Are you thinking about whether to go for an EA or CMA certification? This is the career advancement for which you might become a Certified Management Accountant (CMA) or an enrolled agent.
Still, it does not mean the accounting field is too narrow to be included in any career goal or performing type. Before you get too far into your accounting journey, know many accounting certifications’ differing roles and needs.
In this blog, we will discuss the CMA and EA course online and much more!
CMA vs. EA: Roles and Responsibilities
The roles of a CMA and an EA are pretty different.
Role of a CMA
A Certified Management Accountant (CMA) shows you have advanced accounting and financial management skills. It’s ideal if you want to work in a business or international company.
Role of an EA
On the other hand, an Enrolled Agent (EA) is a tax expert specialising in U.S. tax laws. This certification is best for tax preparers looking to advance their careers.
CMA vs. EA: Exam Requirements and Format
The CMA and EA exams differ in qualifications, format, and content. Here’s a breakdown:
Qualifying for the CMA vs. EA Exams
CMA Exam
- Active IMA membership is required.
- Pay entrance fees.
- Complete a 2-part exam within 3 years.
- Education and work experience are required within 7 years of passing.
EA Exam
- No education or experience is required.
- Apply for a PTIN and register for the 3-part SEE exam through the IRS.
- Complete all parts within 2 years.
Exam Formats
CMA
- Two 4-hour sections: Financial Planning, Performance, and Analytics & Strategic Financial Management.
- Each part includes 100 multiple-choice questions and 2 essay questions.
EA
- Three 3.5-hour sections: Individuals, Businesses, Representation, Practices, and Procedures.
- Each section includes 100 multiple-choice questions.
Passing Rates
CMA: 45-50% globally.
EA: 61-88%, depending on the year.
Post-Exam Requirements
CMA: 30 CPE hours annually, a bachelor’s degree or approved certification, and relevant work experience.
EA: 72 hours of continuing education over 3 years, including 16 hours annually.
Salaries and Opportunities
CMA: Earn around 58% more than non-CMAs, holding roles like CEO, CFO, financial analyst, and more.
EA: Earn about 10% more per tax return, working in settings such as accounting firms, law firms, and corporate departments.
CMA vs. EA: Making Your Choice
The CMA and EA credentials cater to different career goals. The CMA is ideal for those interested in management, analytics, and financial planning, offering global recognition and flexibility to work in various locations. In contrast, the EA is focused on U.S. taxation and is best for those specialising in tax-related roles within the United States.
Choose the path that aligns with your career interests and goals.
Advance Your Career with AKPIS Professionals
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