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CMA vs CFA

I’ve heard that CMA is easier than CFA. Can anyone confirm? I know that both are kind of different however i have checked the second part of the CMA which is about financial decision making and a lot of it seems to be from level 1 plus it’s only 1 book.

Any thoughts especially from those holding CMA title?

Improvise, adapt, overcome

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if you like Debit and Credits go for it, effortwise, I think you can get it done with half the effort of any level that you’ve done for CFA IMO

- Guille

I think CMA is compared to Level I CFA in terms of difficulty

Again..A rule of thumb:

Nothing beats the CFA

CFA comes first then others follow..like CPA CAIA CMA CA CIA .. All easier than CFA

I come from an accounting background and seems to me that a 2 part exam with 2 books cannot be compared to CFA. CMA part 2 has financial statement analysis, close to level 1 even easier, then moves to wacc, npr, irr, few pages about mergers and acquisitions, and few introductory paragraphs about fixed income. seems easy to me and pretty much doable in 2 months period if i put 4 hrs a day.

Improvise, adapt, overcome

Bilal Wrote:
——————————————————-
> I’ve heard that CMA is easier than CFA. Can anyone
> confirm? I know that both are kind of different
> however i have checked the second part of the CMA
> which is about financial decision making and a lot
> of it seems to be from level 1 plus it’s only 1
> book.
>
> Any thoughts especially from those holding CMA
> title?

I have it. it requires less effort than whats required for the CFA. The focus is on Accounting as a person working inside the firm.

Great then, in case i failed level 2, i will sit for the exam in september since i know most of the part 2 material. are 200 hrs enough?

Improvise, adapt, overcome

“CFA comes first then others follow..like CPA CAIA CMA CA CIA .. All easier than CFA”

Mostly true, but if you think the CPA is easier than the CFA, put down whatever you’re smoking, because it can’t be good for you.

——————————————————————-
If you think hiring a professional is expensive…
wait until you’ve hired an amateur.

blue-eyed-samurai Wrote:
——————————————————-
> “CFA comes first then others follow..like CPA CAIA
> CMA CA CIA .. All easier than CFA”
>
> Mostly true, but if you think the CPA is easier
> than the CFA, put down whatever you’re smoking,
> because it can’t be good for you.

CPA is easier than CFA.
This is announced by CPAs themselves.

Nightmare55 Wrote:
——————————————————-
> blue-eyed-samurai Wrote:
> ————————————————–
> —–
> > “CFA comes first then others follow..like CPA
> CAIA
> > CMA CA CIA .. All easier than CFA”
> >
> > Mostly true, but if you think the CPA is easier
> > than the CFA, put down whatever you’re smoking,
> > because it can’t be good for you.
>
> CPA is easier than CFA.

Second That as a CPA

200 Hours for the CMA for one Part? or in total? Bilal
> This is announced by CPAs themselves.

I guess they build their opinion based on the fact that u can sit for 2-3 parts of the CPA and you can do it more than once a year, however if you fail level 2, you have to wait a whole year.

Improvise, adapt, overcome

tylenol Wrote:
——————————————————-
> Nightmare55 Wrote:
> ————————————————–
> —–
> > blue-eyed-samurai Wrote:
> >
> ————————————————–
>
> > —–
> > > “CFA comes first then others follow..like CPA
> > CAIA
> > > CMA CA CIA .. All easier than CFA”
> > >
> > > Mostly true, but if you think the CPA is
> easier
> > > than the CFA, put down whatever you’re
> smoking,
> > > because it can’t be good for you.
> >
> > CPA is easier than CFA.
>
> Second That as a CPA
>
> 200 Hours for the CMA for one Part? or in total?
> Bilal
> > This is announced by CPAs themselves.

Well I want to put 3 hrs a day for a 2 month period. Is it enough for part 2 of the CMA?

Improvise, adapt, overcome

Dude, most (all?) states have minimum educational requirements before they’ll even let you *take* the CPA exam. It’s a professional license, not just a designation from essentially a self-regulating body.

There are four parts to the CPA exam, each with pass rates of around 40-50%, which is pretty amazing when you realize that most of the exam sitters have friggen’ degrees in accounting.

IIRC there are more opportunities to take the CPA, so in that sense it probably isn’t the time sink-hole that the CFA is. And the CFA definitely covers a much broader curriculum. But I don’t think it can be considered easier in any meaningful fashion; I work with several dozen people with alphabet soups after their name and 90% say the CPA was the biggest PITA, followed by CFA and CAIA. Although I’ve heard that the actuarial exams would make most CFA charter holders cry for their mommies….

——————————————————————-
If you think hiring a professional is expensive…
wait until you’ve hired an amateur.

Hi Bilal,

I’m in with you on the CMA! We can support each other throughout the process!

I’m thinking of sitting for both parts in October

- Guille

Guille_GE Wrote:
——————————————————-
> Hi Bilal,
>
> I’m in with you on the CMA! We can support each
> other throughout the process!
>
> I’m thinking of sitting for both parts in October

Great! when are you planning to start ur preparations? I think ill go for 2nd part in September because i have 15 days off in October at work so im sure ill cover the 2nd part within those 2 weeks. Do you use google talk/msn/or any kind of messengers?

Improvise, adapt, overcome

Blue-eyed Samurai you’re just flat out wrong. I’ve got countless CPA friends who have flunked badly Level II, including the FRA part, and went to cry to mommy. Yes it has 4 parts, but you can take the exam I believe 4-6 times a year, and you can just pass the parts one at a time. It’s not even in the same league.

Guy sitting behind me was a CPA, taking Level II for the second time. Before the afternoon section he said “if the afternoon is not going well I am just going to guess and leave.” After the exam I turn around and he’s not there. I asked the guy sitting next to him “Where did he go?” the guy says “He left about an hour in.”

I didn’t get to ask….but my guess is he thinks the CFA is harder. More of an amusing anecdote that proof of anything, but it definitely goes in the “CFA is harder” category….

CPA is a joke compared to the CFA and besides you can break it out into 4 sections within an 18-month window. If you had to sit for all 4 sections as I think was the case maybe 10 years ago, then it would be a bit more comparable but I would still give the nod to CFA.

Guys how about CMA? lol ..

Improvise, adapt, overcome

if you are thinking about it…specially for those that are outside the US, end of May the AICPA and ACCA (UK) are launching a global accountancy certification starting 2012!

That will put an end to the non-sense of not allowing foreigners to take the exam on certain states

http://www.aicpa.org/Press/PressReleases/2011/Pages/AICPAGoverningCounci...

- Guille

First of all lets get one thing straight the CPA is not a joke compared to the CFA. I am a CPA and just took Level II. I believe that the CFA is harder but the CPA is not an easy exam. The CPA is just as detailed an exam as the CFA but the material just isn’t as broad.

Which CMA? Certified management accountant? or sth else? If you refer to the CMA in Canada, I can tell you that I dropped the CMA to do CFA, and ends up I fail L2 this year…
But I still think I made a correct decision, CFA is definitely more valuable than CMA.

Bilal Wrote:
——————————————————-
> Guys how about CMA? lol ..

Bilal whats your email

- Guille

why even bother with an inferior credential. just focus on clearing level 2 and then level III of the CFAI.

you’re really just wasting time

builders Wrote:
——————————————————-
> why even bother with an inferior credential. just
> focus on clearing level 2 and then level III of
> the CFAI.
>
> you’re really just wasting time

It’s not an inferior credential. It’s a total different topic and it focuses on budgeting/costing. It’s something to “do” if I fail .. It takes 2 months and it would keep me in the studying mood because im not planning to start studying for level 2 all over again starting august! .. so august would be for part 2 and then ill start in late october/ beg of november for level 2.

However I would not call it inferior, easier is the word to call it.

Improvise, adapt, overcome

Its not inferior, its complementary.

Yes its easier, but it has some intrinsic value :-)

- Guille

I myself am a Certified internal auditor and a certified financial services auditor,to have CFA charter and CMA will put the icing on the cake and i will never open a book with formulas ever again in my life

- Guille

Guille_GE Wrote:
——————————————————-
> I myself am a Certified internal auditor and a
> certified financial services auditor,to have CFA
> charter and CMA will put the icing on the cake and
> i will never open a book with formulas ever again
> in my life

are you an internal auditor by trade? How would a CFA help you in this regard?

Was an auditor for a few years for financial institutions. I went to the other side of the table and am a corp. Financial analyst now

- Guille

Guille_GE Wrote:
——————————————————-
> Bilal Wrote:
> ————————————————–
> —–
> > Guys how about CMA? lol ..
>
>
> Bilal whats your email

bilal86bilal@hotmail.com

Improvise, adapt, overcome

I am a CPA, so I take offense to saying that CPA is a joke! I took the exam back when it was hand written exam - you had to take all 4 parts over a 2 day period and it was held only once a year. Even under the new format, it is not a joke. The CPA exam was extremely difficult but Level II was much more difficult for one main reason - I was less prepared for Level II than for the CPA exam. I got a masters in accounting and took accounting classes that dominated my schedule for the last 3 years of my 5 year program, so I was clearly better prepared for the CPA exam. If I studied as much for Level II, I bet I would have found it easier. The comparison between CPA and CFA exam should just end because it is truly like comparing apples to oranges. If you could sit for the CPA exam without having the prerequisite number of accounting and all-in hours, then it would be a better comparison.

Let me put it like this

CMA – Helpful for Accountants focus on Cost accounting managing a firm from the inside.
CPA – Audit related focus on tax Audit and Financial accounting plus general Business.
CFA – we all know by now
The CMA of today is a 2 part exam with a format closer to the CPA my days it was a 4 part multiple choice so guess it would be a little more challenging now.
All these qualifications have a great benefit depending on your carrier path. None is greater than the other per say. You should have the one that suits your Job the others as someone put it are icing on the cake.
The only reason the CFA is more challenging is due to the volume of material and the number of formulas required. Another added issue is that you have only one shot a year that builds up the pressure. I must say however the other 2 exams do not try to trick or curveball you. You know the matter or you do not.
Bilal 2 hours a day for two months may not be enough you might need a few more towards the last few weeks. I recollect having to solve lots of problems to get the neck of it. The Gleim questions were the most challenging.