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  • 1.  Pursue CMA

    Posted 03-18-2020 01:16 PM
    Dear All,

    I have been thinking to pursue CMA over CPA 

    I would like to know a few questions-


     I have my Bachelor's in BBA in finance and most of my career I have been in the banking sector. So, no accounting specially related working with general ledger, making financial statements.  Therefore, I wanted to understand how much of the accounting I should know to pursue this and should I pursue some courses prior to this . I have learnt that credits are not required as in case of CPA. Please advice.

    Also, I would like to know level of difficulty for both CPA and CMA 

    And also the job opportunities that I will get after pursuing CMA.

    Would highly appreciate your feedback.  
    Anshu Aujla


  • 2.  RE: Pursue CMA

    Posted 03-21-2020 03:02 PM
    Hi Anshu,

    You will be able to learn everything you need to know in order to pass either of the exams using several review course providers out in the market. The requirement to sit for the CPA exam as well as the process of applying for the CPA license (once you pass the exam) varies state by state in the U.S. so I'd strongly recommend you check out the state (whichever state you'd like to be licensed in)'s board of accountancy website.

    As for the difficulty of each exam, based on on my person experience, the overall process of the CPA exam is more difficult than the CMA exam as there are 4 different sections that cover wider breadth of its exam contents as opposed to just two sections of the CMA exam. Nonetheless, I wouldn't discount the difficulty of the CMA exam as I found the questions tested on the CMA exam to be just as difficult as the questions I've seen on the CPA exam. Although there are 2 parts for the CMA exam, the exam will extensively test all the topics covered as there are only 2 parts so you need to little nuances of each concept well.

    With that being said, the prospect of you having job opportunities after obtaining the CMA exam (or the CPA exam) entirely depends on whether you're pursuing these professional designations in the U.S. or outside the U.S. Moreover, it also depends on whether you're looking for a job in industry vs. public accounting. I can say that CPA is still more popular here in the States, but the number of candidates pursuing the CMA certification is significantly growing as well. 

    Like I said, the above response is based on my experience and I'd be happy to hear other professionals' opinions as to what they think about them. I hope this helps!

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    Daniel Jo, CPA
    Assurance Associate
    Winston-Salem, NC
    United States
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    Original Message


  • 3.  RE: Pursue CMA

    Posted 03-26-2020 01:38 PM
    Dear Anshu,
    I have a Finance Bachelor's and my experience began in residential mortgage operations. I also have accounting experience as well. I found Exam 2 to be very aligned with my major and Exam 1 to require learning new material as part of my review. I imagine that if I took a couple extra courses, say Cost Accounting and Intermediate Accounting, I would have been equally prepared for both.

    Some review publishers (and perhaps IMA) offer a free assessment test so you can gauge your current understanding for the CMA before making a financial commitment. Knowing your gaps you can pick your preferred learning method (textbook, traditional class, review course, etc) and go from there.

    Others can better speak to the other parts of your question. Hope this helps.

    ------------------------------
    Ryan Holden CMA
    Accountant
    Provident Funding
    Redmond WA
    United States
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    Original Message