RTakett AC302 Unit 4 Assignment2

RTakett AC302 Unit 4 Assignment2 - Running Head Unit 4...

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Running Head: Unit 4 Assignment 2 1 Unit 4 Assignment 2 Ryan Tackett November 9, 2015 AC 302-01 Professor Duck
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Unit 4 Assignment 2 2 Benjamin Franklin said it best, “Tell me and I forget. Teach me and I remember. Involve me and I learn (nd).” Continuing one’s education level past the minimal is a huge advantage in the current day and age. The accounting profession has several avenues one can venture down should they want to continue evolving. Some examples include becoming a Certified Management Accountant (CMA), Certified Internal Auditor (CIA), or a Certified Forensic Accountant (Cr. FA). All three having their own requirements, advantages, and disadvantages. In order to become a Certified Management Accountant (CMA) one must maintain a membership in IMA, candidates must have completed a 4 year degree with two years of actual managerial work experience, gain entry into the CMA program, complete and pass both parts of the CMA exam, and understand and live by the IMA’s Statement of Ethical Practice (IMA, 2015). The biggest advantage to the certification is the bump in pay with CMA certified accountants earned on average 63% more than those without it. The CMA certification also carries a higher reputation in the industry with it. Finally, the skills required tend to be more practical with a staggering 80% of accountants ending up in the non-public sector (IPtCMAE, nd). The major disadvantage to this certification is that it is hardly ever used in the public sector of the world. This certification would allow one to become a Chief Financial Officer with
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