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In the accounting world, there are different types of certifications you can achieve depending on the kind of work you want to do. If you are going to school for accounting, chances are you have heard of a few in your classes or floating around. You may be wondering which would be the most beneficial for you and the line of work you want to pursue in your career. Keep reading to learn more about the different types of certifications to pursue in accounting.
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Why Should I Obtain a Certification?
Getting a specific accounting certification shows your expertise in that area and can make you more qualified for a higher-level position. It also shows that you put time and effort outside of normal schooling to improve and increase your knowledge. Set your accounting career up for success by obtaining the right certifications.
1. Certified Public Accountant (CPA)
Obtaining a CPA is one of the best and most popular certifications to get. When you become a CPA, you can perform all kinds of accounting practices, such as auditing, bookkeeping, compliance, tax services, financial planning, forensic accounting, etc. CPAs can work for the government, public firms, private firms, or work individually to have their own clients. Many daho Falls accountants hold CPA certifications.
If you earn a CPA, there are many different directions you can take with it. To earn one, you must complete 150 hours of education, usually consisting of a Bachelor’s Degree or higher in accounting, with specific courses taken. From there, you must take and pass the CPA exam to get your license.
2. Certified Management Accountant (CMA)
When you earn a CMA, you increase your expertise in areas such as budgeting, decision-making, risk management, financial analysis, etc. Most often, someone who holds a CMA will work in a corporate business setting, holding a higher-level position in the accounting or finance department. If you want to specialize in accounting for a business in a specific industry, obtaining a CMA would be extremely useful.
After fulfilling the education requirements, which consist of earning a Bachelor’s Degree or equivalent, you must apply for the CMA program through IMA. Once enrolled, you must go through the program and successfully pass the exam.
3. Chartered Financial Analyst (CFA)
If you are looking for a career that leans more towards the financial industry, you may want to get your CFA. Once you earn a CFA, you can help businesses and other clients prepare for the future of their financials through investment management, portfolio analysis, financial advising, etc.
To obtain a CFA, you need to get a Bachelor’s Degree and have earned it within a year of applying to a CFA program. If you are not obtaining a degree, you must have 4 years of professional work under your belt. From here, you can enroll in the program and eventually take the 3 part exam.
Conclusion
Depending on what path you want to take in your career, one certification may be more beneficial for you than the others. All three of these certifications can help elevate your skills and expertise to thrive throughout your career.
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