Adapting to Change: How CMAs Drive Business Agility in Crisis Situations

Introduction

The past few years have been extremely turbulent and testing times for everyone, especially for multinational companies with a global presence providing services and products. Companies of all sizes and natures have been affected by the pandemic and subsequent events in the world economy, influencing their businesses and the markets worldwide. Even startups and small businesses have been severely affected and have faced difficulty handling finances coupled with sudden technological shifts to handle the pandemic crisis. 
In such turbulent situations, it is important to have employees adept at risk and crisis management along with expertise in finance, management, and business accounting. The US CMA certification in India offers such coverage and depth of knowledge in crisis management in education, along with skills in financial accounting.
In this article, we will discuss the importance of risk and crisis management, approaches to risk management, the USA CMA certification, and how it can help businesses of different scales in crisis management. 
Importance of Risk Management
A business can be affected by many risk situations, which can affect its financial stability. You can deal with it by having a strong risk and crisis management plan in place and reliable executives to execute it properly by preparing resources or plans to tackle upcoming threats. 
Here are some ways in which risk management is important.
  • The creation of a safety valve in case of a crisis can be done through risk management.
  • Risk management is also important to make employees, stakeholders, and clients of a company feel safe and secure about the operations of the company. 
  • By having a proper crisis management plan, a business can reduce liability and unnecessary risks and avoid costly legal litigations in case something goes wrong.
How the CMA USA Helps in Risk Management
There can be several ways in which risk may arise. From cybersecurity threats to regulatory changes, anything can be considered a risk. These are not preventable risks from the point of view of a company. The risks arising from a company's operations and the volatility of a market can be managed and prevented with a strong business foundation and executives adept at handling risks, along with other areas of business like management accounting. It is where a US CMA comes in with dedicated expertise in business management and education in crisis mitigation. 
The US CMA certification curriculum contains topics on crisis management that impart essential knowledge and credentials to an individual, instilling knowledge of business management and financial accounting. It makes US CMA professionals holistic management accountants.
Due to their vast expertise and knowledge in a wide range of topics concerning sound financial management and the business operations of a company, US CMA professionals are in high demand across several industries that require the assistance of management accountants. The US CMA certification is one of the top management accounting certifications and offers excellent career opportunities and CMA jobs in India and abroad.
Read ahead to learn more about the US CMA certification in detail.
What is the USA CMA certification?
The US CMA, or US Certified Management Accountant, is a highly sought-after qualification in finance, business accounting, and management that has the highest standard of competence among accounting education courses. The US CMA is an internationally recognized qualification and is offered and administered by the Institute of Management Accountants (IMA) to those candidates who qualify for the US CMA certification exam conducted by the IMA. You can earn the CMA credentials by studying and appearing for the US CMA certification exam by enrolling in CMA classes in India. 
The details of the US CMA course have been discussed below.
US CMA Course Details
The US CMA course duration in India is an average of 1 year, but if you enroll in a CMA course in India, you can complete the course in about 6-9 months only! The CMA course fee in India is around INR 1.3 lakhs. Before you start preparing for the US CMA exam, knowing the syllabus, exam pattern, and other relevant details is important.
US CMA Syllabus
The US CMA syllabus contains two broad parts: 
  • Part-I: Financial Planning, Performance, and Analytics
  • Part-II: Strategic Financial Management.
Each CMA exam part contains six subtopics covering subjects like Corporate Finance, Cost Management, Investment Decisions, Budgeting, Planning, Forecasting, etc., each carrying a different weightage. The Part-II paper on Strategic Financial Management has given crisis management as a subject 10% weightage.
The CMA USA certification exam is held in different exam windows spread across the year. Candidates can schedule their exams according to their preferences and preparation level. The testing windows are available at the following sessions:
  • January/February
  • May/June
  • August/September
US CMA Exam Pattern
The US CMA certification exam contains multiple-choice questions and two essay-type questions in both parts of the exam. The duration of each exam in the US CMA certification exam is 4 hours, and the total marks allotted is 500. In order to pass the US CMA certification exam, candidates need to obtain at least 75%, or 360 marks out of 500. 
US CMA Career Opportunities
The US CMA certification in India offers lucrative career opportunities with ample growth and development chances. US CMAs can start with an entry-level job and work their way up to become the Chief Financial Officer (CFO) of the company they're working for. Since the US CMA certification is globally recognized, candidates obtaining it are eligible to work in those countries where it is accepted. The US CMA has a presence on every continent worldwide, including countries like the USA, UK, Australia, Singapore, India, Canada, UAE, etc. 
With the US CMA certification in India, you can get high-paying job roles, including:
  • Finance Manager
  • Finance Controller
  • Internal or In-house Auditor
  • Taxation Expert
  • Cost Accountant
  • Cost Auditor
  • Business Analyst
  • Business Manager
  • Accounting Manager
  • Corporate Controller
  • Senior Accountant, etc.
FAQs
  1. How does the CMA handle a crisis situation?
US CMA certification in India provides the opportunity for candidates to learn and have a profound understanding of a wide number of subjects, including risk management in business. They can use their knowledge of business and financial decision-making and their accounting ability to assess the risks and crisis situations in the company and help the top management take steps in the right direction and make the right decisions to avoid crises.
  1. What is a CMA professional?
A CMA professional is an individual holding the credentials of the highly coveted USA CMA certification. The IMA offers the USA CMA certification to candidates who qualify for the USA CMA certification exam, and it is a management accounting certification. They are highly in demand and respected for their expertise in finance, accounting, and management. 
  1. What are the different levels of CMA?
The CMA USA course contains only two parts which have to be qualified. Candidates can take the exam of any part before the other, but before they can take the other part, they have to pass the first exam. 
  1. Which CMA is the best in India?
The CMA USA course has the widest acceptance rate, with its presence in over 130 countries worldwide. Pursuing the USA CMA certification in India will lead to a rewarding career in management accounting in India and abroad.
  1. Can Indian CMA work abroad?
After pursuing the USA CMA certification in India, certified USA CMA professionals are eligible to work in countries where the US CMA qualification is accepted. However, Indian CMA candidates may not be eligible to work outside of India, as CMA India is only accepted in India. 
Conclusion
The US CMA certification in India is an all-inclusive management accounting certification, equipping candidates with the knowledge and expertise of crisis management in business and driving the business from a crisis towards financial stability. US CMA certification holders are in high demand across several industries due to their expertise and skills in a vast area of business operations. Pursuing a CMA course in India is a sure way to build an excellent career in accounting with great job benefits and opportunities.
To pursue the US CMA certification in India, you can enroll in the reputed CMA training institute, NorthStar Academy, and be a part of the force changing the dynamics of the world. In the US CMA certification course at NorthStar Academy, you can get various benefits, such as relevant study materials by Beckers, pre-recorded and live US CMA classes, mock tests and simulation tests, placement assistance, and personal guidance from expert mentors like M Irfat sir, who has helped many students clear the CMA USA certification exam over the years.
So don't wait; join NorthStar Academy today and grow your potential to become a successful USA CMA professional today!
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