CPA vs CMA: public accounting or management accounting?
The CPA is a state license and the only one that lets you sign audit opinions; it suits public accounting and many corporate roles. The CMA is a certification in management accounting and financial planning inside companies. Many accountants hold both.
| Compared | CPA | CMA |
|---|---|---|
| What it is | A state license to practice public accounting, including signing audit opinions | A certification in management accounting and financial management, from the Institute of Management Accountants (IMA) |
| Education | Set by each state: most have required 150 college credit hours, and many now also accept 120 hours plus two years of experience | A bachelor’s degree, which you can finish within seven years of passing the exam |
| Experience | Set by each state, usually one or two years of supervised work | Two years in management accounting or financial management, which can come after the exam |
| The exam | Four sections: three core sections and one discipline you choose | Two parts, each with multiple-choice questions and essays |
| Cost | About $1,200 to $1,400 in exam and application fees, varying by state, plus a review course | Student rates: $49 IMA membership, a $225 entrance fee and about $407 per part |
| Best for | Audit, tax and advisory at accounting firms, and many corporate roles | Corporate finance, FP&A, cost accounting and internal reporting |
Which should you take?
Choose the CPA if you want to work in public accounting (audit or tax), where firms expect it, or want to keep the most doors open in accounting. Check your state board’s education rule early, because it shapes your course plan.
Choose the CMA if you see yourself in a company’s finance team, budgeting, forecasting and analyzing costs. It takes less time and costs less than the CPA.
Where to start
- CPA — Certified Public Accountant — AICPA / NASBA. Paid ~$1,200–$1,400 in exam and application fees (varies by state), plus a review course ($1,500–$3,000). Each state sets its own licensing rules: most have required 150 college credit hours, and many now also accept 120 hours plus two years of experience. Glossary entry
- CMA — Certified Management Accountant — IMA. Paid Student rates: IMA membership $49 a year, a $225 entrance fee and about $407 per exam part (two parts). Professional rates are higher. Glossary entry
Fees, exam formats and eligibility rules change. Everything here was checked against each provider's own pages on October 23, 2026; confirm on the provider's site before you register or pay.
Questions students ask
Can I get both the CPA and the CMA?
Yes, and many accountants do. They test different things: the CPA centers on audit, tax and financial reporting; the CMA on planning, analysis and decision-making inside a company.
Do I need 150 credit hours for the CPA?
It depends on your state. Most have required 150 college credit hours, and many now also allow 120 hours plus two years of experience. Check your state board of accountancy.
