| Topic Name: |
CFM and CMA |
| Message Name: |
some good insight |
| Date Posted: |
07/29/2003 |
| In Reply To: |
Not to be brash, but the value of these certifications is insignificant compared to the CPA. The CPA is a universally recognized title. It shows that you have demonstrated mastery of accounting subjects (or you take tests exceptionally well). The CPA just stands out on a resume.
The CMA/CFM certifications are good if you are going into industry into a smaller company. Any larger company will want a CPA, as financial reporting becomes more important with larger companies. Ideally, you get a CPA with a CMA/CFM certification. I just don't feel these titles hold much weight without a CPA attached to it.
Again, it depends on the job you will be doing for the company you want to work for. If you are concerned about how the CFM will look toward individuals as far as demonstrating fundamental accounting know-how, it really doesn't. The CFM shows that you understand general business environment and capital investment/funding decisions, but nothing about accounting and financial reporting per se.
If you have aspirations of working for a decent company (and I am not talking Fortune 500 here) the CPA is a necessity. If you look in job postings, most companies will want controllers who are CPAs, Big 4 manager experience preferred.
The CFA is completely different, and highly recommended standalone or with a CPA. |
| Message: |
If everyone was a CPA, then there would be a huge attraction for a CFA or CMA/CFM.
You have to go for what will be hot next. A CPA will always be needed and the hardest to obtain if the education req's aren't met...but, you don't need a CPA to run a company. You need financial mgmt. Accountants account for the past, managers manage the present, and officers delegate work and implement their own ideas. Being a finance (future) thinker, would see the MBA the easiest way to get to the top (officer)...a financial mgmt degree for a more well-developed financial professional...and a CPA to keep everyone in check. I don't hear of many CPA's that get stock options. Has anyone??? Accountants are never included in profits unless they have a mgmt role. Go for financial mgmt(MSF, CFM) or a personnel mgmt(MBA) degree for the great road to succe$$.
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