The CPA qualification is one of the best known qualifications in the field of finance, and so is CMA. So does it make sense to do CMA after CPA, i.e. go for both the certifications?
The answer is yes. CPA focuses on financial accounting, public accounting and tax returns preparation. On the other hand, the CMA course focuses primarily on financial and management accounting. So if you are already a CPA, then doing CMA after CPA will help to enhance the scope of your career in a big way.
The worth of the CPA course
The CPA course is very powerful and it is the qualification of choice for many students of the USA who look for careers in finance. The reason for its popularity is that is backed by laws passed by all 50 states and another 5 districts of the USA.
These laws grant the CPA certificate holder the authority to pursue a career in public accounting and do attestation work for the public companies. It is mandatory for all public and nonprofit companies to seek the services of CPAs. Any company which provides public accounting services in these respective states and districts have to employ CPA license holders, who in turn will render these services.
So then, why should I go for CMA after CPA?
In this age of fierce competition, you have to stay ahead of the others to get the best job opportunities and grab the opportunities that come your way. Having the right set of qualifications and proving your worth in your workplace will help you to the top of the corporate ladder easily and comfortably.
The CMA qualification was introduced in 1972, and there are at present more than 37,000 CMA qualified professionals around the world. When it comes to securing a job, you will have to compete with at least some of them. You must consider doing CMA after CPA to add value to your resume and get a competitive advantage.
So, if you are planning to have a great career in accounting, then you must aim for doing CMA after CPA.
Advantages of doing CMA after CPA
Stand out from the crowd:
As per IMA, out of 3 active CMAs in the USA, one is also a CPA. Typically these are the people who hold higher management positions in their organisations and draw better pay packages. If you want to be one of them then certainly you can go for the CMA examination after your CPA and become one of the chosen few.
Gather Additional skill sets:
The CMA certification is a great addition to other educational qualifications and it enhances analytical abilities and critical thinking skills of the candidates.
Enhance your image:
Most people find it very difficult to complete one professional qualification. However, if you are able to complete both CMAs and CFA then it will have a great impact on your resume. The recruiter who will be interviewing you will instantly know that you have been a diligent and systematic student, that’s why you have been able to complete both the qualifications. This will have a great impact and you will stand a better chance of sailing through in the interview.
Potential of earning higher salary:
CMAs on 61% more than then on CMA counterparts globally. By completing CMA after CPA you will stand to gain immensely in terms of the pay package that you will be getting.
Choice of diverse roles:
An in-depth knowledge about all types of accounting will make you eligible to get a wide range of jobs. This will make it easier for you to get a job of your choice.
These are some of the compelling reasons why you can definitely go for a CMA qualification. If you are really good at managing your time, you can also do both simultaneously. However it will be best if you do CMA after CPA, in order to give both the courses the attention that they deserve.