Top 11 Cost Controller Certifications

Certifications are incredibly important for a cost controller in the job market. Certifications give employers confidence that their potential employee has the knowledge and skills required to manage and control costs effectively. Certified cost controllers demonstrate their commitment to the profession and can provide assurance that they have met industry standards of excellence. Additionally, certifications can help cost controllers stand out from other applicants and may lead to higher salaries or more job offers.

This article reviews the top certifications for Cost Controllers and explains how they can help further a cost controller's career.

What are Cost Controller Certifications?

Cost Controller Certification is a professional certification program that teaches individuals how to analyze, control, and manage organizational costs. The program focuses on the principles of cost accounting and budgeting, as well as techniques for identifying and eliminating wasteful spending. It also provides guidance on how to prepare and present financial reports that accurately reflect an organization’s current financial condition. Cost Controller Certification can help individuals gain a better understanding of the fundamentals of cost accounting and budgeting, which can be invaluable in today’s business environment. With this knowledge, professionals can more effectively identify areas where their organization can save money by reducing or eliminating wasteful spending. Additionally, they will be able to create accurate financial reports that clearly demonstrate an organization’s current financial health, which is important for both internal decision-making and external reporting requirements. Finally, those with Cost Controller Certification are better equipped to understand the impacts that different cost saving measures can have on an organization’s bottom line.

Pro Tip: Consider getting certified as a cost controller. This certification will demonstrate your knowledge and understanding of the various components involved in controlling costs and managing budgets, which can help you stand out from other job applicants. Additionally, this certification can provide you with the credibility needed to negotiate higher salaries and better job opportunities.

Related: What does a Cost Controller do?

Top 11 Cost Controller Certifications

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

1. Certified Cost Professional (CCP)

Certified Cost Professional (CCP) is a certification program administered by the Association for Cost Engineering International (AACEI). It is designed to recognize individuals who demonstrate expertise in cost engineering, cost estimating, and financial analysis. To become certified, individuals must pass an exam that covers topics such as cost engineering principles, project management, and financial analysis.

The CCP exam consists of 200 multiple-choice questions and takes approximately four hours to complete. The exam fee is $450 for AACEI members and $550 for non-members.

In order to be eligible to take the CCP exam, applicants must have a minimum of five years of professional experience in cost engineering or related fields, or three years of experience plus a bachelor's degree from an accredited college or university. Applicants must also submit a completed application form and two letters of recommendation from current or former employers.

Once the application has been approved, applicants will receive information on how to register for the exam. After passing the exam, applicants will receive their official CCP certification from AACEI.

2. 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 recognizes individuals who have demonstrated expertise in the field of government financial management. It is designed to provide assurance to the public and other stakeholders that those with this certification are knowledgeable and competent in managing government finances.

To become a CGFM, you must meet certain educational and experience requirements, pass three exams, and adhere to a code of ethics. The three exams are: Governmental Environment, Governmental Accounting and Financial Reporting, and Governmental Financial Management and Control. Each exam consists of multiple-choice questions covering topics such as budgeting, accounting, auditing, financial reporting, internal control systems, debt management, investments, risk management, procurement/contracts/grants management, and information technology.

It typically takes approximately one year to complete all requirements for the CGFM designation. The cost for taking the exams is $125 each ($375 total). Additionally there is an application fee of $50.

3. Certified Public Accountant (CPA)

A Certified Public Accountant (CPA) is a professional designation that demonstrates a person has met the educational, experience and examination requirements set by the state in which they practice. CPAs are responsible for preparing financial statements, providing tax advice, auditing financial records, and offering other accounting services to both individuals and businesses.

In order to become a CPA, you must first meet the education requirements of your state board of accountancy. Generally, this requires at least 150 semester hours of college-level coursework with an emphasis on accounting and business courses. You will also need to pass the Uniform CPA Exam administered by the American Institute of Certified Public Accountants (AICPA).

The length of time it takes to become a CPA depends on how quickly you can complete the educational requirements and pass the exam. It typically takes anywhere from two to five years or more depending on your situation.

Once you have met all of your state’s requirements, you can apply for licensure with your state board of accountancy. The application process includes submitting an application form along with any required fees or documents such as transcripts or proof of work experience. Once approved, you will receive your CPA license number and be able to use the title “Certified Public Accountant” in connection with your professional activities.

The cost associated with becoming a CPA varies greatly depending on where you live and what type of program you choose to pursue. Costs may include tuition fees for college courses, exam fees, application fees for licensure, continuing education costs, and membership dues for professional organizations like the AICPA.

4. Certified Management Accountant (CMA)

Certified Management Accountant (CMA) is a professional certification in the field of management accounting. It is awarded by the Institute of Management Accountants (IMA), a global professional association for accountants and financial professionals in business. The CMA designation is recognized around the world as a symbol of expertise and commitment to the highest standards of ethical and professional practice.

To earn the CMA, you must meet certain educational requirements, pass two parts of an exam, and have two years of professional experience in management accounting or financial management. The exam consists of two parts: Part 1 covers financial planning, analysis, control, decision support, and professional ethics; Part 2 covers financial decision-making, planning, performance measurement, cost management, internal controls, and strategic management.

It typically takes between six months to one year to complete all requirements for the CMA designation. This includes studying for both parts of the exam and completing your work experience requirement.

The cost to become a CMA varies depending on your country or region but generally ranges from $500-$1,000 USD for IMA membership fees plus additional fees for study materials and exam registration.

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 is designed to recognize the expertise and experience of accounting professionals working in the field of management accounting.

To become a CGMA, you must meet certain educational and experience requirements. You must have a bachelor’s degree in accounting or related field from an accredited university, plus two years of professional experience in management accounting or financial management. You must also pass an exam administered by either AICPA or CIMA.

The exam typically takes three hours to complete and consists of multiple-choice questions covering topics such as financial reporting, budgeting, cost management, performance measurement, strategic planning, internal control systems, risk management, and decision-making. The cost of taking the exam varies depending on which organization administers it; however, it typically ranges from $200-$400 USD.

Once you have passed the exam, you will receive your CGMA designation and may use it to demonstrate your expertise in management accounting to employers or clients.

6. Certified Internal Auditor (CIA)

Certified Internal Auditor (CIA) is a professional certification offered by the Institute of Internal Auditors (IIA). It is the most widely recognized internal audit designation in the world and is designed to demonstrate an individual’s commitment to the profession and their expertise in internal auditing.

The CIA certification requires individuals to pass a three-part exam that covers topics such as risk assessment, control environment, information technology, and fraud examination. The exam can be taken at any IIA-approved testing center around the world.

It typically takes between 6-12 months to prepare for the CIA exam. This includes studying for the exam, attending classes or seminars, and taking practice exams.

To become a CIA, you must meet certain eligibility requirements. These include having a bachelor’s degree from an accredited college or university, two years of professional experience in internal auditing or related fields, and passing all three parts of the CIA exam with a score of at least 70%.

The cost of becoming a Certified Internal Auditor varies depending on where you take your coursework and how you study for the exam. Generally speaking, it will cost anywhere from $1,000-$2,500 USD to become certified. This includes fees for registration, textbooks, study materials, and other expenses associated with preparing for the exam.

7. Certified Government Auditing Professional (CGAP)

Certified Government Auditing Professional (CGAP) is a professional certification program designed to recognize the knowledge and skills of auditors who work in the public sector. The CGAP program is administered by the Institute of Internal Auditors (IIA) and is recognized worldwide.

The CGAP certification requires a minimum of two years of full-time auditing experience in the public sector, including at least one year in a supervisory role. Applicants must also pass an exam that covers topics such as government accounting, internal controls, fraud prevention, risk management, and financial reporting.

To get certified as a CGAP, applicants must first register with the IIA and pay an application fee. After registering, applicants can take the online exam at any time. The exam consists of 150 multiple-choice questions and takes approximately four hours to complete.

The cost for taking the CGAP examination varies depending on your country or region; however, it typically ranges from $200 to $400 USD. Additionally, there may be additional fees associated with renewing your certification every three years.

8. Certified Fraud Examiner (CFE)

Certified Fraud Examiner (CFE) is a professional certification offered by the Association of Certified Fraud Examiners (ACFE). It is an internationally recognized credential that demonstrates an individual’s knowledge and expertise in the prevention, detection and investigation of fraud. The CFE credential is highly sought after by employers seeking to hire individuals with specialized skills in fraud examination.

It typically takes between 6-12 months to complete the requirements for the CFE credential. To become certified, candidates must first pass the four-hour CFE Exam, which tests their understanding of fraud examination techniques, legal elements of fraud, financial transactions and investigative procedures. Candidates must also meet experience requirements and agree to abide by the ACFE Code of Professional Ethics.

The cost to become a CFE varies depending on whether you are already an ACFE member or not. For non-members, it costs $400 for the application fee plus $395 for the exam fee. For ACFE members, it costs $295 for the application fee plus $295 for the exam fee.

9. Accredited Business Valuator (ABV)

Accredited Business Valuator (ABV) is a professional designation that provides the holder with the necessary skills and knowledge to accurately assess the value of businesses. The ABV credential is offered by the American Society of Appraisers (ASA), which is an international organization dedicated to providing education and certification in business valuation.

The ABV program consists of two parts: a comprehensive exam and a practical experience requirement. The exam covers topics such as financial statement analysis, industry trends, economic conditions, and appraisal methodology. The practical experience requirement requires at least three years of business valuation experience under the supervision of an ASA-accredited appraiser.

In order to become an Accredited Business Valuator (ABV), you must first complete all educational requirements for the program. This includes taking courses from accredited institutions, attending seminars, and completing online courses. Additionally, you must pass the comprehensive exam administered by ASA. Once you have completed all educational requirements and passed the exam, you will need to submit your application for accreditation with ASA.

The cost of becoming an Accredited Business Valuator (ABV) varies depending on your individual circumstances but typically ranges from $1,000-$3,000 USD. This cost includes registration fees for both the exam and application process as well as any additional costs associated with obtaining required course materials or attending seminars.

Once you have been accepted into the program, it typically takes between 6 months and 1 year to complete all requirements and obtain your certification as an Accredited Business Valuator (ABV).

10. Project Management Professional (PMP)

Project Management Professional (PMP) is a certification program offered by the Project Management Institute (PMI). It is designed to recognize individuals who have demonstrated knowledge and experience in project management. The PMP credential is one of the most sought-after certifications in the field of project management.

In order to obtain the PMP credential, applicants must meet certain eligibility requirements, including having at least three years of professional project management experience and 4,500 hours leading and directing projects. Additionally, applicants must pass an exam that tests their knowledge in five areas: initiation, planning, execution, monitoring & controlling, and closing.

The exam consists of 200 multiple-choice questions and takes four hours to complete. The cost of the exam varies depending on whether you are a PMI member or not; for non-members it costs $555 USD while for members it costs $405 USD.

Once you have successfully passed the exam you will receive your PMP certification which is valid for three years. After three years you will need to renew your certification by earning 60 professional development units (PDUs) over a three year period.

11. Six Sigma Green Belt Certification

Six Sigma Green Belt Certification is a professional certification that demonstrates an individual’s knowledge and proficiency in the Six Sigma methodology. It is designed to help professionals improve processes, reduce costs, and increase customer satisfaction. The certification is typically earned after completing an accredited training program or passing a comprehensive exam.

The length of time it takes to get certified depends on the type of program you choose. Most programs are completed in three to six months, but some can take up to two years or more. Generally speaking, the longer the program, the more comprehensive it will be and the higher your chances of passing the exam.

To get certified, you must first complete an accredited Six Sigma Green Belt Training Program. These courses are offered by universities, colleges, and other educational institutions around the world. Once you have completed your coursework, you must pass a comprehensive exam administered by an accredited organization such as ASQ (American Society for Quality).

The cost of getting certified varies depending on where you take your courses and how long they last. Generally speaking, courses range from $1,000 to $5,000 depending on their length and complexity. Additionally, there may be additional fees associated with taking the exam such as registration fees or travel expenses if you need to take it at an off-site location.

Do You Really Need a Cost Controller Certificate?

The answer to this question depends largely on the type of career you wish to pursue. If you are looking to become a cost controller, then having a cost controller certificate can be very beneficial. This type of certification demonstrates that you have the knowledge and skills necessary to effectively manage costs and budgets within an organization. It can also provide employers with assurance that you are qualified for the job and will be able to efficiently handle their financial operations.

That being said, it is not always necessary for someone to obtain a cost controller certificate in order to obtain a job in cost control or budgeting. Many organizations simply require applicants to have experience in managing finances, which may include working as an accountant or bookkeeper. Additionally, many companies prefer candidates with advanced degrees in accounting or finance.

Having a cost controller certificate can certainly give you an edge when looking for jobs in the field, but it is ultimately up to you whether or not obtaining such certification is worth your time and money. Do some research into what kind of positions may be available in your area before deciding whether or not getting certified is right for you.

Related: Cost Controller Resume Examples

FAQs About Cost Controller Certifications

1. What is a Cost Controller Certification?

Answer: A Cost Controller Certification is a professional qualification that shows an individual has the knowledge and skills to manage the cost of business operations. It demonstrates that the holder has a broad understanding of financial management, budgeting, forecasting, and cost analysis.

2. How do I become certified as a Cost Controller?

Answer: To become certified as a Cost Controller, you must complete an approved training program or course in cost control and meet any additional requirements set by your employer or certification body. You may also need to have relevant work experience and pass an examination.

3. What are the benefits of becoming a Certified Cost Controller?

Answer: Becoming a Certified Cost Controller can help you stand out in the job market, demonstrate your expertise in managing costs and budgets, and give you greater credibility with employers. It can also lead to better job opportunities and higher salaries.

4. How long does it take to get certified as a Cost Controller?

Answer: The amount of time it takes to get certified as a Cost Controller depends on how much preparation you put into it beforehand. Generally speaking, it can take anywhere from several months to over a year depending on the program or course you choose, your current level of experience, and other factors like exam preparation time.

5. Is there an exam required for certification?

Answer: Yes, most certification bodies require candidates to sit for an exam in order to obtain their certification. The format of these exams varies from one organization to another but typically involves multiple-choice questions related to topics such as finance management and cost analysis principles.