DUAL CERTIFICATION: IT CAN BE DONE Hargadon, Joseph M; Fuller, Lori R
Strategic finance (Montvale, N.J.),
08/2019, Letnik:
101, Številka:
2
Magazine Article
...the March 2019 IMA Global Salary Survey (bit.ly/30AsjZt) found that accounting certification in general- particularly dual accounting certification-provides financial rewards. ...the student ...candidate will: * Take one exam part at a time to keep the workload manageable and increase the chance for success on that part. * Use some form of CMA and CPA review preparation program and materials (such as a review course, software, etc.) in addition to coursework. * Take additional finance credits and/or minor in finance. * Take a separate business analytics course and an additional IT course, if available. * Complete the CMA exam while still a student. In June, the candidate uses the CPA review program materials to prepare for the Business Environment and Concepts (BEC) section of the CPA exam. Because the candidate recently studied for the CMA exam, the preparation time for BEC is considerably shortened since financial management, information technology, and operations management (representing 41%-71% of the BEC section) were already covered and tested in the CMA exam. ...those students who successfully follow our plan will have passed the CMA exam before they start their employment or graduate studies, making them more valuable to their employer, which leads to a higher demand for the institution's accounting graduates.
DUAL CERTIFICATION: It's a Win-win Hargadon, Joseph M; Fuller, Lori R
Strategic finance (Montvale, N.J.),
03/2018, Letnik:
99, Številka:
9
Magazine Article
...the student candidate will: * Take one exam part at a time to keep the workload manageable and increase the chance for success on that particular part. * Use some form of CMA and CPA review ...preparation program and materials (such as a review course, software, etc.) in addition to coursework. * Take additional finance credits and/or minor in finance. * Complete the CMA exam while still a student. ...we expect the total study time to be less than it would otherwise be if the student took these two parts after graduation. 5 During the second semester of the student's senior year, the student schedules tax, business law, and advanced financial accounting courses. Because the candidate recently studied for the CMA exam, the preparation time for BEC is considerably shortened since financial management, information systems, and operations management (representing 41%-71% of the BEC section) were already covered and tested on the CMA exam. ...those students who successfully follow our plan will have passed the CMA exam before they start their employment or graduate studies, making them more valuable to their employer, which leads to a higher demand for the institution's accounting graduates.
Once again, we've limited our focus to the dual CMA/CPA certification because: * Both permit candidates to take one section (part) at a time. * Both are computer-based, using Prometric testing sites. ......the modes of delivery and assessment are similar. * Both exams provide for flexible scheduling (see Table 1). * Both require qualifying work experience to earn the designation. ...in most licensing jurisdictions, the CPA candidate must complete a bachelor's degree (with the requisite number of accounting and business-related credits) to take the CPA exam. ...undergraduates can't sit for the CPA exam. ...because state rules change, students should regularly verify CPA state licensing requirements with the National Association of State Boards of Accountancy. ...the student candidate will: * Take one exam part at a time to keep the workload manageable and increase the chances for success on that part. * Use some form of a CMA and CPA review preparation program and materials (such as a review course, software, etc.) in addition to coursework. * Take additional finance credits and/or minor in finance. * Take a separate business analytics course and an additional IT course if available.
DOUBLE UP AND STAND OUT Hargadon, Joseph M; Fuller, Lori R
Strategic finance (Montvale, N.J.),
08/2015, Letnik:
97, Številka:
2
Magazine Article
The business world is dynamic and ever changing, and the competition for jobs is strong. One way professionals can stand out from the crowd and demonstrate their expertise, skills, and experience is ...through professional certification. For accounting and finance professionals in the US, two of the most relevant certifications are the Certified Management Accountant (CMA) and Certified Public Accountant (CPA). Both the ICMA and AICPA continue to work to ensure that their relevant and rigorous professional examination and certification processes keep pace with the increased expectations and role expansions placed on today's and tomorrow's accounting and finance professionals. The ICMA, for instance, recently approved and implemented changes in select content coverage and topical weighting of the two-part CMA exam. These changes, which became effective Jan 1, 2015, are the stimulus and motivation for this article. This updated nine-step approach is designed to show students (and accounting educators) that dual certification is very attainable.
Take Less-And Earn More Hargadon, Joseph M; Fuller, Lori R
Strategic finance (Montvale, N.J.),
03/2010, Letnik:
91, Številka:
9
Magazine Article
Given the ever-changing accounting profession, accountants knew it would be only a matter of time before Certified Public Accountant (CPA) and Certified Management Accountant (CMA), the two ...long-standing, highly regarded professional certification exams, would make changes. The key changes in the CPA exam relate to the specific content and skills coverage, including International Financial Reporting Standards, within the current four-section format. The new nine-step streamlined approach is designed to show students that dual certification is very attainable. These include: 1. Over the course of the junior-year semesters, a student completes the intermediate accounting sequence, corporate finance, an information systems course, operations management, and, if possible, a finance elective. 2. In June, the candidate uses the CPA program materials to prepare for the Business Environment and Concepts section of the CPA exam. 3. For the remainder of July and the beginning of August, the candidate uses the CPA program material for the Regulation section.
Take Two Hargadon, Joseph M; Fuller, Lori R
Strategic finance (Montvale, N.J.),
04/2007, Letnik:
88, Številka:
10
Magazine Article
The designation of Certified Public Accountant (CPA) is undoubtedly the most widely recognized credential associated with accountants. In the most recent salary survey of members of the Institute of ...Management Accountants, respondents holding both the CPA and Certified Management Accountant (CMA) certifications reported greater average annual salary ($104,547) than those holding only one credential: CPA ($103,287) or CMA ($97,509). Respondents who had neither certification reported an average yearly salary of $76,316. By earning both the CPA and CMA credentials, a candidate signals to the market his/her deep commitment to professionalism and ethics, advanced motivation and dedication to continuing professional education, and a broad expertise in accounting and related business topics. Academic institutions should consider providing incentive to their "best and brightest" by offering to underwrite the exam costs. This institutional support could "pay off" in that improved success rates on the exam are often cited as outcome-based assessment criteria for undergraduate accounting programs.
