The CMA (Certified Management Accountant) certification is a professional certification credential in the management accounting and financial management fields. The certification signifies that the person possesses knowledge in the areas of financial planning, analysis, control, decision support, and professional ethics.
Management accountants (also called managerial accountants) look at the events that happen in and around a business while considering the needs of the business. On the other hand, financial accountants analyse past data. So, one looks to the future, while the other analyzes the past.
The main differences between a CPA and CMA is that a CMA has mix expertise in financial accounting and strategic management. Management accountants are key figures in determining the status and success of a company. Some choose to become a Certified Management Accountant (CMA), a similar credential to CPA, but with a greater focus on cost accounting, financial planning, and management issues.
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