CMA

Can you get CPA and CMA certifications? Understanding accounting credentials

April 9, 2021

7 min read

Content Marketing Specialist

The Certified Public Accountant and Certified Management Accountant credentials may seem similar—after all, there’s only one word that’s different between them, right? But while they share some similarities, the CMA and CPA certifications cover different areas of expertise and set you up for different job opportunities.

But can you earn CPA and CMA credentials? And does it make sense to do so? Find out.

Summary

The Certified Public Accountant (CPA) credential focuses on general practices like tax and auditing, while the Certified Management Accountant (CMA) specializes in financial decision-making and reporting within a single organization. It is possible to earn both certifications, which demonstrates a high level of dedication and can broaden career opportunities, particularly for professionals looking to transition between public and internal accounting roles.

Try Becker's CPA Exam Review FREE for 14 days!

Start your free trial

CMA and CPA: What’s the difference?

The CMA and CPA are both powerful accounting certifications that can take you far in your career. But they aren’t the same thing; each certifies distinct expertise and sets you up for unique opportunities:

Certified Management Accountant (CMA): CMAs are accounting professionals who specialize in management and cost accounting, leading financial decision-making and reporting within a single organization. If you decide to pursue the CMA certification, you are likely to delve into analysis, risk management, and performance management and can work in industry roles spanning everything from financial analyst to corporate controller. Being a CMA can set you up to grow within an organization, even to C-suite leadership roles.

Certified Public Accountant (CPA): CPAs are licensed in general accounting best practices, tax, and auditing, with the four-part CPA Exam testing skills in all these areas. CPAs can work in public firms, government, private corporations, or for themselves—with legal authority in tax and public reporting that only comes with the CPA license. CPAs can grow a career as a tax specialist, auditor, or public accountant within a firm, even to the level of partner.

Can you earn CMA and CPA?

The short answer is, yes, you can earn both CMA and CPA certifications. Each have requirements you must fulfill, but there’s no reason why you can’t achieve both credentials.

Many professionals are both CMAs and CPAs. In fact, some of the knowledge and requirements are shared between the two; so once you’ve earned one, you will likely find it easier to earn the other than if you had started from nothing.

To earn a CPA license (exact requirements vary by state):

Education: At minimum, a bachelor’s degree with accounting concentration
Exam: All candidates must pass the CPA Exam
Experience: Depending on state and your education, between one and three years of professional public accountancy work
Ethics and residency: Some states require that you pass a ethics exam and/or be a resident of that state

To earn a CMA certification:

Education: Bachelor’s in accounting, finance, or related major
Exam: All candidates must pass the CMA Exam
Experience: Two consecutive years working in management accounting, financial accounting, or similar role

For both CMA and CPA, the most challenging step in earning certification is passing the respective exams. However, some of the concepts tested on the CPA Exam are also covered on the CMA Exam in more depth—giving you a sound starting place to pass the CMA Exam if you’re already a CPA, or to pass the CPA Exam if you’re a CMA.

Try Becker's CMA Exam Review FREE for 14 days!

START FREE TRIAL

Does it make sense to earn both CMA and CPA?

Since now you know how to earn both CMA and CPA credentials, your next questions may be: should I? And: why?

The answer depends on your career goals. If you aim to stay in public accounting, rise within a firm, and lead as a partner, being a CMA may not be relevant and a CPA license may be enough to reach your goals. Likewise, if you’re interested in only financial management and corporate leadership, a CPA license may not be right for you.

However, if you are currently a CPA and want to transition into an internal accounting position or financial leadership, a CMA certification will help you move away from public accounting and qualify you for the roles you’re looking to fill. The reverse is also true: if you want to transition from financial management into a wider variety of opportunities—including public accounting, tax, and audit—a CPA license is key in opening those pathways.

Both CMA and CPA are highly respected designations and require investment and hard work. Having both credentials therefore indicates that you are dedicated to the accounting profession and passionate about bettering your knowledge and skillsets, gaining you more respect and career opportunities.

Get started with Becker

Whether you’re just starting your career and don’t have any certifications, you’re a CPA aiming to also be a CMA, or a CMA working on a CPA license, Becker has the support to help you reach your goals.

Try our CPA Exam Review or CMA Exam Review FREE for 14 days. And let Becker help you go further in your career!