All About CMAs
A CMA can obtain employment by companies, government, and non-for-profit entities. A CMA can obtain employment as a Bookkeeper, Payroll Clerk, General Accountant, Budget Analyst, Cost Accountant, Internal Auditor, or Information Technology Auditor. These CMA careers have starting salaries ranging from $28,500 to $72,500, which is much higher than the salary range for CPAs.
A Bookkeeper does not need to have any certification, and therefore does not have to be a CMA. A Payroll Clerk must have certification called Certified Payroll Professional, or CPP, but does not need to be a CMA. A general accountant or budget analyst may not be required to be a CMA, but many CMAs begin as a general accountant or budget analyst. A Cost accountant must be a CMA and be licensed by whatever state agency monitors and regulates accountancy in that state. An Internal auditor must be a CMA and have an additional certification as a certified internal auditor, or CIA. An Information technology auditor must be a CMA and also have certified information system auditor licensing, or CISA.
The certification program to become a CMA is sponsored by the Institute of Management Accountants, or IMA. The CMA certification is proof of competence in management accounting. To receive a CMA certification, you must have a college degree, two years of experience, and pass a two day session of testing.
A CMA does not have the versatility of a CPA. Because a CMA works internally within a firm, the duties given to a CMA are fairly rote, meaning that the CMA does typically the same work each day. On the other hand, a CPA has as much variety in type of work and work duties as the variety of his or her clients. It is due to this fact that most accountants choose to obtain a CPA certification and licensing rather than a CMA certification and licensing.
Most CMAs are cost accountants. A CMA cost accountant enters transactions into accounting records like journals and ledgers. CMA cost accountants also prepare financial statements. The financial statements that the CMA prepares are vital to the business. The financial statements that the CMA prepares are used for business decision making, investor decision making, competitive comparison, and searching for industry trends. A CMA must also attempt to discover and correct any errors in the cost accounting records. This can be done in a number of ways, but is always very tedious for the CMA.
A CMA should be found if you are starting a business that will require extensive and accurate bookkeeping and accounting. You can save a lot of money in your business by hiring a CMA in house rather than using a CPA on a fee for service basis. In this way, you are left free to run your business while someone else worries about the accounting for your business.
Comments
Menu
My Articles
About The California Board Of Accountancyabout-the-california-board-of-accountancy.phpWhen To Use A Certified Public Accountant
Why Choose A Career In Accounting?
All About CMAs
Are You Ready For Tax Day?
All About Tax Planning
Different Types Of Accountants
How To Use Links Effectively
All About Tax Deductions
Where To Find Certified Public Accountants
How To Prepare For A Tax Audit
The Role And Benefits Of Accountancy
How To Choose Accountancy Software For Your Business
The Role And Operations Of Government Accountants
How To Find A Good Accountant
Starting A Business Accounting
How To Become A CPA
How To Draft An Agreement With Your CPA
Why Use Outsourced Accounting?
How CPAs Can Help You
All About UK Accountancy
Why Regulate Accounting?
How To Receive The Best Service From Your Accountant
Custom Search
My Articles How To Prepare For A Tax Audit There is no reason to be afraid of an audit if you have been.. Starting A Business Accounting Starting a business can be quite trying at times. There are many things you.. How To Use Links Effectively Accountancy website links are everywhere on the internet. They can be.. Why Use Outsourced Accounting? There are many reasons why accounting is being outsourced more commonly.. |
|
|
Related News:
|
Custom Search
