Accounting Certifications
Are you interested in or currently pursuing a career in accounting? Maybe you are already a working professional? If you enjoy working with financial information and records, this is likely an ideal profession for you. Because most industries require some level of financial oversight, accountants are usually able to find work easily.
While a degree in accounting can often help you secure an entry-level position in the field, completing one or more certifications can provide significant opportunities for future career advancement. In fact, there are numerous benefits to earning certifications as an accounting professional. Not only will you be able to specialize your skills and offer more sought-after services, but you can also move into positions that offer higher pay. This is also a good option for individuals interested in moving into an accounting career from a different field.
Introduction or Add-On Accounting Certifications
It is important to realize there are many different certifications available for accountants. Depending on your career goals, you will be able to find a certification appropriate for every level of employment within this field. Those just beginning their careers will find earning one or more certifications is a great way to stand out among other applicants. This can be particularly helpful for recent graduates trying to get their foot in the door. Employers for entry-level positions often give preference to candidates with the following intro and add-on accounting certifications:
Certified Bookkeeper (CB)
Degree Necessary:
No degree is necessary but, depending on the certifying body, applicants may need to complete a course or have two years of full-time bookkeeping experience.
Number of Tests:
A single test, but some exams may include multiple parts.
Exam Dates:
Applicants have one year to pass the exam after registering.
Exam Length:
The length of exam varies depending on the certifying body, ranging from 50 multiple choice questions and simulations to a four-part examination with timed and untimed segments.
Cost:
Depending on the certifying body, the cost of this certification ranges between $225 and $650. Study materials and test retakes will incur additional fees. Discounts are available for organization members.
Expected Salary:
$50,000
Certified bookkeepers have demonstrated their knowledge, skills, and ability to perform important financial tasks. There are two primary nationally recognized programs offering certification: National Association of Certified Public Bookkeepers (NACPB) and the American Institute of Professional Bookkeeping (AIPB). These certifications can be helpful when applying for a new job or securing freelance clients. Continuing education is required to maintain certification.
Certified Internal Auditor (CIA)
Degree Necessary:
You’ll need either a master’s degree with 12 months of relevant work experience, a bachelor’s degree with 24 months of relevant work experience, or an associate degree with 60 months of relevant work experience.
Number of Tests:
There is one test with three parts – Essential of Internal Auditing, Practice of Internal Auditing, and Business Knowledge for Internal Auditing.
Exam Dates:
The exam is available through computer-based testing, allowing for year-round testing at hundreds of locations worldwide.
Exam Length:
Test takers have around two hours to complete 100 questions and two and a half hours to complete 125 questions.
Cost:
Non-members pay $1,315, including the application fee for all three parts of the exam. Members pay $855, while students pay $655.
Expected Salary:
$85,000
The Institute of Internal Auditors (IIA) administers the Certified Internal Auditor (CIA) examination and grants the CIA designation. Certified Internal Auditors objectively analyze and evaluate company financials and business operations, identifying problems and ensuring compliance with company, industry, and government regulations. There are many benefits to earning this international credential including increased earning potential, more job security, opportunities for professional advancement, and focused skills improvement.
3. Accredited in Business Valuation (ABV)
Degree Necessary:
You’ll need a bachelor’s degree or equivalent and to complete the Code of Professional Conduct and Standards Education for Finance Professionals course provided by the Association of International Certified Professional Accountants (AICPA).
Number of Tests:
There is one test with two modules – Foundation of Valuation Theory and Implementation of Valuation Methods.
Exam Dates:
The instructions on how to schedule the exam are sent via email approximately two weeks after registration. The test can be taken in-person at one of 300 locations nationwide or online in a remotely-proctored environment.
Exam Length:
Both modules last three hours and must be passed within 12 months.
Cost:
$380, plus yearly dues. Multiple credential discounts are available.
Expected Salary:
$86,000
Only members of the Association of International Certified Professional Accountants (AICPA) can apply for and maintain the Accredited in Business Valuation (ABV) credential. Accredited in Business Valuation professionals have the competencies to provide premier valuation services in areas such as tax, litigation, financial reporting, transactions, and ESOPs. There are many benefits to earning this credential including access to other valuation professionals with similar interests and practices, as well as relevant practice aids, webcasts, newsletters, and discounts on continuing professional development.
High-Level Accounting Certifications to Consider
In addition to the certifications mentioned above, there are numerous high-level credentials that may be worth considering. While entry-level options tend to be broader, these certifications focus on specialized skills within the industry. The unique knowledge gained may mean few positions are available, but the employment opportunities that are available do usually lead to higher salaries. It is also worth noting that many high-level certifications are more difficult to attain. Seasoned professionals may benefit from exploring one or more of the following credentials:
Enrolled Agent (EA)
Degree Necessary:
No degree necessary.
Number of Tests:
One test with three parts – Individuals, Businesses, and Representation, Practices, and Procedures.
Exam Dates:
The test is offered from May 1 to the end of February of the following year, but is not offered during the annual blackout period in March and April. Examinations can be scheduled at any time online.
Exam Length:
Each part of the exam contains 100 questions and must be completed within a three and a half hour time period.
Cost:
$546 covers the cost to take all three parts of the exam.
Expected Salary:
$49,000
The Enrolled Agent (EA) credential is provided by the Internal Revenue Service (IRS) Only Enrolled Agents have the privilege of representing taxpayers before the IRS. It is the highest credential the IRS awards and recipients must adhere to ethical standards and complete 72 hours of continuing education courses every three years. There are many benefits to earning this credential, including unlimited practice rights. Enrolled Agents are unrestricted as to which taxpayers they can represent, what types of matters they can handle, and which IRS offices they can address.
Chartered Alternative Investment Analyst (CAIA)
Degree Necessary:
To earn this certification, you’ll need a bachelor’s degree with one year of full-time professional experience or four years of full-time professional experience.
Number of Tests:
There are two tests – Level I and Level II.
Exam Dates:
Exams are offered twice each year, in September and late February/March. The Level I and Level II exams cannot be taken within the same exam window.
Exam Length:
Exams are composed of 100 to 200 multiple choice questions.
Cost:
$1,250 for each test, plus annual membership dues. Early registration is $100 less. Retaking tests costs $450.
Expected Salary:
$98,000
Sponsored by the Chartered Alternative Investment Analyst (ACIA) Association the Chartered Alternative Investment Analyst (CAIA) is the only globally-recognized educational standard for individuals specializing in alternative investments. Professionals manage, analyze, distribute, and/or regulate investments. A major benefit is learning what is needed to be successful and credible in alternatives.
Certified Financial Planner (CFP)
Degree Necessary:
For this certification, you’ll need a bachelor’s degree or higher in any discipline from an accredited college or university.
Number of Tests:
There is only one test.
Exam Dates:
Candidates schedule their exam date, test site location, and start time after submitting the exam application online.
Exam Length:
The exam consists of 170 multiple-choice questions that must be completed within two three-hour sessions over one day.
Cost:
The exam costs $825 to take, but an early bird rate of $725 is available until six weeks before the registration deadline.
Expected Salary:
$67,000
The Certified Financial Planner (CFP) credential is overseen by the Certified Financial Planner Board of Standards, Inc. Certified Financial Planners are rigorously trained in 72 areas of financial expertise and know how to assist with financial planning, taxes, insurance, estate planning, and retirement. Benefits of earning this certification include earning a mark of excellence in the financial industry and becoming highly valued by financial firms and consumers alike.
Chartered Global Management Accountant (CGMA)
Degree Necessary:
There is no degree necessary to earn this certificate, but candidates must complete the Chartered Global Management Accountant Finance Leadership Program.
Number of Tests:
There are two tests to take, one after the Management level and the second after the Strategic level of the program.
Exam Dates:
Both exams have testing windows in February, May, August, and November and are administered by Pearson VUE at one of their over 2,000 facilities in the United States.
Exam Length:
Each exam is three hours long and includes three to five tasks related to a business case study.
Cost:
The cost is $4,395 for all three levels of the program, although it is possible to sign up for one or two of the levels individually.
Expected Salary:
$125,000
The Chartered Global Management Accountant (CGMA) designation is overseen by the Association of International Certified Professional Accountants (AICPA) Chartered Global Management Accountants are trusted, expert strategists connecting all aspects of business and are proficient in finance, operations, strategy, and management. Benefits of earning this certification include developing an understanding of how different aspects of business come together, demonstrating an ability to look to the future of finance, and illustrating an ability to provide objective views.
Financial Modeling and Valuation Analyst (FMVA)
Degree Necessary:
You’ll need a bachelor’s degree to earn this certification.
Number of Tests:
Tests will likely be included in each of the nine required courses or three elective courses.
Exam Dates:
Your exam date will depend on your enrollment date and coursework pacing.
Exam Length:
The length of exams will vary by class.
Cost:
For all courses, costs will run around $497 for self-study and up to $847 for full-immersion enrollment.
Expected Salary:
$121,000
The Financial Modeling & Valuation Analyst (FMVA) designation is overseen by the Corporate Finance Institute (CFI) Financial Modeling & Valuation Analysts often work in investment banking research, equity research, and corporate development. They are proficient with financial modeling, sensitivity analysis, and strategy. Benefits of this program include boosting knowledge and skills, studying online at any pace, and becoming certified in only a few months.
Financial Risk Manager (FRM)
Degree Necessary:
Anyone with two years of professional full-time financial risk management work experience can register to take the exam.
Number of Tests:
There are two tests – Exam Part I and Exam Part II.
Exam Dates:
Both tests are typically offered twice a year on the third Saturday of May and the third Saturday of November.
Exam Length:
Candidates have four hours to complete between 80 and 100 multiple-choice questions. Both exams must be completed within four years of each other.
Cost:
The standard cost of Exam Part I is $550 and Exam Part II is $475. Early registration costs $125 less, but late registration costs $175 more.
Expected Salary:
$99,000
The Financial Risk Manager (FRM) designation is overseen by the Global Association of Risk Professionals (GARP) Financial Risk Managers identify and analyze potential threats to assets, earning capacity, and/or the overall success of a business. Benefits of earning this credential include standing out among financial professionals, proving knowledge and skills meet the latest international standards, and connecting to an elite network of expert risk professionals employed by some of the world’s leading institutions.
Certified Fraud Examiner (CFE)
Degree Necessary:
You’ll need a bachelor’s degree or equivalent from an institution of higher learning to earn this certification. Two years of fraud-related professional experience can be substituted for each year of academic study.
Number of Tests:
There is only one test to take, with four sections.
Exam Dates:
The exam can be taken at any time convenient to the test-taker.
Exam Length:
Each of the four exam sections must be completed within 24 hours of unlocking it and must be done in a single sitting.
Cost:
The cost for the exam is $400, or $300 for those who purchase the CFE Exam Prep Course.
Expected Salary:
$82,000
The Certified Fraud Examiner (CFE) designation is overseen by Association of Certified Fraud Examiners, Inc. (ACFE) All candidates must be an ACFE member. Certified Fraud Examiners uncover, prevent, and deter fraud. This often entails studying employer financial records for discrepancies and collaborating with law enforcement when necessary. Benefits of earning this credential include receiving a higher salary, increased job security, and distinction among other job candidates.
This designation is implied for those that desire a career in the money as well as economic investment world. Most CFAs are funding professionals servicing Wall surface area Road or for a bush fund/investment fund, yet the certification has duties past firm monitoring. Although the CFA is not as prominent as the Certified Public Accountant in the UNITED STATES, it is among one of one of the most internationally well-known audit categories.
It helps train people to think analytically about cash, investing, and also just exactly how business runs. This makes CFAs wonderful controllers in addition to CFOs. To end up being a CFA, you need to pass the CFA exam that is supplied by the CFA Institute. The assessment treatment is a lot longer than the CPA exam because of the reality that it is just reviewed one to 2 times annual relying on the level you are relaxing for.
If you are aiming to obtain right into the world of money and also investing, this is a fantastic qualification for you. If you wish to do tax prep job or bookkeeping, you would absolutely be better off with a Certified Public Accountant.
Our new Constitution is now established, in addition to having a look that assures permanency; however in this globe absolutely nothing can be claimed to be particular, except death as well as likewise tax obligations. This quote is long lasting, just like tax obligations. Accounting/Auditing is a whole lot greater than simply tax obligations, yet its various appropriate credentials will definitely lead to a regular job, over regular pay.
The qualifications expense cash money with researching along with test prices, however these investments will pay long-term incentives. This list pamphlets what's asked for to get approved for the different certifications, exactly just how much they'll set you back, what the work market and likewise Labor Bureau forecasts for the areas are, and likewise a lot more. The audit occupation of your future lies ahead: Interior auditors are employees charged with offering independent, objective analysis on a firm's funds, organisation administration (the business's guidelines, techniques, processes), and also organisation procedures.
Those seeking to gain this certification should happen participants of the Institute of Internal Auditors. There you can find comprehensive information concerning various other useful certifications, the tests which connect certification, important programs, and a detailed break down of the costs related to achieving this qualification (they vary based on a large array of factors, however costs range in between $1,000-5,000 when test expenses, research study items as well as different other expenses are thought of).
There are a great deal of subsections of Cpa jobs, containing consulting, forensic accounting, ecological bookkeeping, internal bookkeeping, tax obligation as well as additional economic prep work, and a great deal much more. Among one of the most macro descriptions of the task is threefold. Certified Public Accountant's evaluate as well as confirm to the high quality of monetary disclosures, guard against misstatements, as well as make certain organizations/individuals are complying with typically approved accounting principles (GAAP).
CFE's discover the internal operations of bookkeeping and also accounting, criminology/sociology pertinent to rip-offs, fraudulence examination, forensic approaches, loss avoidance, deceit regulation, the ACFE code of principles, and much more. The treatment for ending up being a CFE generally entails a Bachelor's in a relevant area (solution administration, bookkeeping, and so on) to develop fundamental abilities, ending up participating in the ACFE, then taking the qualification exam in addition to passing.
It is established for IT auditors, audit managers, experts as well as additionally protection experts. The CISA evaluation is exceptionally challenging, and additionally takes 4 hours to finish. It's 150 multiple option questions, some worth even more than others. CISA proprietors need to enlighten 20 hrs each year, and also 120 in a three-year period to keep their certification.
Registered Professionals are federally-authorized tax responsibility professionals who are accredited by the UNITED STATE Department of the Treasury to represent taxpayers managing an Inner Profits Service examination/audits, collection, or appeals. This positioning incorporates the proficiency of a tax specialist with the ethical assumptions of a legal rep to assist individuals or businesses by means of their communications with the Irs.
Candidates should additionally think of paying in between $470 for and on the web self-study program to $1,110 for a more thorough on the internet self-study program plus books in addition to accessibility to an internet examination bank. CPPs are certified after revealing their payroll experience as well as experience. Before taking the CPP examination, candidates will certainly need to be an exercising payroll expert for 3 of the last 5 years before they take the evaluation, be used for 2 years and also take a variety of courses, be utilized for 18 months, get a different however comparable certification as well as additionally take training courses.
Exercising pay-roll experts are those running in Payroll Manufacturing, Pay-roll Coverage, Pay-roll Accounting, Pay-roll Equipments, Pay-roll Taxes, Pay-roll Administration or Pay-roll Education/Consulting. You'll need to comprehend pay-roll features and surveillance. CPPs have experience and likewise capabilities in taxes, advantages, consistency problems, computation methods, pay-roll systems, audit, management, administration (plans, therapies as well as auditing).
It is established for IT auditors, audit supervisors, specialists as well as also defense experts. The CISA examination is remarkably challenging, and additionally takes four hours to complete. It's 150 multiple option questions, some worth much more than others. CISA owners need to educate 20 hours yearly, as well as 120 in a three-year duration to keep their accreditation.
Monitoring accountants find out the condition and success of a company or company. Licensed Management Accounting Professionals (CMA), is comparable to being a Certified Public Accountant, with more focus on rate accounting, financial planning, and likewise checking issues. CMAs have a professional understanding of financial preparation, analysis, control, decision aid, as well as also specialist values. CMAs benefit all type of companies: manufacturing, public, special, charitable, scholastic facilities, government governments, and also multinationals.
They integrate thorough audit capabilities and essential tax obligation principles with a macro understanding of the business they work for and also leadership/management abilities to encourage choice makers to transform their searchings for right into plan modification. The regular wage for individuals that hold a CMA is $74,410. CMAs operate as Group Accounting specialists, Rate Accountants, Inner Auditors, Investing Plan Specialists, Economist, Elderly Accountants, Financing Managers, Controllers, Vice Presidents, Money Treasurers, CFOs, Chief executive officers along with even more.
Prospects ought to additionally think about paying in between $470 for an online self-study program to $1,110 for a much more complete on the net self-study program plus books as well as accessibility to an on-line test financial institution. CPPs are certified after revealing their payroll know-how as well as experience. Before taking the CPP test, candidates will absolutely need to be a practicing pay-roll expert for 3 of the last 5 years before they take the exam, be utilized for 2 years and also take a variety of courses, be used for 18 months, obtain a different however similar qualification as well as additionally take training courses.
Exercising pay-roll specialists are those running in Pay-roll Manufacturing, Pay-roll Coverage, Pay-roll Accounting, Payroll Equipment, Pay-roll Tax, Pay-roll Management or Pay-roll Education/Consulting. You'll require to comprehend pay-roll features as well as tracking. CPPs have experience as well as capacities in tax obligations, benefits, conformity issues, calculation methods, payroll systems, audit, administration, management (plans, treatments and also bookkeeping).
Online Public Accounting Certification Programs - A number of online schools, colleges and universities offer certificate programs to take online in the field of public accounting. These certificate programs can provide the individual with the necessary training to start an online career in the field. An online certificate program in this field can help individuals earn their certificate in an accelerated manner while still being able to work and complete their job responsibilities in a timely manner. Some of these certificate programs allow students to earn their certification in as little as a year.
Online Certified Public Accountant (OCA) Programs - An OCA is an individual that has earned an online accounting certification and is able to apply for employment in the public accounting field. They will be required to show proof of their educational credentials in order to take these classes. Students who have earned their OCA certification can apply for employment in the field immediately, after completing the course and are accepted into the program.
Online Certified Public Accountant (CAP) - An online CAP is an individual who has earned their online accounting certification and can apply for employment in the public accounting field. They will need to show proof of their educational credentials in order to take the online classes, but they will not be required to show their credentials before applying for employment. These online courses will be completed within the privacy of a classroom setting and students will not be required to provide a portfolio or any other documentation of their work to prove their work.
Online Financial Analyst Certification - If you enjoy working with a variety of people and have knowledge of financial matters, you may want to consider taking online classes to get your online financial analyst certification. You will earn your certification through an online course in finance, which helps you prepare for the types of jobs that you will face in the future in the public accounting field. These online courses teach you how to assess, manage, and analyze the finances of various types of businesses.
Online Business Certificate Programs - Business degree online programs are also available to help individuals advance their education by earning their certificates in business administration. Courses can be completed in a single or multi-year program that teaches you about the business world.
Bachelor of Science in Accounting (BSAA) - This program is designed to prepare students for careers in the public accounting field. They will teach students how to conduct financial records, process and organize data, analyze financial data, and perform basic accounting functions. The online Bachelor of Science in Accounting program allows students to earn their degree in two years, and you can finish the course in full time or part time.
Associate Degree in Accounting (ADaC) - An ADaC is an ideal program for someone who wants to begin a career in public accounting. It will prepare you for employment in a variety of fields including banking, insurance, government, or private organizations.
An Associate Degree in Accounting (ADaC) programs will prepare you for jobs such as auditor, bookkeeper, financial analyst, bookkeepers, bookkeeper assistant, bookkeeper or payroll clerk. As you complete your classes, you will learn how to do your job and become familiar with the different types of accounts receivable, accounts payable, invoices and accounts receivable/payables. You will also learn about payroll systems and the use of ledgers.
Top Sought After Accounting Certifications
Many of the entry-level and high-level credentials mentioned above can be extremely helpful in propelling a career forward. There are, however, a few certifications that are more sought after than all others in the field. Without one or more of the following credentials, it is impossible to secure many of the top jobs in accounting.
Certified Public Accountant (CPA)
Degree Necessary:
In most cases, you’ll need a minimum of a bachelor’s degree in accounting or a related field from an accredited college or university in order to earn this certification.
Number of Tests:
There is one test for this certification, with four sections – Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR), and Regulation (REG).
Exam Dates:
The exam can be taken during any one of four testing windows throughout the year.
Exam Length:
All exam sections are four hours in length and must be completed within 18 months of each other.
Cost:
Exam fees depend on the jurisdiction where licensure is desired.
Expected Salary:
$66,000
The Certified Public Accountant (CPA) designation is managed by each state’s board of accountancy independently. Most states have similar application requirements, including the passing of the Uniform CPA Examination. Certified Public Accountants perform financial statement audits and other attestation services to keep investors informed. Benefits of earning this credential include increased employment opportunities, higher salaries, better benefits, job stability, and industry respect.
Certified Management Accountant (CMA)
Degree Necessary:
For this certification, you’ll need a bachelor’s degree or professional accounting certification, plus two years of work experience.
Number of Tests:
There is only one test with two parts for this certification – Financial Planning, Performance and Analytics and Strategic Financial Management.
Exam Dates:
Testing windows are offered in January and February, May and June, and September and October.
Exam Length:
Each part consists of 100 multiple-choice questions and two essay questions that must be completed within four hours.
Cost:
Each part of the test is $415 each.
Expected Salary:
$88,000
The Certified Management Accountant (CMA) designation is overseen by Institute of Management Accountants, Inc. (IMA) Certified Management Accountants possess significant knowledge in financial planning, analysis, control, decision support, and professional ethics. Benefits of earning this credential include more opportunities within the business world, career advancement, increased earning potential, and more credibility in the field.
Chartered Financial Analyst (CFA)
Degree Necessary:
You’ll need a bachelor’s degree or four years of full-time work experience and/or formal education to earn this certification. Students in their final year can also apply.
Number of Tests:
There are three exams, each offered after a level of program curriculum.
Exam Dates:
The Level I Exam is available in December, but computer-based versions are also available in February. Level II and III exams can be taken in June.
Exam Length:
The exams last between two and three hours and include multiple-choice questions, vignettes, or both.
Cost:
Early registration is $700, standard registration is $1,000, and late registration is $1,450.
Expected Salary:
$93,000
The Chartered Financial Analyst (CFA) designation is overseen by Chartered Financial Analyst Institute, Inc. Chartered Financial Analysts monitor and help improve financial performance for their clients. This includes tracking status’, analyzing plans, and reconciling transactions. Benefits of earning this credential are better job prospects, higher pay potential, more credibility, networking opportunities, and less time in an academic setting.
Certified Government Financial Manager (CGFM)
Degree Necessary:
For this certificate, you’ll need a bachelor’s degree in any subject area from an accredited United States college or university and at least two years of professional experience in government financial management.
Number of Tests:
There are three comprehensive exams you must pass.
Exam Dates:
Exams are administered year-round in a computerized format. Candidates can schedule appointments online or by phone.
Exam Length:
Exams are approximately two hours long and consist of 115 questions.
Cost:
The cost is currently $125 per exam.
Expected Salary:
$89,000
The Certified Government Financial Manager (CGFM) designation is overseen by the Association of Government Accountants (AGA) Certified Government Financial Managers demonstrate competency in government accounting, auditing, financial reporting, internal controls, and budgeting at the federal, state, and local levels. Benefits of earning this credential include recognition of specialized knowledge and experience, as well as expanded career opportunities.