Top 11 Accounting Consultant Certifications

Certifications are important for accounting consultants in the job market because they demonstrate a certain level of expertise, knowledge, and commitment to the profession. They can give employers assurance that the consultant has the necessary skills and experience to help them with their financial needs. Certifications also show that the consultant is knowledgeable about current laws and regulations, as well as industry trends. Having certifications also gives consultants an edge over other applicants when competing for positions and can help them stand out from the competition.

The purpose of this article is to provide an overview of the best certifications for Accounting Consultants and explain how they can help to enhance an accounting consultant's career.

What are Accounting Consultant Certifications?

Accounting consultant certification is a designation given to professionals who demonstrate expertise in accounting, financial reporting and auditing. This certification is often obtained through professional organizations such as the American Institute of Certified Public Accountants (AICPA) or the Institute of Management Accountants (IMA). Having this certification demonstrates that an individual has a high level of knowledge and experience in the field of accounting.

Having an accounting consultant certification can be beneficial to employers, clients, and customers by providing assurance that their financial records are accurate and up-to-date. It also shows that an individual is knowledgeable in the principles of accounting, auditing, and financial reporting. With this certification, it may be easier for businesses to attract potential clients because they know that their books are being handled by a qualified professional with a high level of expertise.

For individuals seeking to work as accounting consultants, having this certification can make them more competitive in the job market. It demonstrates that they have achieved a certain level of expertise and proficiency in their field, which may give them an edge over other applicants. Additionally, having an accounting consultant certification may qualify them for higher wages or better job positions than those without the certification.

Overall, obtaining an accounting consultant certification can provide numerous benefits to both employers and employees alike. It demonstrates professionalism and expertise while providing assurance that financial records are accurate and up-to-date. As such, it can be a valuable asset for those looking to pursue a career in the field of accounting consulting.

Pro Tip: Make sure to research the various accounting consultant certifications available and determine which one best suits your needs. In addition, find out what prerequisites need to be fulfilled in order to become certified. This will help you ensure that you are investing in a certification that is going to provide you with the necessary knowledge and skills to succeed as an accounting consultant.

Related: What does an Accounting Consultant do?

Top 11 Accounting Consultant Certifications

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

1. Certified Public Accountant (CPA)

Certified Public Accountant (CPA) is a professional designation that is awarded by the American Institute of Certified Public Accountants (AICPA). A CPA is a licensed accountant who has met the educational, experience, and examination requirements set forth by the AICPA. CPAs are responsible for preparing financial statements, auditing financial records, and providing tax advice to individuals and businesses.

It typically takes four years of college education plus one year of professional experience in accounting to become a CPA. In addition, applicants must pass the Uniform CPA Examination administered by the National Association of State Boards of Accountancy (NASBA). The exam consists of four sections: Auditing & Attestation; Business Environment & Concepts; Financial Accounting & Reporting; and Regulation.

To get your CPA license, you must meet certain eligibility requirements set by your state board of accountancy. These requirements vary from state to state but generally include an education requirement (usually 150 semester hours or more), passing scores on the Uniform CPA Exam, and a minimum amount of relevant work experience.

The cost for taking the Uniform CPA Exam varies from state to state but generally ranges from $800-$1,500 depending on which sections you need to take. In addition, there may be additional fees associated with applying for your license such as application fees or licensing fees that range from $50-$200 depending on your state board’s requirements.

2. Certified Management Accountant (CMA)

Certified Management Accountant (CMA) is a professional certification for accountants who specialize in management accounting. The CMA designation is awarded by the Institute of Management Accountants (IMA). It recognizes individuals who have achieved an advanced level of proficiency in financial planning, analysis, control, decision support and professional ethics.

To become a CMA, you must first meet the eligibility requirements and pass two exams administered by the IMA. The exams cover topics such as financial statement analysis, cost management, budgeting and forecasting, strategic planning and performance measurement. You must also demonstrate two years of professional experience in management accounting or related fields.

The entire process typically takes between six months to one year to complete. To get started, you must register with the IMA and pay a registration fee of $250 USD. After that, you will need to purchase study materials from the IMA or other third-party providers. The cost of these materials can range from several hundred dollars to more than a thousand dollars depending on your study needs. Finally, you will need to pay an exam fee of $415 USD for each part of the exam when registering for it.

Overall, becoming a CMA is not cheap but it does provide a valuable credential that can open up new career opportunities and increase your earning potential.

3. 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 individuals who have achieved a high level of proficiency in management accounting, financial management, and strategic management.

To get the CGMA designation, you must first pass the CGMA exam. The exam consists of two parts: a multiple-choice portion and an essay portion. The multiple-choice portion requires you to answer questions related to topics such as financial planning, budgeting, cost accounting, and performance measurement. The essay portion requires you to write an essay on a specific topic related to management accounting.

The CGMA exam typically takes between three and six months to complete depending on how much time you are able to dedicate to studying for it. You will need to register with AICPA or CIMA before taking the exam. Once registered, you can access study materials online or purchase them from AICPA or CIMA directly.

The cost of taking the CGMA exam varies depending on which organization you register with and whether or not you purchase additional study materials. Generally speaking, however, it costs around $1,000 USD for registration fees plus any additional study materials purchased.

Once you have passed the CGMA exam, you will be eligible for certification as a Chartered Global Management Accountant (CGMA). This certification is valid for three years after which time it must be renewed in order to remain active.

4. Certified Internal Auditor (CIA)

Certified Internal Auditor (CIA) is a professional certification offered by the Institute of Internal Auditors (IIA). It is designed to recognize individuals who have met the highest standards of professional competence in internal auditing. The CIA designation demonstrates that an individual has achieved a level of knowledge and proficiency in the field of internal auditing, as well as a commitment to upholding ethical standards and principles.

To become a Certified Internal Auditor, you must meet certain requirements set by the IIA. These include having at least two years of full-time internal audit experience, passing a four-part exam administered by the IIA, and completing an ethics course. The four parts of the exam are: Part 1 – The Internal Audit Activity’s Role in Governance, Risk, and Control; Part 2 – Business Knowledge for Internal Auditing; Part 3 – Conducting the Internal Audit Engagement; and Part 4 – Business Analysis and Information Technology.

The cost to take all four parts of the exam is $1,200 USD ($300 per part). Additionally, there are fees associated with registering for each part of the exam ($50 USD per part), as well as fees associated with taking any required ethics courses ($200 USD).

It typically takes around six months to prepare for all four parts of the exam. However, this timeline can vary depending on how much time an individual has available to study and how quickly they are able to absorb new material.

5. Certified Fraud Examiner (CFE)

Certified Fraud Examiner (CFE) is a professional certification awarded by the Association of Certified Fraud Examiners (ACFE). It is designed to recognize individuals who have demonstrated expertise in the prevention, detection, and investigation of fraud. CFEs are trained to detect and investigate financial crimes such as embezzlement, money laundering, bribery, and other types of fraud.

To become a Certified Fraud Examiner, an individual must meet certain educational requirements and pass the CFE Exam. The exam consists of four parts: Financial Transactions & Fraud Schemes; Law; Investigation; and Business Practices & Ethics. The exam takes approximately four hours to complete.

In order to sit for the CFE Exam, an individual must be a member of ACFE and pay the applicable fees. The cost for ACFE membership is $220 for one year or $550 for three years. Additionally, there is a fee of $395 for sitting for the CFE Exam.

Overall, it typically takes about six months from application submission to taking the exam. After passing the exam, an individual will become a Certified Fraud Examiner and receive their certificate from ACFE.

6. Certified Government Financial Manager (CGFM)

Certified Government Financial Manager (CGFM) is a professional certification program administered by the Association of Government Accountants (AGA). It is designed to recognize the specialized knowledge and skills required for effective management of government financial resources. The CGFM designation demonstrates that an individual has mastered the technical knowledge, principles, and practices of government financial management.

To become certified, individuals must pass three examinations: Governmental Environment, Governmental Accounting, and Governmental Financial Management. Each exam consists of 100 multiple-choice questions and must be completed in two hours. Candidates must also have at least two years of professional experience in government financial management or related fields.

The cost to take each exam varies depending on the jurisdiction where you are taking it. Generally speaking, it costs around $200 per exam plus any applicable taxes or fees.

In total, it can take anywhere from six months to two years to complete all three exams and become certified as a CGFM.

7. Accredited Business Valuator (ABV)

Accredited Business Valuator (ABV) is a certification offered by the Canadian Institute of Chartered Business Valuators (CICBV). It is a professional designation that recognizes expertise in business valuation and financial analysis. The ABV credential is designed to meet the needs of professionals who provide independent, objective valuations for business owners, investors, lenders, and other stakeholders.

The ABV credential requires applicants to demonstrate their knowledge and experience in the field of business valuation through an examination process. The exam consists of two parts: a written component and an oral component. The written component covers topics such as financial statement analysis, market analysis, industry trends, and legal considerations. The oral component includes case studies and presentations on various aspects of business valuation.

It typically takes around four months to complete the entire ABV certification process. Candidates must first submit an application form with supporting documents to CICBV. Once accepted into the program, they must complete all required coursework within 12 weeks before taking the exam. After passing the exam, candidates are awarded their ABV credential and can start practicing as accredited business valuators.

The cost of obtaining the ABV credential varies depending on which courses you choose to take. Generally speaking, it costs approximately $2,000-$3,000 CAD for tuition fees plus additional costs for textbooks and materials.

8. Certified Information Systems Auditor (CISA)

Certified Information Systems Auditor (CISA) is an internationally recognized certification offered by the Information Systems Audit and Control Association (ISACA). It is designed to validate one’s expertise in the field of information systems auditing, control, and security. The CISA credential is highly sought after by employers looking for professionals with the skills necessary to protect their organization’s data assets.

To become a CISA, one must pass a comprehensive examination that covers five domains: auditing information systems; governance and management of IT; protection of information assets; system acquisition, development, and implementation; and service delivery and support. This exam consists of 200 multiple-choice questions that must be completed within four hours.

The cost of obtaining the CISA certification varies depending on your country or region. Generally speaking, it will cost between $600-$800 USD to take the exam. Additionally, there are fees associated with membership in ISACA as well as annual maintenance fees for maintaining your certification status.

In order to obtain the CISA certification, you must first register with ISACA and complete a series of prerequisites such as completing an approved course or having at least five years of experience in information systems auditing or related fields. Once you have met these requirements, you can then register for the exam which is offered twice per year – once in June and once in December. After passing the exam, you will receive your official certificate from ISACA within 8-10 weeks.

9. Chartered Professional in Human Resources (CPHR)

Chartered Professional in Human Resources (CPHR) is a professional designation that recognizes individuals who have demonstrated an advanced level of knowledge and expertise in the field of human resources. CPHR certification is awarded by the Human Resource Professionals Association (HRPA) and is recognized as the gold standard for HR professionals in Canada.

It typically takes two to three years to complete the requirements for CPHR certification, depending on your experience and education level. To become certified, you must meet all of the following criteria:

• Have a minimum of three years of relevant HR experience
• Complete the CPHR Certification Program or equivalent courses
• Pass the CPHR exam
• Agree to abide by the HRPA Code of Ethics and Standards of Practice

The cost to become certified varies depending on which route you take. The full CPHR Certification Program costs $1,995 plus applicable taxes, while individual courses range from $395 to $595 plus applicable taxes. There are also discounts available for students and HRPA members.

10. Certified Financial Planner (CFP®)

Certified Financial Planner (CFP®) is a professional designation given by the Certified Financial Planner Board of Standards, Inc. (CFP Board). It is awarded to individuals who have met the CFP Board's educational, examination, experience and ethical requirements. CFPs are financial planners who help individuals and organizations make sound financial decisions by providing advice on topics such as retirement planning, investments, tax planning, estate planning and insurance.

To become a CFP®, an individual must complete the following steps:

1. Complete a CFP Board-Registered Education Program

2. Pass the CFP Certification Examination

3. Meet the Experience Requirement

4. Agree to Abide by the CFP Board’s Code of Ethics and Professional Responsibility

5. Submit an Application for Certification

6. Receive Approval from the CFP Board

The entire process typically takes between 12-18 months to complete, depending on how long it takes an individual to complete their education program and pass their exam. The cost of becoming certified will vary depending on which education program you choose, but can range anywhere from $2,000-$10,000 or more in total expenses.

11. Enrolled Agent (EA)

An Enrolled Agent (EA) is a federally authorized tax practitioner who has technical expertise in the field of taxation and is empowered by the U.S. Department of the Treasury to represent taxpayers before all administrative levels of the Internal Revenue Service for audits, collections, and appeals.

To become an EA, applicants must pass a three-part comprehensive IRS exam on individual and business tax returns, or have at least five years of recent experience preparing federal tax returns for compensation. Once they meet these requirements, they must also pass a background check and take continuing education courses every three years to maintain their status as an EA.

The process of becoming an EA can take anywhere from six months to two years depending on how quickly you complete the necessary requirements. The cost to become an EA varies depending on which exam prep course you choose to take and whether or not you need additional help with studying for the exams. Generally speaking, it will cost between $1,000 - $2,500 to become an EA.

Do You Really Need a Accounting Consultant Certificate?

No, you do not need an accounting consultant certificate to become an accounting consultant. Although having a certificate may demonstrate your knowledge and expertise in the field of accounting, it is not a requirement for becoming an accounting consultant. Instead, the most important qualifications for becoming an accounting consultant include strong analytical and problem-solving skills, knowledge of financial analysis techniques and software packages, and experience in the field of finance or accounting.

Having a certificate from an accredited institution can be beneficial when applying for consulting jobs since it may show potential employers that you have taken the time to learn more about the profession and have devoted yourself to mastering its principles. Additionally, some employers may prefer candidates with formal education in accounting or finance related fields. However, having a certificate will not guarantee you success as an accountant – without the necessary skills, experience, and understanding of the industry, you won’t be able to provide effective services as a consultant.

In conclusion, while having an accounting consultant certificate can be beneficial when applying for jobs in this field, it is not necessary for becoming a successful consultant. Instead, what matters most are your analytical and problem-solving skills as well as your knowledge of financial analysis techniques and software packages.

Related: Accounting Consultant Resume Examples

FAQs About Accounting Consultant Certifications

1. What is an Accounting Consultant Certification?

Answer: An Accounting Consultant Certification is a professional designation that demonstrates a person’s expertise and knowledge in the field of accounting. It is typically awarded by a professional organization or educational institution after successful completion of an accredited program or examination.

2. What types of certifications are available for accounting consultants?

Answer: The most common certifications available for accounting consultants include Certified Public Accountant (CPA), Certified Management Accountant (CMA), Certified Internal Auditor (CIA), Chartered Global Management Accountant (CGMA) and Certified Fraud Examiner (CFE).

3. How do I become certified as an Accounting Consultant?

Answer: To become certified as an Accounting Consultant, you must first complete an accredited program or examination, depending on the type of certification you are seeking. Once you have completed your studies, you must then pass the relevant certification exam and meet any other requirements set by the awarding organization.

4. What is the cost of obtaining an Accounting Consultant Certification?

Answer: The cost of obtaining an Accounting Consultant Certification can vary depending on the type and length of program or examination taken. Generally speaking, costs for courses and exams range from $500 to $2000 USD, though this may be higher depending on individual circumstances.

5. How long does it take to obtain an Accounting Consultancy Certification?

Answer: The time required to obtain an Accounting Consultancy Certification can vary based on the type and length of program or examination chosen. Generally speaking, it takes anywhere from several months to two years to complete all necessary coursework and exams before becoming certified.