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

The CMA exam is a key step for professionals seeking a designation in accounting and finance, offering a pathway to global recognition. To achieve the CMA designation, candidates must meet specific eligibility requirements and pass the rigorous CMA exam. Obtaining the CMA designation provides global recognition in the fields of accounting and finance, enhancing career prospects. Eligibility for the CMA exam typically requires a background in accounting and finance, ensuring that candidates are well-prepared for the challenges ahead. Securing the CMA designation can significantly boost your professional standing, offering both national and global recognition in the accounting and finance industry.

Key Takeaways

• US CMA Certification

• CMA USA Course Details

• US CMA Scope

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

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. 

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.

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.

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. 

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.