Top 11 Grant Accountant Certifications

Certifications are important for grant accountants in the job market because they demonstrate a level of expertise and knowledge that employers look for. They also show potential employers that the accountant has taken the time to acquire additional skills and knowledge, which can be a major benefit in an increasingly competitive job market. Certifications can also provide grant accountants with access to exclusive professional networks and resources, giving them an edge over other applicants. Finally, certifications can open up new career opportunities, allowing grant accountants to take on more complex projects or move into higher-level positions.

The purpose of this article is to provide an overview of the top certifications for Grant Accountants and explain how they can help to advance a grant accountant's career.

What are Grant Accountant Certifications?

Grant accountant certification is a specialized type of accounting certification that focuses on the specific skills and knowledge needed to manage grants awarded to an organization. This certification is offered by professional organizations such as the Association of Certified Grant Accountants (ACGA) and includes training in grant management, budgeting, financial reporting, and compliance. By becoming certified, grant accountants demonstrate their commitment to excellence in grant management and ensure they have the necessary expertise to handle the complex financial aspects associated with administering grants.

Having a grant accountant certification can help organizations ensure that their grant funds are properly managed in accordance with all applicable regulations and requirements. It also provides assurance that grantees are aware of the complexities involved in managing grants, enabling them to make sound decisions about how best to allocate resources for maximum impact. Additionally, having a certified grant accountant on staff will demonstrate an organization’s commitment to sound fiscal management practices and provide additional credibility when applying for future funding.

Pro Tip: Make sure to research the requirements and qualifications for grant accountant certification in your jurisdiction prior to beginning the process. Knowing the requirements ahead of time can help you plan and prepare accordingly, ensuring that you are able to receive your certification as quickly and efficiently as possible.

Related: What does a Grant Accountant do?

Top 11 Grant Accountant Certifications

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

1. Certified Government Financial Manager (CGFM)

Certified Government Financial Manager (CGFM) is a professional certification offered by the Association of Government Accountants (AGA). It is designed to recognize and promote excellence in government financial management. The CGFM certification demonstrates knowledge and proficiency in the areas of governmental accounting, auditing, financial reporting, budgeting, and internal controls.

It typically takes around two years to complete the requirements for the CGFM certification. To become certified, applicants must pass three exams: Governmental Environment, Governmental Accounting and Financial Reporting, and Governmental Budgeting and Finance. Applicants must also have at least two years of professional experience in government financial management or related fields.

The cost of obtaining the CGFM certification varies depending on which exam you are taking. The cost for each exam ranges from $175-$225 per part. Additionally, there is an application fee of $150 that must be paid when applying for the certification.

Overall, obtaining the CGFM certification can be a lengthy process but it can also be very rewarding as it demonstrates your commitment to excellence in government financial management.

2. 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 qualified professional who has passed the Uniform CPA Examination and met additional requirements set forth by state boards of accountancy. CPAs are highly trained in accounting, auditing, taxation, financial reporting, and other related areas.

It typically takes between two and five years to become a CPA. The first step is to obtain an undergraduate degree in accounting or a related field from an accredited college or university. Once you have your degree, you must then pass the Uniform CPA Examination. This exam consists of four sections: Auditing & Attestation; Business Environment & Concepts; Financial Accounting & Reporting; and Regulation. After passing the exam, you must also meet certain educational and experience requirements as set forth by your state's board of accountancy.

The cost to become a CPA varies depending on where you live and what type of program you choose. Generally speaking, it can cost anywhere from $2,000-$5,000 for tuition alone if you attend an accredited college or university program. Additionally, there are fees associated with taking the Uniform CPA Exam which can range from $150-$200 per section plus any applicable state fees.

3. Certified Management Accountant (CMA)

Certified Management Accountant (CMA) is a professional certification in the field of management accounting. It is offered by the Institute of Management Accountants (IMA), a global association of accountants and financial professionals. The CMA credential is designed to demonstrate mastery in financial planning, analysis, control, decision support, and professional ethics.

To become a Certified Management Accountant (CMA), you must meet certain educational and experience requirements and pass two exams administered by IMA. To qualify for CMA certification, you must have a bachelor’s degree from an accredited college or university with at least two years of professional experience in management accounting or financial management.

The CMA exam consists of two parts: Part 1 covers Financial Reporting, Planning, Performance & Control; and Part 2 covers Financial Decision Making. Each part contains 100 multiple-choice questions and requires approximately four hours to complete.

The cost to take the CMA exam varies depending on your country of residence. In the United States, it costs $415 for each part ($830 total). You can also purchase study materials such as textbooks and practice tests for additional fees.

It typically takes between six months to one year to prepare for the CMA exam depending on your level of preparation and commitment to studying. After passing both parts of the exam, you will receive your CMA certification within four weeks.

4. Certified Government Auditing Professional (CGAP)

Certified Government Auditing Professional (CGAP) is a professional certification program that is designed to recognize individuals who have achieved a high level of knowledge and proficiency in government auditing. It is offered by the Institute of Internal Auditors (IIA), a global association dedicated to advancing the practice of internal auditing.

The CGAP certification requires candidates to pass an examination that covers topics related to government auditing, such as risk management, financial reporting, internal control systems, audit methodologies and techniques, and fraud detection. The exam consists of 150 multiple-choice questions and must be completed within three hours.

To get the CGAP certification, candidates must first meet certain eligibility requirements. These include having at least two years of full-time experience in government auditing or related fields; having a bachelor’s degree from an accredited college or university; and passing the CGAP examination with a score of 70 percent or higher. Candidates must also complete 30 hours of continuing professional education every three years in order to maintain their certification status.

The cost for taking the CGAP exam varies depending on which country you are located in. In the United States, it costs $450 for members of the IIA and $550 for non-members.

5. Certified Internal Auditor (CIA)

Certified Internal Auditor (CIA) is a professional certification issued by the Institute of Internal Auditors (IIA). The CIA designation is designed to recognize individuals who have demonstrated a high level of knowledge and experience in internal auditing, control, and assurance.

To become a Certified Internal Auditor, candidates must meet certain educational requirements, pass an exam, and complete work experience. Candidates must have either a bachelor’s degree or higher from an accredited college or university or at least two years of professional experience in internal auditing.

The CIA exam consists of three parts: Part 1 – Internal Audit Basics; Part 2 – Practice of Internal Auditing; and Part 3 – Business Knowledge for Internal Auditing. Each part consists of 100 multiple-choice questions and takes four hours to complete.

Candidates are required to take all three parts within 12 months in order to be eligible for certification. The cost for each part is $450 USD plus applicable taxes. After successfully completing all three parts of the exam, candidates must submit their application for review by the IIA Certification Board. If approved, they will receive their official CIA certificate from the IIA after paying an additional fee of $100 USD plus applicable taxes.

Overall, it can take up to one year to complete the process for becoming a Certified Internal Auditor (CIA).

6. Certified Fraud Examiner (CFE)

A Certified Fraud Examiner (CFE) is a professional who has been trained and certified to detect, investigate, and prevent fraud. CFEs are experts in the areas of financial transactions, accounting principles, auditing procedures, investigative techniques, law, and ethics.

It typically takes between two to three years to become a CFE. The process begins with meeting the eligibility requirements set forth by the Association of Certified Fraud Examiners (ACFE). These include having at least two years of full-time professional experience in the detection or investigation of fraud or a related field; or having a bachelor’s degree in any field plus one year of full-time professional experience in the detection or investigation of fraud or a related field.

Once you meet the eligibility requirements, you must then pass an examination administered by ACFE. The exam consists of 200 multiple choice questions that cover topics such as fraud prevention and deterrence; financial transactions and fraud schemes; investigations; legal elements of fraud; and interviewing techniques.

The cost for taking the CFE exam varies depending on your ACFE membership status. For non-members, it costs $400 USD for members it costs $350 USD. There is also an additional fee for obtaining your certificate once you have passed the exam.

7. Certified Information Systems Auditor (CISA)

Certified Information Systems Auditor (CISA) is an internationally recognized certification that is awarded by the Information Systems Audit and Control Association (ISACA). It is designed to recognize professionals who have demonstrated expertise and knowledge in the areas of information systems auditing, control, and security.

To become a CISA, individuals must pass a rigorous exam that covers topics such as IT governance, risk management, audit process, application controls, system development life cycle, network security, business continuity planning and disaster recovery. The exam consists of 200 multiple choice questions and takes approximately four hours to complete.

In order to be eligible for the CISA exam, applicants must have at least five years of professional experience in one or more of the following areas: information systems auditing; control; security; assurance; or privacy. In addition to this experience requirement, applicants must also be members of ISACA in good standing.

The cost of taking the CISA exam varies depending on whether you are an ISACA member or non-member. For members, the cost is $575 USD while for non-members it is $760 USD. There may also be additional fees associated with registering for the exam depending on your location.

8. Chartered Global Management Accountant (CGMA)

Chartered Global Management Accountant (CGMA) is a professional designation granted by the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA). It recognizes professionals who have demonstrated mastery in both financial accounting and management accounting.

To obtain the CGMA designation, applicants must meet certain educational requirements and pass an exam. Applicants must have either a bachelor’s degree or higher in accounting or related field, or five years of relevant work experience in management accounting. In addition, they must complete a three-hour online assessment that tests their knowledge and understanding of financial reporting, management accounting, strategy, risk management and technology.

The CGMA exam takes approximately four hours to complete and consists of multiple-choice questions as well as written case studies. The exam fee is $650 USD for members of AICPA or CIMA, or $850 USD for non-members. After passing the exam, applicants will receive their CGMA designation within two weeks.

The CGMA designation is valid for three years after which time it must be renewed through continuing education credits. There is no additional cost associated with renewing the CGMA designation; however, applicants must maintain their membership in either AICPA or CIMA to remain eligible for renewal.

9. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation offered by the CFA Institute that measures and recognizes a person’s proficiency in investment analysis and portfolio management. The CFA designation is globally recognized as the highest standard of achievement in the field of investment management.

It typically takes four to five years to complete all three levels of the CFA program, depending on how quickly you are able to study and pass each level. Each level consists of multiple exams that must be completed within 18 months.

To become a CFA charterholder, candidates must meet certain requirements such as having at least four years of professional experience in finance, passing the three levels of exams, and agreeing to abide by the CFA Institute Code of Ethics and Standards of Professional Conduct.

The cost for taking all three levels of the CFA exam varies depending on when you register for each exam. Generally, it costs around $1,000-$2,000 USD per level, including registration fees and study materials.

10. National Association of State Boards of Accountancy (NASBA)

The National Association of State Boards of Accountancy (NASBA) is a non-profit organization that serves as the national voice for state boards of accountancy in the United States. The organization works to protect the public interest by promoting and maintaining high standards of professional practice in accounting, auditing, taxation, and other related fields.

NASBA provides a variety of services to its members, including educational programs and resources, advocacy on behalf of the profession, and a national examination system for certifying public accountants. To become certified as a CPA (Certified Public Accountant), individuals must pass the Uniform CPA Examination administered by NASBA. This exam is offered twice a year in May and November at testing centers across the country.

The cost for taking the CPA Exam varies from state to state but typically ranges from $800-$1,200. The exam consists of four sections: Auditing & Attestation (AUD), Financial Accounting & Reporting (FAR), Regulation (REG), and Business Environment & Concepts (BEC). Each section must be completed within 18 months before all scores expire.

In addition to passing the exam, candidates must meet certain education requirements set forth by their respective state board of accountancy. These requirements vary from state to state but typically include completing 150 semester hours or more of college-level coursework with an emphasis on accounting topics such as auditing and taxation.

Once all requirements have been met, applicants can apply for certification through their respective state board of accountancy. There may be additional fees associated with this process which vary depending on the jurisdiction.

11. American Institute of Professional Bookkeepers (AIPB)

The American Institute of Professional Bookkeepers (AIPB) is a professional organization that provides certification and educational programs to bookkeepers. It was established in 1987 and is the only national association for bookkeepers. AIPB’s mission is to promote the highest standards of professionalism, ethics, and competency among bookkeepers.

To become certified by the AIPB, you must pass an exam that covers topics such as accounting principles, payroll processing, financial statement preparation, tax compliance, and more. The exam consists of multiple-choice questions and takes about four hours to complete. The cost for the exam is $195.

In addition to passing the exam, applicants must also have at least two years of full-time bookkeeping experience or equivalent part-time experience within the past five years in order to be eligible for certification.

Once certified, members are required to maintain their credentials through continuing education courses every three years. This ensures that they stay up-to-date with changing laws and regulations related to bookkeeping and accounting practices.

The AIPB also offers a variety of resources for its members including online courses, webinars, conferences, newsletters, job postings, networking opportunities, and more.

Do You Really Need a Grant Accountant Certificate?

In short, it depends on what you want to do with your career. A grant accountant certificate can be a valuable tool for anyone who wants to work in the grant accounting field. It will provide you with the knowledge and skills needed to effectively manage grant funds and ensure that all money is spent appropriately.

However, if you are looking to work in the accounting field in general, then a grant accountant certificate may not be necessary. While having this certification can help you stand out from other applicants, there are many other factors that employers take into consideration when hiring someone for an accounting position. Your experience, education level, and references will all play a role as well.

Ultimately, it is up to you to decide if getting a grant accountant certificate is worth it or not. If you believe that having this credential will give you an edge over other applicants and make it easier for you to land an accounting job, then by all means go ahead and get certified. But if you feel that your current qualifications are enough for the type of job you’re applying for, then it may not be necessary for you at this time.

Related: Grant Accountant Resume Examples

FAQs About Grant Accountant Certifications

1. What is a Grant Accountant Certification?

Answer: A Grant Accountant Certification is a professional certification that demonstrates an individual's knowledge, skills and abilities in the areas of grant accounting. This certification is designed to help organizations meet their compliance requirements and ensure the accuracy of their financial records.

2. How do I become certified as a Grant Accountant?

Answer: To become certified as a Grant Accountant, you must complete an approved course of study from a recognized institution. You will also need to pass an examination administered by the granting agency or organization.

3. What are the benefits of obtaining a Grant Accountant Certification?

Answer: Obtaining a Grant Accountant Certification can help you gain credibility in the field, demonstrate your expertise to potential employers and clients, and open up opportunities for advancement within your organization or sector. It can also help you stay up-to-date on best practices and changes in grant accounting rules and regulations.

4. How long does it take to complete the certification process?

Answer: The amount of time it takes to complete the certification process varies depending on the program you choose and your level of experience with grant accounting principles and procedures. Generally speaking, most programs take between six months to one year to complete all requirements for certification.

5. Is there any continuing education required after obtaining my certification?

Answer: Yes, many organizations require continuing education credits (CEUs) to maintain your certification status over time. Depending on your organization’s policies, you may need to earn CEUs every two years or so in order to remain certified as a grant accountant.