Episode 14 – CPA vs CMA – Which One First?

One of the most important questions accounting professionals ask themselves at some point in their career is which credential to go for. It’s not an easy one to answer. The CPA vs CMA? or perhaps an MBA? 

In todays’ episode we’ll demystify all three, the CPA vs CMA vs MBA.

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Here’s What You’ll Learn in this Week’s Episode: CPA vs CMA – Which One First?

• Which credential, CPA vs CMA vs MBA, is the most useful in the day-to-day activities of a Chief Financial Officer, or CFO.
• Why lifetime learning is the key to success in Management Accounting.
• How you can position yourself for success when babyboomers retire and leave executive roles vacant.
• The critical skills CFOs look in people wanting to join their high-performing teams.
• The ONE skill you need to nurture today to become a successful Chief Financial Officer tomorrow.

Resources:

• CMAExamAcademy.com/textbook — To claim your free CMA Part-One textbook in paperback
• Brian Conner CFO at Bolthouse Properties in Bakersfield
• Emotional Intelligence by Travis Bradberry (also check my latest post on Emotional Intelligence)
• Daniel Goleman
• Patrick Lencioni
• Brian Connor email – [email protected]
• CMA Coach

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Frequented Asked Questions

What is the difference between a CPA and a CMA?

The difference between a CPA and a CMA comes down to focus and career direction: the CPA (Certified Public Accountant) specializes in public accounting—auditing, tax, financial reporting, and regulatory compliance—while the CMA (Certified Management Accountant) specializes in management accounting and corporate finance, including budgeting, forecasting, performance management, cost analysis, and strategic decision-making.

Should I get my CPA or CMA first?

Whether you should get your CPA or CMA first depends on your career goals, but if you’re aiming for a management accounting or corporate finance path—ultimately toward roles like controller or CFO—starting with the CMA often makes the most sense.

Is a CMA or MBA better for becoming a CFO?

For becoming a CFO, the CMA is generally more directly aligned than an MBA, because it focuses squarely on the financial planning, analysis, performance management, and strategic decision-making that define a CFO’s day-to-day work. An MBA offers a broader business education and can be valuable, but much of its curriculum spans general management topics, whereas the CMA hones the specific management accounting and corporate finance competencies executives rely on.

Can you hold both a CPA and CMA designation?

Yes, you can hold both a CPA and a CMA designation, and combining them can make you a particularly well-rounded and marketable finance professional. There’s no rule against earning both, since they’re issued by different bodies—the CPA is state-licensed and the CMA is awarded by the Institute of Management Accountants—and together they signal mastery of both public accounting and management accounting.

What skills are most important for becoming a successful CFO?

The most important skills for becoming a successful CFO blend technical financial mastery with strong leadership and communication abilities. On the technical side, a CFO needs deep command of financial planning, analysis, forecasting, performance management, and strategic decision-making—exactly the competencies the CMA develops.

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!