Top 11 Account Analyst Certifications

Certifications are important for an account analyst in the job market because they demonstrate a level of knowledge and expertise that employers look for when hiring. Certified account analysts have demonstrated their knowledge in the field, as well as their commitment to staying up-to-date with industry trends and best practices. Additionally, certifications can help account analysts stand out from other candidates, giving them an edge when competing for jobs. Employers may also be more likely to hire a certified account analyst since they know that the candidate has the necessary skills and knowledge to perform the job successfully.

The purpose of this article is to review the most beneficial certifications for Account Analysts and explain how they can help further an Account Analyst's career.

What are Account Analyst Certifications?

Account analyst certification is a professional credential that demonstrates expertise in financial analysis, accounting and financial reporting. It is designed to help individuals increase their knowledge and proficiency in the field of accounting and financial analysis. The certification is offered by several organizations, including the Institute of Management Accountants (IMA) and the Association of Certified Public Accountants (ACPA).

The certification requires candidates to demonstrate their knowledge of various topics, such as financial statement analysis, budgeting, risk management and accounting principles. In addition to passing an exam, applicants must also have at least two years of experience in either finance or accounting.

The benefits of earning an account analyst certification include increased job security, higher pay potential and improved career opportunities. With this credential, professionals are better equipped to provide accurate financial advice for businesses or clients. They can also improve their ability to analyze data and make informed decisions about investments or other financial matters. This credential can also help candidates stand out from the competition when applying for jobs in the finance industry.

Pro Tip: Before you pursue an account analyst certification, consider the specific skills and knowledge required for the job. Familiarize yourself with the job description and determine which areas you need to focus on first in order to succeed. Additionally, research what certifications are available for account analysts as well as the requirements for each so that you can choose one that best fits your career goals.

Related: What does an Account Analyst do?

Top 11 Account Analyst Certifications

Here’s our list of the best certifications available to Account Analysts today.

1. Certified Public Accountant (CPA)

A Certified Public Accountant (CPA) is a professional designation given to individuals who have passed the Uniform CPA Examination and met additional state education and experience requirements for certification as a CPA. CPAs are certified by their state boards of accountancy, which are responsible for licensing and regulating the profession.

It typically takes four years to become a CPA. This includes completing a bachelor’s degree in accounting or related field, meeting the minimum number of college credits required by your state board of accountancy, passing the Uniform CPA Exam, and meeting any other requirements set forth by your state.

To get certified as a CPA, you must meet the education requirements set forth by your state board of accountancy. This usually includes completing at least 150 semester hours of college credit with courses in accounting, auditing, taxation, business law and ethics. You must also pass the Uniform CPA Exam administered by the American Institute of Certified Public Accountants (AICPA).

The cost to become a CPA varies depending on where you live and what type of educational program you choose. Generally speaking, it can cost anywhere from $1,000 to $5,000 to complete all of the necessary coursework and exams needed to become certified.

2. Certified Management Accountant (CMA)

Certified Management Accountant (CMA) is a professional certification awarded by the Institute of Management Accountants (IMA). It is designed to recognize the expertise and skills of those who specialize in management accounting, financial analysis, and strategic planning. The CMA credential demonstrates an individual's ability to manage resources, analyze financial data, and make informed decisions that will help organizations achieve their objectives.

It typically takes two to four years to complete the requirements for the CMA certification. To become certified, individuals must pass two exams: the CMA Exam Part 1 and CMA Exam Part 2. Each exam consists of 100 multiple-choice questions and five essay questions. Candidates must also have at least two years of professional experience in management accounting or financial management.

The cost of becoming a Certified Management Accountant varies depending on where you take the exams and how much preparation you need for them. The IMA offers a variety of study materials and practice exams to help candidates prepare for both parts of the exam. The cost for these materials ranges from $500-$1,000 USD depending on what you purchase. Additionally, there are fees associated with taking each part of the exam which range from $250-$400 USD per exam.

Overall, becoming a Certified Management Accountant can be expensive but it is an important investment for individuals looking to advance their careers in finance or accounting.

3. Certified Internal Auditor (CIA)

Certified Internal Auditor (CIA) is a professional certification offered by the Institute of Internal Auditors (IIA). It is a globally recognized credential that demonstrates an individual’s proficiency in internal auditing, risk management, and control. The CIA designation is the only globally accepted certification for internal auditors and is highly sought after by employers.

To become a Certified Internal Auditor, you must meet certain educational requirements and pass the three-part CIA exam. The exam consists of Part 1: Essentials of Internal Auditing; Part 2: Practice of Internal Auditing; and Part 3: Business Knowledge for Internal Auditing. Each part must be passed within a five-year period.

You can prepare for the exam through self-study or by attending an approved review course. A variety of resources are available to help you prepare for the exam, including books, online courses, practice exams, and study guides.

The cost to take the CIA exam varies depending on your country of residence and whether you are taking it as an individual or group examination. Generally speaking, the cost ranges from $250-$1,000 USD per part. Additionally, there may be other fees associated with taking the exam such as registration fees or late fees if applicable.

4. Certified Financial Analyst (CFA)

Certified Financial Analyst (CFA) is a professional designation offered by the CFA Institute, a global association of investment professionals. The CFA credential is widely recognized as the highest standard of excellence in the investment industry and is held by over 150,000 professionals in more than 165 countries.

The CFA program consists of three levels, each taking approximately one year to complete. Level I focuses on the basics of finance and investments, such as financial statement analysis, economics, quantitative methods, and ethics. Level II covers portfolio management and advanced investment topics such as derivatives and alternative investments. Finally, Level III covers portfolio management and wealth planning.

To become a CFA charterholder, candidates must pass all three levels of the exam within four years and have four years of qualified work experience in an investment-related role.

The cost to become a CFA charterholder varies depending on when you register for the exams and which study materials you use. Generally speaking, it will cost around $3,000-$4,000 for all three levels combined.

5. Chartered Global Management Accountant (CGMA)

Chartered Global Management Accountant (CGMA) is a professional designation awarded by the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA). The CGMA designation recognizes the expertise and experience of management accountants in financial analysis, decision-making, strategy, risk management and governance.

It typically takes between three to five years to get the CGMA designation. To become a CGMA, you must first meet certain educational requirements, such as having an undergraduate degree in accounting or finance from an accredited college or university. You must also have at least two years of professional experience in accounting or finance.

Once you have met these requirements, you can apply for the CGMA exam. The exam consists of four parts: Financial Reporting, Management Accounting & Analysis, Strategy & Governance and Strategic Business Leader. After passing all four parts of the exam, you will be awarded the CGMA designation.

The cost of obtaining the CGMA designation varies depending on your country and region. Generally speaking, it costs around $1,000 USD to take all four parts of the exam. This fee does not include any additional study materials or other costs associated with taking the exam.

6. Certified Government Financial Manager (CGFM)

Certified Government Financial Manager (CGFM) is a professional certification program offered by the Association of Government Accountants (AGA). It is designed to recognize the professional competence of individuals in government financial management. The CGFM designation is an indication that an individual has achieved a high level of knowledge and proficiency in the field of government financial management.

The CGFM program consists of three exams, each focusing on different aspects of government finance: Governmental Environment, Governmental Accounting and Financial Reporting, and Governmental Budgeting and Finance. To earn the CGFM designation, individuals must pass all three exams within a five-year period.

In order to be eligible to take the CGFM exams, applicants must have at least two years of professional-level experience in governmental accounting, auditing, or financial management; or have completed 16 hours of college-level coursework in governmental accounting or auditing; or have completed a graduate degree program with at least nine semester hours in governmental accounting or auditing.

The cost for taking all three exams is $735 for AGA members and $895 for non-members. The fee includes access to study materials and practice tests as well as exam registration fees.

It typically takes several months to prepare for the CGFM exams depending on an individual's background in government finance and their ability to dedicate time to studying.

7. Certified Information Systems Auditor (CISA)

Certified Information Systems Auditor (CISA) is an internationally recognized certification offered by ISACA that demonstrates a professional’s knowledge and experience in the field of information systems auditing, control and security. It is designed to measure the ability of professionals to assess vulnerabilities, report on compliance and institute controls within an organization.

To become certified as a CISA, individuals must meet certain educational requirements and pass an exam administered by ISACA. The exam consists of 200 multiple-choice questions covering topics such as IT governance, risk management, audit process management, IT service delivery and support, protection of information assets and more.

The exam takes approximately four hours to complete and can be taken at any Prometric testing center worldwide. The cost for the exam is $575 for ISACA members or $760 for non-members. After passing the exam, individuals must also submit a signed application form with their professional experience details in order to receive their CISA certification.

8. Chartered Financial Consultant (ChFC)

Chartered Financial Consultant (ChFC) is a professional designation awarded by The American College of Financial Services. It is designed to recognize individuals who have achieved a high level of knowledge and expertise in the areas of financial planning, insurance, taxation, retirement planning, investments, and estate planning.

To obtain the ChFC designation, individuals must complete nine college-level courses and pass a comprehensive two-day examination. The courses cover topics such as financial planning process, risk management and insurance planning, employee benefits planning, investment planning, income tax planning, retirement planning, and estate planning.

The American College offers an online program for those seeking to earn the ChFC designation. This program includes all nine required courses plus additional elective courses that are available for purchase. The cost of the program varies depending on the number of courses taken but typically ranges from $2,000 - $3,500.

In addition to completing the required coursework and passing the exam, applicants must also meet certain experience requirements in order to be eligible for the ChFC designation. Applicants must have at least three years of full-time experience in personal financial planning or related fields such as accounting or law.

The entire process typically takes 12-18 months to complete depending on how quickly you can finish your coursework and pass your exams.

9. Accredited Business Valuator (ABV)

Accredited Business Valuator (ABV) is a designation given to professionals who have met the educational and experience requirements set by the American Society of Appraisers (ASA). The ABV credential is designed to recognize those who have achieved a high level of proficiency in business valuation.

The ABV credential requires applicants to pass an exam, complete coursework, and meet certain experience requirements. To be eligible to take the exam, applicants must have at least three years of professional business valuation experience or hold a graduate degree in accounting, finance, economics, or law. Applicants must also complete an approved course on business valuation prior to taking the exam.

The ABV exam consists of multiple-choice questions covering topics such as financial statement analysis, economic principles and concepts related to business valuation, legal aspects of business valuation, and professional standards for appraisers. The exam takes approximately four hours and costs $450.

Once applicants have passed the exam, they must complete additional coursework in order to obtain their ABV credential. This includes courses on advanced financial statement analysis and advanced concepts in business valuation theory. After completing these courses, applicants must submit a portfolio that demonstrates their knowledge and experience in performing valuations. Once this portfolio has been reviewed and accepted by ASA, applicants will receive their ABV credential.

In total, it can take up to two years for an applicant to become an Accredited Business Valuator (ABV). The cost of obtaining the credential depends on the number of courses taken and other fees associated with taking the exam and submitting a portfolio for review.

10. Chartered Financial Analyst – Investment Performance Measurement (CFAPIM)

Chartered Financial Analyst – Investment Performance Measurement (CFAPIM) is a certification program designed to help financial professionals measure and analyze the performance of investments. It is offered by the CFA Institute, a global association of investment professionals. The CFAPIM certification provides a comprehensive understanding of investment performance measurement and analysis techniques, including portfolio management, risk management, and asset allocation.

The CFAPIM program consists of three exams: Level I, Level II, and Level III. The Level I exam focuses on basic concepts such as portfolio construction, asset allocation, and portfolio performance measurement. The Level II exam covers more advanced topics such as capital market theory, equity valuation methods, fixed income securities analysis, and derivatives pricing models. Finally, the Level III exam covers topics related to portfolio management strategies and practices.

It typically takes about two years to complete all three exams for the CFAPIM certification. To get started with the program you must first become a CFA charterholder by passing the CFA Program Exam. Once you have passed this exam you can then register for the CFAPIM exams through the CFA Institute website.

The cost for taking each level of the CFAPIM exam varies depending on your country or region but generally ranges from $400-$600 USD per exam. Additionally there are fees associated with registering for each level of the exam as well as any applicable taxes or other charges that may apply in your area.

11. Accredited in Business Valuation and Financial Forensics (ABVFF).

Accredited in Business Valuation and Financial Forensics (ABVFF) is a professional designation offered by the National Association of Certified Valuators and Analysts (NACVA). The ABVFF designation recognizes professionals who have demonstrated expertise in business valuation, financial forensics, and litigation support. It is designed to ensure that those who hold the designation have the knowledge, skills, and experience to provide accurate valuations and financial forensics services.

The ABVFF program requires applicants to pass two exams: one on business valuation and one on financial forensics. Applicants must also possess a minimum of five years of professional experience in business valuation or related fields.

The ABVFF exam consists of 150 multiple-choice questions covering topics such as business valuation theory, methodology, practice standards, ethics, taxation, economics, finance, accounting principles, and financial statement analysis. The exam takes approximately four hours to complete.

To apply for the ABVFF designation, applicants must submit an application form with supporting documentation such as transcripts from accredited universities or colleges; proof of professional experience; letters of reference; and payment for the application fee. The application fee varies depending on whether you are a NACVA member or non-member. For members it is $350 USD; for non-members it is $550 USD.

Once all requirements are met and the application is approved by NACVA’s board of directors, applicants will be notified within two weeks if they have been accepted into the program. Successful applicants can then register for the exams which are held twice per year (in June and December). Upon successful completion of both exams within three years from the date of acceptance into the program, applicants will be awarded their ABVFF designation.

Do You Really Need a Account Analyst Certificate?

Whether or not you need an account analyst certificate depends upon the type of job you are looking for. Many employers in the accounting and finance fields require applicants to hold a certification in order to be considered for positions. This is especially true for higher-level roles such as Account Analyst.

If you are seeking entry-level positions, however, then it may not be necessary for you to obtain an account analyst certificate. It could be beneficial if there are other candidates with similar qualifications that have obtained a certification, but it is ultimately up to the employer to decide if they feel your experience and skillset make you a qualified applicant without one.

It is important to remember that obtaining a certificate in any field can help set you apart from other candidates and demonstrate your dedication to the profession. A certification can also provide valuable knowledge for those just starting out in the field and give them an edge over others who lack such credentials. As such, if you are interested in pursuing a career as an Account Analyst, then obtaining a certificate may be beneficial in helping you stand out from the competition and gaining access to more opportunities within the field.

Related: Account Analyst Resume Examples

FAQs About Account Analyst Certifications

1. What is an Account Analyst Certification?

Answer: An Account Analyst Certification is a professional certification that provides individuals with the skills and knowledge necessary to analyze and interpret financial information, helping organizations make informed business decisions.

2. What are the benefits of becoming an Account Analyst?

Answer: Becoming an Account Analyst can provide individuals with a wide range of benefits including increased job security, higher salaries, better opportunities for career advancement, and improved job satisfaction.

3. How do I become certified as an Account Analyst?

Answer: To become certified as an Account Analyst, you must complete a course of study approved by the American Institute of Certified Professional Analysts (AICPA). This typically involves completing a series of courses in accounting, finance, economics, and other related topics. Once you have completed the required coursework, you must pass a certification exam in order to receive your certification.

4. How long does it take to become certified as an Account Analyst?

Answer: The amount of time it takes to become certified as an Account Analyst will vary depending on your prior experience and education level. However, it typically takes between 6-12 months to complete the required coursework and pass the certification exam.

5. Is there any continuing education required for maintaining my Account Analyst Certification?

Answer: Yes, maintaining your certification requires ongoing professional development activities such as attending seminars or workshops related to accounting or finance topics. You will also need to renew your certification every three years by completing at least 40 hours of continuing education credits in relevant topics during that period.