Episode 12 – Why the CMA Accounting is a Must for Finance Professionals

There is a ton of information to learn when it comes to preparing for the CMA accounting exam. But how can you absorb so much information and then be able to actually apply it?

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Here’s What You’ll Learn in this Week’s Episode:

• Why the CMA accounting designation is crucial if you work in Finance.
• How to transition from internal auditing to management accounting, fast.
• Why the CPA may not be the best track to go with coming out of college.

Resources:

• CMAExamAcademy.com/textbook — To claim your free CMA Part-One textbook in paperback
• Cumulus Media
• iHeart Media
• Entercom
• David Elrod LinkedIn

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Frequented Asked Questions

What is the CMA accounting designation and why is it important for finance professionals?

The CMA (Certified Management Accountant) is a globally recognized professional designation awarded by the Institute of Management Accountants (IMA) that validates expertise in financial planning, analysis, control, decision support, and professional ethics. It’s important for finance professionals because it focuses squarely on the strategic, forward-looking skills companies rely on to make decisions—budgeting, forecasting, performance management, cost analysis, and corporate finance—rather than the compliance and audit emphasis of other credentials.

How is the CMA different from the CPA designation?

The CMA and CPA differ mainly in focus: the CMA (Certified Management Accountant) centers on management accounting and corporate finance—budgeting, forecasting, performance management, cost analysis, and strategic decision support—while the CPA (Certified Public Accountant) centers on public accounting functions like auditing, tax, financial reporting, and compliance.

Can internal auditors transition to management accounting using the CMA?

Yes, internal auditors can transition into management accounting using the CMA, and in this episode my guest David Elrod and I discuss how to make that move quickly. Internal auditors already possess valuable, transferable skills—a deep understanding of internal controls, risk assessment, process evaluation, and financial analysis—that align closely with the CMA’s curriculum.

Where can I find free CMA study resources mentioned in this episode?

You can find the free CMA study resources mentioned in this episode directly through CMA Exam Academy. In Episode 12, I offer a free CMA Part-One textbook in paperback, which you can claim at cmaexamacademy.com/textbook. Beyond that episode-specific offer, we provide a free Exam Secrets Cheat Sheet along with a complimentary three-part CMA video course that has helped tens of thousands of accounting and finance professionals start their CMA journey.

Hi, I’m Nathan Liao (aka the CMA Coach)! For the last 11 years, over 100,000 accounting and finance leaders came knocking at my door seeking guidance and help. If you’re also aiming to pass the CMA exam on your very first try—without wasting away time or money—you’ve found your ultimate guide. Dive in deeper to discover more about me and the dedicated team that powers CMA Exam Academy. Click here and let’s embark on this journey together!