Top accounting certifications explained

Anyone familiar with the accounting industry quickly discovers a sea of credentials, professional certifications, and impressive titles. For those new to accounting or seeking expert services for their business or individual needs, knowing primary accounting credentials and their assigned duties can be immensely helpful. When considering tasks such as financial reporting, internal auditing, or tax preparation, distinctions among accountants become especially relevant.

Whether you’re charting your own path toward an accounting career or need insight into the qualifications you should look for in a financial professional, it’s valuable to have a clear understanding of top industry certifications before wading in. Our curated overview covers leading, respected accounting credentials, with concise explanations, salary insights, and key facts for each. While this list highlights many certifications prevalent among financial professionals in the U.S., they are, by and large, recognized worldwide, providing significant credibility and demonstrating a high standard of expertise.

Public vs managerial vs financial accounting

Many accountants specialize in public, management, or financial accounting, and each discipline serves a distinct purpose and has a unique client base. Public accounting firms operate independently, providing auditing, tax compliance, advisory, and consulting services to a diverse range of external clients. Within businesses, both management accounting (also known as managerial accounting) and financial accounting fulfill specialized and complementary functions.

Financial accounting focuses on preparing standardized financial statements and reports for external stakeholders, such as investors, regulatory agencies, and government bodies, and strictly adhering to established accounting standards, such as Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS). In contrast, management accounting is more flexible and analytical, geared toward forward-looking insights that support internal business decision-making and strategic planning.

Management accountants and financial accountants are usually employed as in-house team members within corporations, banks, or nonprofit entities, although they may also provide third-party consulting services to organizations seeking expert guidance. Public accountants may work for established firms or operate their own practices, often developing deep expertise in niche markets or specialized industries.

In summary:

• Public accountants: Deliver audit, tax, and financial consulting services to individuals and organizations
• Management accountants: Serve as key partners in business strategy, budgeting, and operational decisions
• Financial accountants: Prepare and report on an entity’s internal and external financial performance

The accounting profession also includes tax professionals who help individuals, families, and businesses with tax preparation, audits, compliance, and various other concerns. Across career paths, numerous licenses and certifications are available. These credentials validate expertise and unlock advanced career and salary opportunities.

How much do accountants make?

An accountant’s salary varies based on whether they’re certified, years of experience, and area of specialization. According to Indeed, the average annual wage for a CPA in the U.S. is about $97,000, and mean base salaries for certified accounting professionals usually range from $90,000 to the mid-$100,000s, with some exceptions:

Keep in mind that higher-level managers and chief officers with accounting backgrounds often earn salaries exceeding $150,000 per year, and some may even reach seven-figure (or above) salaries. The first step to higher earnings and career advancement, of course, is certification: accountants who certify greatly boost their salary potential, often by tens of thousands of dollars per year and potentially by millions over a lifetime.

General and public accountant certifications

The responsibilities of accountants and financial professionals with the titles listed below span a wide range, from auditing financial services to providing valuable consulting on various business matters. While many people associate the term “accountant” with CPA, it’s important to recognize that numerous other credentials exist for those interested in delivering accounting-related financial services. Recognizing the differences between these titles can help clients select the most appropriate financial professional for tasks such as budgeting, analysis, and business decision support.

Certified Public Accountant (CPA)

Purpose: Certifies financial professionals to perform essential financial accounting tasks for individuals, private companies, and organizations.

Administering organization: American Institute of Certified Public Accountants (AICPA)

Average U.S. Salary: $96,677 (Indeed)

Description:

The highly valued and versatile Certified Public Accountant (CPA) designation is one of the most recognized credentials in accounting and finance. Many new graduates pursue the CPA certification before considering more niche designations. Earning the CPA requires passing the Uniform CPA Examination, a state-administered four-section exam that evaluates the core knowledge and advanced skills needed for newly licensed professionals to excel in public accounting. The exam includes three Core sections covering foundational accounting principles, along with a choice of one discipline section to demonstrate mastery in a specific area. When comparing CPAs vs. accountants, it’s important to recognize that while CPAs are widely relied upon and visible accounting professionals, not all accountants are CPAs.

CPA requirements:

Specific CPA requirements are determined by each state, though there are some commonalities across jurisdictions:

• Bachelor’s degree plus 150 total hours of college education (undergraduate or graduate level)
• Completion of upper-level accounting and business coursework
• At least one year of professional accounting work experience
• Successful completion of the CPA exam
• Passing an ethics exam (required in some states)
• Proof of U.S. citizenship (required in some states)

The three CPA discipline areas, Business Analysis and Reporting (BAR), Information Systems and Controls (ISC), and Tax Compliance and Planning (TCP), allow certified public accountants to serve clients better.

Certified Internal Auditor (CIA)

Purpose: Provides professionals with a globally recognized certification for internal financial auditing and compliance.

Administering organization: Institute of Internal Auditors (IIA)

Average U.S. Salary: $96,106 (Indeed)

Description:

Certified Internal Auditors are highly sought-after financial professionals who specialize in analyzing financial records, assessing compliance, monitoring financial risks, and increasing operational efficiency. A Certified Internal Auditor may work in both the public and private sectors, including government agencies and companies of all sizes. These professionals ensure regulatory compliance and provide strategic recommendations to strengthen internal controls and improve business processes.

CIA requirements:

1. Pass the three-part Certified Internal Auditor exam (Internal Audit Fundamentals, Internal Audit Engagement, Internal Audit Function)
2. Hold a master’s degree or higher plus one year of relevant professional experience as an internal auditor, OR
3. Possess a bachelor’s degree and two years of internal audit experience, OR
4. Maintain an active internal audit designation along with five years of professional experience as a certified internal auditor

Many professionals seeking a diverse career in finance and accounting pursue both the CIA credential and a CPA license.

CERTIFIED FINANCIAL PLANNER® certification

Purpose: Recognizes and certifies a professional’s competency in delivering wealth management, tax, retirement planning, and investment services to a diverse clientele.

Administering organization: CFP Board

Average U.S. Salary: $90,378 (Indeed)

Description:

A CFP® professional is a financial analyst qualified to provide investment management, estate planning, retirement planning, tax strategies, and risk management services. While individuals may work as financial planners or analysts without specific certification, earning the CFP® certification is highly valued in the financial services industry. This prestigious certification demonstrates advanced knowledge and increases both employment prospects and professional credibility for financial advisors.

Financial planners and advisors support clients in building holistic, long-term roadmaps tailored to achieving lasting financial health. CFP® professionals assess and address a client’s needs in areas such as investments, health expenses, education, savings goals, and retirement preparation. Notably, the distinction between a CERTIFIED FINANCIAL PLANNER® certificant and other financial advisors lies in the CFP® certification’s broader focus on long-term finance strategies, rather than merely managing portfolios or targeting isolated financial objectives.

CFP® certification requirements:

1. Hold a bachelor’s degree or higher (in any discipline) from an accredited college or university
2. Complete financial planning coursework through a CFP Board Registered Program
3. Pass the CFP® exam and achieve certification
4. Accumulate 6,000 hours of relevant professional financial planning experience OR
5. Complete 4,000 hours of qualifying apprenticeship experience that satisfies additional criteria
6. Undergo a criminal background check
7. Commit to and uphold the industry’s ethical standards

CFP® professionals find rewarding careers across the financial services sector, including banks, insurance companies, brokerage firms, and as independent agents. Many also choose to expand their credentials by joining Registered Investment Adviser (RIA) firms and taking licensing exams such as the Series 7, Series 65, or Series 66. Obtaining this designation confirms advanced competency for those aiming to become recognized leaders within wealth management.

Association of Chartered Certified Accountants (ACCA) Qualification

Purpose: Recognizes a client’s command of accounting services through a globally respected credential.

Administering organization: ACCA

Average U.S. Salary: $68,326 (ZipRecruiter)

Description: The Association of Chartered Certified Accountants (ACCA) is a globally recognized accountancy certification that covers both public practice and management accounting. This internationally accredited institution offers a range of qualifications and diploma programs in collaboration with top universities, making it an appealing choice for candidates seeking a flexible path.

Pursuing the ACCA qualification is a detailed process that involves up to 13 rigorous exams, divided into three major categories: Applied Knowledge, Applied Skills, and Strategic Professional. Each exam addresses core aspects of accounting, including management accounting, financial accounting, business valuation, tax strategy, audit, and applicable legal concepts, preparing candidates for a variety of roles.

ACCA requirements:

1. Achieve minimum qualifying scores in mathematics, accounting, and English during secondary education
2. Complete required levels and exams (up to 9 of the 13 exam papers may be exempted for students with related accounting or finance degrees)
3. Fulfill three years of relevant on-the-job experience in accounting, finance, or business valuation
4. Satisfactorily complete a specialized ethics and professional skills module

The ACCA credential is primarily used outside the U.S. and equips accounting professionals for global opportunities. While the ACCA is not directly equivalent to the U.S. CPA license, obtaining the title enhances the credentials of those engaged in worldwide business or cross-border accountancy roles.

Certified Public Bookkeeper (CPB and CB)

Purpose: Demonstrates aptitude in accounting, payroll processes, and bookkeeping software applications.

Administering organization: National Association of Certified Public Bookkeepers (NACPB) or American Institute of Professional Bookkeepers (AIPB)

Average U.S. Salary: $50,150 (PayScale)

Description:

A Certified Public Bookkeeper (CPB) demonstrates greater knowledge, professional credibility, and advanced bookkeeping skills than non-certified peers. To earn CPB certification, candidates must complete a rigorous four-part exam, verify at least one year of bookkeeping experience, and fulfill continuing professional education (CPE) requirements. Both the National Association of Certified Public Bookkeepers and the American Institute of Professional Bookkeepers serve as accrediting bodies for CPB credentials. Bookkeepers may also pursue the Certified Bookkeeper (CB) designation, which requires passing a comprehensive four-part exam, documenting two years of relevant experience, and adhering to an established code of ethics.

General CPB/CB requirements:

1. Complete the four-part CPB or CB examination (with core content on adjustments, error correction, payroll functions, asset depreciation, inventory management, and internal controls)
2. Demonstrate proficiency with Intuit QuickBooks (industry-standard bookkeeping software) through training or examination
3. Satisfy educational requirements, such as earning an associate’s or bachelor’s degree, as required by the NACPB
4. Sign an ethical conduct agreement
5. Meet work experience minimums (typically one year for the CPB credential, with the CB requiring at least two years)

Although both the AIPB and NACPB grant certified public bookkeeper licenses and similar certifications, their certification processes and eligibility requirements differ. Prospective CPBs should review each organization's qualification criteria to determine which certification best aligns with their career paths.

Management accountant certifications

Management accountants work directly within companies to balance assets and liabilities, support major financial decisions, and pinpoint expansion opportunities.

Certified Management Accountant (CMA)

Purpose: Recognizes a professional’s advanced knowledge of financial decision-making and organizational strategy.

Administering organization: Institute of Management Accountants (IMA)

Average U.S. Salary: $105,943 (ZipRecruiter)

Description:

The IMA administers the Certified Management Accountant (CMA) certification, a globally respected credential for accountants seeking leadership roles. Earning the CMA designation positions professionals for advancement into management and executive positions, including staff accountant, finance manager, and chief financial officer. CMAs are skilled at analyzing financial data, developing strategic recommendations, and driving organizational growth. The IMA also offers the Certification for Strategic Management (CSCA) as an enhancement for CMAs seeking senior-level responsibilities.

CMA requirements:

1. Hold a bachelor’s degree or higher from an accredited college or university in any field
2. Maintain an active IMA membership
3. Complete the two-part CMA exam

To earn the CMA, candidates must also demonstrate at least two consecutive years of professional experience in management accounting or financial management at a non-trainee level.

Chartered Global Management Accountant (CGMA)

Purpose: Recognizes an accounting professional who demonstrates advanced expertise in business operations, management, and leadership.

Administering organization: American Institute of Certified Public Accountants (AICPA) and Chartered Institute of Management Accountants (CIMA)

Average U.S. Salary: $115,738 (ZipRecruiter)

Description:

The AICPA and CIMA jointly established the CGMA (Chartered Global Management Accountant) certification to distinguish professionals with proven skills in management accounting, business leadership, and strategic decision-making. Candidates who hold a bachelor’s degree in business, finance, or accounting are eligible to pursue the CGMA credential (those with degrees in different fields will need to supplement their education with a master’s or other advanced credential). Earning the CGMA also requires passing rigorous exams covering business accounting, operations management, and strategic planning.

CGMA requirements:

1. Become an AICPA or CIMA member, or maintain your current AICPA/CIMA membership in good standing
2. Accumulate at least three years of practical, relevant management accounting experience
3. Complete each exam level, which includes four exams per level (three of which are case study assessments), OR
4. Finish the required CGMA program coursework (also known as the CGMA Financial Leadership Program) and pass the CGMA Strategic Case Study Exam
5. Comply with the AICPA Bylaws and Code of Professional Conduct

As with the ACCA, the CGMA is ideal for those pursuing roles in international finance or multinational organizations. Professionals who already hold a CPA or other accounting certifications often have a streamlined path to earning the CGMA, making it a viable option for those interested in pursuing managerial accounting or global finance.

Financial and Managerial Accounting Associate (FMAA)

Purpose: Serves as an entry-level credential designed to create a bridge into advanced management accounting certifications.

Administering organization: IMA

Average U.S. Salary: $94,000 (Glassdoor)

Description: The Financial and Managerial Accounting Associate (FMAA) credential, awarded by the IMA, is ideal for students, early-career professionals, and individuals considering a career change into management accounting. The FMAA provides foundational recognition for those seeking to build expertise in financial and managerial accounting concepts. Many choose the FMAA as a stepping stone toward the prestigious CMA certification, while others earn the license to deepen their understanding of accounting principles and enhance their qualifications in the field.

FMAA requirements:

• Register with the iMA
• Successfully pass an 80-question multiple-choice FMAA exam

There are no membership prerequisites to take the FMAA exam, but non-IMA members must pay a $49 fee to maintain the FMAA credential. This makes the FMAA accessible to anyone interested in establishing a solid career foundation, regardless of current membership status.

Specialized accounting credentials

Individuals who want to perform specialized roles in accounting or supplement their current credentials should consider these certifications.

Accredited in Business Valuation (ABV) Certification

Purpose: Validates an individual’s high-caliber capabilities in assessing business valuation during mergers and acquisitions, public offerings, and a variety of other financial scenarios.

Administering organization: American Institute of Certified Public Accountants (AICPA)

Average U.S. Salary: $106,000 (PayScale)

Description:

The Accredited in Business Valuation (ABV) certification is a distinguished professional credential for those specializing in business valuation. Professionals who earn the ABV demonstrate advanced skills in determining a business’s fair value, which is necessary for financial reporting, litigation support, mergers, acquisitions, and other key business events. To qualify for the ABV certification, candidates must be CPAs or valuation professionals with a bachelor’s degree, maintain AICPA membership, and meet continuing education, business education, and examination requirements.

ABV Pathway for CPAs requirements:

1. Complete 1,500 hours of hands-on business valuation experience
2. Fulfill 75 hours of valuation-focused continuing professional development
3. Successfully pass the ABV exam or another approved assessment

ABV Pathway for financial professionals requirements:

1. Complete 4,500 hours of business valuation experience
2. Fulfill 75 hours of valuation-related continuing professional development
3. Successfully pass the ABV exam or equivalent qualifying assessment

Ethics training is also required for financial professionals pursuing the ABV, though CPAs are exempt because they already meet ethics standards through their licensure process.

Certified Financial Analyst®

Purpose: Recognizes skilled investment portfolios and wealth managers with an official credential.

Administering organization: CFA Institute

Average U.S. Salary: $110,000 (PayScale)

Description:

The CFA® designation, awarded by the CFA Institute, is acknowledged globally as one of the highest designations for investment portfolio managers and financial analysts. Achieving the CFA® charter demonstrates advanced competence in asset management, financial strategy, and leading investor teams at financial institutions. Earning the CFA® designation sets experienced finance professionals apart in highly competitive markets and is often sought by those overseeing investment operations.

CFA® charter requirements:

1. Possess a bachelor’s degree or be currently enrolled as an undergraduate student with 23 months or fewer remaining in your program
2. Hold a valid international travel passport
3. Be prepared to complete all CFA® exams in English
4. Reside in a participating partner country
5. Satisfy work experience requirements (4,000 hours of professional financial industry experience)
6. Pass all three rigorous levels of the CFA® exam

Each level of the CFA® exam must be successfully completed before advancing to the next. The four-year degree requirement must be met before attempting Level III.

Certified Fraud Examiner (CFE)

Purpose: Recognizes a financial professional for their abilities in fraudulent tactics, investigation, and fraud prevention.

Administering organization: Association of Certified Fraud Examiners (ACFE)

Average U.S. Salary: $147,203 (ZipRecruiter)

Description:

The Certified Fraud Examiner (CFE) credential signifies advanced proficiency in detecting, investigating, and preventing financial fraud. CFEs are recognized for their specialized knowledge in four core areas: financial transactions and fraud schemes, investigative techniques, legal aspects of fraud, and the deployment of fraud prevention strategies. CFEs often work as external auditors, special agents, risk managers, and compliance officers, analyzing financial records to uncover evidence of suspicious activity.

CFE requirements:

1. Maintain an active membership with the ACFE
2. Accumulate at least two years of professional experience in fraud-related roles
3. Successfully pass the CFE exam
4. Commit to the ACFE code of professional ethics
5. Achieve a minimum of 40 eligibility points to sit for the CFE exam and at least 50 points for full certification

Eligibility points for the certified fraud examiner designation can be earned through a combination of relevant education and work experience, as outlined on the ACFE’s website.

Tax certifications

Many accountants provide tax services, though some professionals choose to specialize in this area and hold the following certifications.

Certified Tax Preparer

Purpose: Certifies an individual to handle tax documents for individuals and companies, including filings, audits, and related IRS tax processes.

Administering organization: Internal Revenue Service (IRS) / Accreditation Council for Accountancy and Taxation (ACAT)

Average U.S. Salary: $37,092* (ZipRecruiter)

Description:

A certified tax preparer, such as an Accredited Tax Preparer (ATP) or Enrolled Agent (EA), is a general title that authorizes the preparation of tax returns and documents on behalf of both individuals and companies. After earning an appropriate certification, such as the CPA, ATP, or EA designation, and receiving a Preparer Tax Identification Number (PTIN) from the IRS, professionals may legally perform tax preparation and handle IRS-related matters. The ATP exam is administered biannually and qualifies tax preparers to represent clients in specific scenarios.

Tax preparer requirements:

1. Obtain a relevant financial certification
2. Receive a Preparer Tax Identification Number (PTIN) from the IRS
3. Take and pass the ATP exam if pursuing that designation

A certified tax preparer must also have expertise with professional tax preparation software to ensure efficiency, compliance, and accuracy. Ultimately, “tax preparer” is a more general title encompassing several roles in financial services, though it is a valuable field to pursue.

* Tax preparer salaries are highly dependent on the other licenses and qualifications a financial professional has. A CPA who also does tax prep will, for example, have a salary closer to the average for CPAs.

Enrolled Agent (EA)

Purpose: Recognizes the highest level of tax professionals, authorizing them to represent clients before the IRS in all tax matters.

Administering organization: IRS

Average U.S. Salary: $72,507 (ZipRecruiter)

Description:

Enrolled agents (EAs) are federally licensed tax professionals empowered to represent individuals and businesses in all communications and proceedings with the IRS. This license is the only tax certification that recognizes practitioners' right to advocate for taxpayers during audits, appeals, and collections. To earn the IRS EA designation, candidates must pass the Special Enrollment Examination (SEE), a rigorous three-part exam covering individual and business taxation, ethics, taxpayer representation, and the IRS Code of Federal Regulations, as well as its practice and procedure.

EA requirements:

1. Obtain a valid Preparer Tax Identification Number (PTIN)
2. Pass the comprehensive three-part EA exam administered by the IRS
3. Successfully complete both a criminal background check and a tax compliance investigation

Other specialized licenses

Accounting professionals aiming to specialize in a particular niche or investigation area have numerous opportunities to elevate their credentials:

• Certified in Financial Forensics (CFF): Awarded by the AICPA, this credential demonstrates expertise in analyzing complex financial data for signs of fraudulent activity, such as embezzlement or tax evasion.
  • Average salary: $124,000 (PayScale)
• Certified Government Financial Manager (CGFM): Focuses on preparing and auditing financial statements for various governmental agencies (local, state, federal). Offered by the Association of Government Accountants, it benefits professionals seeking roles in public sector financial management, often in conjunction with a CPA.
  • Average salary: $85,941 (ZipRecruiter)
• Certification in Risk Management Assurance (CRMA): This internationally recognized certification, administered by the IIA, demonstrates advanced proficiency in risk management and internal audit.
  • Average salary: $126,000 (PayScale)
• Certified Information Systems Auditor (CISA): Administered by the Information Systems Audit and Control Association (ISACA), the CISA credential certifies individuals with expertise in IT system auditing, ensuring the integrity and security of financial information.
  • Average salary: $121,000 (PayScale)

As discussed above, accounting professionals often pursue multiple credentials aligned with their specific field or investigative specialization. Whether a CPA pursuing global management expertise or a CFA® professional licensed for investment oversight, “stacking’ credentials can provide tangible benefits for career growth.

Summing up: Differences between major certifications

What is the difference between a CPA vs a CFA® professional?

A CPA is a highly qualified accounting professional specializing in auditing, tax services, financial analysis, and overall public accounting solutions for both individuals and businesses. CFA® charterholders are elite investment professionals with expertise in business analysis, statistics, economics, and corporate finance.

Holding the prestigious CFA® charter enables these specialists to provide advanced investment and financial advisory services to leading banks and asset management firms. Comparing a CPA to a CFA® certification highlights the differences between fiduciary accounting responsibilities and high-level investment management.

What is the difference between a CMA vs a CPA?

Similar to the distinction between CPAs and CFA® professionals, the CPA is tailored for public accounting, auditing, and tax compliance, while the CMA specializes in corporate finance, strategic management, and internal decision-making.

What is the difference between a CMA vs a CGMA?

The CMA and CGMA are both prestigious credentials that demonstrate expertise in management accounting and strategic financial decision-making. The CMA is particularly well-known in the U.S., while the CGMA is better known in the U.K., Canada, the European Union, and across Asia.

When comparing CMA vs. CGMA, one key distinction is the certification process: earning the CMA requires passing two rigorous exams, whereas the CGMA pathway can involve up to 16 exams. However, experienced and accredited professionals may be able to bypass a significant portion of the CGMA exams. As a result, the CMA is often ideal for those seeking a direct route into managerial accounting roles, while the CGMA designation offers an accelerated path for advanced professionals aiming to excel in global finance.

What is the difference between a CGMA vs a CPA?

The main difference between the CGMA and the CPA is that the CGMA is a management accounting certification, while the CPA is awarded to public accountants. Financial professionals may hold a single or both certifications, depending on their career path, chosen work setting, and the services they offer.

What is the difference between an accountant vs a financial advisor?

Accountants manage, report, and record current financial data, mainly focusing on compliance, auditing, and tax preparation. Financial advisors, on the other hand, help clients make investment decisions and manage portfolios to build wealth. Some professionals, such as CFA® charterholders, provide both accounting services and investment advice to their clients.

Closing thoughts

Accounting offers a range of career pathways and professional titles. Though some are interchangeable, each offers unique advantages and membership in a specific organization that upholds industry standards and maintains certifications. Whether you’re drawn to high-stakes risk management and fraud detection or want to help maintain an organization’s financial records, there’s a path in accounting for you.

A major advantage to accounting as well is that, while a related degree is certainly helpful for passing certification exams, it’s often not required. Many of these certifications offer an accessible pathway into a lucrative industry, provided you take the time to study the fundamentals and sharpen your quantitative skills beforehand. With the right mindset and planning, obtaining a CPA, CIA, CMA, or other certification is not a calculated risk but a viable route toward a long-term, fulfilling career.