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
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.
Its not inferior, its complementary. Yes its easier, but it has some intrinsic value 
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_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_GE Wrote: ------------------------------------------------------- > Bilal Wrote: > -------------------------------------------------- > ----- > > Guys how about CMA? lol … > > > Bilal whats your email bilal86bilal@hotmail.com
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.
Ill put 3-4 hrs a day … im already working in corporate finance, i come from an accounting background and I was just asking about the time it takes to take the 2nd part of the CMA not both however your information are valuable and ill definitely use both official CMA material and Gleim. Thanks again
+1 on gleim, i used it for CIA and thought it was pretty good
Tylenol, your descriptions are pretty much accurate. Here are a few opinions of my own: CMA - you will be looked down on by any CPA, because they think you couldn’t hack getting a CPA… because that accurately describes most CMA’s. A CPA won’t want to hire a CMA. Most CMA jobs are inside manufacturing companies that are very cost-conscious, meaning they don’t like to spend cash on production, and won’t want to spend cash on you either. CPA - you will be looked down on by any MBA, because they think you couldn’t hack coming up with an original thought of your own, and that you are the one tool who raises his hand and insists on playing by every rule and ignoring the fact that it is nice to make money sometimes. I have never heard an MBA say a good word about any accountant, and they make a lot of the hiring decisions within corporate America, for better or for worse. I would advise you to only get a CMA or CPA if you intend to work specifically in the field for which they are intended. I wish you the best in finding the right path that will make you happy, though! tylenol Wrote: ------------------------------------------------------- > 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.
I guess another way to look at both certifications is this: Finance Vs. Accounting degrees? Which is harder generally? The answer might go either way depending on one’s background. Those with strong mathematical background (like me) may say they are more comfortable with Finance, whereas those with not-so-strong mathematical background will find accounting less stressful and Finance a bit hard. As somebody with both an accounting degree and a Financial Engineering degree, accounting (agreed that management accounting is a bit more quantitative compared to financial accounting which is more of debit and credit) is no where compared to Finance as to the level of complication and difficulty and I guess same goes for CMA and CFA.
CFA > CPA > CMA > HS Disploma > CIA (internal audit)
the thing with the CPA is that most of it has been covered in your undergrad curriculum and some grad courses. So most of it is just review. Some of the things on Level I were like that, and I passed with <100 hrs studying. How awesome would it be to spend 4 years studying on the CFA and then having to take it after graduation with multiple chances a year? People only have a problem with it because: A.) They were mediocre to bad students and did not pay attention in class enough to understand the material. Consequently they play catch up. B.) The stuff is friggin boring. I’m an accounting grad student and am studying for the CPA, and I really find some of this crap boring. I’d much rather study Financial Stmt Analysis from the CFA curriculum then looking at Audit regulation or brushing up on how to report an accounting error from the previous year. or C.) It’s been ages since they took accounting courses. Many rules have changed, and people just forget junk. CFA > CPA regarding difficulty all day long.
What about the CA? Is this just a Canadian designation?
el duque Wrote: ------------------------------------------------------- > CFA > CPA > CMA > HS Disploma > CIA (internal > audit) +100, this thread blows. Why would people be interested in pursuing CMA after CFA? Makes zero sense unless you just want to collect certifications.
wake2000 Wrote: ------------------------------------------------------- > +100, this thread blows. Why would people be > interested in pursuing CMA after CFA? Makes zero > sense unless you just want to collect > certifications. I’m with you. The ONLY benefit to getting a CPA is that you will have a relatively stable career. WON’T make a lot of money, WILL work late hours, it WILL be horrendous, WILL be looked down upon as a bean counter, bonus will be horrible, but you’ll almost nearly always be employed.