CAs must article within industry as part of their designation, often working long, grueling hours. The certification and education process to become a CA is by far the most comprehensive of the accounting designations.
CAs have a better chance of climbing the corporate ladder because they can perform all levels of accounting duties, and CAs can work in a wide range of fields, including business, finance, and public practice. To become a CGA, one must also complete certain levels of education and experience. A CGA candidate must also complete an undergraduate degree, though not necessarily in commerce.
CGAs, like CMAs, will be more limited in the jobs they can have, due to the comprehensiveness of their education programs.
Of those 3 years, you must have a certain number of hours in each field such as audit, tax, etc. Then you have to pass the CMA entrance examination and go through the strategic leadership program. In the strategic leadership program you will need to pass the case and group project.
You will also need to have the work experience. For a CGA, you will need an undergraduate in any field. There are about 2 years worth of CGA courses that you must take through correspondence. There is an extrance exam and usually years of work experience. Note there are exceptions to the exact requirements of each designation. This information is easily found on google. Pros: Out of the three designations, the CA is the most internationally recognized.
The CFA which I will talk about in future posts is actually an even better international designation. There is no arguing here. So if you are planing to work internationally, the CA will bring you more benefits than the other two. Think about it like this. The major con of the CA designation is the time investment and torture you must go through to get it. Also the fact that the CA designation is very narrow and focused in terms of what you do to acquire it. We are only talking about the top top level positions.
Pro: For a CGA designation, it is the easiest to get out of the three designations. On a cost benefit analysis, the additional boost in money you get compared to the time investment is very nice. Professional liability insurance. Compulsory continuing education. Roll of the Order. Professional services to third parties. Professional inspection. Administration and holding of property and sums of money for third parties. Designation and certification.
Public accountancy permit. Guidance for the profession. Whistleblowing and professional secrecy. Guide to the CPA profession in the digital age.
CPAs and sustainable development. Ethics advice and practical tools. Events of the Order. Also, the UFE is recognized as a tough exam to pass and proves that you've reached a certain baseline that employers understand. The designation matters less than where you have worked. Experience trumps all. It's always your experience portfolio and personality that matters.
The only reason people think CA is better is because they have dominated auditing which allows more flexibility in job hunting since you're constantly networking with clients. And of course, all that hype from Big 4 certainly helped build the impression that CA is the way to go.
Plus, most CAs came from Big 4. Having that on your resume opens more doors than if you just worked somewhere no one's ever heard of. Always remember that big 4 can offer better training than most places. Smaller companies aren't looking to spend resources to train someone.
They want to hire someone who can contribute to the company right away.
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