Differences Between Similar Products
Feb 13, 2012 by daniel
Difference between CPA and CMA
Today, it is very important to obtain a certification so as to boost your chances of getting a job or a promotion. CMA and CPA are two important certifications that accountants can consider after finishing their university course. Even though they would still be capable of getting good jobs without certifications, accountants who take and pass either a CMA or CPA certification have better chances of obtaining higher paying posts than their non-certified colleagues.
CPA is actually the more widely known certification as compared to CMA. Furthermore, it is the most accredited and accepted certification that an accountant can get. Some of the main tasks that a CPA handles include things like taxes, preparation of financial statements and auditing. CPA’s are also supposed to make sure that an organization meets all the legal fiscal requirements that are mandated by government agencies.
In contrast, accountants who receive a CMA certification are actually more skilled in handling the responsibilities that pertain to financial analysis, strategies and management. Besides this, CMA accountants also have the great ability of leading or managing employees. These accountants have an adequate amount of business knowledge to enable to business or company to prosper.
There is a great difference in the work opportunities that both certifications offer. Although getting a CMA or CPA certification greatly enhances your probability of getting employed than other applicants, CPA certification generally covers a very broad scope. It largely focuses on providing auditing skills as well as knowledge of all financial and tax regulations in a certain country or state.
However, accountants who obtain CMA certification are considered to be more specialized. This means they have the capability of offering similar services like those of CPAs, but with the additional benefit of acting like leaders in a corporation or organization. Unlike CPA accountants, CMA certified individuals are highly specialized and usually form the top management staff.
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