Casey is our latest blogger from the US. He shares his progress on the CMA exam every Wednesday. This is his first post.
This week’s post I wanted to focus really on the CMA and why this certification is important.
First off I wanted to talk about the great debate between the CMA and CPA. In my previous job, I had a conversation with my manager concerning the CMA and the CPA. It was his thought that the CPA is the only license/certification that had any merit.
When I discussed with him that the CPA does not fully cover some of the operational and analysis parts that the CMA does, he did not have an answer.
I do not view the CPA and CMA as competitors but more like compliments to one another.
The CPA is great for auditing and being able to attest to financial statements while the CMA will allow you the ability to understand the numbers behind the P&L or Balance Sheet. Keep this in mind if you are considering one or the other.
For me, the CMA Part 1 has already paid off in my mind regardless of the exam score. I have recently transferred to a small business (less than $10M annually) as their CFO. The company is a co-packer of beef jerky. It is essentially a manufacturing type of environment.
The first two weeks here the firm was faced with some internal control issues as well as proper job cost accounting issues. Right off the bat just thinking about the issues we are facing, the concepts that are being hammered into my head during the study phase led me to have almost immediate solutions to the problems.
Based on what I have already learned from the CMA and began to implement here at my current employer I have already seen big results. These results have led to some success and in turn have led others in the company to want to take part of the success.
Knowing that the concepts do pay off keeps me motivated for the eventual Part 2 of the exam. If you are studying right now for the exam and are wondering why on earth am I doing this, understand that you are essentially gaining the keys to success that you can implement at your works.
Change and success at any employer are the number one driver for job satisfaction. As always, if you have any questions let me know by leaving a comment below.
Note from Stephanie
I really enjoyed reading your story on how the CMA has an immediate and tangible impact on your career — not just on the financial side, but also on equipping you with the right skills and thus job satisfaction. This is to me very important to have an enjoyable and successful career.
It’s also really interesting to get a glimpse on what you face as a new CFO as well. Thanks so much for sharing your first-hand experience!
I'm Casey from the great state of Kentucky. I'm a huge outdoors and sports fan. I recently attained the position of CFO at a small but growing meat processing company. The CMA is one of my greatest achievements I hope to add to my list of accomplishments. If there are any questions about my posts or me feel free to leave a comment below.
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