Cost Management: A Strategic Emphasis 7th Edition by Edward Blocher,David Stout ,Paul Juras,Gary Cokins

Exercise 55

Different Professional Certification Programs There are several professional certification programs that are of interest to management accountants. Each certificate is awarded based on the results of a comprehensive exam plus other education and experience requirements. Perhaps the best known is the CPA, which is administered by each of the 50 states and five other jurisdictions in the United States. The CPA certificate represents achievement of a broad knowledge of the accounting profession, including auditing, tax accounting, and governmental accounting, among others. Information about the CPA is available at the American Institute of Certified Public Accountants (AICPA) website.
The Institute of Management Accountants (IMA) has a professional certification program leading to the Certificate in Management Accounting (CMA). The CMA exam has a framework similar to that of the CPA exam except that its focus is on broad business knowledge, strategy implementation, and competence in management accounting, rather than taxation and auditing.
American Institute of Certified Public Accountants: www.aicpa.org/index.htm
Institute of Management Accounting: www.imanet.org/
Required Review the AICPA and IMA websites and, in 200 words or less, explain how the two certification programs differ, and which program (if any) might be most appropriate for you given your current career interests. Use specific examples that you notice in reviewing the websites.