opportunities in the field of accounting and auditing. Remember that the results may vary depending on other factors such as the job market demand in your region and your level of experience.
I wrote an article on my blog about both certifications. You can read it here: cmaexamacademy.com/cma-vs-cia/
Sir,.
I'm doing my bachelor's
Pl s tell me about how and where can i pursue this course
In the USA
Nd is there any scholarship criteria too? For this
The CMA journey can be confusing, at first. To help clarify all the steps, I’ve written an article to help candidates like you understand the entire process step by step. Here it is cmaexamacademy.com/how-to-become-a-cma-in-just-over-6-months/ref/nathan/
Parts 1 and 2 of the CIA exams are 2 hours each and not 1 hour.
Hi. The information about the duration of each exam has been updated and differs from what was available a year ago when I posted the video. Currently, part 1 of the exam has a duration of 2.5 hours, and parts 2 and 3 each have a duration of 2 hours. You can view the updated information on the official website of the Institute of Internal Auditors.
I have cma part 2 exam on 27 sept please some tips to pass the exam
Rushil, Here’s a collection of the best content to help you get started on the right foot. Invest some time into learning more about the CMA and how best to study for the exams: cmaexamacademy.com/start-here/
Can we take CMA exams during first year of under graduation and are we eligible for job during under graduation after cma
Tabita, yes you can take the exams while still in college. The IMA offers a Student membership to help college students save.
Thank u sir
You bet!