Top 10 Business Controller Certifications

Certifications for business controllers are important in the job market because they demonstrate a level of professional expertise and knowledge that is often required by employers. Many employers prefer to hire those with certifications, as this provides them with the assurance that the candidate has met certain standards of performance and meets a minimum level of competence. Certifications also provide an employer with a way to measure the qualifications of potential candidates, as they can compare certifications held by different applicants. Additionally, certifications can help differentiate one candidate from another and make it easier for employers to narrow down their list of potential hires quickly.

The purpose of the article is to provide an overview of the top certifications for Business Controllers and discuss how they can help to enhance a Business Controller's career.

What are Business Controller Certifications?

Business Controller Certification is a professional designation that recognizes individuals who have demonstrated the knowledge and skills necessary to effectively manage and oversee the financial operations of an organization. This certification is aimed at helping businesses maximize their financial performance by improving the quality of their financial decision-making processes. It also provides individuals with the opportunity to demonstrate their expertise in accounting, budgeting, forecasting, internal controls, and other related areas.

The certification program consists of three levels: Level I for those seeking entry-level positions in business management; Level II for those already working as controllers or aspiring to become controllers; and Level III for experienced controllers looking to take on more complex roles within their organizations. The program requires participants to complete a series of courses and examinations that cover topics such as managerial accounting, financial reporting, cost accounting, auditing, internal control systems, taxation, and strategic planning. After completing all three levels of the program successfully, individuals can receive their official Business Controller Certification from a recognized institution or organization.

Having this certification can provide numerous benefits for both employers and employees alike. For employers it helps ensure that their finance team has the appropriate knowledge and skills needed to make sound financial decisions for the organization. For employees it can enhance job prospects by demonstrating their commitment to developing advanced business competencies. In addition, having this certification may qualify them for higher pay scales than non-certified professionals.

Pro Tip: When considering business controller certification, be sure to research the different types of certifications available and understand the requirements for each. Additionally, look for a program that offers continuing education opportunities so that you can stay up to date with the latest trends in the industry.

Related: What does a Business Controller do?

Top 10 Business Controller Certifications

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

1. 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 achieved excellence in management accounting and financial management. The CMA credential demonstrates expertise in financial planning, analysis, control, decision-support, and professional ethics.

It typically takes about one year to complete all the requirements for the CMA designation. To qualify for the CMA program, you must have an undergraduate degree from an accredited institution and two years of experience in management accounting or financial management. You must also pass two exams administered by IMA: Part 1: Financial Planning, Performance and Analytics; and Part 2: Strategic Financial Management.

The cost of the CMA program varies depending on where you are taking the exam and what type of materials you need to purchase. The total cost can range from $1,000 - $2,500. This includes registration fees for both parts of the exam, study materials such as textbooks or online courses, and any other associated costs such as travel expenses or lodging if needed.

Once you have completed all the requirements for the CMA designation, you will receive your certificate from IMA which will be valid for three years before needing to be renewed.

2. Certified Public Accountant (CPA)

A Certified Public Accountant (CPA) is a professional designation given to an individual who has passed the Uniform CPA Examination and has met all other requirements set by their state board of accountancy. CPAs are licensed by the state in which they practice, and are held to a higher standard of ethical conduct than non-CPAs.

In order to become a CPA, individuals must complete 150 semester hours of college credit and pass the Uniform CPA Exam. This exam consists of four sections: Auditing & Attestation, Financial Accounting & Reporting, Regulation, and Business Environment & Concepts. Each section is four hours long and tests candidates on their knowledge of accounting principles, auditing standards, tax regulations, business law, and other related topics.

The amount of time it takes to become a CPA varies depending on the individual's educational background and how quickly they can complete their coursework or review material for the exam. Generally speaking, it can take anywhere from two to five years to become a CPA.

The cost of becoming a CPA also varies depending on the individual's educational background and where they live. The cost typically includes tuition for any additional coursework needed to meet the 150 semester hour requirement; fees associated with taking the Uniform CPA Exam; application fees for applying for licensure in each state; and any additional continuing education courses required by each state board of accountancy.

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 credential is designed to demonstrate a mastery of internal auditing knowledge and skills, and it is held by more than 150,000 auditors in over 170 countries.

To become a Certified Internal Auditor, you must meet the following requirements:

• Have a bachelor's degree or higher from an accredited college or university
• Pass the three-part CIA exam
• Have at least two years of professional experience in internal auditing

The CIA exam consists of three parts: 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 one year of starting the program.

The cost to take the CIA exam varies depending on which country you are taking it in. Generally, it costs around $600 USD per part. Additionally, there may be additional fees associated with registration and other administrative costs.

Once you have successfully completed all three parts of the exam, you will receive your official Certified Internal Auditor designation. You will also receive a certificate and membership card from the IIA that will allow you to access exclusive resources and discounts available only to Certified Internal Auditors.

4. Chartered Global Management Accountant (CGMA)

Chartered Global Management Accountant (CGMA) is a professional designation for management accountants and financial professionals. It is 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 expertise in finance, accounting, strategy, and business analysis. The program provides access to exclusive resources, networking opportunities, and career development tools to help members stay ahead in their profession.

It typically takes two years to complete the CGMA program. To get the CGMA designation, you must first pass an exam administered by AICPA or CIMA. Once you have passed the exam, you must complete a series of courses offered through AICPA or CIMA. After completing the required coursework, you can apply for the CGMA designation.

The cost of obtaining the CGMA designation varies depending on which organization you use to take the exam and how many courses you take. Generally speaking, it costs around $1,500–$2,000 USD to obtain the CGMA designation.

5. Financial Risk Manager (FRM)

Financial Risk Manager (FRM) is a professional certification offered by the Global Association of Risk Professionals (GARP). The FRM designation is designed to help financial risk professionals assess and manage risk in banking, investment management, insurance, and other related industries. It is intended to provide a comprehensive understanding of financial risk management principles and practices.

The FRM exam consists of two parts: Part I focuses on quantitative analysis while Part II covers topics such as credit risk, operational risk, market risk, liquidity risk, and more. To become an FRM certified professional, you must pass both exams within three years.

The cost of the FRM program varies depending on your country of residence. In the United States, for example, the cost for both parts of the exam is $1,000 USD. This fee does not include any study materials or additional fees associated with registering for the exam.

In order to become an FRM certified professional you must first complete an approved course of study from one of GARP's approved educational providers. The length of time it takes to get your FRM certification depends on how quickly you can complete your coursework and prepare for the exams. Generally speaking, it can take anywhere from six months to two years to complete all requirements necessary for certification.

6. Certified Government Financial Manager (CGFM)

Certified Government Financial Manager (CGFM) is a credential offered by the Association of Government Accountants (AGA). It is designed to recognize those who demonstrate mastery in government financial management. The CGFM certification program is based on the body of knowledge for government financial management and related professional practices, as outlined by the AGA.

To obtain the CGFM credential, applicants must meet certain eligibility requirements and pass three examinations: Governmental Environment, Governmental Accounting, Financial Reporting & Budgeting, and Governmental Financial Management & Control. Each exam consists of 100 multiple-choice questions and must be completed within two hours.

The cost of the CGFM certification program varies depending on whether you are an AGA member or non-member. For members, each exam costs $225; for non-members, each exam costs $325. In addition, there is a one-time application fee of $150 for both members and non-members.

In total, it takes approximately 6 months to complete all three exams and receive your CGFM credential.

7. Certified Financial Planner (CFP)

Certified Financial Planner (CFP) is a professional certification awarded by the Certified Financial Planner Board of Standards, Inc. (CFP Board). The CFP designation is recognized as the highest standard in personal financial planning and is held by more than 80,000 professionals worldwide.

To become a CFP, an individual must complete a rigorous program of study that covers all aspects of financial planning. This includes topics such as investments, taxes, insurance, retirement planning, estate planning and risk management. In addition to completing the educational requirements, individuals must also pass a comprehensive exam administered by the CFP Board and have at least three years of relevant work experience.

The entire process typically takes between two and four years to complete depending on an individual’s background and experience level. To begin the process, individuals must first complete a CFP Board-approved course of study from one of the many universities or colleges that offer it. After completing this coursework, they must then pass the comprehensive exam which consists of two parts: a written portion and an oral interview.

The cost to become a CFP can vary greatly depending on where you take your classes and how long it takes you to complete them. Generally speaking, tuition for the required classes can range anywhere from $2,000-$10,000 depending on your institution of choice. Additionally, there are fees associated with taking the exam which can range from $300-$600.

8. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation awarded by the CFA Institute. It is a globally recognized credential for finance and investment professionals. The CFA program provides a strong foundation of real-world investment analysis and portfolio management skills that are essential for success in the financial industry.

The CFA program consists of three levels of examinations that must be completed in order to become a Chartered Financial Analyst. Each level requires approximately 300 hours of study, so it takes approximately 900 hours to complete the entire program.

In order to become a CFA charterholder, you must meet certain eligibility requirements, including having four years of qualified work experience in an investment decision-making role or passing all three levels of the CFA Program Exam within four years.

The cost to register for each level of the exam varies depending on when you register and whether you are eligible for any discounts. Generally speaking, it costs around $1,000 per exam plus additional fees for study materials and other related expenses.

9. Certified Business Analysis Professional (CBAP)

Certified Business Analysis Professional (CBAP) is a certification offered by the International Institute of Business Analysis (IIBA). It is designed to recognize professionals who have reached a level of proficiency in their business analysis skills and knowledge. The CBAP certification requires applicants to demonstrate their expertise in six knowledge areas: Business Analysis Planning and Monitoring, Elicitation and Collaboration, Requirements Life Cycle Management, Strategy Analysis, Requirements Analysis and Design Definition, and Solution Evaluation.

In order to obtain the CBAP certification, an applicant must meet certain eligibility criteria. These include having at least 7500 hours of business analysis experience within the past 10 years or having a minimum of 900 hours of business analysis experience within the past 4 years with 21 hours of professional development in the same time period. Additionally, applicants must pass an exam that consists of 150 multiple-choice questions covering all 6 knowledge areas. The exam takes 3 hours to complete and is administered by Pearson VUE Testing Centers worldwide.

The cost for taking the CBAP Exam varies depending on location but generally ranges from $325-$375 USD. There are also additional fees for recertification every 3 years which range from $125-$225 USD.

10. Accredited Business Valuator (ABV).

Accredited Business Valuator (ABV) is a professional designation granted by the Canadian Institute of Chartered Business Valuators (CICBV). It is a specialized accreditation that recognizes those who have demonstrated an advanced level of knowledge and expertise in the field of business valuation.

The ABV designation requires successful completion of a comprehensive examination, as well as at least five years of experience in the field. The exam covers topics such as financial statement analysis, business valuation methodology, legal and tax considerations, and ethical standards. In addition to passing the exam, applicants must also submit a portfolio demonstrating their experience in the field.

The process typically takes between six months to one year to complete. Applicants must first register with CICBV and pay an application fee before they can begin the process. Once registered, applicants must complete all required coursework and exams before submitting their portfolio for review. After successful completion of all requirements, applicants will receive their ABV designation from CICBV.

The cost for obtaining an ABV designation varies depending on factors such as course fees and exam fees. Generally speaking, it can range anywhere from $2,000 to $4,000 CAD or more.

Do You Really Need a Business Controller Certificate?

The short answer is no, you do not need a business controller certificate to be successful in business. However, having such a certificate can certainly help you get ahead in the world of business.

A business controller certificate shows employers that you have the knowledge and skills to be successful as a business controller or financial manager. Business controllers are responsible for overseeing the finances of an organization, and they must have strong analytical and problem-solving skills in order to be successful. A business controller certificate demonstrates that you have these skills, as well as the necessary training in accounting principles and financial analysis.

Having a business controller certificate also gives you an edge in salary negotiations when applying for jobs. Employers tend to view candidates with such credentials more favorably than those without them, and may offer higher salaries to those who possess them. In addition, having a certification may open up opportunities for promotions or other career advancements within your organization.

Finally, earning a business controller certificate can give you confidence that you possess the necessary qualifications for success in this field. This can help increase your motivation and dedication to achieving success as a financial manager or business controller.

Ultimately, whether or not you choose to pursue a business controller certificate is up to you. But if it’s something that interests you and would help boost your career prospects, then it may be worth considering taking the time to obtain one.

Related: Business Controller Resume Examples

FAQs About Business Controller Certifications

1. What is a Business Controller Certification?

Answer: A Business Controller Certification is a professional designation that demonstrates the holder’s knowledge and skills in the areas of financial management, accounting, budgeting, forecasting, analysis and reporting.

2. How do I become certified as a business controller?

Answer: To become certified as a business controller, you must pass an exam administered by an accredited certifying body such as the Institute of Management Accountants (IMA) or Certified Management Accountant (CMA).

3. What are the benefits of having a Business Controller Certification?

Answer: Benefits of having a Business Controller Certification include increased job opportunities, higher salaries, recognition from peers and employers, and access to additional education and training resources.

4. What are the requirements for maintaining my certification?

Answer: Requirements for maintaining your certification vary depending on what certifying body you use but generally require ongoing training and continuing education credits to remain current in the field.

5. Is there an age requirement for becoming certified?

Answer: No, there is no age requirement for becoming certified as a business controller; however some certifying bodies may have additional requirements such as experience or education level that must be met before taking their exam.