US EA or CMA: Which One You Should Choose?
US ENROLLED AGENT AND US CMA COURSE
In today’s world, everyone looks for greater job security and international recognition for their qualification. But the question is how to get start. Honestly, who doesn’t want a good designation to kick-start their career? So, in this article, we will specifically talk about two accounting fields. Since every designation in an accounting field has its specific roles and responsibilities.
As a matter of fact, there are many factors that come into play when deciding what the best course is for you, so it’s important to make sure that you’re making an informed decision before enrolling in a course. We’ll understand how US Enrolled Agent and CMA Courses are different and what kind of roles and responsibilities they carry. So, let’s get started!
US EA & CMA Course: Difference
The US Enrolled Agent Course is an IRS-authorized course that provides an agent with the tools to represent taxpayers before the IRS.
The CMA Course is a certification course that teaches students how to manage financial data and how to make decisions on behalf of a company.
US EA vs. CMA: Credentials
The EA represent taxpayers in front of the IRS, and they are trained to handle all matters related to federal taxation.
The Certified Management Accountant (CMA) credential is awarded to the students who have met the educational requirements and passed an examination administered by the Institute of Management Accountants. The CMA credential provides evidence that individuals have met rigorous standards for management accounting education, skills, and experience.
US EA vs. CMA: Education Qualification
- US EA:
- No prior qualification required.
- A graduate with basic accounting knowledge and competency for tax-pertaining content.
- CMA:
- Candidates must have an active IMA membership.
- Must have a bachelor’s degree from an accredited college/university
- Must complete and pass Parts 1 and 2 of the CMA Exam.
US EA vs. CMA: Examination Structure
The US Enrolled Agent Course includes an exam and a practical part. The exam is done in three parts, the first one is a written exam that has 150 questions, while the second part is a multiple-choice test with 50 questions. The third part of the exam consists of 10 essay questions with 100 words each.
The CMA Course includes an examination that consists of two parts: Part 1 and Part 2. Part 1 includes 120 multiple choice questions, while Part 2 includes 40 multiple choice questions as well as six essay questions with 200 words each.
CMA vs. US Enrolled Agent Course Fees In India
A CMA course involves an IMA membership fee, CMA program entrance fee, CMA examination fee, and cost of CMA exam review materials too.
US EA Course fee structure includes SEE exam fees, EA enrolment fees, and EA review course materials.
So, a CMA Course is comparatively costlier than a US EA Course.
Why Pursue CMA?
- Awarded and recognized by the Institute of Management Accountants (IMA).
- You get international recognition
- Greater job security
- Gives you a future outlook of the business and prepares you to meet the evolving needs of the businesses
Why go for US EA?
- Awarded and recognized by Internal Revenue Services (IRS)
- Gives you the opportunity to practice in the USA, India, and abroad
- Greater job security
- Gives expertise in individual tax returns, business tax returns, and representation.
CMA or US EA: Which is more significant?
The US Enrolled Agent Course and CMA Course are both valuable courses for those who want to become tax preparers. The US Enrolled Agent Course is more intensive and requires more time, so it is best for those who have the time and dedication.
Course Parts:
US Enrolled Agent Course and CMA Course are two important courses that provide opportunities for high-paying jobs.
US Enrolled Agent Course is a professional designation for tax professionals. The CMA course stands for Certified Management Accountant, and it’s an exam to become a certified management accountant. Both US EA and CMA have different outlooks on their responsibilities. CMA is more focused on providing a future outlook on the business. On the other hand, US EA is focused on providing expertise in individual tax returns and business tax returns.
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