Certified Public Accountant (CPA) and Certified Management Accountant (CMA) are two key career credentials in the accounting profession. CPA's and CMA's serve different professional goals: the CPA focuses on public accounting, auditing and taxes, whereas the CMA emphasizes strategic financial management and internal corporate leadership.

We spoke with Dr. Kelly Damron, CPA and associate professor and chair of accounting at GCU, to learn more about the CMA vs. CPA career path, accounting certifications and how an accounting degree from GCU can help you prepare for a career in accounting.

Accounting certifications are professional credentials granted by recognized bodies. The State Boards of Accountancy certify CPAs,^{(See disclaimer 1)} while the Institute of Management Accountants certifies CMAs.^{(See disclaimer 2)} These organizations validate a practitioner’s specialized knowledge, skills and ethical commitment to ensure a standard of professional practice.

To understand the differences between the CPA and CMA paths, it helps to start with a high-level look at what each credential prepares you to do. While both are respected accounting certifications, they serve different professional purposes. 

The CPA centers on public accounting, compliance and assurance for external stakeholders, whereas the CMA focuses on internal financial strategy, planning and decision support within an organization. 

Key Differences Between CPA and CMA

CPAs act as compliance experts for external parties. CMAs act as strategic advisors for internal management. The CPA exam also has four parts (16 hours total) while the CMA exam has two parts (8 hours total). CPAs often work in public accounting firms or government, while CMAs typically work within corporate finance departments.

Most states require 150 semester hours of college credit to obtain CPA licensure, which is 30 hours beyond a standard bachelor's degree.^{(See disclaimer 3)} This curriculum must include specific upper-level accounting and business courses.

Candidates must pass the four-part Uniform CPA Examination:^{(See disclaimer 4)}

• Auditing and Attestation (AUD)
• Financial Accounting and Reporting (FAR)
• Regulation (REG)
• Discipline Section: Candidates choose one specialized area (BAR, ISC or TCP)

In most cases, CPA certification requirements entail candidates completing one to two years of professional work experience verified by a licensed CPA.^{(See disclaimer 1)}

CPAs must renew their licenses periodically, often every two years, and complete approximately 80 hours of continuing professional education (CPE) to maintain active status. The exact requirements for licensure renewal vary by state and jurisdiction.^{(See disclaimer 5)}

A bachelor's degree from an accredited institution is required for CMA certification. Unlike the CPA, there is no 150-hour mandate. However, candidates must verify their degree within seven years of passing the exam.^{(See disclaimer 6)}

The CMA exam consists of two parts:^{(See disclaimer 6)}

• Financial Planning, Performance and Analytics
• Strategic Financial Management

Candidates need two continuous years of full-time professional experience in management accounting or financial management. CMAs must maintain an active IMA membership and complete 30 hours of CPE annually, including at least two hours of ethics.^{(See disclaimer 6)}

Choosing between the CPA and CMA can feel overwhelming. The key is understanding how your interests, strengths and long-term goals align with the unique focus of each certification.

When the CPA Makes Sense

For students who enjoy the precision, structure and client-facing nature of public accounting, the CPA path often aligns best with their interests and strengths. This certification is especially well-suited for those who gravitate toward tax law, auditing and regulatory reporting. Many students discover their fit for the CPA track through coursework in taxation or auditing, where they find themselves energized by the challenge of applying complex rules to realistic scenarios.

When the CMA Makes Sense

Students who are drawn to the internal side of accounting, like helping with a business plan, analyzing and making strategic decisions, often find the CMA path to be a more natural fit. The CMA emphasizes management accounting, cost analysis, budgeting and internal financial strategy, making it an excellent choice for those who enjoy thinking about how numbers can drive organizational performance.

Earning a CMA or CPA not only has the potential to elevate your professional credibility — it has the potential to boost your long-term earning trajectory.^{(See disclaimer 7)} 

The education and training process required for a CPA and CMA certification has significant overlap. Many people find that earning both CPA and CMA credentials gives them greater professional flexibility.

Damron explains, “Deciding which credential is best is a decision from an individual perspective. Once students have those certifications, they should expect to be given more responsibility.^{(See disclaimer 11)} The prestige that comes from passing the CPA or CMA exam means people have a different expectation of the quality or level of work that you can perform.^{(See disclaimer 12)} Leadership falls into that, but competency is a huge indicator from an employer's perspective when the student can pass one or both of those exams.

It may influence their mobility within the organization and some employers do require it at a certain level.”^{(See disclaimer 14)}

In the following interview, Dr. Kelly Damron shares nuanced insights into the strengths that align with each path, the common challenges students face, how academic programs prepare future professionals and the emerging trends shaping the accounting field. Her firsthand expertise helps bridge the gap between curriculum and career, offering practical guidance for students exploring which credential best fits their goals.

What personal strengths or learning preferences tend to make someone a better fit for the CMA vs. CPA path?

“The CMA path is good for those students who prefer a more management-focused side of the accounting data, but we also have students who really like financial accounting, and they like doing the journal entries and the bookkeeping of financial accounting. They don't necessarily like learning about taxation, or they may not really be all that interested in the audit course, but they kind of like that bookkeeping aspect. They're also a really great fit for the CMA because that's going to be an internal accountant working for a company and not necessarily a public accountant working for a public accounting firm. This path is great for students who really like focusing on one client, which is their company they work for, and not multiple clients where they have multiple projects.

The students who have more of the strengths toward public accounting are probably going to be a bit more extroverted and want to work in a team. They tend to really like their audit class, or they like the idea of working for multiple companies on multiple projects and not necessarily for a single company. 

Students should consider what their area of interest is, as this really determines what path they should take. And then, to some extent, they should think about work-life balance as well. Students who maybe don't want to work a lot of hours and want that security of knowing the routine on a regular basis would be more CMA track, whereas those who are okay with working a few more hours and doing some travel and having some of those experiences while they're young might lend more toward the CPA track.”

What are some challenges students commonly encounter when preparing for CPA or CMA exams, and what strategies or habits have you seen help them succeed?

“Some challenges I see include students not appreciating how difficult the exams are, both the CPA and CMA. With the CMA exam, sometimes they're a little surprised how much of a financial focus is on that exam, because it's a Certified Management Accountant. One part of the exam is more financial accounting, and the second is managerial accounting, so they're still having to remember things that they learned in their intermediate one and two classes.

Sometimes students don’t realize how much time they need to study and prepare for those exams. You can't just walk out of the classroom and go sit to take one of those exams, they need a CPA exam or CMA exam prep program. They should find a program that helps guide them through preparing for the exam, and if they follow those programs the way they're meant to be followed, then that can help them succeed.

If you don't pass the first time, it can wear on your self-confidence, so that can be a challenge. Strategies would be the preparation program, as this creates a higher level of success for the students and the discipline.^{(See disclaimer 14)} They really need to dedicate the time to it. The earlier they start, the better.”

How do GCU’s accounting programs prepare students for the CPA exam?

“One of our CPA exam blueprints requires students to prepare an individual income tax return, and they have to use source documents. In our tax one class, we've created a W2, and a couple of 1099s for interest, dividends and retirement plans, and a form 1098 which reports mortgage interest. These are actual forms that a client would send into a tax preparer, and they have to use that documentation to prepare the tax return. This is a CPA exam task that they're tested on. In our two tax classes we have incorporated eight assignments that are from a CPA exam prep program.

In our master’s program, we utilize Gleim, which is a CPA exam prep software, throughout the entire program, so the minute they start taking a course in our master’s program, they are practicing with the exam materials until they graduate.”

What trends in the accounting field should students be aware of when choosing between the CMA vs. CPA, and how might those trends influence future opportunities?

“Our biggest trend right now is AI, and it's slowly making its way into accounting. Tax professionals are using it as a way to start research for a client. They can put in their clients’ facts and ask it to help them figure out where to start looking for tax law that's appropriate to the fact pattern.

Regarding auditors, it's a little less practical to use because of the standards that exist. Right now, AI can't do an audit, it still must be a person doing it, but I do think AI is helping them with drafting some of their emails, helping them create internal documentation, or even starting their research process.

AI isn't replacing people just yet. There are AI bots that are automatically taking the client source data and creating a tax return, so now our students have to go from being somebody who inputs that information into tax software, to reviewing the tax return that AI has created to make sure it's accurate. The skill set is definitely changing, and they have to have more critical thinking and problem-solving skills.”

For students who are unsure which path to pursue, what questions should they ask themselves — or what experiences should they try — to help clarify if the CMA vs. CPA certification better aligns with their goals?

“If they're not sure which path to pursue, I would recommend they consider the CPA track to start with, because it's easier to move out of our public accounting track than it is to move into it. They really need to think about what their goals are, and that's kind of hard to do when you're a freshman and you don't necessarily know what you want to do.

There's so much opportunity in the profession that it doesn't necessarily matter which path they go on, but I'd say if they think they want to work in public accounting, meaning they want to be an auditor or they want to be a tax professional, or they think they might want to do some sort of financial consulting, then they really should consider the CPA track. If they really like management accounting, then they should consider the CMA track and really focus on finding a company that has an internal accounting department so that they can be that internal accountant for an organization.

They should think about where they see themselves being the most successful, if that is in a team or if they want to be more independent. If you think you're a little quieter but you love tax law, or you want to work on a smaller team and be more independent but still as part of a team, you would be a good fit for the CPA track. If you want to work for a company and be part of an internal accounting team where you do have a lot of autonomy and work independently, but you're also part of a bigger organization, you might be a better fit for the CMA track.”

Is there anything specific to GCU’s programs that helps students in their accounting career?

“At GCU, we have the Accounting Society, which is our club for accounting majors. In this club, we focus on the accounting profession as a whole, not just students that are CPA track or CMA track. We're trying to ensure that all our events cover a variety of opportunities within the profession. Getting involved with the club is a great way to learn more about what your opportunities are as a student.

We also have the opportunity for students to get internships and even earn credit completing these internships. We have “Meet the Firms” events on campus twice a year, one in September and one in February. The thing to know about accounting internships is that firms hire about 12 to 18 months in advance, so the students do have to be prepared, especially if they’re CPA track.

Students who aren’t sure what path they're on really need to start considering the CPA track and then rule it out. If they wait too long, they may miss out on these opportunities. We recommend students start the internship process during their freshman year.”

Build a strong foundation for your future in accounting with a degree that supports your career goals. Whether you’re pursuing roles that typically align with the CPA path or aiming for positions where CMA-aligned skills are valuable, GCU offers programs designed to help you grow and gain the skills necessary for accounting certifications.

The Bachelor of Science in Public Accounting provides in-depth coursework in taxation, auditing and financial reporting, the key areas for students interested in public accounting careers. Our Master of Science in Accounting helps deepen your analytical and managerial expertise. Explore all of GCU’s accounting degrees and how they can help you build the knowledge and skills needed for stepping into the accounting field with confidence.