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By University HQ Staff Writers
Edited by Evelyn Keener
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University Headquarters (HQ) is an industry-leading, independent educational organization that provides independent college rankings using a proprietary formula to create first class, unbiased rankings. The team at University HQ strives to provide accurate and trustworthy rankings that highlight the best programs for accounting.

Are you interested in or currently pursuing a career in accounting? Maybe you are already a working professional? If you think you might enjoy working with financial information and records and being vital to the running of a business, this is an ideal profession for you. Because all companies and organizations require some level of financial oversight, accountants are usually able to find work easily. Accountants can work in several different types of accounting including financial accounting, management accounting, tax accounting, and cost accounting. Accounting information systems are used to support operations related to financial accounting. Most accounting is concerned with reporting an organization's financial position, while management accounting is concerned with the measurement, analysis, and reporting of information for management's use.

While a degree in accounting can often help you secure an entry-level position in the field, completing one or more certifications can provide significant opportunities for future career advancement. In fact, there are numerous benefits to earning certifications as an accounting professional. Not only will you be able to specialize your skills and offer more sought-after services, but you can also move into positions that offer higher pay. This is also an excellent option for individuals interested in moving into an accounting career from a different field.

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Benefits of Accounting Certifications

Earning an accounting certification offers numerous benefits for professionals seeking to advance in the field. Certified accountants gain credibility and demonstrate their expertise to employers and clients, making them more competitive in the job market. Certifications like the CPA (Certified Public Accountant) or CMA (Certified Management Accountant) signal a commitment to professional standards and a high level of competence in accounting practices. These credentials are often required for specialized roles, such as auditing, financial analysis, or managerial accounting, broadening career opportunities.

Certified accountants also enjoy higher earning potential compared to their non-certified peers. Many organizations offer increased salaries and additional perks to professionals with certifications due to their specialized knowledge and skills. Beyond financial benefits, certifications provide a framework for continuing education, ensuring accountants stay updated with industry trends and regulatory changes. This commitment to lifelong learning not only enhances job performance but also positions accountants as valuable assets within their organizations.

Accounting Certifications

It is important to realize there are many different certifications available for those choosing this common career path. These include credentials that can prepare you as an accounting professional for a career in investment analysis, financial accounting, financial analysis, management accounting, internal auditing, forensic accounting, risk management, public accounting, and more. Depending on your career goals, you will be able to find a certification appropriate for every level of employment within this field, from entry-level to administration. Those just beginning their careers will find earning one or more certifications is a great way to stand out among other applicants when applying for accounting jobs. This can particularly helpful for recent graduates trying to get their foot in the door.

Employers for entry-level positions often give preference to candidates with the following intro and add-on accounting certifications:

Accredited in Business Valuation

Only members of the Association of International Certified Professional Accountants (AICPA) can apply for and maintain the Accredited in Business Valuation (ABV) credential. Business valuation professionals have the competencies to provide premier valuation services in areas such as tax, litigation, financial reporting, transactions, and ESOPs. There are many benefits to earning this credential including access to other valuation professionals with similar interests and practices, as well as relevant practice aids, webcasts, newsletters, and discounts on continuing professional development.

Certified Financial Planner (CFP)

The Certified Financial Planner (CFP) credential is overseen by the Certified Financial Planner Board of Standards, Inc. Certified Financial Planners are rigorously trained in 72 areas of financial expertise and know how to assist with financial planning, taxes, insurance, estate planning, and retirement. Benefits of earning this certification include earning a mark of excellence in the financial industry and becoming highly valued by financial firms and consumers alike.

Certified Fraud Examiner (CFE)

The Certified Fraud Examiner (CFE) designation is overseen by Association of Certified Fraud Examiners, Inc. (ACFE) All candidates must be an ACFE member. Certified Fraud Examiners uncover, prevent, and deter fraud as well as providing internal auditing to watch for fraud. This often entails studying employer financial records for discrepancies and collaborating with law enforcement when necessary. Benefits of earning this credential include receiving a higher salary, increased job security, and distinction among other job candidates.

Certified Government Financial Manager (CGFM)

The Certified Government Financial Manager (CGFM) designation is overseen by the Association of Government Accountants (AGA) Certified Government Financial Managers demonstrate competency in government accounting, auditing, financial reporting, internal controls, and budgeting at the federal, state, and local levels. Benefits of earning this credential include recognition of specialized knowledge and experience, as well as expanded career opportunities.

Certified Internal Auditor (CIA)

The Institute of Internal Auditors (IIA) administers the Certified Internal Auditor (CIA) examination and grants the CIA designation. Certified Internal Auditors objectively analyze and evaluate company financials and business operations, identifying problems and ensuring compliance with company, industry, and government regulations. There are many benefits to earning this international credential including increased earning potential, more job security, opportunities for professional advancement, and focused skills improvement. This can allow you to work in the financial services industry and audit the content of any company's books as necessary.

Certified Management Accountant (CMA)

The Certified Management Accountant (CMA) designation is overseen by Institute of Management Accountants, Inc. (IMA) Certified Management Accountants possess significant knowledge in financial planning, analysis, control, decision support, and professional ethics. Benefits of earning this credential include more opportunities within the business world, career advancement, increased earning potential, and more credibility in the field.

Certified Public Accountant (CPA)

The Certified Public Accountant (CPA) designation is managed by each state’s board of accountancy independently but the American Institute of Certified Public Accountants (AICPA) is the group that actually offers CPA certification. Most states have similar application requirements, including the passing of the Uniform CPA Examination and the state board of accountancy will choose when you are prepared to receive your full CPA license. Certified Public Accountants perform financial statement audits and other attestation services to keep investors informed.

Certified Public Bookkeeper (CB)

Certified bookkeepers have demonstrated their knowledge, skills, and ability to perform important financial tasks. There are two primary nationally recognized programs offering certification: National Association of Certified Public Bookkeepers (NACPB) and the American Institute of Professional Bookkeeping (AIPB). These certifications can be helpful when applying for a new job or securing freelance clients. Continuing education is required to maintain certification.

Chartered Alternative Investment Analyst (CAIA)

Sponsored by the Chartered Alternative Investment Analyst (ACIA) Association the Chartered Alternative Investment Analyst (CAIA) is the only globally-recognized educational standard for individuals specializing in alternative investments. Professionals manage, analyze, distribute, and/or regulate investments. A major benefit is learning what is needed to be successful and credible in alternatives.

Chartered Financial Analyst (CFA)

The Chartered Financial Analyst (CFA) designation is overseen by Chartered Financial Analyst Institute, Inc. Chartered Financial Analysts monitor and help improve financial performance for their clients. This includes tracking status’, analyzing plans, and reconciling transactions. Benefits of earning this credential are better job prospects, higher pay potential, more credibility, networking opportunities, and less time in an academic setting.

Chartered Global Management Accountant (CGMA)

The Chartered Global Management Accountant (CGMA) designation is overseen by the Association of International Certified Professional Accountants (AICPA) Chartered Global Management Accountants are trusted, expert strategists connecting all aspects of business and are proficient in finance, operations, strategy, and management. Benefits of earning this certification include developing an understanding of how different aspects of business come together, demonstrating an ability to look to the future of finance, and illustrating an ability to provide objective views.

Certified Enrolled Agent (EA)

The Enrolled Agent (EA) credential is provided by the Internal Revenue Service (IRS) Only Enrolled Agents have the privilege of representing taxpayers before the IRS. It is the highest credential the IRS awards and recipients must adhere to ethical standards and complete 72 hours of continuing education courses every three years. There are many benefits to earning this credential, including unlimited practice rights. Enrolled Agents are unrestricted as to which taxpayers they can represent, what types of matters they can handle, and which IRS offices they can address.

Financial Modeling and Valuation Analyst (FMVA)

The Financial Modeling & Valuation Analyst (FMVA) designation is overseen by the Corporate Finance Institute (CFI) Financial Modeling & Valuation Analysts often work in investment banking research, equity research, and corporate development. They are proficient with financial modeling, sensitivity analysis, and strategy. Benefits of this program include boosting knowledge and skills, studying online at any pace, and becoming certified in only a few months.

Financial Risk Manager (FRM)

The Financial Risk Manager (FRM) designation is overseen by the Global Association of Risk Professionals (GARP) Financial Risk Managers identify and analyze potential threats to assets, earning capacity, and/or the overall success of a business. Benefits of earning this credential include standing out among financial professionals in the United States and elsewhere, proving knowledge and skills meet the latest international standards, and connecting to an elite network of expert risk, financial accounting, and financial analysis professionals employed by some of the world’s leading institutions.
 

Certified Tax Preparer

Tax return preparers are people who provide professional assistance in calculating, preparing, and filing tax returns for those with local or federal tax liabilities who request their services. Some tax preparers have earned third-party credentials, by taking the CPA exam or becoming enrolled agents, while others don’t have such credentials. If tax return preparers aren't CPAs, tax attorneys, or enrolled agents they do not have even limited representation rights to represent clients or a taxpayer to the Internal Revenue Service, even if they are tax professionals.
 

Your Accounting Educational and Career Foundation

Diving into the world of accounting offers varied career pathways, from public accounting to roles in government or corporate environments. Each pathway requires specific education and credentials to unlock various job opportunities and career growth prospects.

Academic Foundations

To embark on an accounting career, a solid academic foundation is essential. Most roles demand at least a bachelor's degree in accounting or a related field. This degree provides instruction in fundamental areas such as financial accounting, auditing, and taxation.

For those aiming for advanced positions, pursuing a master’s in accounting or finance can be advantageous. This further education often covers specialized topics and can make you more competitive in the job market. Understanding these academic prerequisites positions you well for roles like financial analysts, auditors, or management accountants. Professional accounting certifications greatly enhance your career prospects in accounting.

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