So I realize this is a CPA forum but I figured I would get better answers here than somewhere else. I passed all the CPA exams with pretty higher scores over the last 6 months or so. I'm currently working at a big four accounting firm doing audit work, which is something that I'm probably not going to stay in for an extended period. I'm interested in taking the CMA exam because I feel like it would help in making the transition to finance a little while down the road. Does anyone have any opinions on this? If so, do you have any opinion on what the best study guide would be?
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Jeff - another71.com
offlineadminWill it matter tangibly matter in a corporate environment if you're already a CPA? No.
Will it be highly rewarding on a personal level and challenging? Yes - probably so.
Do the CPA for your career - do the CMA for yourself is how I look at it.
Posted 2 years ago # -
Bobbins
offlineMemberGreat advice Jeff. The CPA is the most important designation an accountant can get, no matter what specific field they work in or what type of accounting they will do. However I too have thought of moving onto other areas of accounting and attaining other designations such as Certified Fraud Examiner. CPA first, then I'll move onto other things as my career and life allow.
AUD - 85 (7/24/09) BEC - 90 (8/31/09) REG - 86 (11/16/09) FAR - 82 (05/11/10) *I'm a CPA!!!Posted 2 years ago # -
Patrick909
offlineMember"Do the CPA for your career - do the CMA for yourself is how I look at it."
I agree. I may do the same. Believe it or not, I kinda miss having something to study.......and the CMA will cover most of the same topics I already studied for the CPA anyway, minus most of the boring topics I hate, like tax, pensions and consolidations.
Best of all, whenever I do choose to give the CMA a go, there won't be much pressure. That's the best kind of studying and learning; actually makes it fun.
Posted 2 years ago # -
Patrick909
offlineMemberI don't know. I studied on my own for the CPA and would probably just purchase some CMA books and go from there. How is the exam changing?
I'm sure it would get a bit more in-depth with the finance and cost accounting than the CPA exam did, but I can handle that.
I found the actual process of lugging big books to Starbucks and sitting there running through multiple choice questions kinda fun, believe it or not. I actually miss it. To me it was the pressure that made the CPA exam unbearable, not the actual work.
Posted 2 years ago # -
Jeff - another71.com
offlineadminI should follow up on my comment about the CMA not tangibly helping you in your corporate accounting gig...
I meant that the passing the CPA Exam is the quickest way to tangibly impact your current job.
However, more people than ever are taking the CPA Exam, so pretty soon, it will take more than a CPA after your name to nail your next job if you are fighting among several qualified candidates for the same position.
In this instance, the CMA is the next logical choice and trumps an MBA (in my opinion) in value.
I plan on taking up the CMA sometime in the future, but my initial interest in it was to sharpen my skills on CMA-related items, with the career-enhancing benefits being an added bonus.
With fewer jobs out there and more competition, you need to continue to differentiate yourself from the pack.
You're currently taking the CPA Exam to differentiate yourself from the non-CPAs in the workforce.
After the CPA Exam is over, you will want to consider adding on a CMA to differentiate yourself from your peers that are CPAs.
I have a good friend who is a CPA, CMA, CIA, and is now attacking his MBA.
Oh yeah - he's under 30 years old.
The days of passing the CPA Exam and then cruising for the rest of your career are over if you want to stay competitive.
Just my opinion...
Posted 2 years ago # -
Sampled
offlineMemberJeff, I appreciate your comments on this topic. Since you seem to know a lot about this type of stuff, do you have any suggestions on a study program for this exam? I used Becker for the CPA exam and had found it to be a very good program, but I haven't found anything that seems like it would as good as Becker. From what I've been able to find, there appears to be 3 CMA study courses that get much recognition: 1) The IMA materials 2) Gleim 3) HOCK International. Do you have any opinion on any of these?
Posted 2 years ago #
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