Online accounting certifications -Acquiring and maintaining accounting skills may seem like a daunting task, but the Internet has revolutionized learning and made it much easier. There are several online accounting certifications, courses and programs that offer a great and flexible alternative to traditional classroom programs.
These online accounting courses allow you to learn the basic skills you need for your career, download lectures from the course, work on assignments, take exams, even participate in virtual discussions with classmates, and everything on your own schedule.
Is there any advantage of having online accounting certifications?
Although different degrees of accounting can prepare students for entry-level work in this field, accounting certificates can achieve similar results. These programs can also enable business people to acquire accounting skills and help experienced accountants meet certification requirements.
In addition to providing different specializations, accounting certificates may offer different levels of training. Undergraduate students can receive certificates that provide credits that go into the bachelor’s program or promote industry certification, such as the Certified Public Accountant Certificate (CPA). Students can also enroll in accounting certificates that award graduate study, although these programs are rare.
Many accounting certificates contain internships and practical tasks. Before choosing a program, students must choose the certificate that best suits their goals. Distance students who are considering an online accounting certificate must study the requirements on campus before enrolling.
How long does it take to get online accounting certifications?
Most accounting certificate programs can be completed five months before the year of study, with three to seven required courses. Many will allow students to study part-time or at their own pace so that you can fulfill your current work and family responsibilities while studying.
The programs on our list of the most available accounting certification programs will have nine to 21 credits of coursework, with an emphasis on accounting, along with specific accounting software programs such as QuickBooks, Excel, and Peachtree. There are certification exams in software applications that some programs will prepare you for, which can be an additional document that can be added to your resume.
What is covered and taught in online accounting certifications?
Some online accounting programs will have specialized online accounting courses, such as tax preparation, forensics, small business accounting, or other special areas that you can study. In addition to accounting courses, some certificates include one or two courses of basic educational basics, such as English composition, that can help improve your office-ready skills. With some programs, your courses are customized, while others allow you to choose from a set of possible accounting courses.
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20 Free online accounting certifications
· Financial Risk Manager (FRM) certification
The Financial Risk Manager (FRM) certificate is offered by the Global Association of Risk Professionals (GARP). FRM is designed for financial professionals seeking careers as risk analysts, risk specialists or other positions in risk management. Topics covered by FRM include risk management, such as risk assessment and models, credit risk assessment and operational risk management.
FRM has only one level, but the exam consists of two parts. Subjects can choose both parts in one day or separately. FRM costs about $ 1,500, depending on how early you register for the exam, and takes about a year. The patency for FRM is about 50%.
· Financial Modeling and Valuation Analyst (FMVA) Certification
The Financial Modeling and Evaluation Analyst (FMVA) certification is a financial certification offered by the Corporate Finance Institute®. FMVA is a popular option for corporate finance professionals who want to improve their financial modeling skills. FMVA is built on practical topics and applications, using real-life examples and case studies. The FMVA curriculum includes topics such as financial theory, in-depth Excel skills, how to build financial models, advanced valuation techniques and sensitivity analysis.
In addition, FMVA focuses on teaching students using Analyst Trifecta® best practices. This program focuses not only on financial theory and analytics. In addition, by teaching soft and presentation skills, FMVA will prepare you for all stages of any task or project you will be working on as a financial analyst. The FMVA Finance Certification Program includes over 20 courses and over 50 hours of video instruction.
· Chartered Certified Accountant (ACCA) Designation
The Certified Public Accountant (ACCA) designation is a globally recognized accounting certificate that focuses on topics such as financial management, reporting, taxation, auditing, leadership, and ethics. Unlike the CPA, the ACCA is more recognized and applicable internationally because it focuses on IFRS as opposed to the US GAAP. However, this means that ACCA is less appropriate in the United States. In addition, this is no longer taken into account for exemption from CPA exams.
The ACCA accounting designation consists of three levels (modules) and up to 13 exams. Achieving the title costs about 2,000 pounds, and it takes about three years to complete. Because ACCA has many exams, the pass rate can vary from 30% to 80% depending on the exam.
· Certified Financial Planner (CFP) Designation
A Certified Financial Planner (CFP) designation is an excellent financial certificate for anyone pursuing a career in investment or capital management. This certification focuses on financial planning – high capital and retail investment management segment. Although CFP covers the issue of wealth management, its focus is narrow, making it less applicable to other financial careers.
CFP has two levels and two exams. Upon completion of the CFP, you also receive a Level 1 FPSC (Financial Planning Standards Board) certificate as part of the process. To obtain this designation costs about $ 2,000 and 4 years. The percentage of passing CFP is about 67%.
· Certified Management Account (CMA) Certification
The Certified Public Accountant Certificate in Management Accounting (CMA) is a certificate of accounting offered by the Institute of Managing Accountants. CMA studies financial accounting more and mixes elements of strategic management. Certification involves studying the key factors that underlie a company’s financial performance and what strategic business decisions can be made based on it.
There are no levels in CMA certification, but there is a final exam with two parts that are tested separately. A CMA can cost between $ 850 and $ 2,500, depending on whether you are a student or a professional and whether you purchase additional learning resources. The pass rate of CMA exams is 40-50%.
· Certified Public Accountant Certificate (CPA).
The Certified Public Accountant (CPA) certificate is one of the most important certificates for accountants and also important for a career in finance. For a career in accounting, CPA is actually a required certification. Many employers cite this as a requirement for accounting positions. The CPA program covers topics such as auditing, certification, financial accounting and reporting, business environment and concepts, and regulation.
The CPA has no levels and has a single exam consisting of four sections. Each of these four sections is tested separately, acting as your own exam. Completion of the entire program can cost from $ 1,000 to $ 3,000, depending on the jurisdiction and training program (self-study or live classes). However, accounting firms, especially the big four accounting firms, often pay CPA fees for their employees. The pass rate of the CPA exam is usually about 50%.
· Chartered Alternative Investment Analyst (CAIA) Designation
Chartered Alternative Investment Analyst (CAIA) is a financial certification that focuses on alternative investments. This financial certification is designed for people who want to work in asset management and hedge funds. CAIA primarily covers topics such as hedge funds, private equity, real assets, asset allocation, structured products, risk management and ethics.
Although CAIA is not as universal as other designations, it is very useful for niche areas of finance, particularly for managing alternative investments such as real assets. CAIA consists of two levels and two exams. CAIA registration costs about $ 3,000 and takes one to two years. The passability of CAIA exams is approximately 70%.
· Chartered Financial Analyst (CFA) Designation
The designation of Certified Financial Analyst (CFA) is a well-recognized and sought-after financial specialist worldwide. It is highly valued and often used as a filtering mechanism for firms when they hire financial analysts. However, being comprehensive, CFA advertises a very low level of program completion, which can be explained by the huge amount of material being tested.
The main focus of the CFA is portfolio management and investment analysis. The designation covers topics such as ethics, quantitative methods, economics, financial reporting and analysis, equity, fixed income, portfolio management, derivative financial instruments and alternative investments. The CFA typically takes about four years to complete all three levels of the program. Achieving a CFA title can cost between $ 4,000 and $ 5,000, depending on whether you need to retake any exams and how early you register for them.
· Chartered Financial Consultant (ChFC) Designation
A Certified Financial Advisor (ChFC) is a financial certificate issued by the American College of Financial Services. The ChFC designation was originally created as an alternative to the CFP designation. However, it is less recognizable than CFP.
ChFC includes comprehensive coverage of all types of financial planning, such as insurance planning, income tax planning and retirement planning. Unlike CFP, which has a final exam at the end of the program, ChFC includes exams at the end of each course. ChFC has eight required courses and eight exams. It usually takes six to nine months to get your ChFC destination and costs $ 5,400. There are no published figures on passing ChFC exams.
· Chartered Global Management Accountant (CGMA) Designation
This is a world-renowned accounting certification created by the two oldest accounting associations. If you are a current CIMA member, you are automatically eligible for CGMA, and if you are currently an AICPA member with the right to vote, you have the opportunity to get a faster way to get an appointment. CGMA focuses on topics such as financial and management accounting, reporting and strategy.
CGMA has three levels, each of which consists of three courses that have their own exam. In addition, at the end of each level it is necessary to pass an exam to study an example. Thus, CGMA has a total of 12 exams. Completing a CGMA takes about three to four years and costs approximately $ 3,000 to $ 5,000 if mandatory AICPA membership is included. This amount depends on how long it takes to complete the CGMA. The program provides you with all materials on a subscription basis, and for a longer subscription the price increases.
Online accounting certifications Frequently Asked Questions and Answers
What is the key difference between a degree in accounting and Online accounting certifications?
A bachelor’s degree in accounting makes it easy to work in this field. The certificate may also allow you to receive special training after you have obtained the degree.
How much can I earn with an Online accounting certification?
Most accountants’ salary currently ranges from $22 per hour in the United States. The average salary range for an accountant varies greatly though, suggesting that there may be many opportunities for growth and increased pay depending on skill level, location, and years of experience.
What is the education requirement for becoming a Certified Public Accountant?
The education requirement to become a chartered accountant includes 150 credit hours of general higher education. So, if you have a standard 4-year bachelor’s degree (120 credit hours of education), you still need 30 extra credits to get the certificate. These 30 credit hours can be courses without a degree in any discipline. You just need to take them to a regionally accredited college or university.