CMA Certification for Accounting Students
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This research examines the issue of CMA certification. CMA stands for Certified Management Accountant.1 The CMA is the only professional designation for management accountants.2 Although the CMA is associated with management accounting, as opposed to financial accounting, seeking CMA certification should be considered in addition to CPA (Certified Public Accountant) certification, and not in lieu of CPA certification, as the primary road to success in the accounting profession remains through CPA certification.3Management accountants, including CMAs, thus, are typically educated and trained first as financial accountants. Thus, in the typical case, CPA certification will be sought before CMA certification. Where financial accounting is concerned with recording actual financial transactions, managerial accounting is concerned with the discovery of relationships in financial data which enhance managerial decision making. Eight factors and characteristics differentiate traditional managerial accounting from financial accounting. These factors and characteristics are as follows.4 1S. P. Agrywal, "Yes, CMA Certification Is Valuable," Management Accounting, 72 (June 1991): 35. 2P. H. Siegel, Marie E. Dubke, and John T. Rigsby, "How Useful Is the CMA?" Management Accounting, 73 (April 1992): 43. 3R. Williams, "The Importance of Credentials in Public Accounting," National Public Accountant, 37 (September 1992): 36 38. 4R. H. Garrison, Managerial Accounting, 5th
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1990s, there are more than 300 thousand CPAs in the United States.8 At the same time, the number of CMAs in the United States approximates only 10 thousand.9 All other factors being equal, those individuals among the 10 thousand CMAs who are also certified as CPAs have something additional to offer an employer, and, thus, possess greater promotion potential.
5R. N. Anthony, and J. S. Reece, Accounting, 9th ed. (Homewood, Illinois: Richard D. Irwin, Inc., 1991), 246.
6M. McInnes, and J. H. MacNeill, Supply of Accounting Graduates and Demand for Accounting Recruits (New York: AICPA, 1991) 16.
7Ibid., 21.
8Robert Half, "Why Do I Need A CMA?" Management Accounting, 73 (April 1992): 14.
9Ibid.
Each of the "Big Eight" firms has its own set of recruiting guidelines. Generally speaking, however, there are essential criteria which all of the firms employ in their selection processes. With respect to CMA certification, significant among these recruiting guidelines is the objective to seek individuals who are seeking upper management or partnership positions as long term career goals.10 Individuals who successfully pursue a CMA certification demonstrate that they are committed to preparing themselves for the responsibi
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Some common words found in the essay are:
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Approximate Word count = 1539
Approximate Pages = 6 (250 words per page)
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