Accounting Certification Exam Preparation

What certifications and credentials are available to accountants?

• Certified Public Accountant (CPA), the most well-known accounting credential
• Certified Management Accountant (CMA)
• Certified Internal Auditor (CIA)
• Accredited Business Accountant
• Enrolled Agent (EA)
• Certified Payroll Professional (CPP)
• Certified Fraud Examiner (CFE)

CPA exam preparation and requirements for license

At Globe University/Minnesota School of Business, accounting certification exam preparation is incorporated into the Bachelor of Science in Accounting (B.S. in Accounting) and Associate in Applied Science in Tax and Accounting (A.A.S. in Tax and Accounting) programs.

Our college’s Bachelor of Science in Accounting program prepares graduates to take the Certified Public Accountant (CPA) exam in Minnesota and includes all required accounting coursework, including courses in financial accounting, auditing, taxation, and management accounting. The certification exam consists of four half-day tests, which can be taken over the course of 18 months. Detailed information is available at www.cpa-exam.org.

A candidate needs one year of accounting experience in public, management, academic or government accounting, verified by a CPA, to receive certification. The candidate also needs an additional year of college, including 36 upper-division credits in accounting and 36 upper-division credits in business-related subjects or accounting beyond the elementary level. Our bachelor’s in accounting graduates have fulfilled accounting and business requirements for that fifth college year. Thus, they have great flexibility in selecting additional courses to complete the 225 quarter-credits needed for CPA licensure.

Each state’s Board of Accountancy has different rules. Some are similar to Minnesota’s; others are quite different. Students should research their state’s rules carefully before enrolling.

Certified public accountants are in demand for positions as financial analysts, auditors, tax managers, cost control managers and general accountants. Maintaining CPA certification requires taking about 40 hours of continuing professional education annually.

Certified Management Accountant (CMA) exam prep

Certified Management Accountant (CMA) is a national certification held by many corporate managers and controllers. A CMA has demonstrated the skills and knowledge necessary to participate in management, reporting to and working on teams with owners, CEOs and managers of corporations. Certification requires a bachelor’s degree (not necessarily a bachelor’s in accounting).

Globe University/Minnesota School of Business’s Bachelor of Science in Accounting program prepares students to take the CMA exam, and GU/MSB accounting students are eligible for the Certified Management Accountant (CMA) Scholarship, which defrays part of the cost of taking the certification exam.

The CMA exam includes four half-day tests. Topics are business analysis, management accounting and reporting, strategic management and business applications. Detailed information is available at www. Imanet.org.

CMA certification also requires two years of management accounting experience, and CMAs take about 30 hours of continuing professional education a year to maintain the credential.

Certified Internal Auditor (CIA): certification requirements

A certified internal auditor (CIA) examines and evaluates a company’s financial and information systems, management procedures and internal controls, guarding against fraud and waste and ensuring compliance with government regulations.

The CIA candidate must hold a bachelor’s degree, not necessarily in accounting. More information on the certification is available from the Institute of Internal Auditors at www.theiia.org

Accredited Business Accountant/Advisor (ABA) exam preparation

The Accreditation Council for Accountancy and Taxation (ACAT) offers the Accredited Business Accountant/Advisor certification (ABA). The ABA requires three years of experience and a passing grade on the ABA exam. Our Associate in Management Accounting program fulfills two years of the three-year experience requirement for the ABA.

The Associate in Accounting and Tax Specialist degree program at Globe University/Minnesota School of Business provides training in skills needed to for the workplace experience, and includes a review course for the ABA exam.

Other certifications offered by ACAT include the Accredited Tax Advisor (ATA) and Accredited Tax Preparer (ATP).

More accounting certifications

Enrolled Agent (EA) certification

An enrolled agent is a skilled professional focusing on the tax needs of individuals and small businesses. An EA may be self-employed, work for the IRS or work for an accounting firm. Only EAs, CPAs and attorneys may represent taxpayers before the IRS. This accounting certification is regulated by the U.S. Internal Revenue Service (I.R.S.).

Certified Payroll Professional (CPP) and Fundamental Payroll Certificate (FPC)

The CPP and FPC payroll certifications demonstrate an accountant’s skills and knowledge in the payroll field. Certification, offered through the American Payroll Association, prepares employees in large and mid-sized corporations to earn promotions and other career advancements.

Certified Fraud Examiner (CFE)

Students in our Fraud Examination course study topics necessary for the Certified Fraud Examiner (CFE) exam. CFEs are trained to identify the red flags that indicate evidence of fraud, or the risk of fraud.

More information about accounting certification exam preparation

Contact Globe University/Minnesota School of Business for more information about online accounting courses or classroom accounting classes and preparation for certification exams. We have locations in the Twin Cities (Minneapolis/St. Paul) area, St. Cloud, Moorhead and Rochester, MN; Sioux Falls, SD; and Eau Claire, WI, serving students throughout the Upper Midwest and, through our distance learning program, worldwide.