Pursuing the CMA certification can help prepare you for the future of accounting, providing you with timely skills and credentials that allow you to plot a career trajectory in lockstep with the industry's evolution.
There has been a worldwide increase in the number of CMA certifications, with a 14% compound annual growth rate in CMA candidates over the last 10 years. The credential focuses on the corporate accounting skills needed to compete in today’s rapidly evolving business landscape. As data and analytics become critical for long-term success, employers are increasingly looking toward CMAs for accurate forecasting and data-driven decision-making that sets the stage for future profits.
In this blog, we’ll take a deeper look at the CMA and how it can provide you with a bridge to the future of accounting.
What is the CMA?
Before we examine how CMA certification can help prepare you for the future of the accounting industry, let’s briefly review what the credential means and entails.
The CMA certification is a professional credential offered through the Institute of Management Accountants (IMA) that demonstrates expertise in management accounting and corporate finance. There are many reasons to become a CMA. Most importantly, your CMA credential demonstrates knowledge and skills in both accounting and finance, enhancing your opportunities within the professional community.
How does the CMA prepare you for the future of accounting?
Let’s take a look at two ways the CMA can benefit your career—today and as the future of accounting unfolds.
Earning your CMA helps you build desirable, critical skills
Preparing for the CMA certification can broaden your knowledge of management accounting topics, particularly those of emerging importance, such as technology, data, and analytics.
The CMA Exam is regularly updated to reflect the industry as it transforms. For example, in 2019, the CMA Exam was updated to include technology and analytics, based on the growing use of those skills in the professional accounting world. That means that employers are likely to view CMAs, particularly those who recently passed the exam, as finance and accounting experts who are up to speed on the latest advancements in technology, data, and analytics—and who can provide them with long-term value in applying those skills to the business.
Many CMAs deal with preparing data in a digestible way for executive boards and other important company personnel. As a CMA, you'll also contribute to larger business objectives and will likely analyze external trends and figures, a task that is usually reserved for upper-level accountants. Performing these tasks will require you to develop data competency and learn to use advanced analytics platforms, skills that are vital to financial success today and will only grow more important in the future.
The CMA can also help you prepare for the digitalization of the industry. Here are a few areas in the digital world that you can pursue with a CMA certification.
Earning your CMA can accelerate your professional advancement
When recruiting for high-level positions, employers often look for candidates with leadership and strategic decision-making skills. CMAs are increasingly valuable to employers who are facing a shortage of corporate finance experts who can pull actionable insights from large data sets and use that information to improve forecasting and inform future business strategies.2
That means earning your CMA certification can help “future-proof” your resume for future accounting jobs, providing you with a critical differentiation from other job candidates and establishing you as a professional with highly desirable skills that will become increasingly critical in the years to come.
As the disciplines of accounting, finance, and consulting continue to overlap, the CMA credential helps establish you as a qualified expert across all of these disciplines—while enabling you to build (and maintain) the skills needed to excel in these areas now and into the future.
Earning your CMA also helps you become a vital component of your organization’s infrastructure and leadership. Most CMAs work with the upper-level management staff at a given firm or company and tend to work closely with C-suite executives and managers to provide financial guidance. As an essential contributor to the business at a high level, you’re likely to discover greater job security and more opportunities for advancement.
Thrive in the future of the accounting industry with the CMA and Becker
Employers are increasingly seeking qualified professionals with proven expertise in accounting, finance, and consulting—and who can leverage technology, data, and analytics to bring these disciplines together in a holistic, strategic way. Earning your CMA goes a long way toward establishing yourself as precisely the type of candidate they’re looking for. It demonstrates that you possess the skills, intelligence, and ambition to provide them with the services they need— now and for years to come as the industry continues to evolve.
Becker’s CMA Exam prep courses are constantly updated to provide you with the latest information you need and to reflect the current exam's topics and questions. Our diverse packages and solutions can help candidates at nearly every skill level study at their own pace and build knowledge according to their unique learning styles.
To demonstrate our confidence, we’re fully committed to what we call “The Becker Promise®,” which states that we will provide you with the greatest opportunity to pass the CMA Exam. And, in the unfortunate event that you don’t pass, you can repeat our review courses at no additional cost, so long as you meet certain eligibility requirements.
Learn more about how the CMA can bridge your career toward the future of accounting—and how Becker CMA Exam prep can help you gain the peace of mind of knowing you’re fully prepared on exam day.
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