Question

Explain why the standards for a Certified Management Accountant (CMA) differ from those of a Certified Public Accountant (CPA), or a Certified Internal Auditor (CIA).

Given an internally used report versus an external Financial Report, provide examples of how the standards are different. Why do you think this is the case?

Answer 1

Why the standards for Certified Management Accountant differ from those of Certified Public Accountant.

CMA have combination of financial accounting and strategic management such types of profession focus on such two types of field like financial accounting and strategic management and Certified Public Accountant (CPA) profession focus on accounting certification.

both the license have different careers. CPA generally work for public accounting firms and CMA works in private firms.

Why the standards for Certified Management Accountant differ from those of Certified Internal Auditor ( CIA).

CIA stands for Certified Internal Auditor role of CIA is to internal audit also responsible for final audit,also check the company finances.CIA role is limited to internal management of company he is also responsible for day to day internal report of company.

wheres,

CMA primarily handles the planning, control,and decision making and analysis.

Internally used reports versus External Financial Reports.

Please find the attachment herewith.