Top 10 Treasury Accountant Certifications

Certifications are essential for a treasury accountant in the job market because they demonstrate the individual’s knowledge and skill level. Certifications provide employers with assurance that the individual has the necessary expertise to handle treasury functions, such as cash management, financial analysis, and investment decision-making. Additionally, certifications show that an individual has gone beyond simply completing coursework and is committed to staying up-to-date on industry practices and trends. This can help make a treasury accountant stand out from other candidates and increase their marketability.

The purpose of this article is to provide an overview of the top certifications for Treasury Accountants and discuss how they can enhance a treasury accountant's career.

What are Treasury Accountant Certifications?

Treasury accountant certification is a professional credential that demonstrates an individual's ability to perform the specialized tasks and responsibilities of a treasury accountant. This certification is typically obtained from a professional organization such as the Association for Financial Professionals (AFP) or Certified Treasury Professional (CTP). The certification validates an individual's knowledge and understanding of key concepts related to treasury accounting, including financial forecasting, cash flow management, investment analysis, capital budgeting, and risk management.

Having this certification can provide many advantages to individuals working in the field of treasury accounting. It demonstrates their proficiency in the subject matter and helps them stand out among their peers. Those with this certification may be more likely to receive promotions or higher salaries within their organization. Additionally, having this certification can help treasury accountants gain recognition from potential employers outside their current organization. Finally, it can provide access to exclusive resources such as conferences, publications, or networking events that are only available to certified professionals.

Pro Tip: Pursuing a treasury accountant certification can be beneficial for those looking to advance their career in the treasury department. It is important to research the various certifications that are available and to understand the requirements for each one before committing to any particular program. Additionally, it may be useful to look into professional organizations related to treasury accounting that offer resources and support for those pursuing a certification.

Related: What does a Treasury Accountant do?

Top 10 Treasury Accountant Certifications

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

1. Certified Treasury Professional (CTP)

Certified Treasury Professional (CTP) is a professional certification program offered by the Association for Financial Professionals (AFP). It is designed to recognize individuals who have demonstrated expertise in treasury management and corporate finance. The CTP certification is highly sought after by employers and demonstrates a commitment to the profession of treasury management.

The CTP certification requires applicants to pass an exam that covers topics such as cash management, investments, banking services, risk management, international finance, and more. To be eligible for the CTP exam, applicants must have at least two years of experience in treasury or related financial fields.

The CTP exam takes approximately four hours to complete and consists of 150 multiple-choice questions. Candidates must score at least 70% on the exam to pass. The cost of taking the CTP exam varies depending on whether you are a member of AFP or not; members pay $450 while non-members pay $550.

Once candidates have passed the exam, they must maintain their certification status by completing 30 continuing education credits every three years. This can be done through attending conferences or seminars, reading publications related to treasury management, or taking online courses.

2. Certified Government Financial Manager (CGFM)

Certified Government Financial Manager (CGFM) is a professional certification program offered by the Association of Government Accountants (AGA). It is designed to recognize government financial managers who demonstrate knowledge and expertise in government financial management.

To become a CGFM, applicants must pass three examinations: Governmental Environment, Governmental Accounting and Financial Reporting, and Governmental Budgeting and Fiscal Policy. The examinations are administered by Prometric Testing Centers throughout the United States.

The cost of taking the exams varies depending on the number of exams taken. For example, if an applicant takes all three exams at once, it costs $350 per exam for a total cost of $1,050. If an applicant takes one exam at a time, it costs $450 per exam for a total cost of $1,350.

The amount of time it takes to get CGFM certification depends on how quickly an applicant can complete the required coursework and pass all three exams. Generally speaking, it can take anywhere from six months to two years to become certified.

In addition to passing the examinations, applicants must also meet certain educational requirements in order to be eligible for CGFM certification. These requirements include having a bachelor's degree or higher from an accredited college or university; having at least two years of full-time professional experience in government financial management; and completing 80 hours of continuing professional education credits every two years after being certified.

3. Association for Financial Professionals (AFP) Certified Treasury Manager (CTM)

The Association for Financial Professionals (AFP) Certified Treasury Manager (CTM) is a professional certification program for individuals who are responsible for managing the treasury and financial risk of an organization. The CTM credential is designed to demonstrate an individual’s commitment to their profession and their knowledge of treasury management principles.

The CTM program consists of two parts: a written exam and a performance-based assessment. To be eligible for the CTM, applicants must have at least three years of treasury management experience, or two years with a bachelor’s degree in finance or accounting.

The written exam covers topics such as cash flow analysis, debt financing, foreign exchange risk management, investments, liquidity management, risk management strategies, and working capital management. It takes approximately 4 hours to complete the exam.

To get the CTM credential, applicants must pass both the written exam and the performance-based assessment. The performance-based assessment consists of a case study that requires candidates to apply their knowledge of treasury principles to solve real-world problems. This portion of the certification process takes approximately four hours to complete.

The cost of obtaining the CTM credential varies depending on whether you are an AFP member or nonmember. For AFP members, it costs $750; for nonmembers it costs $1125.

4. Certified Public Accountant (CPA)

A Certified Public Accountant (CPA) is a professional designation that is earned by individuals who have successfully completed the necessary education, experience, and examination requirements set forth by their state boards of accountancy. CPAs are licensed to provide a variety of accounting services including auditing, taxation, financial planning, and consulting.

To become a CPA, you must first meet the educational requirements established by your state board of accountancy. Generally speaking, this includes completing 150 semester hours of college coursework with a concentration in accounting and business-related courses. You must also pass the Uniform CPA Examination administered by the American Institute of Certified Public Accountants (AICPA).

The process to become a CPA typically takes two to three years from start to finish. The amount of time it takes can vary depending on how quickly you complete your educational requirements and how long it takes you to pass the CPA exam.

To get started on your path towards becoming a CPA, you will need to research what specific educational requirements are needed in your state or jurisdiction as well as any additional licensing or registration fees associated with taking the exam. You will also need to decide which type of review course best fits your needs for studying for the exam.

The cost of becoming a CPA varies depending on several factors such as where you live and which review courses you choose to take. Generally speaking, most students spend around $2,000-$3,000 for all related costs associated with taking the exam including registration fees, study materials, and review courses.

5. Certified Internal Auditor (CIA)

Certified Internal Auditor (CIA) is a professional certification issued by The Institute of Internal Auditors (IIA). It is the most recognized certification for internal auditors, and it demonstrates an individual’s expertise in the field of internal auditing. The CIA credential is highly sought after by employers and can open up many career opportunities.

To become a Certified Internal Auditor, individuals must meet certain educational and experience requirements. They must have at least a bachelor's degree from an accredited college or university, plus two years of professional experience in internal auditing, control, or related fields.

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 has its own set of topics that must be studied before taking the exam. The entire process takes about 18 months to complete.

The cost to take the CIA exam varies depending on where you live and which testing provider you use. Generally speaking, it costs around $1,000 to take all three parts of the exam. There are also additional fees associated with applying for the certification itself, such as membership dues and application fees.

6. Chartered Global Management Accountant (CGMA)

Chartered Global Management Accountant (CGMA) is a professional designation for management accountants and finance 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 knowledge, experience, and competency in the field of management accounting.

The process to obtain the CGMA designation requires passing an exam and demonstrating relevant work experience. To be eligible to take the CGMA exam, individuals must have a bachelor’s degree in accounting or business-related field from an accredited college or university and at least three years of relevant work experience.

The CGMA exam consists of two parts: a written component that covers topics such as financial reporting, budgeting, cost management, performance measurement, risk management, decision analysis, and strategic planning; and an oral component that assesses candidates’ ability to apply their knowledge to real-world scenarios. The written portion can be taken online or at approved testing centers throughout the world. The oral portion must be taken at one of CIMA’s designated assessment centers.

The cost for taking the CGMA exam varies depending on location and whether you are taking it online or in person. In most cases, it will cost around $500 USD for both parts of the exam. Additionally, there may be additional fees associated with taking the oral portion depending on your location.

Once you have passed both components of the exam and demonstrated your relevant work experience, you will become a Chartered Global Management Accountant (CGMA). This designation is valid for five years before needing to be renewed through continuing education credits or re-examination.

7. Certified Management Accountant (CMA)

Certified Management Accountant (CMA) is a professional certification that is awarded to individuals who demonstrate expertise in the fields of financial planning, analysis, control, decision support, and professional ethics. This certification is offered by the Institute of Management Accountants (IMA).

To become a CMA, you must have a bachelor’s degree from an accredited college or university and meet certain experience requirements. You must also pass two exams: the CMA Exam Part 1 and the CMA Exam Part 2. The exams are administered by Prometric Testing Centers throughout the world.

It typically takes about 18 months to complete all of the requirements for becoming a CMA. The total cost to become a CMA can range from $1,000 to $2,500 depending on your study materials and exam fees.

The IMA also offers additional certifications such as Certified Financial Manager (CFM) and Certified Global Management Accountant (CGMA). These certifications require additional study and experience requirements beyond those required for the CMA certification.

8. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation given by the CFA Institute to financial and investment professionals. It is one of the most respected and recognized credentials in the finance industry. The CFA program covers a wide range of topics related to investments, including portfolio management, financial analysis, equity research, fixed income, alternative investments, and derivatives.

It typically takes four years to complete the CFA program. Candidates must pass three levels of exams in order to become a CFA charterholder. The exams are offered twice a year in June and December. To be eligible for the exam, candidates must have four years of qualified work experience in investment decision-making or have earned an undergraduate degree from an accredited university.

The cost of taking the CFA exams varies depending on when you register for them. Generally speaking, it costs around $1,000 per level if you register early; this includes registration fees and study materials. Additionally, there are other associated costs such as travel expenses if you choose to take your exams at a physical location rather than online.

In addition to passing all three levels of the exam, candidates must also adhere to the CFA Institute’s Code of Ethics and Standards of Professional Conduct in order to become a charterholder.

9. Chartered Institute of Management Accountants (CIMA)

The Chartered Institute of Management Accountants (CIMA) is the world’s largest professional body of management accountants. It is a global organization that sets the highest standards in management accounting and provides qualifications, training, and support to its members. CIMA offers a range of qualifications, including the globally recognized Chartered Global Management Accountant (CGMA).

It typically takes three to four years to complete the CIMA qualification. The program consists of three stages: Operational Level, Management Level, and Strategic Level. Each stage requires completion of exams and practical experience requirements.

To get started on the CIMA qualification, you must first become a member by registering with CIMA. Once you are registered as a student member, you can begin studying for your exams. You will need to purchase study materials from the CIMA website or from an accredited learning provider.

The cost of becoming a CIMA student member depends on your country of residence and whether you choose to pay for your membership annually or every two years. The cost also varies depending on which route you take – self-study or tuition provider – and whether you opt for online or printed study materials. Generally speaking, it costs around £200-£300 per year for membership fees plus additional exam fees each time you sit an exam.

10. International Association of Professional Treasury and Finance Professionals Accreditation Program

The International Association of Professional Treasury and Finance Professionals (IAPTP) Accreditation Program is a professional certification program designed to recognize the highest standards of excellence in treasury and finance professionals. The program provides a comprehensive assessment of an individual’s knowledge, skills, and abilities in the areas of financial management, treasury operations, banking, cash management, investments, risk management, and other related topics.

The IAPTP Accreditation Program consists of three levels: Associate (AAPT), Professional (PPT), and Master (MPT). Each level requires successful completion of an online exam that covers the core competencies for that level. The exams are offered at various times throughout the year at testing centers around the world.

To obtain accreditation at any level, applicants must first meet certain prerequisites such as having a minimum amount of experience or education in their field. Once these prerequisites have been met, applicants can apply to take the exam by submitting an application form along with proof of their qualifications.

Once accepted into the program, applicants will need to pay an enrollment fee which varies depending on the level they are applying for. After paying this fee, applicants will be given access to study materials and practice tests to help them prepare for the exam. Upon successful completion of the exam, applicants will receive their accreditation certificate from IAPTP.

The total cost for obtaining IAPTP accreditation depends on which level you are applying for and how much time you spend studying for it. Generally speaking though, it takes anywhere from 3-6 months to complete all three levels depending on how much time you dedicate to studying each day.

Do You Really Need a Treasury Accountant Certificate?

The short answer is no, you do not need a treasury accountant certificate to pursue a career in treasury accounting. However, obtaining a certificate can be beneficial in several ways. A treasury accountant certificate can provide recognition of your specialized knowledge and experience, demonstrate commitment to the profession, and give you an edge when seeking career advancement opportunities.

First, having a treasury accountant certificate can provide recognition of your specialized knowledge and experience in this field. Having the certification shows that you have taken the time to learn the necessary skills and gain experience needed for success as a treasury accountant. This will make it easier for potential employers to recognize your expertise and may even help you stand out among other applicants when applying for jobs.

Second, getting a treasury accountant certificate demonstrates commitment to the profession. It shows that you are dedicated to staying up-to-date on industry trends and regulations and have invested in learning what it takes to be an effective treasurer. This commitment also reflects positively on employers who will see that you are serious about your work and are willing to go above and beyond what is expected of you.

Finally, having a treasury accountant certificate gives you an edge when seeking career advancement opportunities. By having this certification, employers know that they can trust you with more complex tasks or higher positions within their organization due to your demonstrated knowledge of the field. Additionally, having the certification may open doors for networking opportunities or even further education in order to advance your career even further.

In conclusion, while it is not necessary to obtain a treasury accountant certificate in order to pursue a career in this field, doing so offers several benefits including recognition of your expertise, demonstrating commitment to the profession, and providing an advantage when looking for job or promotion opportunities. Therefore, if these benefits appeal to you then obtaining a treasury accountant certificate could be well worth it!

Related: Treasury Accountant Resume Examples

FAQs About Treasury Accountant Certifications

1. What is a Treasury Accountant Certification?

Answer: A Treasury Accountant Certification is a professional certification awarded by various organizations to individuals who demonstrate expertise in the field of treasury management. Treasury Accountants are responsible for managing and overseeing the financial resources of an organization, including cash flow, investments, and budgeting.

2. What are the benefits of obtaining a Treasury Accountant Certification?

Answer: Earning a Treasury Accountant Certification can help you stand out from other job candidates and increase your earning potential. It also provides recognition of your knowledge and experience in the field, which can lead to more opportunities for career advancement.

3. How do I become certified as a Treasury Accountant?

Answer: To become certified as a Treasury Accountant, you must complete an accredited program or pass an examination offered by a recognized certification body. In some cases, additional work experience may be required in order to be eligible for certification.

4. What is the cost of obtaining a Treasury Accountant Certification?

Answer: The cost of obtaining a Treasury Accountant Certification varies depending on the organization offering it and the type of program or exam required for certification. Generally speaking, costs may range from several hundred dollars up to several thousand dollars.

5. How long does it take to obtain a Treasury Accountant Certification?

Answer: The amount of time it takes to obtain a Treasury Accountant Certification depends on the type of program or exam required for certification and individual preparation time needed to successfully complete them. Generally speaking, it could take anywhere from several weeks up to one year or more depending on individual circumstances.