What Are the Top Certifications in Accounting?
24

Dec 2019

Fields like medicine, accounting, finance, computer science, human resources, operations management, etc., all are available with different certifications. Here, we’ll discuss why accounting and finance certifications are important and how it impacts candidate’s career.

The Importance of Certification

A candidate which possesses all the skills needed to be hired is not the only essential part of hiring. The recruiter considers and prefers to hire a person having certified professional qualification over the conventional degree candidates. The reason being, they are viewed as more knowledgeable, technical, experienced, and skillful with compared to the un-certified; this provides competitiveness to the professional or chartered holder candidates.

It has been surveyed that majority of the Chief Executive Officers (CEOs) and Chief Finance Officers (CFOs) have repeatedly said that earning a certificate is precious for an accounting finance professional for advancement of their career. Hence, certain credentials have become principally desirable, which include the following 10:

1. Certified Public Accountant (CPA)

Skilled CPAs would get really good opportunities in both small businesses and large multinational corporations. You will be responsible for maintaining the competitive edge of your company by ensuring financial integrity as a Certified Public Accountant.

Generally, CPAs constantly put their certification skills to use, which includes investment consulting, tax planning as well as account analysis and risk management. This certification is one of the most difficult to get.

2. Certified Management Accountant (CMA)

The CMA credential is recognized by enterprises and organizations all around the world. If you obtain your CMA your expertise in:

  • Analysis
  • Professional Ethics
  • Decision Making and Support

As far as your career potential is concerned, one-third of more money can be made by having this certification as compared to non-certified peers.

3. Certified Internal Auditor (CIA)

The only certification that is globally accepted for internal auditors currently, is the CIA. A CIA license is the way to demonstrate your competency, for individuals who are interested in making career in the accounting disciple of internal auditing. You professionalism is proven by obtaining your CIA designation which denoted the ability to serve as a key player within your organization.

An organization is assisted by a CIA to improve the effectiveness of its risk management processes and governance. Nevertheless, a CIAs role can also include financial reporting and fraud detection, depending on the organization’s requirements.

4. Enrolled Agent (EA)

An EA is a federally certified taxation expert, and is an exclusive certification which dates back to the 19th century Civil War era. You will have unlimited rights to represent clients before the IRS by holding this license.

EAs are the only federally licensed taxation specialist, unlike attorneys or other professionals who may perform tax services. They aren’t the same as the tax attorneys.

5. Certified Public Bookkeeper (CPB)

The CPB certification is not required to become a bookkeeper, rather this license helps to distinguish you as a nationally accredited service provider. This certification can be acquired if you want to prove your clients that their bookkeeping is based on ethics and experience.

A wide range of tasks are attached with the CPB certification:

  • Finding accounting errors
  • Discovering any fraud or theft
  • Recording financial statements

If you want to eligible for the certification, you shall have to pass the listed examination which will need a two-year or four-year degree.

6. Certified Government Auditing Professional (CGAP)

The CGAP is considered as an excellent professional credential by the National Institute of Internal Auditors that prepares you to be competitive in this demanding field. The CGAP certification may be the right choice for you whether you’d like a promotion or another advancement opportunity.

The amount of effort and hard work required to successfully pass this exam is sure to greatly enhance your accounting knowledge and skills.

7. Certified Information Systems Auditor (CISA)

Becoming CISA certified is perhaps technically inclined with individuals will be interested in pursuing. A CISA license demonstrates an ability to:

  • Control
  • Audit
  • Monitor information systems for businesses

If you’re looking to distinguish yourself, becoming CISA certified will surely display your IT auditing knowledge to potential employers. The CISA certification has a reputation for being a difficult examination.

8. Certified Bank Auditor (CBA)

The CBA certification is the industry standard for bank auditors. Banking specific areas such as bank law and auditing regulations are the main factors on which the potential candidates are tested. You need to constantly ensure that the financial institution that you represent follows federal as well as internal guidelines.

A bachelor’s degree in accounting or a related field is a must to hold for bank auditors. CBA’s nature of work includes both superb communication and organization skills.

9. Certified in Financial Forensics (CFF)

Every field imaginable needs forensic experts and the same is for accounting. A CFF performs inspections, investigations, and examination or different forms of analysis to obtain answers or give an opinion essentially.

It is one type of forensic accounting certificate wherein CFF certifications are usually granted to qualified CPAs.

10. Certified Fraud Examiner (CFE)

Most accounting professionals often write “combating fraud” into the job description. Activate a CFE certificate if you find that you have a knack for spotting fraudulent. The reasons behind occurrence of fraud is taught to the CFEs who are trained to discover fraud.

CFEs have the potential to save a company’s huge amount of money, they are trained specifically to investigate and spot fraud. CFEs are highly valued and respected by the organizations.

Each of the accounting certification and designation is slightly different and have various career focuses. There exist many more certifications for the business world than just for accounting and finance. It can be always beneficial to have more than one of these credentials.

If you already own a business, then you must have an idea exactly how accountants can be a help for your company. You need not worry about the guidance, because we at JAXA assist businesses and companies in providing services like, accounting, tax, VAT, payroll, audit and much more. Contact us today!