Top 9 accounting certifications to advance your career [2024]

Accounting certifications are the best way for both aspiring accountants and seasoned professionals to level up their skills and boost their salaries. Recognized by the entire industry, they prove to recruiters that you can bring a specific set of accounting skills to their company. 

A dream resume would be full of qualifications, but you can’t learn standard accounting principles and constantly evolving technology overnight. These certifications are rigorous and add a significant workload to an already full working week, which is why most courses offer a flexible learning pathway. 

In this post, we’ll look at the most popular accounting certifications and explore the benefits that they can bring to your career. So if you’ve got the itch for a bit of professional development, read on.

What is an accounting certification? 

An accounting certification is a professional industry credential that shows someone’s expertise in a certain area of accounting and finance. They usually entail ongoing education and exams, making them a reliable measure of an employee’s skills and commitment.

Accounting certifications can cover a range of subjects, from auditing and management accounting to financial analysis and fraud examination. Whether they cover general topics or narrow specialties, they all enhance your professional credibility, open up advanced career opportunities, and can significantly boost earning potential. 

Types of accounting certifications 

Different types of accounting certifications cater to distinct aspects of the profession. Broadly, they can be categorized into general and specialized certifications. 

General certifications, such as the Certified Public Accountant (CPA) and Certified Management Accountant (CMA), train candidates to handle various accounting roles, including auditing, financial analysis, and management accounting.

On the flip side, specialized certifications look at niche areas within accounting. For example, the Certified Internal Auditor (CIA) targets expertise in internal auditing, while the Certified Fraud Examiner (CFE) specializes in fraud detection and prevention.

In addition to these, product-specific certifications are becoming increasingly valuable as technology reshapes accounting. For example, the Netgain Implementation Certification is a huge plus for consultants looking to expand their skillset with accounting tools like NetClose and NetAsset.

These certifications focus on mastering the technology that streamlines processes to improve a company’s bottom line. Amid a shortage of qualified accounting professionals, teams are increasingly looking for profiles that can use technology to bridge the talent gap. 

Top accounting certifications to consider 

There’s no “best” accounting certification — it all depends on your career goals. With that in mind, here are some of the most sought-after qualifications on the market today.

1. Certified Public Accountant (CPA)

The CPA certification is one of the most prestigious and widely recognized credentials in the accounting profession. It gives you advanced skills in auditing, taxation, financial analysis, and regulatory compliance, making it a highly sought-after qualification in public accounting, corporate finance, and government roles. In fact, many accounting job descriptions call for CPA credentials as a requirement. 

How to earn the CPA certification: 

The CPA certification varies slightly from state to state, so the finer details may change, but as general rules, you need five years of higher education (around 150 hours of credits) and a year of accountancy experience. Most states will also ask you to take the American Institute of Certified Public Accountants (AICPA) ethics exam.

There are three four-hour core sections to the CPA, as well as a choice of one of three four-hour disciplines. To make things easier, you can complete these sections separately. 

The core sections are:

• Auditing and Attestation (AUD)
• Financial Accounting and Reporting (FAR)
• Taxation and Regulation (REG)

The three discipline sections are:

• Business Analysis and Reporting (BAR)
• Information Systems and Control (ISC)
• Tax Compliance and Planning (TCP)

2. Chartered Global Management Accountant (CGMA)

The CGMA designation is a globally recognized credential that highlights expertise in management accounting and business strategy. Jointly issued by the American Institute of CPAs and the Chartered Institute of Management Accountants (CIMA), the CGMA focuses on equipping professionals with advanced skills in financial management, strategic planning, risk management, and performance analysis. 

How to earn the CGMA certification: 

To earn the CGMA, candidates typically need to have CIMA’s Professional Qualification, which involves a series of exams on operations, management, and strategy, as well as work experience. This certification is ideal for those aiming to take on leadership roles within organizations, driving business success through financial insight and strategic guidance.

3. Certified Management Accountant (CMA)

The CMA designation is a respected credential that demonstrates expertise in cost management, decision analysis, forecasting, and internal control auditing. Administered by the Institute of Management Accountants (IMA), the CMA focuses on similar skills to the CPA but puts more emphasis on the practical application of those skills. 

How to earn the CMA certification: 

To earn the CMA certification, candidates must pass a two-part exam. Part 1 focuses on financial planning, performance, and analytics, with Part 2 tackling strategic financial management. To take the exam, you first need to become a member of the IMA, enroll in the CMA course, and have both a bachelor’s degree and two years of accounting or finance experience under your belt. 

4. Chartered Financial Analyst (CFA)

The CFA program, delivered by the institute of the same name, is all about investment management. You’ll learn investment analysis, portfolio management, and financial ethics —skills that pave the way to senior and executive positions in investment management, risk management, asset management, and more. The CFA program is notoriously difficult, with less than 50% of candidates passing in a typical year. 

How to earn the CFA certification: 

To earn the CFA charter, you have to hold a bachelor’s degree or be within 11 months of graduation. On top of that, you need 4,000 hours of relevant work experience, including at least three sequential years, before you’re eligible to take a series of three six-hour exams. You should expect around 900 study hours to prepare for the test, but the investment of time and money is rewarded with an average base salary of almost $100,000 and up to $50,000 in bonuses. 

5. Certified Internal Auditor (CIA)

As the name suggests, the CIA certification reflects proficiency in internal audit practices, risk management, governance, and control processes. Issued by the Institute of Internal Auditors (IIA), the CIA exam tests an auditor’s ability to evaluate the effectiveness of an organization’s risk management and control systems and implement strategies to improve them.

How to earn the CIA certification:

The CIA exam is separated into three parts: 

1. Essentials of Internal Auditing 
2. Practice of Internal Auditing 
3. Business Knowledge for Internal Auditing 

These are all multiple-choice exams and don’t require a specific training program prior to taking the exam, but you do have to have one of the following:

• A bachelor’s degree or higher. You can also be in your final year or an active student at an approved Internal Audit Education Partnership (IAEP) school.
• An active Internal Audit Practitioner designation. 
• Five years of internal audit experience.

6. Certified Fraud Examiner (CFE)

The CFE designation is proof of expertise in fraud detection, prevention, and investigation. Offered by the Association of Certified Fraud Examiners (ACFE), the CFE exam is made up of 100 multiple-choice questions focusing on four key areas:

• Financial Transactions and Fraud Schemes
• Law 
• Investigation
• Fraud Prevention and Deterrence

These areas reflect the content of the Fraud Examiners Manual.

How to earn the CFE certification: 

To qualify for the CFE, you must:

• Be a member of the ACFE.
• Have a minimum of 40 points in the eligibility points system, which weighs degrees and certifications.
• Have at least two years of fraud-related work experience.

You can prepare for the exam with a self-paced online package, in a CFE Exam Review Course, or on your own, using the Fraud Examiners Manual.

7. Certified Bank Auditor (CBA)

The CBA credential from the Bank Administration Institute qualifies you to assess a financial institution’s records for accuracy and compliance. It tests your knowledge of typical procedures and regulations and branches out into state and federal finance laws. Qualified CBAs can work within the bank they’re auditing or for a third-party company specializing in evaluating financial institutions. 

How to earn this certification: 

The CBA exam contains four parts that candidates have to complete within three years. In terms of requirements, you need to have: 

• A bachelor’s degree in accounting.
• At least two years of banking auditing experience.

8. Certified in Financial Forensics (CFF)

The CFF credential is for those who focus on forensic accounting, covering financial fraud, valuation disputes, and litigation support. Another AICPA pathway, it gives you the skills to excel in one of the fastest-growing areas of finance. 

How to earn this certification: 

There are two pathways to the CFF credential: 

• CFF Standard Pathway: 1,000 hours of financial forensics experience within the past five years and 75 hours of related continuing professional education.
• CFF Experienced Pathway: 10,000 hours and seven years of financial forensics experience and 75 hours of related continuing professional education.

Those following the Standard Pathway take the Global Standard CFF Exam: A four-hour exam of 175 online multiple-choice questions.

Those following the Experienced Pathway take the Experienced CFF Exam: A two-hour exam of 95 online multiple-choice questions.

9. Certified Information Systems Auditor (CISA)

The CISA is a globally recognized certification that prepares you to audit, control, monitor, and assess an organization's IT and business systems. Administered by ISACA, the CISA is a forward-thinking credential that delves into AI and blockchain to keep auditors on top of the latest trends and industry regulations. 

How to earn this certification: 

After registering, you have 12 months to take the exam, which consists of 150 questions across five job practice domains:

1. Information Systems Auditing Process
2. Governance & Management of IT
3. Information Systems Acquisition, Development & Implementation
4. Information Systems Operations & Business Resilience
5. Protection of Information Assets

ISACA offers copious resources to prepare for the CISA exam, with group training, self-learning routes, and manuals to get you prepared. 

As automation and data sharing play an increasingly important role in all areas of accounting, 88% of employers agree that it’s important to have an accountant who understands technology. Therefore, knowing how to implement leading accountancy tools like Netgain can help you stand out in a competitive job market. 

Benefits of earning an accounting certification

Accountants wouldn’t take on the time and financial investment to earn an accounting certification for nothing. Both exam candidates and employers know the benefits of top accounting certifications, including:

Boost income potential 

An accounting certification can significantly increase your income potential. Certified professionals are usually fast-tracked to higher salaries, bonuses, and more advanced positions than their non-certified counterparts. The most recognized certifications, like the CPA or CMA, are a great starting point, often leading to substantial pay raises and promotions in both the public and private sectors. 

Enhance professional credibility 

Accounting certifications show a commitment to professional development and a high level of expertise in your chosen field. They reassure employers and clients that you have the skills and knowledge to take on complex tasks and stick to ethical standards. This credibility can lead to greater trust and a stronger professional reputation. 

Broaden career opportunities 

The more you know, the more career paths you unlock. Whether you want to be a forensic accountant, internal auditor, or financial analyst, a certification is the best way to gain specialized knowledge for these roles. With an accounting certification, you can also explore opportunities in different industries, including government, healthcare, and technology, expanding your career options.

Grow your professional network 

Earning a certification connects you with a global community of professionals and opens opportunities for networking, mentorship, and collaboration. Many certification bodies, such as the AICPA, offer exclusive events, webinars, and forums where certified members can share insights and learn from peers. This expanded network is a hotbed of valuable connections, potential job opportunities, and access to industry trends and knowledge.

Learn more about accounting certifications 

Now that we’ve covered what accounting certifications are out there and how they can help your career, here are the answers to some commonly asked questions. 

What is the best certificate for accounting?

For general practice, the CPA is often considered the gold standard due to its broad applicability and recognition. However, specialized certifications like the CMA or CISA may be more valuable for roles in management accounting or IT auditing. 

Is an accounting certificate worth it?

Yes, an accounting certificate is absolutely worth it — as long as it is widely recognized. The new skills, experience, and confidence they give you translate into better career opportunities and usually higher salaries. Certifications can also help accountants stay current with industry standards, practices, and technology, positioning them as knowledgeable and credible professionals. 

What are the two types of certifications in accounting?

The two main types of certifications in accounting are general and specialized. General certifications, such as the CPA, cover a broad range of accounting principles and practices that are applicable to almost all accounting roles. Specialized certifications, like the CFE or CFF, focus on specific areas that are used in more niche jobs. 

What's higher than CPA?

Certifications like the CFA or CGMA are seen as a step up from the CPA. While the CPA credential is highly respected in public accounting and auditing, the CFA is often regarded as the top credential in investment management, and the CGMA is valuable for those in management accounting and executive roles. The "higher" certification ultimately depends on your career goals and the specific skills you want to highlight.

Explore accounting certifications to elevate your career 

Founded by CPAs and former Big 4 accountants, the team at Netgain knows exactly how valuable accounting certifications are for: 

• Opening doors to new opportunities
• Enhancing professional credibility
• Boosting your income potential

But we also know that accountancy isn’t just about the theory — you need to know how to apply it. 

We developed solutions like NetLease, NetAsset, and NetCash to automate accounting processes, eliminate repetitive tasks, and maintain a healthier work-life balance. Instead of getting lost in spreadsheets, reports, and the month-end close process, you can simplify everything from loan management and asset tracking to compliance and account reconciliation all from one place.

So if you’re looking for tech solutions to lay the groundwork for your accounting team, book a demo with Netgain today.