CMA India vs CMA USA: Differences and 11 factors to help you decide
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Throughout history, the field of accountancy has always been a reliable, stable and lucrative industry. Today, as the corporate world expands exponentially and new businesses emerge rapidly, management accountancy has never been more relevant.
What do management accountants do? They are professionals trained in multiple accounting services to help organisations make strategic decisions and optimise their operations.
It is a highly sought-after profession for most commerce or finance students—however, the quality of your education matters. You need a stellar academic background to be a management accountant on par with the best in the world. One of those certifications is the US CMA credential. The professionals who do this course are globally recognised for their expertise and exceptional skills.
The US CMA qualification is different from the CMA India course. While both offer management accountancy, there are differences to consider before you decide which one is suited for you. So keep reading to learn more about CMA India vs CMA USA.
About the US CMA certification
The US CMA stands for the Certified Management Account. Established by the Institute of Management Accountants (IMA), the CMA is globally celebrated for creating a high calibre of professionals. The course helps you become an expert in strategic management, business decision making and management accounting.
The course is top-rated worldwide. As of today, there are currently over 100,000 US CMAs in more than 150 countries. As a US CMA professional, you can work for some of the top banks, financial institutions and organisations in the world.
The US CMA Syllabus
Part 1: Financial Planning, Performance and Analytics
| SUBJECTS |
|---|
| Financial Statement Analysis |
| Corporate Finance |
| Business Decision Analysis |
| Enterprise Risk Management |
| Capital Investment Decisions |
| Professional Ethics |
Part 2: Strategic Financial Management
| SUBJECTS |
|---|
| Financial Statement Analysis |
| Corporate Finance |
| Business Decision Analysis |
| Enterprise Risk Management |
| Capital Investment Decisions |
| Professional Ethics |
Want To Enroll In US CMA Classes?
About the CMA India certification
In India, CMA stands for the Cost and Management Accounting course. This program was set up by the Institute of Cost and Works Accountants of India (ICWAI). The CMA India course offers in-depth knowledge about financial planning, professional ethics, cost and management accounting. The CMA syllabus offers three levels — Foundation, Intermediate and Final.
The CMA India Syllabus
Foundation course
| SUBJECTS |
|---|
| Fundamentals Of Business Laws and Business Communication |
| Fundamentals Of Financial and Cost Accounting |
| Fundamentals Of Business Mathematics and Statistics |
| Fundamentals Of Business Economics and Management |
Intermediate course group 1
| SUBJECTS |
|---|
| Business Laws and Ethics |
| Financial Accounting |
| Direct and Indirect Taxation |
| Cost Accounting |
Intermediate course group 2
| SUBJECTS |
|---|
| Operations Management and Strategic Management |
| Corporate Accounting and Auditing |
| Financial Management and Business Data Analytics |
| Management Accounting |
Final course
| SUBJECTS |
|---|
| Operations Management and Strategic Management |
| Corporate Accounting and Auditing |
| Financial Management and Business Data Analytics |
| Management Accounting |
CMA India vs CMA USA – 11 Deciding Factors To Decide Your Best Course
To help you decide between these two management accounting certifications, here is an in-depth comparison.
CMA India vs CMA USA – Governing board
| CMA INDIA | US CMA |
|---|---|
| The CMA India course is offered by the Institute of Cost Accountants of India (ICAI). They are a board set up by the Parliament of India. | The Institute of Management Accountants (IMA) has created the highly respected CMA US program. |
CMA India vs CMA USA – Recognition
| CMA INDIA | US CMA |
|---|---|
| The Indian CMA certification is recognised in parts of Asia and the Middle-East. | There are US CMA accounting professionals in over 100 countries including India, UK, Canada, Germany and UAE. |
CMA India vs CMA USA – Affiliation
| CMA INDIA | US CMA |
|---|---|
| Once you complete the CMA India program, you become a member of the Institute of Cost Accountants of India. | A CMA US qualification will give you membership into the IMA network. |
CMA India vs CMA USA – Syllabus
| CMA INDIA | US CMA |
|---|---|
| The CMA India course is divided into three levels: Foundation, Intermediate, Final | The CMA US syllabus is divided into two parts: Financial Planning, Performance, and Analytics, Strategic Financial Management |
CMA India vs CMA USA – Eligibility criteria
| CMA INDIA | US CMA |
|---|---|
| You need a minimum qualification of 10+2 (or any equivalent) | You need either: Any bachelor’s degree from a recognised university, A professional qualification and work experience of over 2 years. |
CMA India vs CMA USA – Difficulty level
| CMA INDIA | US CMA |
|---|---|
| The pass rate for the CMA India exam is roughly 16 to 20 per cent in India. | The pass rate for the CMA US exam is roughly around 50 per cent worldwide. |
CMA India vs CMA USA – Fees
| CMA INDIA | US CMA |
|---|---|
| The total cost for the course is Rs 53,000. | Cost for students: $1050 (Rs 87,150 as per latest currency rates) Cost for professionals: $1380 (Rs 1,14,955 as per latest currency rates) |
CMA India vs CMA USA – Exam Format
| CMA INDIA | US CMA |
|---|---|
| Foundation course: – Has a total of 4 exams – All papers will have 50 MCQs worth 2 marks each. Intermediate course: – Has a total of 8 exams, 4 papers in each group. – Each paper will have 8 questions. – The exams will have descriptive and objective style questions. Final course: – Has a total of 8 exams, also divided into two groups. – Papers will have objective and descriptive-style questions. | Part 1: – This exam will contain 100 MCQs and 2 essay questions. Part 2: – This exam will also contain 100 MCQs and 2 essay questions. |
CMA India vs CMA USA – Job opportunities
| CMA INDIA | US CMA |
|---|---|
| Professionals can apply for job profiles such as: – Staff Accountant – Cost Accountant – Financial Analyst – Internal Auditor – Account Manager | Professionals can apply for job profiles such as: – Financial controller – Financial manager – Financial analyst – Corporate finance manager – Treasurer – Vice President, Finance – CFO |
CMA India vs CMA US – Which one is better for you?
While both qualifications are respected in the accounting community, there are some advantages to doing the US CMA course.
| US CMA | CMA INDIA |
|---|---|
| You only have to take 2 exams in this course. | You have to take 20 exams in this course. |
| You can complete the course within a year. | It can take up to 3 years to complete the program. |
| Your certification is valid in over 100 countries. | Your certification is valid in India, some parts of Asia and the Middle-East. |
Why study US CMA with Proschool?
After carefully reviewing all the features that compare CMA India vs CMA USA, you finally decide on the latter. At this point, it makes sense to enrol with Proschool, one of India’s leading coaching institutions. Proschool offers world-class learning facilities and resources to all students, ensuring a holistic learning experience.
The faculty consists of finance experts with considerable industry experience. These professors use active learning methods and innovative training techniques to help students master their courses.
It’s no surprise that Proschool enjoys a high pass rate among students. The high level of commitment and dedication from the staff ensures that no stone is left unturned towards your professional education.
The CMA US course is widely regarded in the industry, but to get certified you need to pass the rigorous exams. Proschool can help you achieve your goals and ensure your accounting career is off to a great start.
Benefits of studying with Proschool:
- You can attend any of the learning centres set up in all major cities in India.
- You can also opt for online sessions if that is more convenient for you.
- Proschool has an enormous library of learning resources that include practice papers, mock tests, an extensive pool of over 4,000 MCQ questions and over 90 essays.
- Students also receive recruitment-based training, as they learn how to give professional interviews and write resumes.
- Once certified, you can access and apply for multiple job openings on Proschool’s renewed placement program.
Conclusion
When you have to make a decision, it’s best to list the pros and cons. Our analysis of CMA US vs CMA India can help you decide your career objectives. Where would you like to work? What position appeals to you? What are your future goals? The answer to these questions will help you decide between the two management accounting courses.
FAQs
Is US CMA difficult to clear?
Due to the high standard of the US CMA certification, the exam can be difficult to pass. You must prove you have the knowledge and expertise to work as a CMA-certified professional. If you have a proper study plan or enrol with a reputed coaching institute like Proschool, you will be well prepared to take the exams.
Which is better CMA US or CA?
Both courses offer intensive training for future accountants, but they differ in job opportunities. The CA professional is better suited for working in Indian firms in areas, such as auditing, accounting and taxation.
The CMA US is ideal for management accounting and strategic financial management. You also get the opportunity to work abroad or with MNCs in India.
So while both programs have their strengths, the choice comes down to what kind of accountant you want to be.
Can I work abroad with a US CMA qualification?
Yes. The US CMA certification is valid in over 100 countries, including the USA, UK, Canada and India. It opens up several opportunities in some of the world’s financial companies and accounting firms and can give a significant boost to your career.
Can the Indian CMA work in the USA?
It is possible but the opportunities may be fewer than you would like. If you plan to work in the USA, a US CMA or ACCA certification may be better.
Does US CMA have value in India?
Yes, there are many job prospects if you are a US CMA holder in India. You are eligible to work in several industries while holding prominent positions within the company.
Dwij K
