Depending on your career goals, there are a range of finance qualifications available. These can include Chartered Global Management Accountant, Chartered Financial Analyst, Chartered Insurance of Management Accountant, and Chartered Financial Planner. Each of these designations comes with its own set of benefits and requirements. Before deciding on the best path for you, make sure to find out what each of these qualifications entails.
Chartered Global Management Accountant
The Chartered Global Management Accountant (CGMA) is a professional management accounting designation that was introduced in January 2012. The organization’s mission is to advance the science of management accounting on global stages. CGMA members are recognized as leaders in the field of management accounting. These professionals must meet certain requirements to receive the designation.
CGMAs must have excellent communication skills and be able to analyze data and make financial recommendations to management. CGMAs also have a strong understanding of accounting principles, guidelines, and conventions. These individuals also have strong business sense and can evaluate various investment options and plan the best strategies to meet business goals.
Chartered Financial Analyst
A Chartered Financial Analyst (CFA) is a highly trained and certified financial analyst. This designation is granted by the CFA Institute and is considered to be one of the most prestigious credentials in the finance industry. Holding this designation increases a person’s chances of obtaining a management position within the industry. Those who have earned a CFA designation are required to pass three six-hour exams.
There are several ways to earn a Chartered Financial Analyst (CFA) certification. Depending on the type of role one seeks, it could be in any of the following fields: accounting, finance, or investment banking. In this field, a chartered financial analyst analyzes company accounting data and creates reports detailing financial transactions. They also determine a company’s financial status and develop a plan to keep it financially stable.
Chartered Insurance of Management Accountants
A CIMA is a Chartered Institute of Management Accountants (CIMA) qualification. This qualification is very useful in the finance field. It shows that you have a thorough knowledge of the theory and practice of management accounting. There are four CIMA exams each year. The exams cover a wide range of topics, such as financial statement analysis and insurance accounting.
The CIMA qualification is internationally recognized and is divided into three levels: foundation, advanced, and professional. It is also a prerequisite for attaining the Chartered Global Management Accountant designation. The CIMA qualification prepares students for a career in the finance industry.
Chartered Financial Planner
A Chartered Financial Planner is a financial planner or adviser who has earned a professional qualification. These credentials are awarded by the Chartered Insurance Institute. Having this credential ensures that a financial planner has undergone rigorous training. If you are considering a career in financial planning or advice, a Chartered Financial Planner is the professional certification you need.
Chartered Financial Planners are responsible for delivering personalized financial guidance to individuals and families. They are also responsible for assisting those who are struggling with their financial situation. They can also help provide pro bono financial planning services to people in need.
