There has long been a need for accountants. That is especially true
today, with industry and tech jobs spreading like wildfire all across the
globe. And the need continues to grow with each passing year. One of the most
crucial steps in choosing a career path is job security. Or in this case,
career security. Accounting has long been considered one of the most secure
career fields available, and the pay is typically at a much higher rate across
the board as compared to other fields.
It becomes
especially important for an accountant to become certified, placing that
individual at the top of the field. Another exciting aspect of accounting is
the number of different avenues that can be travelled in the United States.
These include CPP (Certified Payroll Professional), CPA (Certified Public
Accountant), CMA (Certified Management Accountant), CFM (Certified Financial
Manager), and CGFM (Certified Government Financial Manager), just to name a
few. In Canada, there are CGAs (Certified General Accountants), CAs (Chartered
Accountants), and like the U.S., CMAs. Each focus provides a different
path in the accounting field, and as such, requires a different examination or
certification process. The diversity of this challenging yet highly rewarding
career is evident when looking closer at these aforementioned paths.
One such comparison is CPA versus CGFM. A CPA focuses on general and
basic accounting practices, making it the most common accounting certification.
This certification is required by 99.9% of firms or organizations, regardless
of other obtained certifications. In contrast, a CGFM understands accounting
law from a governmental aspect. Working with spending budgets and tax
preparations in local, state, and federal government capacities, one who
obtains this difficult certification is widely considered at the top of the
accounting world. This is due to the sometimes very difficult and challenging
world of government accounting.
A unique and exciting side of accounting lies in the areas of CFM and
CMA. A CMA handles the sphere of internal auditing, financial forecasting, and
cost management, to name a few. This certification generally leads to CFM. A
CFM deals with the stock market and investment planning. And they typically are
treasurers of corporations.
A CPP is a well versed professional in the world of payroll accounting.
This is one of the most important areas of focus in its field due to one simple
fact; If your workers aren't paid, they will not work. It is the responsibility
of the CPP to ensure payroll is operating as it should. The CPP is in essence
the life blood of a corporation or establishment. This professional must also
field questions and offer solutions when dealing with some of the most diverse
accounting issues that may arise.
In Canada,
the CGA and CA both can work in different professional settings, including
private, corporate, and governmental. The CGA often provides tax preparation and
completion, while the CA often handles tax, auditing, and strategic planning.
The CMA focuses on more larger scale management and strategy, most likely the
stock market and treasury for corporations.
