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Why is CMA One of the Best Management Accounting Courses?
Admin 29 Dec, 2023 Introduction
If you work in the financial, accounting, or business industries, a Certified Management Accountant (CMA USA) credential can help you advance in your career. This widely recognized certification is awarded by the Institute of Management Accountants (IMA), an organization with its headquarters in the US, and it certifies a student's understanding of important financial planning and management topics. With the help of the CMA course, one of the best management accounting certifications, you might raise your profile and open up additional work prospects that offer better salaries and other advantages.
You might be wondering now why you would need another certification if you have previously completed or are currently doing a certification or degree program in finance, accounting, or business. The fact is that a US CMA course teaches you many different topics that aren't often covered in regular Management Accounting Certifications. And because of this, you stand out from the competition when applying for the position that you want.
Let's look at a few benefits of holding a US CMA certification that will justify why this course is one of the best management accounting certifications:
Benefits of Pursuing the US CMA Certification
The following are a few significant advantages of pursuing the CMA USA Course, clearing its certification exam, and getting certified.
Business Appeal
The most important part of having a US CMA certification is that it is regarded as one of the best management accounting certifications since it perfectly combines the skills required for business and accounting. Corporate governance and other crucial business topics are covered in great detail in the US CMA course. Therefore, students who have earned a US CMA certification are able to make decisions for the company or participate in group decisions. Candidates going for this certification are required to understand the difference between usual accounting and practical accounting, which is beneficial. Therefore, doing the CMA USA course and obtaining its certification will improve your knowledge & marketability.
Potential for Career Advancement
Compared to college graduates without additional certificates, CMA USA course applicants are more likely to be offered entry-level positions and prospects for growth. The CMA USA certificate is an indication that you are going to do more handling than simply accounting and account management, making it simple to navigate the management ladder in the company.
Better Salary Prospects
You are qualified for better compensation than other applicants if you obtain the said certification after completing the CMA course. This is due to the fact that US CMA-certified individuals progress into management more quickly after obtaining the required experience. Because they are in great demand in the job market, they receive higher salaries even when they change jobs.
Worldwide Opportunities
The fact that the US CMA has become recognized worldwide makes it one of the top management accounting certifications. If you want to work abroad in another nation, you will need to obtain a US CMA certification even if you have an accounting degree and can find a solid job in your own country. The CMA USA credential is respected and regarded globally, and you may easily apply for jobs in Western, European, and Middle Eastern nations where salaries are significantly higher.
More Stature & Value
You get more impact and worth as an employee if you have a CMA USA certification since it shows that you have a deeper understanding of business, taxes, finances, and accounting. You don't just do a task; instead, you comprehend the motivation behind it and look for effective ways to complete it so that the outcome exceeds your expectations. You'll quickly become a useful part of the management team since your thoughts will be respected. The likelihood of becoming a CFO after graduation is better for candidates holding a US CMA certification. Therefore, if you have this certification, you will always be given the credit you deserve as an employee.
Monetary Knowledge
The duties of a CMA USA are more specialist than any regular accountant's. Your professional talents will grow if you frequently manage risk, make important investment decisions, and examine and plan your budget. One of the benefits of having a CMA USA certification is that it paves the way for you to advance professionally by allowing you to take on additional managerial-level responsibilities.
So, now we know that the US CMA Course is a benchmark for management accountants that is acknowledged worldwide. Let's now understand what one needs to do to get this certification.
US CMA Certification Requirements
Students can begin their US CMA preparation after finishing their 12th grade. However, you need a bachelor's degree to pass both levels of the CMA USA test and two years of professional/work experience to become a certified CMA USA.
The US CMA certification is highly regarded by accounting & finance professionals since it includes business management and finance training. The CMA USA Certification entitles the holder to membership in an elite group of professionals with expertise in the accounting and finance industries.
US CMA Exam Format
The CMA USA Course has a straightforward, simple-to-understand exam format. A candidate can pass both examinations in a year with just a few hours of dedicated regular study time.
The certification exam is divided into two parts, each covering a distinct set of topics.
- Part A- Financial Planning, Performance, and Analytics
- Part B- Strategic Financial Management
US CMA Career Paths to Pursue After Obtaining a US CMA Certification
The following are the CMA jobs in India for those with US CMA certification:
- Business Analysts - To create business strategies and improve the decision-making process, business analysts gather historical and current corporate data. A career in this industry might be helped by management experience and US CMA certification.
- Account Analyst - Account analysis includes managing client accounts, processing transactions, and examining financial information. Account analysts frequently help businesses manage their customer accounts. An Account Analyst must frequently do industry research and monitor market changes to stay current with the newest trends.
- Budget Analyst - As a Budget Analyst, it will be up to you to keep track of the business's expenses and expenditures to manage the accounting data. A US CMA certification enables you to be employed as a budget analyst anywhere globally.
- In-house Auditor - An important step in evaluating an organization's internal controls and operational procedures is internal auditing. An Internal Auditor's job is to assess the organization's financial and operational performance. In addition to the US CMA, you can register in the Certified Internal Auditor program.
US CMA Salary in India
US CMAs in India make more money than non-CMAs and have access to greater professional prospects. The median total remuneration earned by US CMAs in the Middle East/Africa/India area is 80% more than that of the accountants with general Management Accounting Certifications, and this difference has grown continuously and dramatically over time. They typically make a median yearly total pay of USD 36,000 and a median yearly base income of USD 31,600. CMAs often make two to three times as much money as non-CMAs in most nations. (Ref.)
FAQs
1. Why choose the CMA course?
The "Certified Management Accountant" title denotes proficiency in financial accounting and judgment. Professionals are prepared for a wide range of employment with the US CMA course. CMAs have a higher potential for employment since they will inevitably move up the corporate ladder and may eventually become managers.
2. Is CMA a management accounting?
One of the highest levels of management accounting certifications, Certified Management Accountant (CMA), serves as an international passport for accountants and other financial specialists. A CMA course gives you an edge in the job market by demonstrating your accounting and financial management expertise.
3. How is CMA as a career in India?
In recent years, there has been a steady rise in demand for Cost & Management Accountants (CMA) in India. The amount you are paid will be higher than that of accountants with a fundamental business degree if you hold a CMA certification.
4. What is the scope of CMA USA in the future?
If you want to work in management accounting and have access to possibilities throughout the globe, the CMA Course is one of the best Management Accounting Courses. Because of their extensive expertise in auditing, management, and accounting, US CMAs can operate in the financial and banking industries. They are qualified for mid and senior-level jobs in public and commercial sectors.
5. Which company is best for CMA USA?
Several PSUs and private businesses use CMAs for their finance and cost roles. The list of large companies that provide candidates attractive packages based on the needed skills is provided below:
- Deloitte
- EY India
- PwC
- KPMG
- GAIL (India) Limited
- Nestle
- Indian Oil Corporation Limited
- GENPACT
- Tata Motors
Conclusion
The advantages of being a US CMA are undeniably numerous and may lead to many prosperous and rewarding job options that can reward you throughout your career. So, if you are considering pursuing a US CMA Course, then tread on this career path without any delay, as this excellent professional certification will positively impact your career.
If you want to get your US CMA certification, check out NorthStar Academy's CMA course. NorthStar Academy supports your success by offering you a faculty that is US CMA-qualified, 100% placement assistance, 1:1 mentorship support, and personalized study plans. Our highly qualified and experienced mentors, like M. Irfat Sir, will always be there to help you on the way to getting certified as a professional CMA USA.
We are certain that you will be able to pass your examinations in one sitting thanks to our CMA USA Course!