Best CAPM Exam Prep Books: What are they?
CAPM stands for Certified Professional Management. It is a designation given to individuals who have completed the CPA examination. A certified professional manager (CPM) has passed both the theory and practical portions of the CPA exam. They may not only be able to perform accounting functions but also other business related tasks such as budgeting, financial planning, tax preparation and many others.
The CPM designation was created to provide additional assurance that those who have successfully completed the CPA exam possess the necessary skills and knowledge to manage their own businesses effectively. While there are several types of CPAs, most of them specialize in one or two areas. There are also various levels of certification available from BCPAs through CCPs to CMMs. These levels represent different degrees of expertise and training required to become a CPM.
What are the benefits of becoming a CapM?
There are numerous benefits associated with being a certified professional manager. One benefit is that it gives you the ability to work independently without having to rely on someone else’s supervision. Another advantage is that you will have greater job security and higher compensation than if you were working as an independent contractor. You can expect to receive better pay because of your superior education level and experience.
Many organizations will only hire CPMs because they are looking for individuals who have proven their ability to think critically and make decisions by themselves. Another benefit of being a CPM is that you can get funding for your own business since banks and other lending institutions are more likely to lend to those who have the best education and experience in the industry.
To become a CPM, you will need to pass both the written and the performance exams. If you fail one of the exams, you can take it again after a certain period of time. Each state has its own requirements for becoming a CPM, but most require that you already have a four-year degree in accounting or a related field.
What is the average salary of a CapM?
The average salary of a CPM can range from $80,000 to over $300,000 per year, depending on your level of experience and education. A Level I CPM with no education past a high school diploma can expect to earn between $80,000 and $100,000 per year. A CPM who has completed a bachelor’s degree, but has not yet completed the requirements for a CPA may earn between $100,000 and $125,000 per year.
A mid-level CPM will typically earn between $125,000 and $150,000 per year. This category includes those with a Level II CPM that have completed all the necessary education to sit for the CPA exam, but have not passed it. Those with Master’s degree will fall into this category, and may earn as much as $125,000 per year. A highest level CPM includes all those with both a CPA and a Master’s degree who work in senior positions such as Chief Financial Officer or Chief Executive Officer. This type of CapM may earn as much as $300,000 per year.
What are the education requirements to become a CapM?
Most states require that in order to become a CPM, you will need to complete at least 150 credit hours of college coursework. You will typically need a four-year degree from an accredited college or university in accounting, finance or a related field. To become a full CPA, you will need to pass the Uniform Certified Public Accountant Examination. Most states also require that you complete at least 150 credit hours of college coursework.
What is the job outlook for CapM?
The job outlook for CPMs is very positive. There will be a high demand for these professionals in the coming years because many of those in the field are expected to retire in the next decade. Most of these new CPMs will need at least a four-year degree, so these individuals will have a leg up on those without the advanced education.
Where can CapM’s work?
Most CapM’s work in the public accounting field, where they typically work for a small firm as a consultant or as an employee. Many others work for private businesses, banks or lending institutions. Still others work for the government in positions such as chief financial officer.
Sources & references used in this article:
CAPM exam prep: accelerated learning to pass PMI’s CAPM exam by R Mulcahy – 2013 – cds.cern.ch
CAPM Exam Quicklet: Certified Associate in Project Management Practice Exams by P Sanghera – 2007 – dl.acm.org
Project management workbook and PMP/CAPM exam study guide by H Kerzner, FP Saladis – 2017 – books.google.com
Pmp exam prep: all the help you need, from start to finish (video training for the pmp certification exam) by CM Baca – 2008 – dl.acm.org