CPA is short for Certified Public Accountant. CPA’s have to pass a gruelling 14 hour exam over multiple days as well as become licensed in their state. In order to maintain his license a CPA is required to take 40 hours of Continuing Professional Education per year.
A CGMA is a Chartered Global Management Accountant. This is basically the management accounting credential administered by the American Institute of CPA’s a test is required as well as two years of experience in management accounting.
Creating a relationship with your CPA is similar to establishing a trusting relationship with other professionals you rely on for sound, objective advice, such as a doctor or attorney.
You want a CPA to help you protect your interests, listen to and address your concerns and, equally important, give you peace of mind.
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I have been a CPA since 1994. I have spent the last 16 years sitting in the Chief Financial Officer (CFO) seat. I have had small (under $10mil) and large (over $3bil) budgets that I have helped manage. I have been an integral part of the management teams of various businesses including a couple of fortune 500 companies, and as a result have seen the good, the better, and the best ways to do business.