General

Almost all finance and accounting students face challenges in choosing their career path. A question arises whether I need to pursue a certification course like US CMA course or US CPA course? Which among them is better? What are the key differences between a US CMA course and US CPA course? Can (or should) I get both? Let’s understand some of the major differences between US CPA and US CMA certifications.

CMA stands for Certified Management Accountant and is offered by the Institute of Certified Management Accountants (IMA). Earning the US CMA can give you the career boost as they have an excellent rate of absorption all over the world. Currently, CMA has marked its presence in over 100 countries including the United States (US). The US CMA course is pursued by students who are keen in learning budgeting and management accounting.

On the other hand, CPA stands for Certified Public Accountant and is offered by American Institute of Certified Public Accountants (AICPA). The students have to pass the US CPA exam in India as well as meet the state’s licensing requirements to get the US CPA license. Generally, students who are interested auditing, management accounting, accounts handling, taxation takes this certification course.

When it comes to different career options for a commerce graduate, the most common careers after B.Com includes US CMA, MBA, M.Com, CA to name a few. Among these, US CMA is one such impressive international course in field of management and accounting. Earning the US CMA can give you the career boost as they have an excellent rate of absorption in all over the world. Currently, CMA has marked its presence in over 100 countries including the United States (US).

The major difference between US CMA qualification and a MBA degree is that the US CMA is a professional certification while the MBA is an academic degree. There are some key differences between these that you should know before choosing either path.

The most common differences between US CMA course and US CPA course are explained below.

Eligibility details – US CMA vs. US CPA

When it comes to course eligibility, students must have a bachelor’s degree as basic eligibility. However, Students who are pursuing their bachelors are eligible to take the US CMA exams. Another, key requirement of US CMA course is that students have to meet the CMA work experience requirements. These include –

1. Two years of professional experience in accounting or finance

2. For Fresher’s the experience requirement may be completed within 7 years of passing the examination.

The students pursuing the US CPA course must should have a Bachelor degree in Commerce and Masters with minimum 120 credit points. Further, the students should complete 150 hours of the CPA course semester.

Course details – US CMA course vs. US CPA course

The US CMA course has just 2 parts which can be cleared in 7 to 9 months’ time. On key advantage is that you can complete the course without disturbing your current commitments. This is highly beneficial for working professionals who wishes to up skill and accelerate their career paths.  It is seen that students who are finishing undergraduate degree take the CMA Exam and then complete the certification process once you have qualified the work experience criteria.

The two parts of US CMA exam are –

A. Part 1: Financial Planning, Performance, and Analytics

B. Part 2: Strategic Financial Management

In case of US CPA, the course has 4 parts and takes nearly 9-12 months to complete the course with continuous exam window now due to pandemic. The four sections of a US CPA exam include the following.

A. Auditing and Attestation (AUD)

B. Business Environment and Concepts (BEC)

C. Financial Accounting and Reporting (FAR)

D. Regulation (REG)

Duration and exams

To earn your CPA, Candidates appearing for exam is required to score of 75 or more on each section to pass, and each section must be passed within an 18-month window, which begins as soon as the candidate passes the first exam. CPA exam scoring is treated with a high level of importance, due diligence, and attention to accuracy.

On the other hand, a US CMA course candidate gets 3 years for clearing both parts of the US CMA exam and the time starts from the day of the registration.

As per the latest analysis from Uplift Pro, the pass rate of US CMA worldwide to clear both Parts I and Part II is 45% while, the average pass percentage for US CPA exam is nearly 50.

That being said, never get confused on pass percentage. Research has shown that students who gets good training and guidance have high pass rates. Uplift Pro is one such premier institute in India offering live interactive online classes. They have a pass rate of 85% in both US CPA exams and US CMA exams.

Job opportunities

In India a fresh US CPA starts with a minimum monthly salary of 50,000 INR in a Big4 or MNC. The salary of a CPA increases at a higher rate than his non-certified peers. A CFO in India earns within INR 8 Lakhs to 50 Lakhs per month. In Middle East countries a CPA at an entry-level with less than a year experience can expect to earn an average annual salary of AED 85,000 (including perks and other benefits).

In case of US CMA course, a fresh candidate in India can get a starting salary of INR 4-8 lakhs per year. This can go up to nearly INR 80 Lakhs once you become a CFO of a company. 

The latest Global Salary Survey 2021, from IMA (Institute of Management Accountants) revealed that a median salary of a CMA professional is above 58% higher than non-CMAs and MBA. The study was based on a sample population of 3,085 respondents from 79 countries across the globe.  It was found that the difference in total compensation between CMAs and non-CMAs (including MBA) worldwide is nearly USD 29,000; a strong reason why a US CMA course is a career changing qualification.

US CPA vs. US CMA Course fees

Another key difference in choosing the course lies in the course fees. The US CMA exam has an entrance fee and a registration fee for each exam part. As of May 2021, US CMA certification cost is approximately USD 1,000, which includes all the fees. This doesn’t include the cost of a review course for studying.

The US CPA exam in India fee is generally around USD 1,200 for all four sections. However, that may slightly vary based on number of sections you appear for the exam and also varies state by state.

On an average the US CPA certification cost comes at around USD1, 500, considering the exam fees, application fees, and licensing fee.  Again, this does not include the cost of a review course for studying.

US CPA vs. US CMA – Comparative Table

Section	US CPA	US CMA
Organizing body	American Institute of Certified Public Accountants (AICPA)	Institutes of Management Accountants (IMA)
Duration of Course	18 months	3 years or 36 months
Exam pattern	4 – Part Exam	2 – Part Exam
Pass Rate	50%	45%
Exam fees	USD 1,500	USD 1,000
Exam Dates	Continuous Testing (as of 1st Jul 2020)	Jan- February May- June September- October
Starting Salary in INR lakhs	6	4-8

Choose the best US CPA and US CMA institute in India, Africa, and Middle East – Uplift Pro

Uplift Pro is one of the top training institutes for the US CMA, US CPA US CIA courses in India, Africa, and Middle East. Uplift Pro is also an Indian partner of GLEIM, US and an IMA US authorized CMA US study center. Our team consists of seasoned professionals and entrepreneurs from IIEST, IITs, London Business School, and ULCA who have decided to provide a strong backup to young ambitious students and professionals to reach their desired career destinations in an organized way.

Some of the exclusive features include –

A. Authorized partner of IMA and Gleim in India

B. High pass rate of 85 %

C. Live online classes ensuring that the regular office working hours is least impacted

D. 1:1 personal support from our 30 plus years of experienced CMA and CPA certified faculties

E. Affordable course fees

F. “Till you pass” guarantee assuring that you may attend our live online classes at no extra cost until you pass

G. 100 % placement assistance for jobs

For more details please write us here: info@upliftprofessionals.in

Request for Live Demo class / contact at +91-8787088850 to book your seats now.

In the era of super competitive job scenario in financial accounting sector, one should always venture for upgradation of the respective area of expertise. While having an academic degree is the basic requirement to apply for a job, an additional professional credential like US CMA, US CPA and US CIA is a core demand to fetch a handsome job. A professional accounting course enable a job seeker to pin point his/her strength and weaknesses. Let’s have a glimpse at the benefits of professional accounting courses like US CMA, US CPA course and US CIA course .

A. Keeping updated

A professional accounting course provide exposure to unique and fresh ideas as well as create awareness on the area of interest. Moreover, continuous challenges and solutions are generated through real time learning.

B. Quality

In this competitive market, employers want to hire people who possess distinct qualities than others for a value addition to the business. To different from others, professional accounting courses offer advanced concepts for better tactical applications giving a competitive edge over others.

C. Contribution

By inculcating continuous knowledge, professional accounting certificate holders are able to contribute more to the organization than their non professional counterparts.

D. Creativity

Acquiring new knowledge and perception through a professional accounting course,  one can elevate the level of creativity through diverse approaches to sharpen it further

E. Professional outlook

A professional accounting course equips one to adopt the right way to attract and engage the client. Upon clearing such courses, one can be able to help to meet client’s demands more efficiently in a professional manner which help the trust building process.

Conclusion

There are lots of professional accounting courses like US CMA, US CPA course, US CIA course etc. are available to improve your management, planning and execution skill to a higher level. Potential employers are eyeing on these skills. So, if you like to get a handsome job in finance/ accounting arena, what are you waiting for?

Contact Uplift Pro for guidance/ assistance for professional accounting courses at: www.upliftprofessionals.in

About Uplift Pro

Uplift Pro is one of the top training institutes for the US CMA, US CPA course, US CIA course in India, Africa, and Middle East. Uplift Pro is also an Indian partner of GLEIM, US and an IMA US authorized CMA US study center. Our team consists of seasoned professionals and entrepreneurs from IIEST, IITs, London Business School, and ULCA who have decided to provide a strong backup to young ambitious students and professionals to reach their desired career destinations in an organized way.

Some of our exclusive features include.

a. Live online classes ensuring that the regular office working hours is least impacted

b. 1:1 personal support from our 30 plus years of experienced accounting certified faculties

c. “Till you pass” guarantee assuring that you may attend our live online classes at no extra cost until you pass

d. Access to premium books and question banks like GLEM  test bank which has more than 1,000 questions including MCQs

e. Placement assistance

Request for Live Demo class / contact at +91-8787088850 to book your seats now.

Networking as we know, involve people as the only asset for thought and informations. Upon building of personal, social and white collar contacts, effective networking is a shock absorbing pillion to ride your business.

The simple principle of fostering relationship by amalgamation with clients, partners and potential prospects that we are familiar with has underwent turmoil in this pandemic situation. Being experiencing isolation, the same networking demand more amplification and attention day by day.

Whether we rely on phonetic, text, sending e mails or conducting virtual conferences/ meetings has gained momentum than it was in pre-pandemic scenario.

So, let us have a glance about how can we nourish our network through building existing and new relationships in this turbulent time.

1) Constructing a direct and adjacent network: Here, you can set a close network of allied professional people both as as a formal ( a conference) or informal(dance party after the conference) way.This should be done upon mutual business/work interests.

2) Be Proactive: Make your contacts/clients/partners/customers realise that you really think and care about them by expressing simple friendly gestures irrespective of their responses.

3) Break the formula: Don’t be too formal or rigid in your interactions. Outreaching in a casual proactive manner can give more dividends even in post pandemic time. Some simple light touches by saying hello, welcome or sharing articles of common interest can create positive outcomes in the networking.

4) Use the tools: With comfortable respite, use tools like linked in but don’t use the auto-texting feature rather use your own words to touch the soft corners for effective trust building to nurture the network. Virtual assembly platforms like zoom, webex, meet, team can be utilized in optimum ways.

5) Push on with attentiveness: Since we have variable responders in a stressful chaotic situation, it is unlikely to get positive response from all the contacts. Hence, it is imperative to extend empathy along the network to relieve stress and to implant the feelings that every one works for themselves as well as for others too.

At the outset, in the pandemic and post pandemic era, one has to kept in mind that this is the time to come out of the cocoon, think out of the box of ready made formulas. It is the time to apply your own attitude, confidence and inclinations. Alongside, one can apply the above tips to build and nurture one’s networking domain for better business.

The intrateam competition is a two edged sword having two facets. In one hand, it can induce individual motivation to unravel level based performances. On the contrary, it can trigger strife and dissent among the team members. Particularly, the later can disrupt the dynamicity of the team through self interest.

Let us discuss the collective ways by which a leader can motivate the team members to boost the overall productivity surpassing the negative circumstances.

1) Encouraging collective importance: Every member should be concerned with the positive outcome of the team rather than individual contributions for every action based performances. In this regard, it has to be kept in mind, that whatever benefit is about to come should be bestowed as a whole on the basis of mutual understanding.

2)Attainment of personal target: Being a leader, based on the strength weakness analysis, you should assign tasks to the team members so that they can flourish both in personal and professional arenas in an amicable work environment. Identification of right skill in the concerned person is a key issue for encouragement towards a healthy competition.

3)Giving importance to everyone: In any organisation, there are coexistence of outstanding, mediocre and low performers. A competition should not create mental disparity among ordinary performers towards the higher skilled one. Hence, it is wiser to encourage the underperformers too for gaining their support for the performers in terms of mutual benefit.

4)Delivering productive feedback: A feedback can be both positive and negative. From an employer’s standpoint, while giving feedback is a basic responsibility, a negative feedback can breach the self esteem of an employee, a positive feedback can also appear damaging if given in wrong undeserved manner. Henceforth, it is obvious to maintain an equilibrium in feedback system. One of the approach is to drop-ship negative feedbacks in a positive package as a constructive criticism.

5) Rewards and recognition: Felicitation of team members in every possible situation can elevate their confidence level, they would be much happier and will be more akin to take further challenges. Any token of appreciation in the form of bonus, incentives, internal certification, greetings can trigger the “feel good hormone” dopamine in the hypothalamas of the brain that has a positive impact on the performance level.

6) Self competition: Generating competition against inner self is a crucial factor for self improvement which throws new challenges to outperform and raise the bar within. This has positive outcome towards productivity through desirable healthy competitions. 

So knowing your people and preventing their work related boredom has immense value to increase the overall productivity and create a win-win situation for all. A true leader does that.

Have you ever encountered these situations in your working group? Do you want to increase your productivity through healthy competitions? 

Try these tips upto any extent possible.

Uplift the professional in you.

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Here are other helpful blogs from Uplift:

Put A Bridle On Your Career Rut In The Uplift Way

How To Stay Productive At The Time Of Pandemic

Too many potholes on the life path? Got stuck in the career rut? We understand. Monotonous work pattern and boring daily schedules lead to exhaustion and disturbs the coordination of your mind and body. It’s high time to prevent the burn out and get relief from the boredom, else it may create adverse impact on your professional and personal health. Moreover, it will be an hindrance in the journey of fulfilling your achievable dreams. 

It’s not always recommended to leave jobs to get out of a career rut, specially during this pandemic. Let’s discuss some easier tools to break the embargo. 

1. Upgrade Yourself: Think about up gradation of yourself through a professionally. This is the most important tool to obtain higher skills which so far you could not pursue, may be due to lack of initiatives, not being aware of it or perhaps you were happy with the status quo. Since you have nothing to loose by gathering some extra skills, get committed to grab a professional qualification related to your work.

This can put you one big step forward to either get a new job, a promotion or a salary hike. You can also look for up gradation of skill in any other area(s) which may not directly related to your professional domain but your likings/ hobbies, your childhood dreams. Take it for granted, this will definitely help you to overcome the boredom of your professional life. So widening your skill with documentation/certification in preferred area will definitely expand your career towards a new horizon.

2. Unravel your inner world: This can be achieved by meeting new people who are like minded, building healthy relationships, contacts, databases with some time and efforts towards your academic/professional repute.

3. Keeping the financial status in order: This we all know is so much important for a smooth maintenance of personal life. A good financial planning will help you to invest your hard earned money to take the right steps for expanding your career path.

4. Reshaping the Schedule: This can be done either by readjusting your work timing if possible. Otherwise you can try to reshape or redecorate your work station a little bit weekly or fortnightly. You can also put some indoor plants. People say it helps to boost motivation.

5. Import professional outlook to your online activities: Rejuvenate your social media accounts with upgraded skill descriptions, your experiences because if you are looking for a new job, your online status will be counted by the potential employers. So revamp yourself in the virtual world. If possible, you can try some freelance activities that suits you.

So guys, don’t get stuck to the embarrassing career ruts. Warm up, motivate yourself, use the tools to get out of the trench. That’s what we believe at Uplift Professionals. Make an informed plan, get focussed and act accordingly. 

Uplift PRO is happy to help with its expertise in career counseling.  

Author: Rathin Mukherjee