Top 10 Revenue Accountant Certifications

Certifications are important for a revenue accountant in the job market because they demonstrate competence and knowledge in the field. Having certifications can give an applicant an edge over other candidates when applying for jobs. Certifications also show that the accountant is up to date on industry standards and has the necessary skills to perform their job effectively. Furthermore, certifications can open up new opportunities and career paths. Employers often prefer applicants who have specialized certifications related to their area of expertise as it indicates a higher level of competency and understanding of the accounting profession.

The purpose of this article is to provide an overview of the most beneficial certifications for Revenue Accountants and explain how they can help advance a revenue accountant's career.

What are Revenue Accountant Certifications?

Revenue accountant certification is a professional designation that recognizes the expertise of those who specialize in accounting related to revenue. Revenue accountants are responsible for preparing and maintaining financial records related to a company's revenue, including accounts receivable, accounts payable, and sales tax. Revenue accountants must have an understanding of Generally Accepted Accounting Principles (GAAP) and be familiar with relevant taxation laws.

Having a revenue accountant certification can help provide employers with assurance that the individual has the necessary skills to accurately record and report on their company’s financial information. It also demonstrates a commitment to continuing education and best practices in the field of accounting. By earning this certification, individuals can demonstrate their knowledge and expertise in areas such as auditing, taxation, financial analysis, budgeting, internal control systems, and more. With this certification, individuals may also be eligible for higher salaries or promotions within their current positions or find more attractive job opportunities outside of their current employer.

Pro Tip: Consider becoming a Certified Revenue Accountant to demonstrate your expertise in revenue accounting. This certification provides recognition of your knowledge and experience, as well as the opportunity to network with other professionals in the field.

Related: What does a Revenue Accountant do?

Top 10 Revenue Accountant Certifications

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

1. Certified Public Accountant (CPA)

A Certified Public Accountant (CPA) is a professional designation given to individuals who have met the educational, experience, and examination requirements set forth by their state’s board of accountancy. CPAs are licensed by their respective states to practice public accounting and provide services such as auditing, tax preparation, financial planning, and consulting.

To become a CPA, individuals must complete the following steps:

1. Earn a bachelor’s degree in accounting or related field from an accredited college or university.

2. Pass the Uniform CPA Examination administered by the American Institute of Certified Public Accountants (AICPA).

3. Meet experience requirements as determined by each state’s board of accountancy.

4. Obtain a license from the applicable state board of accountancy to practice as a CPA in that state.

The amount of time it takes to become a CPA varies depending on individual circumstances such as education level and work experience; however, it typically takes between two and four years to complete all the necessary requirements for licensure. The cost of becoming a CPA also varies depending on individual circumstances; however, it can range from several hundred dollars up to several thousand dollars for exam fees, licensing fees, continuing education courses, etc.

2. Certified Management Accountant (CMA)

Certified Management Accountant (CMA) is a professional certification that demonstrates expertise in financial planning, analysis, control, decision support, and professional ethics. The CMA program is offered by the Institute of Management Accountants (IMA) and is recognized worldwide as a standard of excellence for management accountants.

It typically takes 18-24 months to complete the CMA program requirements. To become a CMA, you must have at least a bachelor's degree from an accredited college or university, two years of professional experience in management accounting or financial management, and pass the CMA exam.

The exam consists of two parts: Part 1 covers financial planning, performance and control; Part 2 covers financial decision making. Each part has 100 multiple choice questions and two essay questions. The cost to take the exam is $415 for IMA members ($515 for non-members). Additionally, there are fees associated with study materials and preparation courses.

3. Certified Internal Auditor (CIA)

Certified Internal Auditor (CIA) is a certification offered by the Institute of Internal Auditors (IIA). It is a globally recognized professional designation that demonstrates an individual’s expertise in internal auditing, control, and assurance. The CIA certification is designed to demonstrate an individual’s knowledge and skills in the areas of risk management, control systems, audit techniques, and information technology.

The CIA certification process typically takes between six months to one year to complete. To become certified, applicants must meet certain eligibility requirements such as having a bachelor’s degree or higher from an accredited college or university and two years of professional experience in internal auditing or related fields. Applicants must also pass the three-part CIA exam which covers topics such as internal auditing standards, regulations and compliance, financial statement analysis, business processes and risk assessment.

The cost of obtaining the CIA certification can vary depending on the country you are located in. Generally speaking, it costs around $1,000 to $2,000 USD for the entire process including registration fees and exam fees.

4. Chartered Global Management Accountant (CGMA)

Chartered Global Management Accountant (CGMA) is a professional designation from the Association of International Certified Professional Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA). It is designed to recognize the expertise of management accountants in providing strategic advice, making decisions, and managing risk.

The CGMA designation requires successful completion of an exam, which typically takes between 3-6 months to complete. The exam consists of four parts: Financial Reporting and Analysis; Strategic Business Management; Performance Management; and Risk Management.

To become a CGMA, you must have a bachelor’s degree in accounting or related field, plus three years of professional experience in management accounting or finance. You must also pass the CGMA exam, which costs $250 for members of AICPA/CIMA and $350 for non-members.

5. Certified Revenue Cycle Professional (CRCP)

Certified Revenue Cycle Professional (CRCP) is a certification program that provides healthcare professionals with the knowledge and skills necessary to effectively manage the revenue cycle process. The program is offered by the Healthcare Financial Management Association (HFMA).

The program consists of an online self-assessment exam, followed by a three-day in-person course. The self-assessment exam covers topics such as financial management, coding and reimbursement, patient access, billing and collections, managed care contracting and compliance. After completing the self-assessment exam, participants must attend a three-day in-person course which covers topics such as financial operations, pricing strategies, reimbursement systems and regulations.

It typically takes about four to six months to complete the CRCP certification process. To become certified, candidates must pass both the online self-assessment exam and the three-day in-person course.

The cost of becoming certified depends on whether you are an HFMA member or nonmember. For members, the cost of the CRCP program is $1,995 for both parts (the online assessment and in-person course). For nonmembers, it is $2,495 for both parts.

6. Certified Government Financial Manager (CGFM)

Certified Government Financial Manager (CGFM) is a professional certification program sponsored by the Association of Government Accountants (AGA). The CGFM program is designed to recognize and promote excellence in government financial management. It certifies individuals who have achieved a high level of proficiency in the field of government financial management.

The CGFM program consists of three exams that must be passed in order to become certified. These exams are:

1. Governmental Environment

2. Governmental Accounting, Financial Reporting, and Budgeting

3. Governmental Financial Management and Control

The exams can be taken at any time throughout the year and are offered through Prometric Testing Centers located throughout the United States. Each exam costs $250, so the total cost for all three exams is $750. It typically takes between six months to one year to complete all three exams and become certified.

In order to take the CGFM examinations, applicants must meet certain eligibility requirements which include having a bachelor’s degree from an accredited college or university, two years of professional-level experience in government financial management, and passing a background check. Additionally, applicants must submit an application with supporting documentation to AGA prior to taking any examinations.

7. Accredited Business Accountant/Advisor (ABA/ABA)

Accredited Business Accountant/Advisor (ABA/ABA) is a professional credential that recognizes individuals who have achieved a high level of expertise in the field of business accounting and advisory services. ABA/ABA professionals are qualified to provide comprehensive financial advice, analysis, and guidance to businesses of all sizes.

The ABA/ABA credential is issued by the Accreditation Council for Accountancy and Taxation (ACAT). To qualify for the ABA/ABA designation, individuals must meet certain educational requirements, pass an exam, and demonstrate experience in the field. The exam covers topics such as financial statement preparation, taxation, auditing, and management consulting.

The process of obtaining an ABA/ABA credential typically takes between six months and one year. During this time, applicants must complete an accredited course of study or obtain a degree in accounting or finance from an accredited institution. They must then pass the ACAT exam with a score of at least 70%. Once they have met these requirements, applicants can apply for their ABA/ABA credential online or through mail.

The cost of obtaining an ABA/ABA credential varies depending on the institution offering it and other factors such as whether or not you need to take additional courses or exams. Generally speaking, however, you can expect to pay anywhere from $500 to $2,000 for your application fee and any associated costs such as books or materials.

8. Certified Government Auditing Professional (CGAP)

Certified Government Auditing Professional (CGAP) is a professional certification program offered by the Institute of Internal Auditors (IIA). It is a globally recognized credential for internal auditors who specialize in government audit and assurance services. The CGAP certification is designed to recognize the knowledge, skills, and abilities of those who have achieved a high level of proficiency in government auditing.

The CGAP certification process includes an application, exam, and review process. To become certified, applicants must pass a three-hour computer-based examination that covers topics such as risk assessment, internal control systems, financial management systems, performance measurement and reporting, audit techniques and procedures, ethics and professional practice standards.

The exam is administered at Prometric Testing Centers around the world. The cost of the exam varies depending on location but typically ranges from $400-$500 USD. The application fee for the CGAP program is $250 USD.

It typically takes 12-18 months to complete the entire CGAP certification process from application to taking the exam to receiving your certificate.

9. Certified Financial Services Auditor (CFSA)

A Certified Financial Services Auditor (CFSA) is a professional designation that recognizes individuals who have demonstrated the knowledge, experience, and skills necessary to audit financial services organizations. The CFSA designation is offered by the Institute of Internal Auditors (IIA).

To become a CFSA, an individual must meet certain prerequisites and pass an exam administered by the IIA. The prerequisites include having a bachelor’s degree in accounting or finance and at least two years of internal audit experience in financial services organizations.

The exam consists of 150 multiple-choice questions and takes approximately four hours to complete. It covers topics such as risk management, internal control systems, financial reporting, legal compliance, information technology, and operational auditing. Candidates must also submit an application form with their exam results in order to receive the CFSA designation.

The cost for taking the CFSA exam varies depending on where you take it. In some countries, there may be additional fees associated with registering for the exam or obtaining study materials. Generally speaking, however, the total cost of taking the CFSA exam should not exceed $1,000 USD.

10. Chartered Professional Accountant (CPA Canada).

Chartered Professional Accountant (CPA Canada) is a professional designation for accountants in Canada. It is the highest level of accounting qualification available in the country and is recognized internationally. The CPA designation is awarded by CPA Canada, which is a national body representing all provincial and territorial accounting bodies across the country.

To become a Chartered Professional Accountant (CPA), you must complete three stages of education, experience and examination. The first stage involves completing an undergraduate degree in business or accounting from an accredited university or college. The second stage requires completion of the CPA Professional Education Program (PEP), which consists of two years of coursework and examinations. Finally, you must pass the Common Final Examination (CFE) to become a fully qualified CPA.

The process typically takes five to six years to complete depending on how quickly you can complete each stage.

The cost for becoming a CPA varies depending on your province or territory, but generally ranges from $2,500 to $4,000 for tuition fees alone. This does not include costs associated with textbooks, study materials and exam fees.

Once you have completed all three stages of education and passed the CFE, you will be eligible to apply for membership with your provincial or territorial accounting body and receive your official CPA designation.

Do You Really Need a Revenue Accountant Certificate?

Whether or not you need a revenue accountant certificate depends on your individual situation. If you are looking to pursue a career in accounting, then having a certification could be beneficial. It could give you an edge over other applicants, and it could help demonstrate your knowledge of the field. Generally speaking, employers are more likely to hire someone with experience and/or certification than someone without either.

On the other hand, if you already have a degree in accounting or business, then it may not be necessary for you to obtain a revenue accountant certificate. In this case, it is important to assess how much extra benefit the certification will provide. While it can certainly help enhance your resume and impress potential employers, it may not be worth the time and money investment if you already have a solid foundation in accounting principles and practices.

In conclusion, whether or not you need a revenue accountant certificate depends on your own specific circumstances and goals. If you are looking to enter the field of accounting or increase your chances of getting hired for an accounting job, then obtaining a certification could be beneficial for you. However, if you already have significant experience or education in the field of accounting, then pursuing additional certifications may not be necessary.

Related: Revenue Accountant Resume Examples

FAQs About Revenue Accountant Certifications

Q1. What types of certifications are available for revenue accountants?

A1. Certified Revenue Accountant (CRA), Certified Government Financial Manager (CGFM), Certified Management Accountant (CMA), and Certified Public Accountant (CPA) are the four main certifications available for revenue accountants.

Q2. What is the difference between a CPA and a CRA?

A2. The CPA certification focuses on financial statement preparation and auditing while the CRA certification focuses more on taxation and compliance-related aspects of accounting.

Q3. How long does it take to become a certified revenue accountant?

A3. Depending on your experience level, it typically takes anywhere from six months to two years to become a certified revenue accountant.

Q4. Do I need a college degree to become a certified revenue accountant?

A4: Yes, you must have an undergraduate degree in accounting or related field in order to be eligible for most certifications offered by professional organizations such as AICPA or NASBA.

Q5: Are there any continuing education requirements for maintaining my certification?

A5: Yes, most certifications require that you complete continuing education credits every year in order to maintain your certification status.