If you’re a student or professor, your total fees are only $810. IMA membership is also required – the cost for membership varies, depending on your career path and level. Current students – check with your college professors, the IMA has scholarships available that allow you to take and pass the exam free! Some of the scholarships may even include an exam review package. When considering whether to pursue the online bookkeeping exam, it’s important to be informed – read what other students preparing for the exams are saying and ask your network. However, CMA vs CPA exam difficulty should only be one factor in your decision, alongside your career aspirations, the reputation of the certifications and more.
- You will have to sit for 2 examinations that are 4 hours long which trust me is easy when compared to CPA’s 14-hour-long exam.
- I took the CMA exams back in 2017 before tackling the CPA exams in 2019/2020.
- The subjects that you’ll study are a combination of Management and Finance such as Performance Management, Corporate Finance, and Risk Management.
Although the CMA and CPA certifications are the most widely achieved and recognized certifications, they are not the only ones available. Another element to consider when deciding between the cma vs cpa exam is the cost. The CMA exam has an entrance fee and a registration fee for each exam part. As of January 2020, if you are a professional member of the IMA your entrance fees and exam fees total $1,080, if you pass both parts the first time.
Comparison Of Cpa Course With Other Courses
When considering an accounting bookkeeping certification, the biggest hurdle to acquiring either will be the exam. The content of each set of exams is well-documented by each examining body . Although the CMA vs CPA exam difficulty is subjective, some of the main differences between CPA and CMA are the exam formats and requirements. Let’s take a look at the difference between CPA and CMA exam structures.
The Certified Public Accountant is a license given to an accounting professional who has passed the CPA exam and has met their state’s licensing requirements. This certification is offered cma vs cpa by the American Institute of Certified Public Accountants . The Certified Management Accountant is a globally recognized certification in financial accounting and strategic management.
Cpa Vs Cma: Which Is The Best Certification For You?
This certification is offered by the Institute of Management Accountants . Before deciding which path to take, it’s important to understand the basics of both accounting certifications. The main difference between CPA and CMA certifications include education requirements, testing structure and costs. For CMA, you need a Bachelor’s degree in Accounting, Management, or any retained earnings balance sheet other field related to CMA and you need 2 years of working experience in a financial or management related field. Even after getting the Certified Management Accounting certification, you will be required to complete 30 hours of Continued Education every year. The basic requirement for all states is that students maintain 40 hours of Continuing Education per year.
You must also obtain two continuous years of work experience in management accounting or financial management. If you are wondering how to get a CMA certification, you will need a CMA exam passing score. This exams longs for you to prepare for this exam in advance, as the test is far from easy. https://simple-accounting.org/ With the right tools and will to do more, Certified Management Accountant course prior to test may help you. You can also know how to pass the CMA exam on your first attempt. FAR tests on a wide range of topics that even those working in public accounting are likely to not have encountered.