Top 11 Accounting Specialist Certifications

Certifications are important for accounting specialists in the job market because they provide evidence that an individual has a high level of expertise and knowledge in their field. Certifications demonstrate to employers that the individual is committed to their profession and have the necessary skills and qualifications to perform their job duties with confidence. Additionally, certifications can provide a competitive edge when applying for jobs since employers often prefer candidates who have achieved certain industry-specific certifications. With proper certification, accounting specialists can also increase their earning potential by gaining access to higher-paying jobs.

This article reviews and explains the benefits of some of the top certifications for Accounting Specialists, providing insight into how they can enhance an accounting specialist's career.

What are Accounting Specialist Certifications?

Accounting specialist certification is a professional credential that demonstrates an individual's knowledge and expertise in accounting. This certification is offered by various organizations, such as the Institute of Management Accountants (IMA), the American Institute of Certified Public Accountants (AICPA), and the National Association of Certified Public Bookkeepers (NACPB). The certification typically requires passing an exam that covers topics related to financial reporting, auditing, taxation, managerial accounting, and other areas of accounting.

Having this certification can help individuals stand out from other job candidates when applying for a position in the field of accounting. It can also provide evidence to employers that an individual has the necessary skills and knowledge to perform their job effectively. Additionally, having this certification may open up opportunities for advancement or higher-level positions within an organization. The specific benefits will depend on the type of position and organization being applied to. Generally speaking though, having this certification can help individuals demonstrate their competency in accounting and increase their chances of getting hired or promoted within their field.

Pro Tip: Make sure you understand the specific requirements for accounting specialist certification in your state or country before beginning the process. This will help you determine which courses and exams you need to take, as well as how long it will take to complete the certification process. Additionally, consider taking practice tests to become familiar with the material and prepare for any exams required for certification.

Related: What does an Accounting Specialist do?

Top 11 Accounting Specialist Certifications

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

1. Certified Public Accountant (CPA)

A Certified Public Accountant (CPA) is a professional designation given to an individual who has passed the CPA exam and met all other requirements set forth by the state in which they are licensed. CPAs are responsible for providing a variety of services, including auditing, accounting, tax preparation, financial planning and consulting.

It typically takes four years of college education to become a CPA. This includes completing at least 150 semester hours of college credit in accounting and related subjects such as business law, economics, finance and taxation. In addition to completing the educational requirements, individuals must also pass the Uniform CPA Examination administered by the American Institute of Certified Public Accountants (AICPA).

In order to get certified as a CPA, you must first meet the educational requirements set forth by your state board of accountancy. Once you have done this, you can then apply for licensure with your state board. The application process will include passing a background check and submitting transcripts from all post-secondary institutions attended. After submitting your application materials, you will need to take and pass the Uniform CPA Examination before being granted licensure.

The cost of becoming a CPA varies depending on where you live and what type of courses you take during your educational program. Generally speaking, it can cost anywhere from $1,000-$5,000 or more to complete the necessary coursework required for certification. Additionally, there is usually an examination fee associated with taking the Uniform CPA Exam which ranges from $200-$800 depending on where you live.

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 individuals who have demonstrated expertise in financial planning, analysis, control, decision support and professional ethics. The CMA credential is highly respected by employers in all industries and can open up career opportunities for those who achieve it.

To become a CMA, you must meet certain educational requirements and pass two rigorous exams. To qualify for the exam, you must have at least a bachelor’s degree from an accredited college or university, plus two years of professional experience in management accounting or financial management. You must also complete an IMA-approved course on strategic financial management before taking the exam.

The CMA exam consists of two parts: Part 1 – Financial Planning, Performance and Control; and Part 2 – Strategic Financial Management. Each part contains 100 multiple choice questions and requires approximately four hours to complete. The exam is administered twice per year in June and December at designated testing centers around the world.

The cost to take the CMA exam varies depending on your country of residence but typically ranges from $400-$1,000 USD for both parts combined. Additionally, there are annual membership fees associated with maintaining your certification that range from $50-$200 USD per year depending on your country of residence.

Overall, it usually takes 12-18 months to complete the entire process of becoming a Certified Management Accountant (CMA).

3. Certified Internal Auditor (CIA)

Certified Internal Auditor (CIA) is an internationally recognized professional certification offered by the Institute of Internal Auditors (IIA). The CIA certification demonstrates a mastery of internal auditing knowledge and understanding of the International Standards for the Professional Practice of Internal Auditing. It is designed to provide assurance to organizations that their internal audit activities are conducted in accordance with globally accepted standards.

The CIA program consists of three parts: Part 1: Essentials of Internal Auditing; Part 2: Practice of Internal Auditing; and Part 3: Business Knowledge for Internal Auditing. To become certified, candidates must pass all three parts.

It typically takes between 6-12 months to complete the certification process, depending on how much time you can dedicate to studying and preparing for each part.

To get the CIA certification, you must first meet certain eligibility requirements such as having a minimum of two years' full-time experience in internal auditing or a related field, or having obtained an approved degree from an accredited college or university in accounting or business administration. You will also need to submit an application form and pay a fee before taking any part exams.

The total cost for the CIA program varies depending on which country you are located in, but it typically ranges from $1,000-$2,000 USD including exam fees and study materials.

4. Certified Government Financial Manager (CGFM)

Certified Government Financial Manager (CGFM) is a professional certification program offered by the Association of Government Accountants (AGA). This certification is designed to recognize professionals who demonstrate high levels of expertise in government financial management. The CGFM designation is a mark of excellence and demonstrates that an individual has met the highest standards of professional practice.

The CGFM program consists of three separate exams: Governmental Environment, Governmental Accounting, Auditing & Financial Reporting, and Governmental Financial Management & Control. To receive the CGFM designation, candidates must pass all three exams within a five-year period.

To become certified, candidates must first submit an application to the AGA. Candidates are then eligible to register for the exams through Prometric Testing Centers or online through their website. The cost of the exam varies depending on which exam you are taking and whether you are taking it online or at a Prometric Testing Center. Generally speaking, each exam costs $125 if taken online and $150 if taken at a testing center.

Once all three exams have been passed within the five-year period, candidates will be awarded their CGFM designation and will be listed in the AGA's directory of certified professionals. There is also an annual fee associated with maintaining your CGFM designation which currently stands at $50 per year.

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). It recognizes individuals who have demonstrated expertise in management accounting, financial management and strategic business decision-making. The CGMA designation is recognized worldwide as a symbol of excellence in the field of management accounting.

To become a CGMA, you must have an undergraduate degree in accounting or related field and pass the AICPA’s Uniform CPA Exam. You must also have at least three years of relevant work experience in management accounting or financial management. Once these requirements are met, you can apply for the CGMA designation through the AICPA website.

The process to become a CGMA typically takes about six months from start to finish. After submitting your application, you will be required to take an online examination that tests your knowledge of management accounting and financial management principles. If you pass this exam, you will be awarded the CGMA designation and can begin using it on your resume and other professional documents.

The cost to become a CGMA varies depending on your membership status with the AICPA. For non-members, there is an initial fee of $250 plus an annual renewal fee of $50; for members, there is no initial fee but an annual renewal fee of $50.

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

Accredited Business Accountant/Advisor (ABA/ABV) is a professional designation that recognizes individuals who have achieved a high level of expertise in accounting and business consulting. ABA/ABV professionals are qualified to provide comprehensive financial advice, including tax planning, business strategy, budgeting, and more.

The ABA/ABV designation is offered by the American Institute of Certified Public Accountants (AICPA). To qualify for the designation, applicants must meet certain educational requirements and pass an exam. The exam consists of two parts: a written portion and an oral interview. The written portion covers topics such as accounting principles, taxation, auditing standards, corporate finance, and other related topics. The oral interview tests the applicant’s ability to apply their knowledge to real-world scenarios.

It typically takes between one and two years to complete the requirements for the ABA/ABV designation. During this time, applicants must complete coursework in accounting and business law as well as gain experience working in an accounting or consulting firm.

The cost of obtaining the ABA/ABV designation varies depending on the program chosen by the applicant. Generally speaking, it can range from several hundred dollars up to several thousand dollars. This includes both tuition costs and examination fees.

In addition to obtaining the ABA/ABV designation, many states require professionals with this certification to obtain additional licensing or certifications before they can practice in their state.

7. Certified Fraud Examiner (CFE)

A Certified Fraud Examiner (CFE) is a professional designation given by the Association of Certified Fraud Examiners (ACFE). The CFE credential is designed to recognize individuals who have demonstrated knowledge and expertise in the prevention, detection, and investigation of fraud. To become a CFE, an individual must pass the ACFE's rigorous four-hour CFE Exam.

The exam covers topics such as financial transactions, legal elements of fraud, investigative techniques, and fraud prevention. It also tests an individual's knowledge of relevant laws and regulations related to fraud examination. To be eligible for the exam, applicants must have at least two years of experience in accounting or law enforcement with direct involvement in investigating or detecting fraud.

It typically takes between 4-6 months to prepare for the exam and receive your results. The best way to get started is by enrolling in the ACFE’s online self-study program which includes practice exams and other resources to help you prepare for the CFE Exam.

The cost of obtaining a CFE credential varies depending on whether you are a member of the ACFE or not. For non-members, it costs $425 USD to take the exam plus an additional $100 USD fee for certification if you pass. For members, it costs $325 USD to take the exam plus an additional $50 USD fee for certification if you pass.

8. Certified Information Systems Auditor (CISA)

Certified Information Systems Auditor (CISA) is a professional certification awarded by the Information Systems Audit and Control Association (ISACA). It is designed to recognize professionals who have achieved a level of excellence in the field of information systems auditing, control, and security. CISA holders are typically employed in positions such as IT auditor, IT security analyst, or IT risk manager.

In order to become certified as a CISA, applicants must pass an examination that tests their knowledge of the five domains of IS audit and control:

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

5. Protection of Information Assets

The CISA exam is offered twice per year in June and December. The exam consists of 150 multiple-choice questions that must be completed within four hours. In order to apply for the exam, applicants must have at least five years of experience in IS audit, control or security work; however this requirement can be waived if they hold certain other certifications such as CISSP or CISM. Additionally, applicants must pay an application fee which varies depending on country ($100-$500). Upon successful completion of the exam, applicants will receive their CISA certification which is valid for three years before renewal is required.

9. Chartered Professional Accountant (CPA Canada)

Chartered Professional Accountant (CPA Canada) is an internationally recognized accounting designation that is granted by the Canadian Institute of Chartered Accountants (CICA). It is a professional designation for those who have met the educational, experience and examination requirements set by CICA.

The CPA program consists of three stages: the pre-requisite education, the Common Final Examination (CFE), and practical experience. To become a CPA, you must complete all three stages.

The pre-requisite education includes completing an undergraduate degree in business or accounting from an accredited university, as well as completing additional CPA preparatory courses. The CFE is a two-day exam that tests candidates on their knowledge of financial reporting, assurance services, strategy and governance, performance management, taxation and finance.

To get your CPA designation, you must also complete 30 months of practical experience in public practice or industry under the supervision of a qualified mentor. This experience must be completed within five years of passing the CFE.

The cost to become a CPA varies depending on your province/territory and which stage you are at in the program. In general, it costs approximately $1,500 to register for the pre-requisite courses; $1,000 to register for the CFE; and $2,000 to apply for membership with your provincial/territorial institute.

10. Certified Financial Planner (CFP®)

Certified Financial Planner (CFP®) is a professional designation granted by the Certified Financial Planner Board of Standards, Inc. (CFP Board). It is a voluntary certification that demonstrates an individual’s commitment to financial planning and their ability to provide comprehensive financial advice. To become a CFP®, individuals must meet specific education, examination, experience and ethics requirements.

The process of becoming a CFP® typically takes 3-4 years to complete. The first step is to complete the educational requirement which includes completing a college-level coursework in areas such as insurance, investments, taxes, retirement planning, estate planning and more. Once this requirement is met, individuals must then pass the CFP® Certification Examination which consists of two parts: the Financial Planning Knowledge Exam and the Professional Conduct & Regulation Exam. After passing both exams, they can then apply for certification with the CFP Board.

The cost of becoming a CFP® varies depending on several factors including educational expenses and exam fees. Generally speaking, it can cost anywhere from $2,000-$3,000 to become certified.

11. Enrolled Agent (EA).

Enrolled Agent (EA) is a designation granted by the Internal Revenue Service (IRS) to tax professionals who have demonstrated expertise in taxation. An Enrolled Agent is authorized to represent taxpayers before the IRS in all matters, including audits, collections and appeals.

It typically takes between three and six months to become an Enrolled Agent. To become an EA, you must pass the Special Enrollment Examination (SEE), which consists of three parts: Individual Taxation, Business Taxation and Representation, Practices and Procedures. The SEE is administered by Prometric testing centers throughout the United States. Once you’ve passed the exam, you must also submit an application for enrollment with the IRS.

The cost of becoming an Enrolled Agent varies depending on your state of residence and other factors such as whether or not you need to take a review course prior to taking the exam. Generally speaking, it can cost anywhere from $500-$2,000 to become an EA. This includes fees for taking the exam as well as any applicable review courses or materials needed to prepare for it.

In addition to passing the SEE, applicants must also meet certain criteria set forth by the IRS in order to be eligible for enrollment as an EA. These criteria include having a valid Social Security number; being at least 18 years old; being a U.S. citizen or resident alien; having no convictions related to dishonesty or breach of trust; and having professional experience in taxes that meets certain requirements set forth by the IRS.

Do You Really Need a Accounting Specialist Certificate?

An accounting specialist certificate is not a requirement for all accounting positions. Depending on the type of job you are seeking, a certificate may be beneficial in demonstrating your knowledge and experience in the field. However, if you are already employed in an accounting position or have a degree in accounting, then a certificate may not be necessary.

For those who want to pursue a career in accounting, but do not have any prior experience or education, then obtaining an accounting specialist certificate may be beneficial. It will provide you with the necessary training and knowledge to enter the field and increase your chances of finding employment. The certification also shows potential employers that you are serious about pursuing a career in this field and that you have taken the time to learn about it.

In addition to demonstrating your knowledge and commitment to the profession, an accounting specialist certificate can also help open doors for advancement opportunities within your current company or at another organization. With this certification, employers will know that you possess both technical skills and practical knowledge that can help them improve their financial operations.

Ultimately, whether or not you need an accounting specialist certificate depends on your individual career goals and experience level. If you are already employed in an accounting position or have a degree in the field, then it may not be necessary for you to obtain this certification. However, if you want to pursue a career in accounting or advance within your current role, then it could be beneficial to obtain this certification as it can demonstrate your commitment to the profession and give employers confidence that they are hiring someone with both technical skills and practical knowledge that can help their business succeed financially.

Related: Accounting Specialist Resume Examples

FAQs About Accounting Specialist Certifications

1. What are the benefits of getting an Accounting Specialist Certification?

Answer: An Accounting Specialist Certification can provide you with the knowledge and expertise necessary to advance in your career, increase job opportunities, and show employers that you possess a specialized skill set. It can also lead to higher wages, as employers often recognize certifications as a sign of competency.

2. What is the difference between an Accounting Specialist Certification and a CPA certification?

Answer: A CPA (Certified Public Accountant) certification is required for certain positions such as auditor or public accountant and requires passing an exam administered by the state board of accountancy. An Accounting Specialist Certification does not require passing an exam and is typically focused on specific accounting skills related to a particular industry or area of expertise.

3. How long does it take to complete an Accounting Specialist Certification?

Answer: The length of time it takes to complete an Accounting Specialist Certification depends on the program you choose and how much time you are able to dedicate to studying each week. Most programs range from one semester to one year, depending on whether they are offered online or in-person.

4. Are there any prerequisites for enrolling in an Accounting Specialist Certification program?

Answer: Generally speaking, there are no formal prerequisites for enrolling in an Accounting Specialist Certification program; however, some programs may require applicants to have prior experience in accounting or finance before they can be accepted into the program. It’s best to check with individual schools for their specific requirements before applying.

5. How much does it cost to get an Accounting Specialist Certification?

Answer: The cost of obtaining an Accounting Specialist Certification varies depending on the school and program chosen; however, most programs cost between $500-$3000 USD including tuition fees and materials costs such as textbooks or software subscriptions.