{"id":7185,"date":"2020-05-11T11:49:23","date_gmt":"2020-05-11T15:49:23","guid":{"rendered":"https:\/\/www.goodwin.edu\/enews\/?p=7185"},"modified":"2024-12-17T16:52:12","modified_gmt":"2024-12-17T21:52:12","slug":"faculty-article-cpa-vs-cma-understanding-the-difference","status":"publish","type":"post","link":"https:\/\/www.goodwin.edu\/enews\/faculty-article-cpa-vs-cma-understanding-the-difference\/","title":{"rendered":"CPAS and CMAs: Understanding the Difference"},"content":{"rendered":"<p><span style=\"font-family: Trebuchet MS, serif;\"><span style=\"font-size: medium;\"><b>CPAs and CMAs: Understanding the Difference<br \/>\n<\/b><\/span><\/span><span style=\"font-family: Trebuchet MS, serif;\"><span style=\"font-size: small;\">by Mike Rotondo, <\/span><\/span><span style=\"font-family: Trebuchet MS, serif;\"><span style=\"font-size: small;\">MBA, Curriculum Coordinator, Goodwin University Accounting Program<\/span><\/span><\/p>\n<p><span style=\"font-family: Trebuchet MS, serif;\"><span style=\"font-size: small;\">While almost everyone has heard of certified public accountants (CPAs), not everyone understands what they do. Not many people have heard of certified management accountants (CMAs) and may ask, \u201cAren\u2019t all accountants CPAs? Isn\u2019t it better to be a CPA?\u201d These questions can be answered if we examine the difference between a CPA and a CMA. <\/span><\/span><\/p>\n<p><span style=\"font-family: Trebuchet MS, serif;\"><span style=\"font-size: small;\">CPAs are better known, since one of their primary responsibilities is the preparation of tax returns and forms. They represent clients to the IRS and advise them on taxes and the tax implications of financial decisions. CPAs can also provide financial consulting and auditing services. When people hear \u201caudit,\u201d they often think of the IRS. CPAs and CPA firms provide independent auditing services to many companies, verifying that a company\u2019s financial statements are accurate and good for economic decision making.<\/span><\/span><\/p>\n<p><span style=\"font-family: Trebuchet MS, serif;\"><span style=\"font-size: small;\">CMAs do many of the same things as CPAs, but their primary focus is <\/span><\/span><span style=\"font-family: Trebuchet MS, serif;\"><span style=\"font-size: small;\"><i>within<\/i><\/span><\/span><span style=\"font-family: Trebuchet MS, serif;\"><span style=\"font-size: small;\"> the firm. While not all management accountants are certified, most work in businesses. Working with a CMA gives you an advantage over your peers as it proves you have a wide breadth of knowledge in the internal operations of companies. CMAs\u2019 primary responsibilities include budgeting, planning, financial and cash flow management, and making financial and economic recommendations to the firm\u2019s management. <\/span><\/span><\/p>\n<p><span style=\"font-family: Trebuchet MS, serif;\"><span style=\"font-size: small;\">While Goodwin University\u2019s minor in Management Accounting under the <a href=\"https:\/\/www.goodwin.edu\/majors\/business-administration\/bs-degree\">bachelor\u2019s program in Business Administration<\/a> provides sufficient undergraduate credits to sit for CPA exam in Connecticut<a class=\"sdfootnoteanc\" href=\"#sdfootnote1sym\" name=\"sdfootnote1anc\"><sup>1<\/sup><\/a>, its primary focus is the CMA exam, sponsored by the Institute of Management Accountants (imanet.org)<a class=\"sdfootnoteanc\" href=\"#sdfootnote2sym\" name=\"sdfootnote2anc\"><sup>2<\/sup><\/a>. While the CPA is a license granted by each state, the CMA is an international exam, recognized throughout the world.<\/span><\/span><\/p>\n<p><span style=\"font-family: Trebuchet MS, serif;\"><span style=\"font-size: small;\">Businesses, non-profits, and governments depend on management accountants for the financial information they need to make sound decisions. Management accountants must have a strong sense of ethics and take both qualitative and quantitative concerns into consideration when making recommendations to management.<\/span><\/span><\/p>\n<p><span style=\"font-family: Trebuchet MS, serif;\"><span style=\"font-size: small;\">Goodwin University\u2019s 18-credit minor in Management Accounting will give you the skills you need to advance your career <\/span><\/span><span style=\"color: #000000;\"><span style=\"font-family: Trebuchet MS, serif;\"><span style=\"font-size: small;\">and also help organizations and their stakeholders make sound financial decisions.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family: Trebuchet MS, serif;\"><span style=\"font-size: small;\">Learn more about the <a href=\"https:\/\/www.goodwin.edu\/landingpages\/accounting\">Accounting program<\/a> at Goodwin University.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<div id=\"sdfootnote1\">\n<p class=\"sdfootnote\"><a class=\"sdfootnotesym\" href=\"#sdfootnote1anc\" name=\"sdfootnote1sym\">1 <\/a><span style=\"font-family: Calibri, sans-serif;\"><span style=\"font-size: small;\">See <a href=\"https:\/\/portal.ct.gov\/DCP\/License-Services-Division\/License-Division\/CPA-Educational-Requirements\">https:\/\/portal.ct.gov\/DCP\/License-Services-Division\/License-Division\/CPA-Educational-Requirements<\/a> for CPA requirements in Connecticut. If you reside outside of Connecticut, please be sure to check your state\u2019s CPA requirements.<\/span><\/span><\/p>\n<\/div>\n<div id=\"sdfootnote2\">\n<p class=\"sdfootnote\"><a class=\"sdfootnotesym\" href=\"#sdfootnote2anc\" name=\"sdfootnote2sym\">2 <\/a><span style=\"font-size: small;\">Check <a href=\"http:\/\/imanet.org\">imanet.org<\/a> for CMA requirements<\/span><\/p>\n<\/div>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CPAs and CMAs: Understanding the Difference by Mike Rotondo, MBA, Curriculum Coordinator, Goodwin University Accounting Program While almost everyone has heard of certified public accountants (CPAs), not everyone understands what they do. Not many people have heard of certified management &hellip; <a href=\"https:\/\/www.goodwin.edu\/enews\/faculty-article-cpa-vs-cma-understanding-the-difference\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">CPAS and CMAs: Understanding the Difference<\/span><\/a><\/p>\n","protected":false},"author":18,"featured_media":7192,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_stopmodifiedupdate":false,"_modified_date":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1079],"tags":[34,1123,268],"class_list":{"0":"post-7185","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-academics","8":"tag-accounting","9":"tag-faculty-article","10":"tag-featured","12":"fallback-thumbnail"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CMA vs. CPA: What\u2019s the Difference? | Goodwin University<\/title>\n<meta name=\"description\" content=\"What is the difference between a Certified Public Accountant (CPA) and Certified Management Accountant (CMA)? Learn more about each career path.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.goodwin.edu\/enews\/faculty-article-cpa-vs-cma-understanding-the-difference\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CMA vs. CPA: What\u2019s the Difference? | Goodwin University\" \/>\n<meta property=\"og:description\" content=\"What is the difference between a Certified Public Accountant (CPA) and Certified Management Accountant (CMA)? Learn more about each career path.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.goodwin.edu\/enews\/faculty-article-cpa-vs-cma-understanding-the-difference\/\" \/>\n<meta property=\"og:site_name\" content=\"Goodwin University\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/GoodwinUniversity\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-11T15:49:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-17T21:52:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.goodwin.edu\/enews\/wp-content\/uploads\/2020\/05\/ENB_CPA-CMA_5.11.20.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"904\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Michael Rotondo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@goodwinuniv\" \/>\n<meta name=\"twitter:site\" content=\"@goodwinuniv\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Michael Rotondo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.goodwin.edu\/enews\/faculty-article-cpa-vs-cma-understanding-the-difference\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.goodwin.edu\/enews\/faculty-article-cpa-vs-cma-understanding-the-difference\/\"},\"author\":{\"name\":\"Michael Rotondo\",\"@id\":\"https:\/\/www.goodwin.edu\/enews\/#\/schema\/person\/21aa2bb82525c1aab42de1c3232c9f7a\"},\"headline\":\"CPAS and CMAs: Understanding the Difference\",\"datePublished\":\"2020-05-11T15:49:23+00:00\",\"dateModified\":\"2024-12-17T21:52:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.goodwin.edu\/enews\/faculty-article-cpa-vs-cma-understanding-the-difference\/\"},\"wordCount\":420,\"publisher\":{\"@id\":\"https:\/\/www.goodwin.edu\/enews\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.goodwin.edu\/enews\/faculty-article-cpa-vs-cma-understanding-the-difference\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.goodwin.edu\/enews\/wp-content\/uploads\/2020\/05\/ENB_CPA-CMA_5.11.20.jpg\",\"keywords\":[\"Accounting\",\"Faculty Article\",\"Featured\"],\"articleSection\":[\"Academics\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.goodwin.edu\/enews\/faculty-article-cpa-vs-cma-understanding-the-difference\/\",\"url\":\"https:\/\/www.goodwin.edu\/enews\/faculty-article-cpa-vs-cma-understanding-the-difference\/\",\"name\":\"CMA vs. CPA: What\u2019s the Difference? | Goodwin University\",\"isPartOf\":{\"@id\":\"https:\/\/www.goodwin.edu\/enews\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.goodwin.edu\/enews\/faculty-article-cpa-vs-cma-understanding-the-difference\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.goodwin.edu\/enews\/faculty-article-cpa-vs-cma-understanding-the-difference\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.goodwin.edu\/enews\/wp-content\/uploads\/2020\/05\/ENB_CPA-CMA_5.11.20.jpg\",\"datePublished\":\"2020-05-11T15:49:23+00:00\",\"dateModified\":\"2024-12-17T21:52:12+00:00\",\"description\":\"What is the difference between a Certified Public Accountant (CPA) and Certified Management Accountant (CMA)? 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