This section of the course project will build on the information you gathered in Module 03 and use it to compose a gap analysis and road map to achieve your goals.

Looking back on the analysis completed in Module 03, choose the accounting industry-focused certification that you would like to pursue. This link may be helpful:

http://guides.rasmussen.edu/business/accounting. Concentrating on this one certification, compose a Gap Analysis detailing your current state (where you are right now), the desired state (meeting the requirements of certification), and the gaps between the two states. Use these gaps to compose a plan to get from the current state to desired state. The example below will help you to formulate your plan.

In the below example, the CMA Certification has been chosen.

Current State Not a member of IMA.

Desired State Member of IMA.

GAP Join the IMA.

Current State NO exams completed.

Desired State Successfully complete 2 exams.

GAP Study, review, and successfully take each exam.

Current State 2 classes left to complete the degree.

Desired State Bachelor's degree completed.

GAP Successfully complete 2 remaining classes.

Current State No eligible experience.

Desired State 2 years eligible experience.

GAP Obtain a job that will meet the eligible experience requirement and complete 2 years.

Based on the above analysis this individual would compose a plan to bridge each gap. The analysis itself is typically in a table format such as shown above. However, the plan to bridge each gap should be very specific and include specific tasks to complete to bridge each gap and a timeline for completion.

Module#3

Certification Evaluation

Certified Management Accountant (CMA) and Certified Information Systems Auditor (CISA) are two industry certifications in the accounting field that offer unique benefits and cater to different areas of expertise. Let's explore the requirements, exam content, and ongoing obligations for each certification, as well as discuss the benefits and my personal preference. The Certified Management Accountant (CMA) certification requires candidates to hold a bachelor's degree from an accredited institution or possess a professional certification like Certified Public Accountant (CPA). No specific major is required. Additionally, candidates need at least two years of continuous professional experience in management accounting or financial management, which can be obtained before or after taking the CMA exam.

The CMA exam consists of two parts: Financial Planning, Performance, and Analytics, as well as Strategic Financial Management. Each part comprises multiple-choice and essay questions. CMAs must adhere to the Institute of Management Accountants' (IMA) Statement of Ethical Professional Practice, ensuring confidentiality, integrity, and avoidance of conflicts of interest. Joining the IMA and paying annual membership fees is also a requirement. The CMA exam covers a broad range of topics including financial planning and analysis, performance management, cost management, internal controls, strategic planning, risk management, and professional ethics. To maintain the certification, CMAs must fulfill the IMA's continuing professional education (CPE) requirements, which include earning 30 CPE credits annually.

On the other hand, the Certified Information Systems Auditor (CISA) certification targets professionals involved in information systems auditing and security. Candidates need at least a bachelor's degree or higher, with a certain number of years of relevant work experience. The CISA exam, administered by the Information Systems Audit and Control Association (ISACA), covers multiple-choice questions in domains related to information systems auditing, control, and security. Adherence to

ISACA's Code of Professional Ethics is mandatory, emphasizing principles like integrity, objectivity, confidentiality, and professional competence. Membership with ISACA and payment of annual fees are prerequisites for the certification. The CISA exam encompasses topics such as information systems auditing processes, IT governance and management, systems acquisition, development, and implementation, information systems operations and business resilience, and protection of information assets. To stay updated in the field, CISAs must maintain ISACA membership and acquire continuing professional education (CPE) credits.

Both certifications offer distinct benefits based on career aspirations and interests. The CMA certification is well-suited for individuals passionate about finance, strategy, and management accounting. It caters to professionals aiming for careers in corporate finance, management accounting, or financial planning and analysis. The CMA designation showcases expertise in financial decision-making, cost management, and strategic planning. On the other hand, the CISA certification is specifically tailored for those interested in IT auditing, information systems security, and technology risk management. It holds significant value in the IT audit and cyber security fields, demonstrating knowledge of auditing processes, IT governance, and information security controls.

Choosing between the two certifications depends on personal goals and aspirations. If finance, strategy, and management accounting are captivating, pursuing the CMA certification would be an appropriate choice. Conversely, individuals with a keen interest in IT auditing, information systems security, and technology risk management would likely find the CISA certification more appealing.

Ultimately, selecting the certification that aligns with one's career goals and interests is crucial to derive maximum value from the certification and unlock relevant opportunities in the accounting industry.