All About CMAs
A CMA is a Certified Management Accountant. This is different from a Certified Public Accountant. A Certified Management Accountant is employed by a business firm or a not-for-profit organization, and deal with private accounting.
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.
Knowledge can give you a real advantage. To make sure you're fully informed about Accountancy, keep reading.
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.
If you've picked some pointers about Accountancy that you can put into action, then by all means, do so. You won't really be able to gain any benefits from your new knowledge if you don't use it.
Menu
More...
About The California Board Of AccountancyAll About CMAs
All About Tax Deductions
All About Tax Planning
All About UK Accountancy
Are You Ready For Tax Day?
Different Types Of Accountants
How CPAs Can Help You
How To Choose Accountancy Software For Your Business
How To Draft An Agreement With Your CPA
How To Find A Good Accountant
How To Receive The Best Service From Your Accountant
How To Become A CPA
How To Prepare For A Tax Audit
How To Use Links Effectively
Starting A Business Accounting
The Role And Benefits Of Accountancy
The Role And Operations Of Government Accountants
When To Use A Certified Public Accountant
Where To Find Certified Public Accountants
Why Choose A Career In Accounting?
Why Regulate Accounting?
Why Use Outsourced Accounting?
More... Where To Find Certified Public Accountants So, you have decided you need the assistance of Certified Public.. How To Prepare For A Tax Audit There is no reason to be afraid of an audit if you have been.. All About Tax Deductions Income tax time can be a dreadful season if you are not aware of all.. How To Receive The Best Service From Your Accountant Your accountant plays a very important role in your life. This is why it is.. |
|
|
Related News:
|