CPA vs CMA – The Difference Between CPA & CMA

Introduction

Any candidate looking to make a career in finance and/or accounting would be spoilt for choices on offer in form of US CPA and CMA course. However, it can get quite confusing for anyone to choose the most appropriate one. The decision becomes critical when it is about your career and future of your family.

We at VGLD are here to guide you in taking the best decision for your future! We will start with taking a quick look at high-level differences followed by a detailed discussion.

US CPA VS US CMA Quick Overview

Below are the key differences between these three courses to give a high-level overview to help facilitate some quick decision-making.

NatureUS CPAUS CMA
Number of papers42
Course duration1.5 years0.5-1 years
Frequency of examsQuarterlyThree times a year

But do not take a decision in haste. We at VGLD, would rather suggest you to go to below detailed differences before taking a final decision.

Detailed Differences

In addition to above highlighted differences, we will now closely look at each of the key differentiators between these courses so that one can make an informed decision.

  • Papers – In order to obtain a full-fledged degree (required to practice profession), a candidate must clear requirements in all the below-mentioned levels. –

Assuming no exemptions are available, a candidate must pass the below sets of papers to be eligible for a full accreditation. These papers are carefully curated to test one’s academic & application skills in fields like accounting, taxation, law, audit etc.

US CPAUS CMA
Auditing & Attestation (AUD)Financial Planning, Performance and Analytics
Business Environment & Concepts (BEC)Strategic Financial Management
Financial Accounting & Reporting (FAR) 
Regulation (REG) 
  • Eligibility – Each of these courses do not limit the intake of students from other streams like science, arts, and others. In fact, a basic graduation in any field gives you a good playing field.
US CPAUS CMA
120 credits for qualificationBachelor’s degree or Professional Certification
150 credits for license 
  • Practical Training/Experience – Each of these courses require a candidate to undergo few years of work experience/practical training to ensure that the candidates are fully-prepared to handle real-world pressure and challenges.
US CPAUS CMA
2 years of work experience2 years of work experience
Anytime – during or after examsPrior to or within seven years of passing the examination

  • Frequency of examinations – With most students now opting to study and work simultaneously, an increased frequency in number of available terms adds to the flexibility and ease. Both CPA & US CMA score in this section by offering students the option to appear in an exam over 3 times in a calendar year as per their order of choice.
US CPAUS CMA
QuarterlyThrice a year
Testing windows Jan-MarApr-JuneJuly-SepOct-DecTesting windows: Jan-FebMay-JuneSep-Oct
  • Format of examinations – Both these courses offer a similar pattern of testing students.
US CPAUS CMA
Multiple Choice Questions (MCQ)Multiple Choice Questions (MCQ)
Short-task based simulationsEssays
Written communication 
50:50 weightage to MCQ & other questions75% MCQs and 25% essay
  • Career Paths – Both the courses provide you with opportunities of reaching at top of the ladder. Depending on the career choice, one should pay careful consideration to this as it goes a long way in your career
US CPAUS CMA
Assurance ServicesChief Financial Controller
Foreign AccountingFinancial Manager
Business and Management ConsultingFinancial & Planning Analyst
Internal and External AuditingCost Accountant
Consulting ServicesChief Financial Officer
Tax and Financial PlanningRisk Manager
Advisory services like tax, transaction (M&A) etc.Management Accountant
To know more details, please feel free to contact VGLD @9700000038 or mail us at 
contact@vgldi.com

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