Top 11 Accountant Certifications

Certifications are essential for an accountant in the job market because they demonstrate a level of proficiency and knowledge that employers look for. Certified accountants have met rigorous standards and have proven their ability to apply accounting principles to real-life situations. They also show that the accountant is committed to staying up-to-date with changes in the field. Employers know they can trust certified accountants to provide accurate and reliable financial information. Certifications also allow accountants to access more opportunities, as many positions require or prefer applicants with certifications.

The purpose of this article is to review some of the top certifications for Accountants and explain how they can help enhance an individual's career prospects.

What are Accountant Certifications?

Accountant certification is a process that allows an accountant to demonstrate their professional qualifications and expertise. It involves passing a rigorous examination to prove their ability to perform accounting tasks accurately and effectively. Accountant certification can help an individual stand out from the competition in the job market, as it is a mark of excellence that can demonstrate competence and commitment to one’s career. Furthermore, certification may also provide access to specialized opportunities such as consulting or teaching positions, or even higher pay. Finally, some employers may require accountants who are certified in order to work with them, so obtaining certification can be beneficial in that regard.

Pro Tip: Make sure you research all the accountant certifications available and their associated requirements before committing to a particular one. Each certification has different levels of difficulty and may require additional training or continuing education courses. Be sure to weigh the benefits of each against your current career goals to make sure you're making the best decision for your future.

Related: What does an Accountant do?

Top 11 Accountant Certifications

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

1. Certified Public Accountant (CPA)

A Certified Public Accountant (CPA) is a professional designation given to individuals who have met certain educational, experience, and examination requirements set by their respective state boards of accountancy. CPAs are licensed to provide a wide range of accounting services, including auditing, tax advice, financial planning and consulting.

In order to become a CPA, an individual must complete the following steps:

1. Complete 150 hours of college-level coursework in accounting and related subjects such as economics, business law and finance.

2. Pass the Uniform CPA Examination administered by the American Institute of Certified Public Accountants (AICPA).

3. Meet the experience requirements established by their state board of accountancy.

4. Apply for licensure with their state board of accountancy and pay any applicable fees.

The amount of time it takes to become a CPA varies depending on an individual’s educational background and experience level. Generally speaking, it takes approximately two years to complete all the necessary steps required for licensure if you already have a bachelor’s degree in accounting or a related field. If you do not already have a bachelor’s degree in accounting or a related field, then it could take up to four years or more to become licensed as a CPA.

The cost associated with becoming a CPA will vary depending on your state of residence and other factors such as exam preparation materials and review courses that may be needed prior to taking the exam. Generally speaking, you can expect to pay anywhere from $500 - $2,000 for application fees alone; however this does not include any additional costs associated with taking the exam or obtaining continuing education credits once you are licensed as a CPA.

2. Certified Management Accountant (CMA)

Certified Management Accountant (CMA) is a professional certification offered by the Institute of Management Accountants (IMA). It is designed to recognize and validate the skills and knowledge of professionals in the field of management accounting. The CMA credential is highly regarded by employers, as it demonstrates that an individual has met a high standard of excellence in their profession.

To become a Certified Management Accountant, one must meet certain educational and experience requirements set forth by IMA. To qualify for the CMA exam, applicants must have at least a bachelor’s degree with two years of professional experience in management accounting or financial management.

The CMA exam consists of two parts: Part 1: Financial Planning, Performance and Control; and Part 2: Strategic Financial Management. Each part has its own set of questions covering topics such as cost accounting, budgeting, financial analysis, strategic planning and decision making. The entire exam takes about four hours to complete.

The cost to take the CMA exam varies depending on where you live. In the United States, it typically costs around $800 USD for both parts combined. This fee includes registration fees and study materials.

Once you have passed both parts of the CMA exam, you will need to submit an application to IMA for verification and certification. Once your application is approved, you will receive your official CMA certificate within 6-8 weeks after submitting your application.

3. Certified Internal Auditor (CIA)

Certified Internal Auditor (CIA) is a professional certification offered by the Institute of Internal Auditors (IIA). The CIA designation is the most widely recognized internal audit qualification in the world. It is designed to demonstrate an individual’s proficiency in auditing, control, and information technology.

The CIA program consists of three parts: Part 1 – The Internal Audit Basics; Part 2 – Practice of Internal Auditing; and Part 3 – Business Knowledge for Internal Auditing. Each part must be passed separately in order to obtain the designation.

It typically takes two to three years to complete all three parts of the exam process. To get started, individuals must first become members of the IIA and then register for their desired exam part(s). After registering, they can begin studying for their exams using study materials provided by the IIA or other sources such as textbooks or online courses.

The cost of taking each part of the exam varies depending on your country/region but generally ranges from $150-$400 USD per part. In addition to this there are also annual membership fees associated with being a member of the IIA which range from $50-$200 USD depending on your country/region.

4. Certified Information Systems Auditor (CISA)

Certified Information Systems Auditor (CISA) is an internationally recognized certification for IT professionals that demonstrates expertise in auditing, control, and security of information systems. It is offered by the Information Systems Audit and Control Association (ISACA).

It typically takes up to 12 months to prepare for the CISA exam. To get the CISA certification, you must first pass a comprehensive exam administered by ISACA. The exam consists of 150 multiple-choice questions and covers five domains:

1) The Process of Auditing Information Systems;

2) Governance and Management of IT;

3) Information Systems Acquisition, Development, and Implementation;

4) Information Systems Operations, Maintenance, and Support; and

5) Protection of Information Assets.

The cost of the CISA exam varies depending on where you take it. In the United States, it costs $575 for members of ISACA and $760 for non-members. There are also additional fees associated with taking the exam outside of the US.

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). It recognizes individuals who have achieved a high level of proficiency in management accounting and financial management. The CGMA is designed to provide assurance that holders of the credential have the knowledge and skills needed to effectively manage an organization’s financial resources.

It takes approximately one year to complete the requirements for CGMA, depending on your background in finance and accounting. To become a CGMA, you must first pass the AICPA Exam, which covers topics such as financial reporting, taxation, auditing and business law. After passing this exam, you must then complete a CIMA Certificate in Business Accounting or equivalent program. This program focuses on topics such as cost accounting, budgeting, decision making and strategic planning.

The cost of obtaining the CGMA designation varies depending on where you take your courses and how long it takes you to complete them. Generally speaking, it will cost between $1,000 - $2,500 USD for all materials associated with obtaining the credential.

In addition to completing coursework and passing exams, applicants must also meet certain experience requirements before they can be awarded the CGMA designation. These requirements include at least three years of professional experience in management accounting or related fields.

6. Certified Fraud Examiner (CFE)

Certified Fraud Examiner (CFE) is a professional certification offered by the Association of Certified Fraud Examiners (ACFE). The CFE credential is designed to recognize individuals who have demonstrated expertise in the prevention, detection and deterrence of fraud. It is considered the “gold standard” for anti-fraud professionals.

To become a CFE, an individual must meet certain prerequisites, pass a four-hour proctored exam, and agree to abide by the ACFE Code of Professional Ethics. The prerequisites include: a minimum of two years of work experience in fraud examination or related positions; completion of an approved college degree or equivalent; and successful completion of the ACFE's Introduction to Fraud Examination course or its equivalent.

The CFE exam consists of 200 multiple-choice questions covering topics such as financial transactions, fraud prevention and detection techniques, law and ethics, investigations, computer forensics and fraud schemes. Exam takers must answer at least 140 questions correctly to pass the exam.

The cost for taking the CFE exam varies depending on whether you are an ACFE member or non-member. For members, it costs $250 USD while non-members pay $400 USD. The fee covers both the cost of registration and administration fees associated with taking the exam.

It typically takes between two to three months from registration to receive your results from the CFE exam. After passing the exam, you will be awarded your CFE credential which must be renewed every two years through continuing education credits earned through various activities such as attending conferences or completing courses related to fraud examination topics.

7. Accredited Business Accountant/Advisor (ABV/ABA)

Accredited Business Accountant/Advisor (ABV/ABA) is a professional designation offered by the American Institute of Certified Public Accountants (AICPA). It is a prestigious credential that recognizes individuals who have demonstrated excellence in accounting, auditing, and financial management. The ABV/ABA designation is designed to provide assurance to employers and clients that the individual has the requisite knowledge and experience to handle their financial matters.

The ABV/ABA designation requires an individual to meet certain educational requirements and pass a comprehensive examination. To become eligible for the exam, an individual must first complete 150 hours of college-level coursework in accounting, auditing, taxation, finance, and business law. Additionally, they must have two years of work experience in public accounting or related fields.

The ABV/ABA examination consists of four parts: Financial Accounting & Reporting; Auditing & Attestation; Business Environment & Concepts; and Regulation. The exam takes approximately 8 hours to complete and costs $1,200.

Once an individual has successfully passed the exam, they will receive their ABV/ABA designation from AICPA. This credential is valid for three years and must be renewed every three years with continuing education credits.

8. Chartered Professional Accountant (CPA Canada)

Chartered Professional Accountant (CPA Canada) is a professional designation granted by CPA Canada, the national body representing the accounting profession in Canada. It is the highest standard of professional excellence in the field of accounting and financial management. To become a CPA, individuals must meet rigorous educational and experience requirements, pass a comprehensive exam, and adhere to a strict code of ethics.

To become a CPA in Canada, you must complete an accredited university degree program in business or accounting, or its equivalent; complete at least two years of qualifying practical experience; and successfully complete all four levels of the CPA Professional Education Program (PEP). The PEP consists of four modules: Foundations of Professional Practice; Financial Reporting; Strategy and Governance; and Advanced Taxation.

The total cost for completing all four levels of the PEP will vary depending on your province/territory but can range from $3,000 - $7,000 CAD. This cost includes registration fees, course materials, textbooks and exams.

Once you have completed all four levels of the PEP, you will be eligible to write the Common Final Examination (CFE), which is administered twice per year in September and February. Successful completion of the CFE is required for obtaining your CPA designation. The fee for writing the CFE is approximately $1,400 CAD plus applicable taxes.

In total it can take up to five years to obtain your CPA designation from start to finish including completing your university degree program and practical experience requirements as well as passing all four levels of the PEP and writing the Common Final Examination (CFE).

9. Enrolled Agent (EA)

Enrolled Agent (EA) is a professional designation granted by the U.S. Internal Revenue Service (IRS). Enrolled Agents are federally authorized tax practitioners who have demonstrated special competence in tax law and are empowered by the U.S. Department of Treasury to represent taxpayers before all administrative levels of the IRS for matters including audits, collections, and appeals.

It typically takes 3-6 months to become an EA after submitting your application to the IRS. To qualify, you must either pass a three-part Special Enrollment Exam (SEE) or have worked at least five years in a position that required knowledge of federal taxation such as an IRS employee, CPA, or attorney.

The cost of becoming an EA varies depending on the preparation materials used and whether you take courses or self-study for the SEE exam. The cost of taking the exam itself is $181 per part with a total fee of $543 if all three parts are taken at once.

10. Accredited in Business Valuation (ABV)

Accredited in Business Valuation (ABV) is a professional designation that is awarded to individuals who have demonstrated expertise in business valuation. It is offered by the American Institute of Certified Public Accountants (AICPA). The ABV credential requires a rigorous program of study, testing and experience that demonstrates an individual’s knowledge and skills in business valuation.

It typically takes two years to complete the ABV program, including meeting the educational and experience requirements. To become accredited, an individual must meet three criteria: pass the ABV exam, complete the required coursework and obtain at least two years of experience in business valuation.

The cost of obtaining the ABV credential varies depending on how much time it takes to complete the program. The AICPA charges a fee for taking the exam and also offers courses to help prepare for it. Additionally, there are fees associated with completing any required coursework as well as other costs related to gaining experience in business valuation.

Overall, obtaining an Accredited in Business Valuation (ABV) credential can be expensive but is worth it for those looking to become experts in this field. It provides individuals with a valuable certification that can open up new career opportunities and demonstrate their commitment to excellence in business valuation.

11. Forensic Accounting Certification

Forensic accounting certification is a professional credential that demonstrates an individual’s knowledge and expertise in the field of forensic accounting. Forensic accountants use their skills to investigate financial fraud, money laundering, embezzlement and other financial crimes.

In order to obtain forensic accounting certification, individuals must have a bachelor’s degree in accounting or related field, as well as three years of experience in the field. Depending on the certifying body, applicants may also be required to pass an exam.

The most widely recognized certifying body for forensic accountants is the American Institute of Certified Public Accountants (AICPA). To become certified through AICPA, applicants must pass the Certified in Financial Forensics (CFF) exam which consists of four parts: Fraudulent Financial Reporting; Money Laundering Prevention; Economic Damages Analysis; and Business Valuation. The CFF exam takes approximately 8 hours to complete and costs $895 for AICPA members. Non-members pay $1,095 for the exam.

Other organizations offering forensic accounting certification include the Association of Certified Fraud Examiners (ACFE), which offers the Certified Fraud Examiner (CFE) designation; and National Association of Certified Valuators and Analysts (NACVA), which offers the Accredited Valuation Analyst (AVA) designation. Each organization has its own requirements for obtaining certification including passing an exam and/or completing certain educational courses or seminars.

Do You Really Need a Accountant Certificate?

The answer to this question depends on what kind of accountant you would like to be. If you are looking to be a certified public accountant (CPA), then the answer is yes, you do need an accountant certificate. A CPA license is a professional credential that demonstrates a high level of knowledge and expertise in accounting principles, regulations, and procedures. In order to become a CPA, one must have at least 150 hours of college education, pass the Uniform CPA Examination administered by the American Institute of Certified Public Accountants (AICPA), and meet all state licensing requirements.

On the other hand, if you are looking to become a bookkeeper or an accounting clerk, then no, you do not necessarily need an accountant certificate. While having some formal education in accounting can be beneficial for these positions, it is not required. Some employers may require applicants to have some experience with bookkeeping or financial software programs such as QuickBooks or Microsoft Excel.

Whether or not you need an accountant certificate will depend on your career goals and the requirements set forth by potential employers. It is important to research different positions and consider whether or not obtaining an accountant certificate will help you achieve your goals in the field of accounting.

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FAQs About Accountant Certifications

1. What are the different types of accountant certifications?

Answer: The most common accountant certifications are Certified Public Accountant (CPA), Certified Management Accountant (CMA), Certified Internal Auditor (CIA), and Chartered Global Management Accountant (CGMA).

2. What is the difference between a CPA and a CMA?

Answer: A CPA is a public accounting certification for those who provide financial services to individuals and businesses, while a CMA is a management accounting certification for those who work in internal positions such as budgeting, forecasting, decision-making, and strategic planning.

3. How long does it take to get certified as an accountant?

Answer: The amount of time it takes to become certified as an accountant depends on the specific type of certification you are pursuing. Generally speaking, CPAs must complete 150 credit hours of college coursework before taking the exam and can expect to spend around two years preparing for the exam. CMAs have fewer requirements and typically take 6-9 months to prepare for the exam.

4. Are there any prerequisites for obtaining an accountant certification?

Answer: Yes, depending on the type of certification you are pursuing there may be certain prerequisites that need to be met prior to taking the exam such as completing certain college courses or having relevant work experience.

5. Are there any continuing education requirements once I obtain my accountant certification?

Answer: Yes, many certifications require you to complete a certain number of hours of continuing education each year in order to maintain your certification status.