Congrats! I just earned the CMA as well and already have my CPA license. The CMA exam was slightly harder in my opinion, passed with a 72 exam score on both parts 😅
I have had a CMA for over 10 years. Most employers have no idea what it is. Almost all CPAs think it's worthless. I tried to explain it that CMAs work primarily on corporate accounting and CPAs do tax and audit. Controllers are best served as CPAs, finance managers up through CFOs might be better as CMAs.
It depends on who you’re talking to honestly. I didn’t know what the CMA was until 2 years ago and after careful consideration and research and long study hours I became one in 2024 🎉
This is the best explanation I have ever seen on the subject! I would love to know your input on a CMA - EA combination. Again, you did such an amazing job. Many of the times that CPA's have given me input on the CMA, they almost always snub the CMA and say that it is second rate when compared to the CPA. I saw a much more honest approach from you. The comparison between the Mercedes and BMW totally paints the picture. Thanks!
I have the same question about the CMA-EA combo. Unless you're working in auditing, I'm struggling to see the benefit of a CPA over a CMA + EA. If your providing accounting and tax services, some states require you to be a CPA to the use of the word "Accountant" in advertising services. The other one is just public recognition, nobody says "let me talk to my CMA" or "EA," they always say, "let me talk to my CPA." Personally, I'm about 5 years into my career and I don't have the 150 credits to become a CPA. I'll be getting an EA license soon and then start working on the CMA.
@@Samuelh8989 I totally agree. I think that is where people are landing. It takes awhile for people to question the norm and make something different and their own flare. I also think that this change will also encourage the practitioners to share more strategy with their clients....most of the CPAs I have worked with just don't take the time to do that. To me, that is the value added instead of just filling out forms for the client. Communication is key! CMAs do a LOT of strategizing. I think it will only be a matter of time before the CMA and EA is just as known. Change takes time and is only caused by those who challenge the norm🙂
In the US, you do not need to be a CPA to sign off on tax returns. You need it to sign off on audit and review engagements. You need to be either a CPA, Enrolled Agent or attorney to represent a client before the IRS.
I am a CMA and thought you did a good job laying this out. I to get asked what is the difference all the time. My current role is in revenue management and pricing strategy.
Hi, I am taking my Part 1 CMA exam in less than 3 weeks. Currently an FP&A, after I told my boss I will sit for the CMA exam, he offered to pay for the exam and will request a salary increase after I pass -- been at my job for 6 months. I think mainly because he knows I will be highly seeked after by other companies when I pass my CMA and wanted to keep me. IMO, CPA is great for Public accounting but in the private sector (mainly manufacturing) CMA is way more appealing. Depending on your career wants, both certificate will immediately add monetary value to you.
I believe everything being equal with a candidate , I think you might have a stronger technical accountant with someone who passes the cma vs the cpa. Although it says a lot by being able to get either credential. The CPA has more brand recognition in my opinion, so it is easier to market yourself as a professional. You could just get both credentials. I passed the cma, cpa, ea in that order.
@@clarenceharris524 well you wouldn’t need an EA if you have a CPA, right? But I agree that cpa and cma is a great combo to have and one that I am considering.
@@nikhiloommen4949 lol, simply typing accountants and 10 secs internet search, will show you that in America the Cpa is the most common accounting certification. so there's nothing to go back and forth about here.
Yes! I was waiting for this video. Simple but very informative. I want to thank you for your accounting interview help videos just landed my first accounting job in the A/R department of a global company. Looking forward to more videos in the future!
Far easier to get the experience requirement for the CMA. Plus, the IMI doesn't (often) verify your experience (random sample). While another CPA has to sign off on your experience, in every case, for the CPA license. Wider range of work qualifies for the CMA also. CMA travels with you better, if you want to live abroad (and I did). The CMA is wider in application, by which I mean you can get into finance easier (which I wanted to do). I wanted to work in finance, but knew a finance degree from a small university wouldn't cut it, instead I did an accounting degree with the CMA to get in.
Thanks for explaining the difference between CMA and CPA. Simple and informative. I was confused to choose between CPA and CMA and finally decided to go for CPA after watching the video. Hopefully next year by this time I will get all my CPA exams done. Again Thank You.
Great timing of this video. I was just thinking about this. CPA candidate here, decided to pursue it after 13 years as an Accountant. But also considering getting CMA after my CPA.
Also I want to slightly correct something you said. For the CMA exam, you can sit for it any time. However, you need 2 years of continuous work experience before you can officially put the credentials behind your name
You mention that you admire CPA's who started their own practice and that you may wish to follow this career path yourself in the future. Will you please consider making a video on the career path you would recommend for those students who want to gain practical education and work experience to ultimately prepare themselves for starting and growing their own firm? I would really appreciate this kind of video since most accounting videos focus on becoming the best employee wo discussing a strategy for developing an end goal of preparing oneself to become self employed. Thankyou!
Excellent video to understand the two types of certificates and, above all, the criteria to clearly establish which option to choose. Greetings from Ecuador
Your experience requirement does not need to be completed before you enroll in the CMA program or sit for the CMA exam. You are required to complete the experience requirement and send in verification within seven years of passing the CMA exam.
Thank you so much for creating this content. Glad I stayed to the end because I really needed to hear the message. I was stuck for so long but this video changed my perspective, and I feel like I can finally move forward. Thank you.
Great video! I hate that CMA doesn't have the same recognition and perceived value as a CPA. I am more interested in the CMA and have no interest in public accounting. I work for a bank as an Internal Auditor. The following certs are encouraged, carry an incentive and are reimbursed: CIA, CPA, CFE, and CISA. I plan to pursue the CPA so I can have flexibility. The CPA is the gold standard, I always see jobs requiring this certification. If you put CMA into LinkedIn and look for jobs it will return listings for the medical field as CMA also stands for Certified Medical Assistant. That right there is a problem. If you type in CPA it only returns accounting roles.
In Canada the CMA has been absorbed by the CPA. Candidates can either choose public accounting or finance/performance management as specialization for the exam.
I am CFO bound and I am glad I read about the CMA. I passed first exam on first try (idk how though, that thing was hard af). Taking second part this month. I do still plan to work towards CPA directly after CMA but I will say in my career I have worked with many CPAs who are only good with the theory of accounting and are trash with application of that theory. So their CPA license did little for them. It got them the job, but they dont do the job well.
Love from India, here it is very different, CPA is CA which have a national institute & licence authority (ICAI). If you look at the syllabus, CA is like CPA +CMA, ie. Tax, audit, costing, strategic management, control,etc.
I'm familiar with both. The only thing a CPA exclusively licenses you to do is to sign attestation reports for public consumption. Nothing else that I can think of exclusively requires a CPA license. It's interesting that most CPAs aren't even practicing what their license provides for them. Never understood why people pursue the CPA just to do taxes. Having said that, The CMA is way more relevant to the actual work that most accountants perform, especially in the corporate space. IMO, the CPA has undergone a severe devaluation over the decades. You see job postings for bookkeepers requiring a CPA now. smh.
Same in Canada. Jobs that were done by a bookkeeper or a technician with a 2 year accounting diploma now require a CPA which is extremely expensive to get and largely irrelevant to the job
I love learning about accounting. I’m a junior in college for my BA in accounting. But I honestly don’t want to climb the corporate ladder. I wouldn’t mind being a staff 2 accountant. Having a work/life balance.
Hello, I am currently going for my FAR exam for my CPA and getting ready to prepare for the one after, I've completed my 150 credits (MBA w/ Accounting and Accounting BS), as well as over 1 year of public work (Gov Audit as well as Personal and Corp Tax) I'm getting my CPA but I'm using it as a springboard to eventually get my PhD so I can become a professor, I dont personally love the public accounting world, it's a very great way to make a living but I'm a more free time oriented person over maxing out my income, however the knowledge I've gained through the CPA process is immeasurably helpful for both my own personal finances as well as helping friends with their businesses as well as being able to actually teach functional accounting and not just concepts in the future, the CPA study process has given me an outside look inward and its an amazing perspective to know. Could you possibly do something on the AICPA's CITS? I think Information Technology is going to be HUGE for accounting in the future especially with the rise of technology. is CITS worth it or is there a better path like learning a coding language + CPA? I think I'm becoming addicted to letters after my name hahaha.
@@TheFinancialController yes! My apologies, they had changed the name I think at some point I meant to say CITP! Certified Information Technology Professional. It appears as though many online say it may not be worth it, but it's also a newer certification arriving around 2008 I believe. It focuses on info security, cyber risks, business intelligence, data management and analytics, IT governance, risks and controls, on financial issues. I think there may be a large future for it, I'm considering it as a lighter test between my CPA and my PhD as I really love technology.
Will you please consider making a video on the career path you would recommend for those students who want to gain practical education and work experience to ultimately prepare themselves for starting and growing their own firm? I would really appreciate this kind of video since most accounting videos focus on becoming the best employee wo discussing a strategy for developing an end goal of preparing oneself to become self employed. Thankyou!
I started as a bookkeeper then moved up to accountant and then controller. It took 12 years and a degree, but at 31 I’m finally here lol. Just barely made it by the skin of my teeth 😅😆
It is understandable that a CMA would prepare someone for a CFO position but more than 75% of the time I see those jobs listing the CPA as required. And if it isn't, then it's "preferred". Is this because very few people know about the CMA? I am convinced there are a ton of people that don't know what a CMA is.
CPA is more widely recognized but the preparation for the CMA exam is more relevant to corporate accounting and finance. I have not seen evidence that companies pay higher compensation due to certifications.
Where are you located . i live in the east coast. And for certain high level Acctg positions, they wont even call you back without a CPA or CMA. Almost all senior financial analysts at Amazon are almost required to have a CMA or CPA. Im sure they would take an MBA only, IF you come from a top 30 B school - but if not. Good Luck getting in without those certs. Just sayin.
Just finished the CPA and I am really considering the CMA next! What are your thoughts on getting both? I currently work in industry within a very large energy company. I want to work my way up. I only did a 12 week internship in public accounting and did not like it. I decided to get the CPA because IMO the CMA is not that well known, but I see that it is becoming more mainstream. Please let me know your thoughts on both. Thanks!
Would it be accurate to say the odds of passing the cpa exam is .41x.56x.47x.58= 6.25% vs .45x.45= 20% for CMA and therefore passing the cpa exam is harder because the pass rates should be cumulative instead of the average? Am I over thinking this? 🤔 😅
Hello I want help, if you could please I want to start studying CPA , I haven’t other choice , i have more then 10 years experience Now I’m working as accounting manager, but anywhere I applied for finance controller they required CPA certificate Please I want to start, and please can you share with me the link of the school
Hello! I compled 4 years of Accounting at college outside of USA (Dom. Rep). I have diploma, certification and CPA license from my country. In my case, I'm looking for a job in accounting field. I worked in a small business as bookkeeper and I supported in many clerical accounting activities. What do you think about professional that come from outside of USA, how this affects the success in our careers. Thank you!
Just want to correct one thing, you don't need to have experience to sit on CMA exams, but the experience should be shown to IMA within 7 years of taking membership.
I earned my CMA in 2019 and I am currently seeking a new role. I do not have a CPA. I've seen some roles that state CPA or CMA required/preferred. I've seem some positions that state CPA required, even though based on the description, a CMA would make more sense. People who know what a CMA is seem to be really excited when they see it. In situations where they do not know what it is, I have to explain it to them and that usually leads to the question "do you plan to get the CPA?" I'm really not sure at this point.
The cpa name recognition is higher. I’d say pursue the cpa only if you plan to take the financial reporting route. But if for example your goal is a controller at a non public company, a CMA is great.
Hi, I’m CMA, lived and worked in Indian after I moved to USA. I studied for exam passed it, had work gap of 5 years.. looking to start fresh which and where career I should choose as a beginner
I didn't watch the video yet I only saw the comments, but I think you doin a good job anyway. My question is I'm will be comfortable with CMA in terms of finding a good positions, and experience instead of the academic education " knowledge". Knowing I'm on edge of year to graduate.
I have a bachelor degree in Accounting and i would like to study the CPA. But the problem is i dont have an experience in Accounting. I used to work in a bank as a customer Relationship officer. Any advice for me?
I currently work in manufacturing as a Staff Accountant and would prefer to stay in the manufacturing field as I feel more comfortable in that environment. I think FP&A responsibilities could be more fulfilling, but I’m definitely introverted, so I don’t know…
So long as you are able to go outside of your comfort zone and work on your communication skills then go for CMA even if you're introverted. Management will notice your insights and how well you explain it to them.
Took the financial accounting course and I am deciding to do a bachelors in engineering at Michigan Tech and masters in accounting while pursuing CMA I think it will help me manage projects better. What are your thought? I’ve been looking at the CMA prep courses I will only have 60 credits by spring… I am 20 years old. Any thought The Financial Controller?
Hi, I'm currently doing FMVA and was planning to get CFA over the next years, could you please enlighten me if I have CFA I still need the CMA to climb for the CFO in 10 years from now? My personality is aligned more with strategy than compliance. I would love to hear from you
Would you please make a video on the CTP also ... does it have any scope in the US or globally? I haven't seen any video from you on Treasury ... It's money-finance right?
Thank you for sharing this useful information. I have 1 year of auditing experience and 2 years of accounting experience. I wish to enter FP&A career but before that, I have to get a professional license. What comes to my mind is ACCA. Any professional advice can be given to me?
Thanks very much for your analysis..am really interested in the CMA qualification..currently doing ACCA..is it possible to travel to sit the CMA exams because don't have exams center in my country
Hi Mr Bill, thank you for this clarification. I want to get a CPA certificate, could you please recommend for me an university or school where I can pursue the training on line? Thank you so much and good luck 🙏
I majored in economics and just graduated in December and want to get the CMA but I don't know how because every finance/accounting job I've applied to requires experience or another certification such as bookkeeping or accounts payable. So how am I supposed to get experience? Should I start off with a bookkeeping or accounts payable certification to get experience then work up from there?
Do you have a video for engineering working professionals or graduates who are aspiring to get a CPA? If you have please share the link many thanks in advance
Do I really need a bachelors to go for being a CMA, and taking the test? I’m currently in the process in obtaining my Associate Degree in accounting; and wanted to know if I can be take a CMA with just that degree once I get it, and a little experience
Correction: For CMA, the 2 year work experience can be after the exam, and doesn’t need to be prior to the exam.
Correction: As a CPA you just need to apply in another state, not get their equivalent of a CPA.
But ravi indupuri moody doesn't mix up with anyone
@@acm0045 but ravi indupuri eats food though he's moody cost accountant fellow
Also for CMA certificate the 2 years of work experience can completed up to 7 years after passing the exam
Yeah I heard that I was like wait what? I was about to be pissed for a minute
I have both CPA and CMA. I work for manufacturing industry. CPA got me the job, CMA helps me to do day to day job.
I have CMA and going to start CPA
I wanna be like u
Congrats! I just earned the CMA as well and already have my CPA license. The CMA exam was slightly harder in my opinion, passed with a 72 exam score on both parts 😅
Did the cma help you with costing?
Kudos to you, brother. My dream is to get CPA and CMA, both. I know it will be hard, but i put an aim that im gonna do it!
I have had a CMA for over 10 years. Most employers have no idea what it is. Almost all CPAs think it's worthless. I tried to explain it that CMAs work primarily on corporate accounting and CPAs do tax and audit. Controllers are best served as CPAs, finance managers up through CFOs might be better as CMAs.
The best explanation I’ve heard thus far
This is my fear with pursuing a CMA. If someone doesn’t know what it is how does it help you more than just knowledge of the job?
It depends on who you’re talking to honestly. I didn’t know what the CMA was until 2 years ago and after careful consideration and research and long study hours I became one in 2024 🎉
This is the best explanation I have ever seen on the subject! I would love to know your input on a CMA - EA combination. Again, you did such an amazing job. Many of the times that CPA's have given me input on the CMA, they almost always snub the CMA and say that it is second rate when compared to the CPA. I saw a much more honest approach from you. The comparison between the Mercedes and BMW totally paints the picture. Thanks!
I have the same question about the CMA-EA combo. Unless you're working in auditing, I'm struggling to see the benefit of a CPA over a CMA + EA. If your providing accounting and tax services, some states require you to be a CPA to the use of the word "Accountant" in advertising services. The other one is just public recognition, nobody says "let me talk to my CMA" or "EA," they always say, "let me talk to my CPA."
Personally, I'm about 5 years into my career and I don't have the 150 credits to become a CPA. I'll be getting an EA license soon and then start working on the CMA.
@@Samuelh8989 I totally agree. I think that is where people are landing. It takes awhile for people to question the norm and make something different and their own flare. I also think that this change will also encourage the practitioners to share more strategy with their clients....most of the CPAs I have worked with just don't take the time to do that. To me, that is the value added instead of just filling out forms for the client. Communication is key! CMAs do a LOT of strategizing. I think it will only be a matter of time before the CMA and EA is just as known. Change takes time and is only caused by those who challenge the norm🙂
In the US, you do not need to be a CPA to sign off on tax returns. You need it to sign off on audit and review engagements. You need to be either a CPA, Enrolled Agent or attorney to represent a client before the IRS.
Correct
I am a CMA and thought you did a good job laying this out. I to get asked what is the difference all the time. My current role is in revenue management and pricing strategy.
Good to know Daniel! Thanks for watching and contributing!
Hi my friend , please i need some information and help , i want to start my CMA but i don't know how i will subscribe or the official website
Hi, I am taking my Part 1 CMA exam in less than 3 weeks. Currently an FP&A, after I told my boss I will sit for the CMA exam, he offered to pay for the exam and will request a salary increase after I pass -- been at my job for 6 months. I think mainly because he knows I will be highly seeked after by other companies when I pass my CMA and wanted to keep me. IMO, CPA is great for Public accounting but in the private sector (mainly manufacturing) CMA is way more appealing. Depending on your career wants, both certificate will immediately add monetary value to you.
I believe everything being equal with a candidate , I think you might have a stronger technical accountant with someone who passes the cma vs the cpa. Although it says a lot by being able to get either credential. The CPA has more brand recognition in my opinion, so it is easier to market yourself as a professional. You could just get both credentials. I passed the cma, cpa, ea in that order.
Where did you get the FP&A from and how long did it take you to get it?
@@clarenceharris524 well you wouldn’t need an EA if you have a CPA, right? But I agree that cpa and cma is a great combo to have and one that I am considering.
I've been researching accounting job posts, I haven't seen cma requirement that often. A cpa seems more common and well known.
YOU havent dont your research well
@@nikhiloommen4949 lol, simply typing accountants and 10 secs internet search, will show you that in America the Cpa is the most common accounting certification. so there's nothing to go back and forth about here.
Yes! I was waiting for this video. Simple but very informative. I want to thank you for your accounting interview help videos just landed my first accounting job in the A/R department of a global company. Looking forward to more videos in the future!
Amazing, thanks for following the channel Ryan!
Far easier to get the experience requirement for the CMA. Plus, the IMI doesn't (often) verify your experience (random sample). While another CPA has to sign off on your experience, in every case, for the CPA license. Wider range of work qualifies for the CMA also.
CMA travels with you better, if you want to live abroad (and I did). The CMA is wider in application, by which I mean you can get into finance easier (which I wanted to do). I wanted to work in finance, but knew a finance degree from a small university wouldn't cut it, instead I did an accounting degree with the CMA to get in.
The reason why CMA pass rate is lower is due to the entrance requirement as they indicated any bachelor degrees is okay.
Thanks for valuable insights Bill! Aspiring CMA and a future CFO here. Your video inspired me to pursue CMA. Keep it 👆.
Good luck!
Did you complete
Any updates?
Thanks for explaining the difference between CMA and CPA. Simple and informative. I was confused to choose between CPA and CMA and finally decided to go for CPA after watching the video. Hopefully next year by this time I will get all my CPA exams done. Again Thank You.
so how was it? it’s been a year already
Did you complete
passed 3 sections and
waiting for 4 th results@@jhonhonai9737
Great timing of this video. I was just thinking about this. CPA candidate here, decided to pursue it after 13 years as an Accountant. But also considering getting CMA after my CPA.
Good luck!
Also I want to slightly correct something you said. For the CMA exam, you can sit for it any time. However, you need 2 years of continuous work experience before you can officially put the credentials behind your name
I see, thanks for letting me know!
You mention that you admire CPA's who started their own practice and that you may wish to follow this career path yourself in the future. Will you please consider making a video on the career path you would recommend for those students who want to gain practical education and work experience to ultimately prepare themselves for starting and growing their own firm? I would really appreciate this kind of video since most accounting videos focus on becoming the best employee wo discussing a strategy for developing an end goal of preparing oneself to become self employed. Thankyou!
More people need to check this out! Thanks for sharing.
I want to be a CMA in the future
But ravi indupuri becomes moody doesn't mix up with anyone
Excellent video to understand the two types of certificates and, above all, the criteria to clearly establish which option to choose. Greetings from Ecuador
Your experience requirement does not need to be completed before you enroll in the CMA program or sit for the CMA exam. You are required to complete the experience requirement and send in verification within seven years of passing the CMA exam.
Thanks for this clarification Raneem!
7:58 you do not need to have 2 years of experience prior to taking the CMA exam. I am currently taking it and I haven’t even graduated.
You have seven years after passing your exams to get the 2 years of experience
Thanks for contributing this fact
@@TheFinancialController but he wouldn't go anywhere gurudutt Anna
Thank you so much for creating this content. Glad I stayed to the end because I really needed to hear the message. I was stuck for so long but this video changed my perspective, and I feel like I can finally move forward. Thank you.
Great video! I hate that CMA doesn't have the same recognition and perceived value as a CPA. I am more interested in the CMA and have no interest in public accounting. I work for a bank as an Internal Auditor. The following certs are encouraged, carry an incentive and are reimbursed: CIA, CPA, CFE, and CISA. I plan to pursue the CPA so I can have flexibility. The CPA is the gold standard, I always see jobs requiring this certification. If you put CMA into LinkedIn and look for jobs it will return listings for the medical field as CMA also stands for Certified Medical Assistant. That right there is a problem. If you type in CPA it only returns accounting roles.
My most awaited video is here !!!
Thank you, thank you, thank you
Hope it lived up to your expectations!
This was such a great explanation!! Very helpful!
In Canada the CMA has been absorbed by the CPA. Candidates can either choose public accounting or finance/performance management as specialization for the exam.
Which one is more preferable when it comes to starting a business?
God bless! Don't spend too much think and spend more time doing! Best advice in the video, thank you!
I am CFO bound and I am glad I read about the CMA. I passed first exam on first try (idk how though, that thing was hard af). Taking second part this month. I do still plan to work towards CPA directly after CMA but I will say in my career I have worked with many CPAs who are only good with the theory of accounting and are trash with application of that theory. So their CPA license did little for them. It got them the job, but they dont do the job well.
Love from India, here it is very different, CPA is CA which have a national institute & licence authority (ICAI). If you look at the syllabus, CA is like CPA +CMA, ie. Tax, audit, costing, strategic management, control,etc.
I'm familiar with both. The only thing a CPA exclusively licenses you to do is to sign attestation reports for public consumption. Nothing else that I can think of exclusively requires a CPA license. It's interesting that most CPAs aren't even practicing what their license provides for them. Never understood why people pursue the CPA just to do taxes. Having said that, The CMA is way more relevant to the actual work that most accountants perform, especially in the corporate space. IMO, the CPA has undergone a severe devaluation over the decades. You see job postings for bookkeepers requiring a CPA now. smh.
Same in Canada. Jobs that were done by a bookkeeper or a technician with a 2 year accounting diploma now require a CPA which is extremely expensive to get and largely irrelevant to the job
Thank you such a life savior, you just made me prove my vision and decision.
I love learning about accounting. I’m a junior in college for my BA in accounting. But I honestly don’t want to climb the corporate ladder. I wouldn’t mind being a staff 2 accountant. Having a work/life balance.
Thanks for watching Nakia!
I like the idea of CMA better. I hate working for the general public.
Can you talk about forensics accounting
Ok
@@TheFinancialController but shouldn't you worry about whether or not ravi indupuri becomes moody particularly while eating chilly cheese toast also?
15:35 I couldn't find the (big) thumb up, only the normal thumb up 😄 Thank you!
Hello, I am currently going for my FAR exam for my CPA and getting ready to prepare for the one after, I've completed my 150 credits (MBA w/ Accounting and Accounting BS), as well as over 1 year of public work (Gov Audit as well as Personal and Corp Tax) I'm getting my CPA but I'm using it as a springboard to eventually get my PhD so I can become a professor, I dont personally love the public accounting world, it's a very great way to make a living but I'm a more free time oriented person over maxing out my income, however the knowledge I've gained through the CPA process is immeasurably helpful for both my own personal finances as well as helping friends with their businesses as well as being able to actually teach functional accounting and not just concepts in the future, the CPA study process has given me an outside look inward and its an amazing perspective to know.
Could you possibly do something on the AICPA's CITS? I think Information Technology is going to be HUGE for accounting in the future especially with the rise of technology. is CITS worth it or is there a better path like learning a coding language + CPA? I think I'm becoming addicted to letters after my name hahaha.
Hey nick. I am not sure what CITS is. Can you tell me more?
@@TheFinancialController yes! My apologies, they had changed the name I think at some point I meant to say CITP! Certified Information Technology Professional. It appears as though many online say it may not be worth it, but it's also a newer certification arriving around 2008 I believe. It focuses on info security, cyber risks, business intelligence, data management and analytics, IT governance, risks and controls, on financial issues. I think there may be a large future for it, I'm considering it as a lighter test between my CPA and my PhD as I really love technology.
Ok yup I will address, good topic 👏
The video is very informative and thank you for the videos❤️❤️
Hi Fin Controller! Regards from the Philippines. What do I need to get a CPA certification in the US?
Love you content and please make more.
Loved this video 👌 very well explained about cpa and cma
Will you please consider making a video on the career path you would recommend for those students who want to gain practical education and work experience to ultimately prepare themselves for starting and growing their own firm? I would really appreciate this kind of video since most accounting videos focus on becoming the best employee wo discussing a strategy for developing an end goal of preparing oneself to become self employed. Thankyou!
I started as a bookkeeper then moved up to accountant and then controller. It took 12 years and a degree, but at 31 I’m finally here lol. Just barely made it by the skin of my teeth 😅😆
It is understandable that a CMA would prepare someone for a CFO position but more than 75% of the time I see those jobs listing the CPA as required. And if it isn't, then it's "preferred". Is this because very few people know about the CMA? I am convinced there are a ton of people that don't know what a CMA is.
CMA might not be required, but the type of work experience you will get will be most relevant to CFO work more than that of CPA
Thank you so much! This video gave me more clarity!
Thanks!
@@TheFinancialController ravi indupuri moody doesn't mix up with anyone
CPA is more widely recognized but the preparation for the CMA exam is more relevant to corporate accounting and finance. I have not seen evidence that companies pay higher compensation due to certifications.
Where are you located . i live in the east coast. And for certain high level Acctg positions, they wont even call you back without a CPA or CMA. Almost all senior financial analysts at Amazon are almost required to have a CMA or CPA. Im sure they would take an MBA only, IF you come from a top 30 B school - but if not. Good Luck getting in without those certs. Just sayin.
Good watch! Next video; CIMA versus CMA?
Ok
I'm a CPA in New York. I want to go get my CMA now.
Just finished the CPA and I am really considering the CMA next! What are your thoughts on getting both? I currently work in industry within a very large energy company. I want to work my way up. I only did a 12 week internship in public accounting and did not like it. I decided to get the CPA because IMO the CMA is not that well known, but I see that it is becoming more mainstream. Please let me know your thoughts on both. Thanks!
Good move with getting the CPA first!! It’s more impactful. I say add the CMA only if you want to branch out to FP&A or similar roles
@@TheFinancialController thanks i might shift into internal audit soon. If I do then ill consider the CIA instead of CMA
@@Revocateanimos24 Internal audit is a bad idea for a CPA.....
Thank you for your explanation. Here is my question - instead of thinking which to do, what's wrong doing both one by one?
Both together are amazing for one’s career for sure
Would it be accurate to say the odds of passing the cpa exam is .41x.56x.47x.58= 6.25% vs .45x.45= 20% for CMA and therefore passing the cpa exam is harder because the pass rates should be cumulative instead of the average? Am I over thinking this? 🤔 😅
What do you recommend? A. Associates degree in accounting or a certification?
Great explanation, thank you!
Very impressive presentstion. Can you provide your inputs on CMA+EA combination.
Thank you so much for this explanation, really i like it , appreciated
Hello
I want help, if you could please
I want to start studying CPA , I haven’t other choice , i have more then 10 years experience
Now I’m working as accounting manager, but anywhere I applied for finance controller they required CPA certificate
Please I want to start, and please can you share with me the link of the school
Hello! I compled 4 years of Accounting at college outside of USA (Dom. Rep). I have diploma, certification and CPA license from my country. In my case, I'm looking for a job in accounting field. I worked in a small business as bookkeeper and I supported in many clerical accounting activities. What do you think about professional that come from outside of USA, how this affects the success in our careers. Thank you!
which one is best US CMA OR US CPA please tell mee
Just want to correct one thing, you don't need to have experience to sit on CMA exams, but the experience should be shown to IMA within 7 years of taking membership.
The real money begins when you get the BMF.
I earned my CMA in 2019 and I am currently seeking a new role. I do not have a CPA. I've seen some roles that state CPA or CMA required/preferred. I've seem some positions that state CPA required, even though based on the description, a CMA would make more sense. People who know what a CMA is seem to be really excited when they see it. In situations where they do not know what it is, I have to explain it to them and that usually leads to the question "do you plan to get the CPA?" I'm really not sure at this point.
The cpa name recognition is higher. I’d say pursue the cpa only if you plan to take the financial reporting route. But if for example your goal is a controller at a non public company, a CMA is great.
@@TheFinancialController what about having both?
Could a CMA have their own practice as a fractional CFO?
Thank you for the information 🙏🏼
Thank you for those information.
Much awaited video.thank you
Great!
Can I get the CMA if I plan to own my own business? Or will I need to work for someone? I am a financial advisor
For MBA with 5 years of experience, which of these areas are best? CPA or CMA
In Canada, CPA stand for Chartered Professional Accountant.
Thanks for letting me know me!
@@TheFinancialController I saw dayanidhi turning his head across
Fin Controller, should I get a CPA or a CMA???
Can you be a freelance CMA and how much could you charge an hour?
I am starting my MAC at the end of the year. What area of study do you recommended for highest paying/ most wanted accounting fields?
Hi, I’m CMA, lived and worked in Indian after I moved to USA. I studied for exam passed it, had work gap of 5 years.. looking to start fresh which and where career I should choose as a beginner
I didn't watch the video yet I only saw the comments, but I think you doin a good job anyway. My question is I'm will be comfortable with CMA in terms of finding a good positions, and experience instead of the academic education " knowledge". Knowing I'm on edge of year to graduate.
What is the difference between of&a, controller, and a financial analyst?
Can you get both?
Is there any entrepreneurial opportunities as a CMA? such as consulting?
Thanks for your assistance ❤️
I have a bachelor degree in Accounting and i would like to study the CPA. But the problem is i dont have an experience in Accounting. I used to work in a bank as a customer Relationship officer. Any advice for me?
Here you go: my $1.00 contribution to the channel. lol Thanks very much for sharing such valuable content, Bill!
haha thanks Lucas!
I currently work in manufacturing as a Staff Accountant and would prefer to stay in the manufacturing field as I feel more comfortable in that environment. I think FP&A responsibilities could be more fulfilling, but I’m definitely introverted, so I don’t know…
So long as you are able to go outside of your comfort zone and work on your communication skills then go for CMA even if you're introverted. Management will notice your insights and how well you explain it to them.
Hi. What do you think about Business Analyst position? Is it ok to switch from Accountant to this position? Thank you 😊
I went from being an accountant to a financial business analyst. Learn as much as you can about the financial systems and data modeling.
such a beneficial video, Thank u 🙏
My question is I want my CMA but I don’t plan on going beyond my Associates degree, can I still get that certificate?
Took the financial accounting course and I am deciding to do a bachelors in engineering at Michigan Tech and masters in accounting while pursuing CMA I think it will help me manage projects better. What are your thought? I’ve been looking at the CMA prep courses I will only have 60 credits by spring… I am 20 years old. Any thought The Financial Controller?
Hi, I'm currently doing FMVA and was planning to get CFA over the next years, could you please enlighten me if I have CFA I still need the
CMA to climb for the CFO in 10 years from now? My personality is aligned more with strategy than compliance. I would love to hear from you
How are the factors the same for each CMA ? How are they different?
Would you please make a video on the CTP also ... does it have any scope in the US or globally? I haven't seen any video from you on Treasury ... It's money-finance right?
Thanks for this information
Have you done a video on Enrolled Agents????
what do you think about ACCA ?
Is it worth to past at first CPA and afterwards CMA?
ACCA more recognized in EU part
In India CPA earn more in big 4 than CMA, I have passed CMA, I am thinking to take CPA as well but the syllabus is more vast for CPA
Please tell me books & techniques that help you for your career CPA student
Thank you for sharing this useful information.
I have 1 year of auditing experience and 2 years of accounting experience. I wish to enter FP&A career but before that, I have to get a professional license. What comes to my mind is ACCA. Any professional advice can be given to me?
If you're working in Transactions Tax for the Big 4, will they pay for you to get a CFA? Is it worth getting the CFA for this role?
Hi, Can you please advise, After 9 years of accounting experience, if get CMA licence how much dose it worth.
Worth obtaining yes
Thanks very much for your analysis..am really interested in the CMA qualification..currently doing ACCA..is it possible to travel to sit the CMA exams because don't have exams center in my country
You don’t need to have the 2 year experience or even the degree to sit for CMA. You have 7 years after passing to meet requirements.
Hi Mr Bill, thank you for this clarification. I want to get a CPA certificate, could you please recommend for me an university or school where I can pursue the training on line? Thank you so much and good luck 🙏
Miles education or Northstar academy.
I just passed my CMA Part 1 and plans to take part 2 early next year. And then, the CPA exams. I say, go for both CMA and CPA.
Go for it, admire your dedication hope!
@@TheFinancialController but ravi indupuri moody doesn't mix up with anyone
I have an associates …. Was in school for bachelors but took a LOA. Can I still apply to sit for CMA?
I majored in economics and just graduated in December and want to get the CMA but I don't know how because every finance/accounting job I've applied to requires experience or another certification such as bookkeeping or accounts payable. So how am I supposed to get experience? Should I start off with a bookkeeping or accounts payable certification to get experience then work up from there?
Can work experience in private accounting meet CMA's requirement, or does it need to be in public accounting? TIA!
Do you have a video for engineering working professionals or graduates who are aspiring to get a CPA? If you have please share the link many thanks in advance
Do I really need a bachelors to go for being a CMA, and taking the test? I’m currently in the process in obtaining my Associate Degree in accounting; and wanted to know if I can be take a CMA with just that degree once I get it, and a little experience