The Ultimate Guide to Accounting Certifications: Which One Is Right for You?

Pursuing a career in accounting begins with a formal education that progresses toward obtaining universally recognized accounting certifications, such as a CPA, CMA, CFA, and more. These certifications are professional designations that demonstrate and validate skills and knowledge within a specialized area of accounting. Each certification shapes an individual's career path in its own way, and understanding which certifications best align with your prospective career path and goals will help you make the most of your time in college as you prepare yourself for future opportunities. 

Benefits of Earning Accounting Certifications

Accounting certifications serve to strengthen a job applicant's credentials and shape one's career path by validating skills in specific areas of the accounting field. Obtaining one or more accounting certifications offers several benefits, including the following. 

Boost Your Earning Potential

Obtaining an accounting certification boosts one's earning potential by qualifying them for more advanced professional positions.
With a basic accounting certificate or undergraduate bachelor’s degree, job applicants typically qualify for entry-level positions, such as bookkeepers and clerks. According to the U.S. Bureau of Labor Statistics (BLS), the median annual salary for roles like these was $49,210 per year in 2024. Comparatively, more advanced positions in accounting, such as accountants and auditors (which require specialized certification), earned a median annual salary of $81,680 in 2024. 

Increase Your Job Prospects

Also important to consider are one's job prospects within the industry. The job market seems to be increasingly favoring experienced, certified, and highly educated professionals. While the BLS anticipates a decline in entry-level bookkeeping positions between 2024 and 2034, it projects faster-than-average growth for more advanced positions, like accountants and auditors, with 124,200 openings projected each year over the decade. 

As a result, obtaining an accounting certification stands to help graduates increase their job prospects by helping them qualify for a wider variety of professional roles and responsibilities. 

Establish Professional Credibility

Candidates must meet rigorous prequalifications (such as work experience and education), complete courses (in some cases), pass examinations, and participate in continuing education to obtain and maintain accounting certifications. As a result, these certifications provide a validated way for job applicants and professionals to demonstrate their technical skills, knowledge, expertise, and experience to prospective employers. 

In addition to establishing professional credibility, accounting certifications can also provide a way for developing and highlighting specialized skills and knowledge in areas such as tax accounting, financial analysis, financial management, management accounting, forensic accounting, or regulatory compliance and auditing. 

Open Doors to Leadership Opportunities

The knowledge and skills required to obtain several accounting certifications equip individuals with specialized and strategic credentials that position them for leadership and management roles. 

Top Accounting Certifications to Know

Depending on your accounting career goals and the path you wish to pursue, the following accounting certifications can help you upskill your credentials, expand your financial expertise, and prepare yourself to fill higher-level positions within the accounting field. 

Certified Public Accountant (CPA)

A CPA certification is a professional accounting license issued to professionals who meet specific requirements regarding education and experience, in addition to passing the four-part Uniform CPA Examination. CPA licenses are granted by each state's individual Board of Accountancy, and each state has slightly different requirements for applicants. These requirements typically include:

• Complete a bachelor's degree in accounting or a related field.
• Earn 150 credit hours (with a certain number of credits in specific accounting, business, and/or finance courses).
• Prepare for and apply to take the CPA Exam.
• Pass all four sections within 18 months.
• Complete your state's required hours of relevant professional work experience.
• Apply for your license.

If you intend to apply for a CPA license after college, it is important to ensure your undergraduate coursework will meet your state's licensure requirements. 

Certified Management Accountant (CMA)

CMAs work in business settings where they assist with financial planning and strategy, performance evaluation and management, risk analysis, and data-driven decision-making.

To obtain CMA certification, one must meet the education (bachelor's degree) and relevant work experience (two years) prerequisites and then join the Institute of Management Accountants (IMA) before enrolling in the CMA program, passing the CMA exam, and applying for and maintaining certification.

Certified Internal Auditor (CIA)

Issued by the Institute of Internal Auditors (IIA), a CIA certification is a globally recognized credential that demonstrates expertise in internal auditing, corporate governance, compliance, internal controls, and risk management. To apply for the CIA certification program, applicants must meet certain prerequisites, submit an application to the program, pass a three-part CIA exam, and provide proof of relevant experience before receiving certification. 

Chartered Financial Analyst (CFA)

Another globally recognized certification, a chartered financial analyst has validated expertise in portfolio management, investment analysis, and financial decision-making. To become a CFA charterholder with the CFA Institute, an individual must meet eligibility requirements with respect to education (a bachelor's degree) and experience (4,000 hours of relevant, professional work experience), pass three exams, complete practical skills modules, and apply for membership. 

Certified Fraud Examiner (CFE)

Issued by the Association of Certified Fraud Examiners (ACFE), a certified fraud examiner is a globally recognized certificate that demonstrates expertise in preventing, detecting, investigating, and deterring fraud. To obtain CFE certification, one must meet specific eligibility requirements (regarding education, experience, and moral character), join the ACFE, prepare for and pass the four-part CFE exam, apply for certification, and participate in continuing education to maintain certification (in addition to paying ongoing ACFE membership dues). 

Chartered Accountant (CA)

Issued by the Institute of Chartered Accountants in England and Wales (ICAEW), a chartered accountant is a globally recognized accounting credential that demonstrates advanced expertise in accounting, taxation, and auditing, with knowledge that applies worldwide. To earn a CA certification, one must earn a bachelor's degree in a relevant field with coursework that meets specific curriculum requirements, in addition to gaining approved work experience, passing professional examinations, obtaining licensure, and maintaining one's license with continuing education.

How to Choose the Right Certification for You

To choose the right certification, one must first choose an accounting career path to follow. Whether you wish to pursue a career as a public accountant, specialize in tax filing, lead financial strategy in a business, improve regulatory compliance, or investigate fraud, you will likely pursue a different accounting certification to demonstrate your expertise and specialized knowledge in your desired niche field.

Preparing for Accounting Certifications While in College

When pursuing a career in the field of accounting, students should begin thinking about the future and their desired career path while they are still in college to ensure they are building the right skillset and foundational knowledge to support their plans and goals. 

Choose the Right Coursework

In addition to a selection of foundational courses, most accounting programs include a variety of elective options. Students should consider their future career goals when selecting the rest of their courses to ensure they are adequately prepared for the certifications that they wish to pursue after graduation and the accounting fields in which they plan to work.

Gain Real-World Experience

College students can start acquiring real-world accounting experience while they are still in school by securing internships, working part-time jobs in the industry, and volunteering to serve in relevant positions in campus organizations or nonprofit organizations.

Build Your Network

While in college, accounting students can also begin building a professional network in the accounting industry by attending career fairs and industry events, joining industry organizations, getting to know their classmates, shadowing professionals, and seeking out mentors.

Research State-Specific CPA Requirements

If you are planning to pursue a CPA license after graduation, it's important to remember that licenses are issued by local governing bodies. So, the requirements for licensure vary by state. One should research their state's individual CPA licensure requirements while they are still completing an undergraduate degree. This will help ensure you complete an appropriate selection of coursework to meet your state's credit hour requirements. 

Charting Your Path in Accounting

Successful accounting career paths begin with a formal education, and students can start their path in the online bachelor's in accounting offered by Champlain College Online. This flexible program is designed to provide students with a broad foundation of accounting knowledge and opportunities to specialize their skills with elective courses. To learn more about earning your bachelor's degree in accounting online, we welcome you to contact our admissions office today.