The CMA/CFM credentials differ significantly from the CPA designation, and the decision to pursue one over the other depends entirely on one’s career goals. For a career in public accounting, the CPA designation is appropriate – and required by state law. However, more than 80% of accounting professionals in the U.S. work inside organizations, building quality financial practices into the organization through decision support, planning, and control over the organization’s value-creating operations. For these managerial finance and accounting professionals – who represent the majority of the profession – the appropriate certification is the CMA/CFM.
CMA vs CPA
CMA/CFM
Credentials:
- International recognition
- Targeted to corporate financial professionals
- Broad-based, industry-related content
Knowledge-Based Professional:
- Preparer/user of accounting information
- Concept-based
- “Inside” corporate professionals
- Higher-quality, lower cost “beans”
- “Player”
CPA
Designation:
- Limited to U.S.; a state designation
- Targeted to public accounting
- Content for public practice
Skill-Based Professional:
- Auditor of accounting information
- Rule-based
- Public practice licensure
- Attesting to the accuracy of the “beans”
- “Referee”