The Best Accounting + Finance Certifications
So you’re interested in leveling up your accounting or finance degree? These certifications will make you stand out, give you leverage in your earnings, + lead you to limitless opportunities in your professional + personal life.
1. Certified Public Accountant (CPA)
The CPA is the gold standard for anyone in the accounting space. Whether you want be a CEO, CFO, controller, partner at a firm, make your way to the top in the corporate or firm ladder, business owner, etc. The typical route for an accountant is working at Big 4 Accounting Firm (top 4 international accounting firms) in audit, tax, or consulting. The Big 4 Accounting Firms are Deloitte, Ernst & Young (EY), PricewaterhouseCoopers (PwC), + KPMG. The experience at a Big 4 or public accounting is invaluable + teaches you so much about yourself, your work ethic, efficiencies, + dissecting businesses from a high level perspective.
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Number of Exams: 4 exams
Sections of Exams: Financial Accounting + Reporting (FAR), Auditing + Attestation (AUD), Regulation (REG), Business Environment + Concepts (BEC)
How to Pass: Score of 75 or higher
Time Frame: Pass all 4 sections within 18 months
2. Chartered Financial Analyst (CFA)
The CFA is the gold standard in the finance space. The CFA focuses on investments, economics, portfolio management, pensions, banking, + hedge funds. Just think Wolf of Wall Street (lol) but a ton of work + studying. The usual route for those in the finance space pursuing the CFA are the large investment institutions like JP Morgan, Goldman Sachs, Morgan Stanley, + UBS.
Number of Levels: 3 Levels
Levels of Exams: Level I, Level II, Level III
How to Pass: Minimum passing score is 70% or higher
Time Frame: 4 Years to Pass
3. Certified Management Accountant (CMA)
The CMA focuses on strategic management + executive level positions. The CMA is useful for business strategy + focus on performance management decisions + forecasting.
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Number of Parts: 2 Parts
Parts of Exams: Financial Planning, Performance, and Analytics; Part 2: Strategic Financial Management
How to Pass: 360 out of 500, or 70%
Time Frame: Pass within 3 years
4. Certified Internal Auditor (CIA)
The CIA is a more focused license on all things internal audit (IA). If you see yourself doing IA, you should consider the CIA license if you’re into internal control systems, compliance, + knowing the behind the scenes of what goes on behind a business.
Number of Parts: 3 Parts
Parts of Exams: Part 1, Part 2, Part 3
How to Pass: 600 or higher
Time Frame: Pass within 3 years
5. Certified Fraud Examiner (CFE)
The CFE is basically the FBI of accounting that focuses on fraud. If you have a deep interest in all things fraud, the CFE is for you!
Number of Sections: 4 Sections
Sections of Sections: Financial Transactions + Fraud Schemes, Law, Investigation + Fraud Prevention and Deterrence
How to Pass: 75% or higher
Time Frame: Pass within 30 days
6. Enrolled Agent (EA)
The EA is the gold standard for the tax space. The EA allows you to represent clients before the IRS. If you see yourself doing tax in the long-term, I would recommend considering the EA license.
Number of Parts: 3 Parts
Parts of Exams: Part 1: Individuals; Part 2: Businesses; Part 3: Representation, Practices and Procedures
How to Pass: Score of 105 or higher
Time Frame: Pass within 2 years
7. Certified Information Systems Auditor (CISA)
The CISA is the IT of accounting + the gold standard for the information systems space. The CISA focuses on information systems in audit, assurance, control, security, cybersecurity, + governance. If you’re in public accounting under Risk Assurance, you would consider getting the CISA license.
Number of Exams: 1 Exam
How to Pass: Score of 450 or higher
Time Frame: Pass exam + 5 years of work experience
8. Certified Financial Planner (CFP)
The CFP is the gold standard for financial planning.
Number of Exams: 1 Exam
How to Pass: Based on minimal competency level determined by CFP professionals
Time Frame: Can take exam 3 times within 24 months
I know there’s a ton of different certifications out there, but I wanted to give you a high level overview on the most well known certifications in the accounting + finance space.
Which certification(s) are the best for you? This depends on your career goals + interests. Everyone’s career path is different so it’s up to you to decide how you are going to execute accordingly. In my opinion, the CPA License is THE BEST certification because of high standard recognition in the business world. The CPA gives you opportunities to make influential changes in any industry whether it’s for individuals, businesses, organizations, or starting your own business or firm. The knowledge + skills from the comprehensive CPA exams + gaining experience are easily transferable to whatever career path you choose, regardless if it’s in accounting + finance. Let’s just say the CPA is your #1 pick when choosing what certification will transform your life. I can say that I would not change my CPA journey for the world because it taught me so much about myself, what I’m wildly capable of, + has opened the doors for limitless opportunities now as a licensed CPA.
If you’re thinking about or already on your CPA journey, I have experienced it all as a CPA Candidate + want to empower you during your CPA journey to elevate your mindset through CPA Exam Mindset Consultations to support you + keep you #alwaysACCOUNTANTable!
I hope this gave your more insight on what certifications are out there + help you choose which one is best for YOU! Which certifications are you aiming for?