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Can CMA complement CFA?

Hi,

I’m thinking about taking CMA. I can’t take CPA because I’m not an accounting major and I don’t have time to go back to school to get the credits I need. What I want is a very strong fundamental analysis skill set, able to analyze financial statements and equity investments to microscopic level like Warren Buffet. I’ve heard that Buffet is very good at accounting although he doesn’t have any related designation.

I’m not sure if CMA can provide enough accounting and financial analysis knowledge, and I know it’s way inferior to CPA. Currently I have no intention working in accounting. I’m more interested in equity and investment research & analysis. I just passed CFA level 2 and will take level 3 next year.

Any inputs will be appreciated.

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In my opinion, the CMA will not help you achieve your goals.  It does cover some areas not covered by the CFA, but not a lot.  For a long time, the CPA was four tests, each 3 to 4 hours long.  When I did the CMA, it was four tests, each 3 to 4 hours long.  About 10 years ago, CMA reduced to just two tests.  Even with four tests, it seemed to me that the CMA was at a lot more basic level.

I also believe CMA will not help you professionally.  It is not widely known.

My take on the reason for the CMA - Management accountants noticed that at a party, if a CPA walked in, all those of the other gender threw themselves at the person.  Management accountants wanted the same prestige, so they formed CMA.  It has not worked.  I spent 15 years working in accounting and finance at GE, and never heard of CMA.  Those of the other gender do not throw themselves at a CMA.  Most people have no idea what CMA stands for.  Management accountants need to hire some good marketing people.

Just so you know that I do know something about this, my background - Doctorate in Business, with a major in Finance (2005); CMA (2009); CPA (2013); CFA - Level I (June 2019).

CMAs in Canada successfully sneaked into the ranks of CPA. Now CPA Canada has over 200,000 members.

I’ve never watched the Country Music Awards, so I don’t honestly know.

wink

Simplify the complicated side; don't complify the simplicated side.

Financial Exam Help 123: The place to get help for the CFA® exams
http://financialexamhelp123.com/

S2000magician wrote:

I’ve never watched the Country Music Awards, so I don’t honestly know.

wink

What would you say for CIA certification?

play it again, Sam

Flashback wrote:
S2000magician wrote:
I’ve never watched the Country Music Awards, so I don’t honestly know.

wink

What would you say for CIA certification?

If I got it I’d be a CFA spook.

Simplify the complicated side; don't complify the simplicated side.

Financial Exam Help 123: The place to get help for the CFA® exams
http://financialexamhelp123.com/

It’s quite same. Nobody likes spies nor internal controls.

play it again, Sam

imthekingoftheworld wrote:

CMAs in Canada successfully sneaked into the ranks of CPA. Now CPA Canada has over 200,000 members.

And the Certified General Accountants got in the CPA mix too!!

“Mmmmmm, something…” - H. Simpson

breadmaker wrote:

imthekingoftheworld wrote:

CMAs in Canada successfully sneaked into the ranks of CPA. Now CPA Canada has over 200,000 members.

And the Certified General Accountants got in the CPA mix too!!

exactly! are you Canadian?

imthekingoftheworld wrote:

breadmaker wrote:

imthekingoftheworld wrote:

CMAs in Canada successfully sneaked into the ranks of CPA. Now CPA Canada has over 200,000 members.

And the Certified General Accountants got in the CPA mix too!!

exactly! are you Canadian?

Sure am, eh!

“Mmmmmm, something…” - H. Simpson