Are you considering a career in accounting? If so, you may be wondering whether to pursue a Certified General Accountant (CGA) designation or a Certified Management Accountant (CMA) designation. Both programs have their advantages, but there are some key differences between them. In this blog post, we’ll take a closer look at those differences and help you decide which program is right for you.
What is CGA?
CGA Certified General Accountants is a professional accounting designation that is recognized internationally. CGAs are required to complete rigorous CPA-equivalent examinations, which cover topics such as financial accounting, auditing, taxation, and management accounting. In addition, CGAs must complete annual continuing education requirements in order to maintain their designation. As a result, CGA Certified General Accountants are highly-skilled professionals who are able to provide comprehensive financial advice and services. When working with a CGA, you can be confident that you are receiving the highest quality of service and advice.
What is CMA?
CMA (Certified Management Accountant) is a professional designation awarded by the Institute of Management Accountants (IMA). To earn the CMA, candidates must pass a two-part exam and have at least two years of professional experience in management accounting or financial management. The CMA exam covers topics such as financial reporting, planning and control, cost management, ethical and legal issues, and information technology. The CMA designation is earned by less than 1% of accounting professionals worldwide and is recognized as a mark of excellence in the field. CMAs are highly sought-after by employers and command a premium salary. If you are looking to further your career in management accounting, becoming a CMA is an excellent way to stand out from the crowd.
Difference between CGA and CMA
Certified General Accountants (CGA) and Certified Management Accountants (CMA) are both professional accounting designations. The CGA program is focused on financial reporting, taxation, and auditing, while the CMA program is focused on strategic planning, decision making, and financial management. Both programs require candidates to have a university degree or equivalent, complete an accredited professional education program, and pass a final exam. However, the CGA program can be completed in as little as 18 months, while the CMA program requires two years of professional accounting experience in addition to the educational requirements. As a result, CMAs tend to have more senior-level positions than CGAs. Both programs are highly regarded by employers and provide holders with a wide range of career opportunities. Deciding which program is right for you will depend on your educational background, work experience, and career goals.
Conclusion
The Certified General Accountant (CGA) and the Chartered Management Accountant (CMA) are two professional accounting designations that offer different levels of expertise. While both programs have their benefits, it is important to understand the difference between the CGA and CMA in order to make an informed decision about which designation is right for you.
