Why should Finance and Accounting Students Think about Pursuing the US CMA Certification?

Introduction

Finance and accounting offer some of the best career opportunities, with ample room for growth and enhancing skills and knowledge. With the right finance and accounting professional course, you can bag some of the most sought-after jobs at prestigious organizations and multinational companies. You can also get such an opportunity by pursuing the popular US CMA certification, which provides an individual with the necessary credentials to pursue a career in financial accounting while also having experience in management.
Here, you will learn how to benefit from pursuing the top US CMA certification, but first, let's understand what it is.

US CMA Certification: Overview

The US Certified Management Accountant, or US CMA is a professional certification in the fields of management accounting and business finance that is considered the gold standard qualification for pursuing management accounting certifications. It is an internationally recognized certification that is accepted in many different countries across the globe. The CMA USA certification is offered by the Institute of Management Accountants or IMA, a US-based organization certifying individuals qualifying for US CMA certification.
Clearing the qualifying exam conducted by the IMA enables candidates to obtain the CMA USA certification. To be eligible for the CMA USA exam, candidates must have a graduation degree, which is the minimum criterion. The IMA is also mandated to have two years of work experience, which can be obtained within seven years after clearing the exam.
Let's understand the CMA USA course in detail.

CMA USA Course Details

The US CMA course has a straightforward pattern based on two broad sets of topics
  • Part A - Financial Planning, Performance, and Analytics
  • Part B - Strategic Financial Management
The US CMA certification exam is conducted in two parts based on these two topics. With ample dedication, commitment, and a proper studying strategy, a candidate can clear the US CMA certification exam within 6-9 months. It is also possible to clear the exam in just one attempt by studying under the guidance of world-class mentors at the best US CMA coaching institute
When talking about the US CMA course details, it is also imperative to understand the fees required to study for CMA through a well-organized CMA USA certification course in India. The IMA has two charging schemes for working professionals and students. However, on average, the US CMA course fees in India are around INR 1.3 lakhs when enrolling in a reputed CMA institute for a course where you can get attractive discounts along with other exciting perks.

US CMA Scope

The CMA USA certification offers various career opportunities and job roles for certified professionals. You can consider these US CMA jobs in India:
  • Internal Auditor
Auditing is an essential procedure and an important part of a company because it helps assess the organization's internal controls and business procedures. As a certified US CMA professional, you will be eligible to practice as an Internal Auditor for a company.
  • Business Analyst
As a management accountant, you can undertake the job of helping a company analyze, forecast and plan its business for the upcoming accounting year. The role of a Business Analyst will help you start your career in the corporate world on the right foot and make you a valuable asset to the company.
  • Account Analyst
As an accounting professional, you will be expected to oversee client accounts and assist the company in managing them. The job of an Account Analyst will be to do just the same and help the company by managing their clients' accounts and staying abreast of the latest developments in the company and the market as well.
  • Budget Analyst
As an accountant, you will be expected to maintain a record of the company's expenses and revenues and to make budgetary forecasts for the upcoming accounting year. As a certified CMA USA professional, you can take the role of a Budget Analyst.
  • Tax Manager
Taxation analytics is an important part of studying a finance and accounting course. It is one of the most important topics to make oneself have comprehensive knowledge of management accounting and expertise in taxation laws of the location where one would work for a company. Taxation and auditing are essential for a company to build trust among its employees and stakeholders, as well as to external investors and in the eyes of the government. Thus, CMA USA professionals gain a thorough knowledge of taxation through the course and can become efficient Tax Managers.
  • Finance Manager
Managing the finances of a company is an essential part of its business. As a US CMA professional, you can undertake the role of a Finance Manager and extend your valuable expertise on the subject to benefit your employer and the company as a whole.
  • Cost Accountant
Cost accounting falls under the purview of the US CMA certification curriculum, where you will gain knowledge of business and cost accounting as an integral part of management accounting. It is an important part of business operations and maintenance which is required to establish oneself as a holistic management accountant. With the US CMA certification, you can become a Cost Accountant easily.

Benefits of Having US CMA Certification

  1. International recognition and opportunities
As an internationally recognized qualification in finance and accounting, the CMA USA certification offers certified professionals the opportunity to pursue a career in a wider field in terms of geographical reach and new job openings. The CMA USA certification gives a comprehensive understanding of finance, business, and accounting. It makes certified individuals eligible to participate alongside other CMA professionals at the international level. 
  1. Higher Salary Prospects
According to a study by the IMA, it has been observed that US CMA professionals have higher earning potential by at least 66% than their non-certified counterparts. It is especially true for individuals with just a graduation degree. The average yearly salary of a US CMA in India would be around Rs. 8 lakhs, according to payscale.com. It increases with an increase in experience in the respective industry.
  1. Leadership Skills
Through the US CMA certification course syllabus, candidates are equipped with the knowledge of business accounting and management to become top management accountants. Critical leadership skills are also integrated through the training, which becomes a valuable asset and expertise when working at a manager's level in a company.
  1. Career Opportunities
The US CMA certification opens up a plethora of career opportunities. CMA professionals have the potential to bag better entry-level positions and many opportunities to be promoted up to the top management level. 
FAQs
Q1. Why should I pursue US CMA?
There are many benefits to pursuing US CMA. Firstly, the CMA course duration in India is very short, and it can be completed within 6-9 months with enough dedication and hard work. Being internationally recognized, the US CMA offers many job opportunities in India and abroad and opens up many new job roles to certified professionals. 
Q2. What are the benefits of studying US CMA?
There are many benefits of studying US CMA, some of which may include:
  • International recognition and opportunities
  • Higher salary package than non-certified individuals
  • Better job roles
Q3. Is the US CMA good for the future?
There is a good demand for US CMA in India and abroad. Many companies are looking for individuals adept at financial accounting and with knowledge of business operations and management. There is a fast transition in the corporate world where the role of management accountants is increasing, and certified CMAs are becoming an important asset to the company.
Q4. What is the highest-paid salary for a US CMA?
A US CMA candidate can start his career with an entry-level Finance and Accounting job, and it is possible to work up the corporate ladder to become a company's Chief Financial Officer (CFO). 
Q5. What is the value of CMA USA in India?
With the increasing popularity and demand for CMA USA certification, it is slowly becoming an important and valuable qualification to have in India.
Conclusion
All in all, the CMA USA certification offers a lucrative career with ample job opportunities knocking at the door when you become a Certified Management Accountant professional. It is also beneficial in being time efficient as it can take 6-9 months to complete the dedicated CMA USA course and pass the exams if you have proper preparation and guidance. Enrolling in a reputed CMA institute like NorthStar Academy can help you get several benefits of a US CMA certification course, such as access to relevant study materials from Becker, simulation tests and mock tests for exam pattern-based preparation, and guidance from expert mentors like M Irfat sir, among many other exciting benefits. 
So don't waste your time; if you want to pursue a career in financial accounting, check out the CMA USA courses by NorthStar Academy and join abroad to reach your destination of becoming a Certified Management Accountant.