US CMA Course

We often face the dilemma when it comes to select a career path particularly after obtaining a B.Com degree. Among the traditional options, one is the CA course and other is the MBA(Finance). Apart from these, the new addition is the US CMA(Certified Management Accountant) – a globally accepted professional course.

For benefit of our students, here, we intend to compare the US CMA course with the MBA in Indian backdrop as follows:

Acceptance

The US CMA is a globally recognized professional certification conducted by IMA, an international body. On the other hand, MBA is an academic degree conferred by individual regional institutes where brand value of the respective institutes is reflected in the hiring process. Hence, in terms of acceptability, US CMA has much wider scope in the national as well as international job market in comparison to MBA from India.

Affordability

If we consider the cost of both the courses, one can easily see the huge gap in the expenditure. In general, a MBA costs about INR 8-50 lakhs depending on the enrollment to a general or premier business schools. To meet up this expenditure, students very often has to for an education loan.

In contrast, to complete the US CMA course certification, one has to spend a maximum of INR 1.5 lakhs only. Even some IMA approved service providers like Uplift Pro has flexible payment options to help the students who want to pursue US CMA course. Moreover, being a US CMA, one gets 5-10 times more exposure in the global job market as well as MNCs in India as compared to Indian MBAs.

Eligibility

Both MBA and US CMA require a bachelor’s degree at the entry level. However, a student pursuing B.Com can still pursue and sit for US CMA exam at the same time, while the same student is able to enroll for MBA only after completion of his/ her B.Com degree with 50% marks.
Hence, US CMA has more flexible and time saving  eligibility option than admission to MBA in India.

Entry

In India, pursuing MBA from a premier institute is not that easy. One has to obtain higher rank through CAT(Common Admission Test). This also need dedicated preparation, coaching help for the admission test and hefty tuition fees for the preparation. In comparison, US CMA doesn’t have any entrance test for enrollment. One can enter directly with required academic qualification and acquire required work experience to get the certificate. Thus, it saves both time and money.

Salary

In India,  the salary of a MBA directly depends on the brand/name of the institute from where the student passes out. Particularly from those B schools having regular campus interviews with the top companies. Thus, passing out from a less rated college won’t allow much value addition and the salary remain at much lower side like INR 3 lakhs per year on average depending on the company and location. On the other hand, being a global certification, US CMA has great advantage in all financial sectors required by the reputed MNCs for management positions. The range of salary of a US CMA varies from 4-80 lakhs per year for entry level and senior positions respectively.

Summary

To sum up, it can be stated that, US CMA has clear cut edge over MBA in India, particularly, after B.Com, due to following reasons:
a) Admission
b) Affordability/ economy
c) Duration
d) Salary & Job opportunities

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

Uplift Pro is one of the top training institutes for the US CPA, US CMA, 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 back to young ambitious students and professionals to reach their desired career destinations in an organized way.

Some of our exclusive features include

A. Authorized partner of IMA US CMA course in India

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

C. 1:1 personal support from our 30 plus years of experienced CMA certified faculties

D. Affordable US CMA course fees with special discount in your IMA fees. 

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

F. Comprehensive coverage of US CMA course details including authorized GLEIM CMA study materials , class mock session,  IMA registration and job assistance.

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

US CMA course or MBA, which of the two is better? Are you confused on choosing the right course? In this article, we help you to provide insights on US CMA course and MBA.

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.

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 you are looking for .They also have an excellent absorption rate all over the world. Currently, CMA has 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.

Career path of US CMA vs. MBA

US CMA is an international qualification and is one of the best course for students seeking jobs outside India. US CMAs can occupy positions such as Research Analyst, Cost Accountant, Financial analyst, Finance manager or Financial C-Suite roles. They often become experts in field of accounting and finance departments of an organization.

On the other hand, MBAs works in different business functions of an organisation including strategy, finance planning, and management consultant. MBA degree is well suited to a professional who looks to enter in to broader areas of business functions.

Eligibility for US CMA course vs. MBA

Both US CMA and MBA require a bachelor’s degree as basic eligibility. However, Students who are pursuing their bachelors are eligible to take the 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.

Course details – US CMA course vs. MBA

Regarding US CMA course details , the course has just 2 parts which can be cleared in 7 to 9 months’ time. One 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.

These days most of the US CMA course institutes provide live online classes which adds flexibility to this program.  Uplift Pro is one such premier institute in India offering live interactive online classes. They have a pass rate of 85% as compared to worldwide pass-percentage for CMA US is 45%.

In contrast, a full time MBA course has two years of duration. This may extend if you plan to complete the course through distance or part-time learning. Thus earning a US CMA certification has a competitive advantage on completing the course faster than a MBA degree.

US CMA course fee vs. MBA course fee

Course fee is an important criteria largely due to ever-rising tuition rates. In general, a MBA from a premium B-School, it costs INR 20 lakhs to INR 50 lakhs. Even a Tie2- 2 institution in India charges a minimum of 5 lakhs to 8 lakhs.

In case of US CMA course fee, one needs to spend a maximum of INR 1.5 lakh (inclusive all) to be a US CMA. But the interesting thing is that one gets 5 to 10 times more exposure in the international job market and MNCs within India being a US CMA compared to an MBA Finance. Thus US CMA course fees is affordable.

Salary after US CMA course vs. MBA

CMA US is in great demand in all sectors. CMAs are also being recruited by MNCs like Accenture, Amazon, Deloitte and so on for the managerial positions.

The below image depicts the US CMA Salary in India.

The salary structure of a MBA professional depends on the brand name of the business schools from where you attain your MBA degree. It is found that there is a high pay gap between students who complete degree from premier institute like IIM, ISB, and IIFT than compared to a tier 2 college. The truth lies in the fact that many top companies recruit students from only these top business schools.

Typically, an average Indian passing out from a tier 2 college gets an annual package staying from INR 3 lakh, which may vary depending on location and companies.

IMA’s 2021 Global salary survey on CMA

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. 

In the study, It was found that the difference in total compensation between CMAs and non-CMAs (including MBA) worldwide is nearly US$29,000; a strong reason why a US CMA course is a career changing qualification.

Figure 1:  Median salary and Total compensation by region, CMA VS. NON-CMA

Summary

Based on the above parameters, we can clearly say that US CMA is better than the MBA for the B.COM graduates in the following manner:

• Duration of course
• Salary and Job opportunities
• Flexibility of the course

Choose the best 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 US CMA course in India

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

C. 1:1 personal support from our 30 plus years of experienced CMA certified faculties. We have a pass rate of 80% in US CMA course exams

D. Affordable US CMA course fees with special discount in your IMA fees. 

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

F. Comprehensive coverage of US CMA course details including authorized GLEIM CMA study materials , class mock session,  IMA registration and job assistance.

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

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

What is US CMA course ?

US Certified Management Accountant (CMA) or US CMA course is a professional certification credential in the management accounting and financial management fields. The certification signifies that the person possesses knowledge in the areas of financial planning, analysis, control, decision support, and professional ethics.

The CMA is a US based, globally recognized certification offered by the Institute of Management Accountants (IMA US). IMA US has a legacy of more than 100 years and as of date the membership of US CMA certified candidates is more than 1,40,000 across 150+ countries.

Bachelor degree on any subject. Students who are pursuing their bachelors are eligible to take the US CMA exams. Two years of professional experience in accounting or finance. For Freshers the experience requirement may be completed within 7 years of passing the examination.

A single level of examination which is divided into two parts. Candidates can attempt any part in any order as per their convenience. Each exam part is four hours in length . US CMA exam will have 100 multiple choice questions, followed by two 30-minute essay questions. Exam is conducted at Prometric testing. The exam is conducted in the following windows

a. January – February

b. May – June

c. September – October

The most vital part of the US CMA scholastic program for an aspirant is to know the US CMA syllabus first. A detailed idea about the US CMA syllabus is of utmost important to take informed decisions prior initiation of the journey towards the goal of achieving the coveted US CMA credential. A thorough idea of the CMA subjects for exam will also help to build confidence-a necessary step to crack the CMA US exam.

US CMA Syllabus

Let’s have an in depth look on the course details of the current US CMA syllabus:

The US CMA course involve a 2 part online exam based on the following sections:

1. US CMA Part 1

US CMA syllabus in this section is based on Financial Planning, Performance and Controls which contain following sub sections.

A. External Financial Reporting Decisions(EFRD)

·        Financial statements

·        Balance sheet

·        Income statement

·        Statement of changes in equity

·        Statement of cash flows

·        Integrated reporting

·        Recognition, measurement, valuation, and disclosure

·        Asset valuation

·        Valuation of liabilities

·        Equity transactions

·        Revenue recognition

·        Income measurement

·        Divergence between U.S. GAAP and IFRS

B. Planning, Budgeting, and Forecasting (PBF)

This is a relatively wider section focusing on budgeting and covers following chapters

·        Strategic planning models and analytic techniques with Long-term mission and goals

·        Budgeting concepts

·        Operations and performance goals

·        Resource allocation

·        Forecasting techniques

·        Regression and Learning curve analysis

·        Budgeting methodologies 

·        Annual business plans (master budgets)

·        Project, Activity-based and Zero-based budgeting

·        Annual profit plan and supporting schedules

·        Top-level planning and analysis

·        Pro forma income

·        Financial statement projections

·        Cash flow projections

C. Performance Management(PM)

This is a performance management section covering following topics.

·        Cost and variance measures

·        Comparison of actual to planned results

·        Use of flexible budgets to analyze performance

·        Management by exception

·        Use of standard cost systems

·        Analysis of variation from standard cost expectations

·        Responsibility centers and reporting segments  

·        Transfer pricing

·        Reporting of organizational segments

·        Performance measures

·        Product profitability analysis

·        Business unit profitability analysis

·        Customer profitability analysis

·        Return on investment

·        Residual income

·        Investment base issues

·        Key performance indicators (KPIs)

·        Balanced score card

D. Cost Management(CM)

This section involves calculations and costing methodologies having following subsections

·        Measurement concepts

·        Cost behavior and cost objects

·        Actual and normal costs

·        Standard costs

·        Absorption (full) costing

·        Variable (direct) costing

·        Joint and by-product costing

·        Costing systems

·        Job order costing

·        Process and activity-based costing

·        Life-cycle and verhead costs

·        Fixed and variable overhead expenses

·        Plant-wide vs. departmental overhead

·        Determination of allocation base

·        Allocation of service department costs

·        Supply chain management

·        Lean resource management techniques

·        Enterprise resource planning (ERP)

·        Theory of Constraints

·        Capacity management and analysis

·        Business process improvement

·        Value chain analysis and Value-added concepts

·        Process analysis, redesign, and standardization

·        Activity-based management

·        Continuous improvement concepts

·        Best practice analysis

·        Cost of quality analysis

·        Efficient accounting processes

E. Internal Controls (IC)

This is the application based section which includes the following:

·        Governance, risk, and compliance

·        Internal control structure and management philosophy

·        Internal control policies for safeguarding and assurance

·        Internal control risk

·        Corporate governance

·        External audit requirements

·        System controls and security measures

·        General accounting system controls

·        Application and transaction controls

·        Network controls

·        Backup controls

·        Business continuity planning

F. Technology and Analytics (TA)

This section has been included to cope with the industry demand which is more inclining on artificial intelligence and robotics. It contain following areas.

·        Information systems

·        Accounting information systems

·        Enterprise resource planning systems

·        Enterprise performance management systems

·        Data governance

·        Data policies and procedures

·        Life cycle of data

·        Controls against security breaches

·        Technology-enabled finance transformation

·        System development life cycle

·        Process automation

·        Innovative applications

·        Data analytics

·        Business intelligence

·        Data mining

·        Analytic tools and Data visualization

2. US CMA Part 2

US CMA syllabus in this section includes Strategic Financial Management Following are the subsections.

A. Financial Statement Analysis(FSA)

This involves financial accounting with more emphasis on analytics and comparisons having following components

·        Basic financial statement analysis

·        Common size financial statements

·        Common base year financial statements

·        Financial ratios

·        Liquidity

·        Leverage

·        Activity

·        Market, Profitability and analysis

·        Income measurement analysis

·        Revenue analysis

·        Cost of sales and expense analysis

·        Variation analysis

·        Special issues

·        Impact of foreign operations

·        Effects of changing prices and inflation

·        Impact of changes in accounting treatment

·        Value and Income – Accounting and economic concepts

·        Earnings quality

B. Decision Analysis(DA)

This part involve the merge of management accounting with the decision making processes. It has following topics.

·        Cost/volume/profit analysis

·        Breakeven analysis

·        Profit performance and alternative operating levels

·        Analysis of multiple products

·        Marginal analysis

·        Opportunity costs, Sunk costs

·        Marginal costs and marginal revenue

·        Special orders and pricing

·        Sell or process further

·        Adding or dropping a segment

·        Capacity considerations

·        Pricing and Pricing methodologies

·        Target costing

·        Elasticity of demand

·        Product life-cycle considerations

·        Market structure considerations

C. Corporate Finance(CF)

This section having following areas which deals with the short term and long term financial management.

·        Risk and return

·        Calculating return

·        Types of risk Relationship between risk and return

·        Long-term financial management

·        Term structure of interest rates

·        Types of financial instruments

·        Cost of capital

·        Valuation of financial instruments

·        Raising capital

·        Financial markets and regulation

·        Market efficiency

·        Financial institutions

·        Initial and secondary public offerings

·        Dividend policy and share repurchases

·        Lease financing

·        Working capital management

·        Working capital terminology

·        Cash management

·        Marketable securities management

·        Accounts receivable management

·        Inventory management

·        Types of short-term credit

·        Short-term credit management

·        Corporate restructuring

·        Mergers and acquisitions

·        International finance

·        Fixed, flexible, and floating exchange rates

·        Managing transaction exposure

·        Financing international trade

D. Risk Management(RM)

This involve assessment, analysis and management of all kinds of risk that a management accountant has to handle for the company. It has following components.

·        Enterprise Risk

·        Types of risk

·        Risk identification and assessment

·        Risk mitigation strategies Managing risk

E. Investment Decisions(ED)

This section trains how to settle important decisions regarding speculations on various available options. It has following components

·        Capital budgeting process

·        Stages of capital budgeting

·        Incremental cash flows

·        Income tax considerations

·        Evaluating uncertainty

·        Capital investment analysis methods

·        Net present value

·        Internal rate of return

·        Payback

·        Comparison of investment analysis methods

F. Professional Ethics(PE)

This impart ethical practice in management accounting processes having following key areas.

·        Business ethics

·        Moral philosophies and values

·        Ethical decision making

·        Ethical considerations for finance professionals

·        IMA’s Statement of Ethical Professional Practice

·        Fraud triangle

·        Evaluation and resolution of ethical issues

·        Ethical considerations for the organization

·        Organizational factors and ethical culture

·        IMA’s Statement, “Values and Ethics: From Inception to Practice”

·        Ethical leadership

·        Legal compliance

·        Responsibility for ethical conduct

·        Sustainability and social responsibility.

Weightage given each part of US CMA exam syllabus

Part 1: Financial Planning, Performance and Analytics

Part 1: Financial Planning, Performance and Analytics	Weightage
Technology and Analysis	15%
Internal Controls	15%
Cost Management	15%
Performance Management	20%
Planning, Budgeting and Forecasting	20%
External Financial Reporting Decisions	15%

Part 2: Strategic Financial Management

Part 2: Strategic Financial Management	Weightage
Financial Statement Analysis	20%
Corporate Finance	20%
Decision Analysis	25%
Risk Management	10%
Investment Decisions	10%
Professional Ethics	15%

Top US CMA Exam tips – the preparation strategy [ 2021 Update] :- The most important part is the study/preparation in a guided manner having a proper schedule. Eventually, you will be adapted to the syllabus and format of the US CMA exam. But the ultimate aim is to clear the exam in shorter duration and obviously at first attempt.…continue reading

Summary

So, by now, you are quite well versed about the US CMA syllabus and the US CMA subjects.

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

Uplift Pro is one of the top training institutes for the US CPA, US CMA, 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 back to young ambitious students and professionals to reach their desired career destinations in an organized way.

Some of our exclusive features include

A. Authorized partner of IMA US CMA course in India

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

C. The dedicated faculty team for uplift live online classes are CMA US qualified with incredible marks and have more than 25 years working experience in corporate world. This help the student to learn and simulate the real life corporate working conditions which can not be attained through a CMA pass out faculty only.

D. 1:1 personal support from our 30 plus years of experienced CMA certified faculties. Also, provides full admin support through the dedicated Uplift WhatsApp study group. We have a pass rate of 80% in US CMA course exams.

E. Pass percentage of students ” at first attempt” is about 80% in a duration of 6-9 months in comparison to near about 40-45% pass rate in a global perspective.

F. The small batch size of online classes provide effective interaction with the faculty which help  personalized attention towards achieving the target of  80% “pass at first attempt”

G. Affordable US CMA course fees with special discount in your IMA fees. 

H. “Till you pass” guarantee assuring that you may attend our live online classes at no extra cost until you pass. It means once you become an uplift student, you can attend unlimited live online classes till you pass at no extra cost or reregistration fees.

I. Comprehensive coverage of US CMA course details including authorized GLEIM CMA study materials , class mock session,  IMA registration and job assistance.

J. 120 hours of classes (Live Online Interactive Sessions) by veteran CMA faculties from Monday to Saturday from 9 pm to 10:30 pm

K. Recordings of live online classes available

L. In class mock session conducted by the faculty to make student aware of the exam pattern

M. Doubt clearing session before the exam window

N. Training on soft skills and interview techniques

O. Additional notes prepared by the faculty members on important topics

P. Administration Support towards IMA registration

Q. Job assistance

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

The persistent ongoing education in accord with the continually transposing field of accounting, can be a beneficial venture to thrive successfully in the present -day workplaces. Due to this, uplifting and upgrading one’s own accounting acumen through an advanced professional certification is a key element to be considered by an ambitious budding accountant.

Nowadays, many accountants are keen to opt dual advanced certifications in the financial and accounting arena. Pursuing one or more advanced certifications can assist one by asserting security and aegis during future uncertain economic turmoil, if any. This is largely because of having a larger professional skill set, thus, providing multifaceted experience.

Henceforth, having a dual professional accounting certification- particularly, obtaining both US CPA and US CMA certification—can widen the knowledge, concepts and skills of accounting in a higher order of magnitude. This ultimately help to enhance the marketability of such dual degree holders than their counterparts providing many other benefits too.

A. The Dual Certifications and Careers

Upon obtaining the basic academic degree in accounting and/or some work experience in the accounting sector, one can think of pursuing US Certified Public Accountant (US CPA) and/or US CMA (US Certified Management Accountant) certification.

Both US CMA course and CPA US course have immense value addition potential to elevate the career towards an unseen horizon. In this context, it has to be noted that both these credentials follow unique career paths and are focused on different core areas of accounting which are as follows :

A.1 US CMA Course

The US CMA certification is more attentively focused in the area of management and cost accounting, in comparison to the US CPA. US CMA course certification aspirant is more likely to look into analysis, risk management and performance management. The US CMA can work in various capacities ranging from financial analyst to CFO. They often necessitate formulating major financial decisions for an organization.

A.2 CPA US Course

In comparison to CMA, the US CPA career path provides broader accounting training, as the US CPA Exam tests on skills touching many different areas of accounting, from auditing to taxation.

CPAs can work in public/private sectors or can indulge into independent practices. Some CPA US course career paths include working as an auditor or tax preparer.

CPA US Course Certification: How to be a Certified Public Accountant? :- The question might be raised why an accounting professional will seek CPA US course certification? To answer , we have to consider appropriate reasons like increased job opportunities, higher salary and finally…..continue reading….

B. The US CPA- US CMA overlapping

Based on the basic accounting concepts and the skills achieved at ground zero, continuing accounting education has a major benefit . It enhance and develop the skills already acquired and applied in the workplace.

Both US CPA and US CMA course enhances the depth of accounting subject matter knowledge. However, there are some important distinctions between the two.

More precisely, after passing the US CPA Exam, there remains the licensing procedures. The US CMA, on the other hand, requires membership in the IMA (Institute of Management Accountants).

The intent of CPA involves more accounting-specific training, a CMA deals more with financial accounting as well as asset and performance management. Apart from the differences, there are several parameters where both the certifications overlap and go in a conjoint fashion.

C. Academic requirements

Despite slight variations, a bachelor’s degree is usually required to be eligible to write the US CPA Exam. On the contrary, one can write and pass the US CMA Exam during the course of completing the bachelor’s or master’s degree and have yet to graduate.

It is noted that one is required to have completed a bachelor’s degree to become US CPA and fully certified US CMA. Many aspirants opt to start studying for the exams while they are still pursuing the graduation.

D. Professional experience

Professional accounting experience is required for completion of both the certification processes. For instance, two continuous years of full-time work or four years of part-time work is required to become a certified US CMA.

Becoming a fully licensed CPA requires varying professional experience as mentioned by respective state jurisdictions, typically asking candidates to complete a certain amount of work that is overseen by another licensed CPA. Advantageously, the required work experience used to meet IS CPA eligibility criteria is also applicable to fulfil CMA requirements-a boon for saving time if one wants to pursue both CPA and CMA simultaneously.

E. US CPA and US CMA exams

Both the US CMA and CPA certifications involve separate online exams. In case, one decides to go for dual certification simultaneously, there’s some overlapping content in the exams in areas like financial reporting, internal controls etc.

The US CMA Exam consists of two parts that must be completed within three years of each other:

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

2. Part 2 :- Strategic Financial Management

On the other hand, US CPA Exam has four parts to be over a span of 18 months.

The CPA exam syllabus includes

1. Auditing and Attestation (AUD)

2. Financial Accounting and Reporting (FAR)

3. Regulation (REG)

4. Business Environment and Concepts (BEC)

Topics on external financial reporting decisions on the CMA Exam are similar to the financial accounting basics covered in the FAR section of CPA. It is noteworthy that the CMA Exam tests these topics in more depth than CPA. Studying for one of these exams can help to apprehend the content for the other exam in a much better way.

F. Role of Continuing Professional Education(CPE)

Upon clearing the dual exam, next comes the question of sustaining the status of CPA and CMA. For this, one is required to accomplish annual continuing professional education, or CPE credits from classes, seminars, webinars or any other appropriate formats.

The purpose of CPE is to keep the acuity of an accountant intense, up to date and at par with the changing industry demands. Several CPE courses are available which include topics that are applicable to both CMA and CPA to meet up the requirements of both CMA/CPA credentials.

G. Cost

Both the CPA and CMA credentials require down payments, which include application and exam fees, as well as exam preparation fees. In addition, the CMA also requires IMA membership fees but offers discounts to students and other applicable groups.

Plan for US CMA course in 2022- Jobs & Salary |Eligibility| Course fees |Syllabus| Duration | :- Earning the US CMA can give you the career boost as they have an excellent rate of absorption all over the world. Currently, US CMA has marked its presence in over 100 countries including the United States (US)…...continue reading…

The US CPA and US CMA both require monetary investment where CPA is little bit costlier than CMA, but the cost incurred is considered to be well worth in terms of returns, hence the cost here can be considered as investment rather.

H. Importance of Dual certifications

Taking cue from the concept that spending money on pursuing both CMA and CPA is an investment rather than expenditure in an accountant’s career, having both a CPA and US CMA may benefit and boost career hankerings in various ways.

Being dual certification holders, the employers may consider such a candidate as more qualified and appropriate for higher-level senior positions. This is because a top personnel at firms often pursue both credentials.

If you’re hoping for upliftment on the career ladder, having double certification can set you apart from other candidates who possess single certification but are applying for the same role, whether internally at your company or for a new role. Thus, having a dual certification i.e., CMA and CPA can help you stand apart from the rest in its own capacity.

Obtaining dual designations indicates that the holder has commitment as well as strong motivation to the accounting profession and is fervent to acquire new updated knowledge and skill at work. The dual certification imparts more expertise than a traditional accounting role requires, and having both CPA and CMA can give one that extra authority to be considered for the coveted roles such as CEOs or CFOs etc.

Summary

As narrated above, US CMA and US CPA are advanced professional accounting certifications which are globally recognized and are considered as highly esteemed dragging reputation from colleagues and peers in the accounting fraternity.

Combination of US CMA and CPA is recognized as expertise of everything of entry level accounting with global acknowledgement of specialized expertise on hardcore auditing to strategic management accounting which open the door to international opportunities.

Professional network will be keen to focus on such dual certification holders who by virtue of their acclaimed qualification obtained the required versatility to apply the upgraded skill and knowledge to implement decisions in any area of accounting at par with the globalization and the changing pattern of economy.

Conclusion

In conclusion, it can be stated that having dual credentials by earning US CMA and CPA simultaneously is rated as an extreme level of proficiency in the global accounting fraternity that provides versatility, greater earning potential, help attaining top level of corporate hierarchy, and so on. After going through this article, if you wanna kickstart your journey in either of this accounting career separately or simultaneously, Uplift Professionals is ready to help you to achieve your dream.

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 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 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 US CMA and CPA US course 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

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

Why one should go for the US CMA out of other related courses in finance and accounts? .The most pertinent question comes to every aspirant be a student or a professional in finance sector. Despite efforts, expenditure and time , does it really worth in essence? What value is imparted to one’s CV upon passing US CMA exam and becoming a US CMA finally. Let’s try to shed some light in this scenario with a realistic attitude.

Indulging in to the motivations to become a US CMA, it’s important to understand the benefits being enjoyed by the existing US CMA holders. Looking into this aspect will help you to take informed  decision for yourself to boost your own career path and how to achieve that through your own potential.

Below are some of the salient features suggestive of the benefits of passing US CMA exam in 2022.

1. The CMA US as the Gold Standard in Management Accounting

In older accounting days, people were unaware about the US CMA course. Currently, US CMA is being considered as a very coveted designation. In fact, it is considered the “gold standard”, meaning it is one of the top credential in management accounting that draws immense respect. Being a rapidly growing global certification, the US CMA holders belong to the top rung of the hierarchy ladder- a great motivation for the aspirants.

The US CMA is state-of-the-art advanced professional certification customized to evaluate the critical accounting and financial management skills of an individual. In particular, this is meaningfully designed to be relevant for success in a competitive business atmosphere on a global perspective. In essence, this means one who holds a certification will obviously, be a prime candidate for job positions in India and abroad.

2. Acceptability as a Global Management Accounting Certification

While CIMA is one of the largest contender in this category, it is more or less restricted in the UK and to a lesser extent Europe and Commonwealth countries. On the other hand, the US CMA is growing across the globe more rapidly in comparison to CIMA.

Although, the country wise number of US CMA is still smaller, but the certification is now gaining popularity as the desired management accounting certification not only in the US but also in the fastest developing regions, namely China, Middle East and India.

The information extracted from the August 2014 edition of Strategic Finance, almost half of the new CMA candidates came from the Middle East (UAE, Egypt, Saudi Arabia, and Jordan), and almost 1/4 from the Asia Pacific (China and India).

What is US CMA Course? Frequently asked questions on US CMA |FY 2022 :- To understand the detailed overview on the US CMA course and other FAQ’s continue reading

3. US CMAs Earn More

In reality, pursuing the US CMA course, learning new things with great motivation is fine to finally pass the course but obtaining the certification ultimately will lose its shine until unless it doesn’t fetch a better-salaried job.

According to a comprehensive study by the IMA, CMA certification holders earn 67% more than their non-certified counterparts. So what is the meaning of “more”? Is it satisfying? For this, one has to stay updated on the available statistics since the global mean and median base CMA certification salary may wade and wane from year to year.

However, the figures remain high and attractive to future Certified Management Accountants, indicating it’s still a lucrative reason to consider getting a US CMA credential.

Furthermore, as per the IMA reports, the global mean base salary of 2018 was $74,344, while the global median base salary was $66,000. Ironically enough, this will supposed to rise in forthcoming years -an encouraging scenario for upcoming US CMA aspirants.

4. Imparts Practical Skill

With the advent of globalization and elevated economic growth, the industry needs are changing in the arena of accounts and finance. With respect to that, various industry journals have indicated that 80% of accountants who used to do conventional and repetitive jobs end up in non-public accounting.

Here lies the importance of US CMA because the appropriate management accounting knowledge and skills are in fact more useful for these professionals and the skills learned from becoming a CMA US are often touted as the best in the industry for the day-to-day tasks one is having as an accountant.

US CMA, thus appear the right choice for the hiring authorities since they incorporate the real time skill and knowledge beyond the conventional accountants to be the part of strategic management decision making processes in financial issues. Hence, US CMAs being considered a future-proof secured job designation with higher employable potentialities.

US CMA Course details – US CMA Certification from IMA USA: Syllabus, Eligibility, Duration, Fees, Books and Coaching :- What is US CMA Course ? To understand the detailed overview on the US CMA course and US CMA certification from IMA…continue reading

5. The Smoothness of the Course and Exam

To make the process simpler and accessible, the IMA (the CMA exam administrator) keeps things clear, simple, and organized for applicants, particularly for the international candidates with the online US CMA exam offered through prometric centers in hundreds of locations worldwide.

To be eligible for the US CMA course exam, candidates are required to have a bachelor’s degree and to be a CMA US,  the candidate has to pass a rigorous exam, and secure 2 continuous years of management accounting experience to get certified.

However, the IMA makes the process of becoming a CMA as smooth as possible. This is a huge benefit to many candidates and is one leading reason why some people choose CMA over other accounting certifications.

6. Exams

The exam has 2 parts, both of which include 100 MCQs and 2 essay questions to be answered within 4 hours.

6.1 Part 1 – Financial Planning, Performance and Analytics

6.2 Part 2 – Strategic Financial Management

The exam is considered not too tough not too easy type which means with due dedication and proper study support, successful clearance of this 2 part exam at first attempt is quite achievable.

7. Scope of US CMA course in India

US CMAs are important assets in all types of organizations. Completion of the course in India opens multiple ways to improve your financial skills & management qualities. They analyze operating results, review performance, audit operations, and resolve issues that enhance the strategic objectives of the organization.

Moreover, they appreciate the business approach for managing customer value, formulating strategies, and valuing equity. They are value creators, not just merely accountants who adhere to compliance to the profession.

Corporates hire US CMA as they are considered experts in value creation and business strategy. Over the years, the prominence of the this course has been rising fabulously. It is because of the economic growth in India and large foreign business markets. One of the greatest advantages of having certification is it will open many prospects for Indian candidates.

7.1 The key drivers for US CMA course in India include

A. Growth potential in the manufacturing sector and government efforts like “Make in India” to promote Indian manufacturer’s.  In this context, US CMA is huge demand in India

B. As US CMA’s are considered as experts in business strategy and cost controlling, Management consulting firms like EY, KPMG hire US CMA as management consultants for restructuring services for industries.

C. Strengthening of banking especially in rural parts of India is a key driver for the need of CMA experts.

D. Growing demand for insurance products is an opportunity for US CMAs in India.

7.2 Job positions in India

Since they are in demand in various sectors for many skills, it provides immense job opportunities in India. Below are some of the key job position once can get after completion of course.

·        Research Analyst

·        Cost Accountant

·        Legal Advisor

·        Finance Manager

·        Financial Analyst

·        Management Consultant

·        Cost Auditor

8. US CMA Salary in India

In India, 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.

8.1 Insights from IMA Global salary survey

The latest Global Salary Survey 2021, from IMA (Institute of Management Accountants) revealed that holding the US CMA certification helps to add value beyond the basic compensation. The survey invitations were sent to 7,949 IMA members in the Middle East/Africa/India (MEAI) region.

A. 90% of survey respondents with certification said that US CMA gives them more confidence to perform their job at a high level. The median salary of a US CMA professional is above 76% higher than non-CMAs.

Median compensation of US CMA salary by various job roles

B. Difference in total compensation between CMAs and non-CMAs worldwide is nearly USD 23,000; a strong reason why this course is a career changing qualification.

C. 90% agree that the US CMA course helps them to work in all areas of the business, and more than 80% of respondents agree that the US CMA certification creates better career opportunities

D. Nearly 95% would recommend the certification to a friend.

8.2 Non- CMA vs.US CMA salary by region

A. Median base US CMA salary/CMA for 2020 for all participants in MEAI were USD 25,000 as compared to median based salary of USD 22,500 in year 2019.

B. Median total compensation for year 2020 stands at USD 27,000 as compared to the median total compensation of USD 25,000 during previous year.

C. Further, a majority of respondents in the middle management category, indicated that they receive a higher percentage of their total compensation largely due to bonuses based on individual or company performance.

D. The survey results indicated that respondents holding the CMA or US CMA earn a 76% higher median US CMA salary and 80% higher median total compensation compared to those who do not hold the certification.

Holding a US CMA certification also makes a person more disciplined, career oriented, smart, and motivated helping to move faster to higher management roles in the industry.

Median salary & Total compensation

Summary

By now, as seen in the last decade, about 99% of the MNCs and big companies started functioning in India and Middle East are basically of US incorporated,  either directly or as a subsidiary which raise funds or listed in US stock exchanges. All these companies are required to comply with the Securities Exchange Commission (SEC).

US CMA is in great demand in all sectors. CMAs are also being recruited by MNCs like Accenture, Amazon, and Deloitte. They occupy managerial positions like financial controllers, Budget Analysts, Cost Auditors, Chief financial controller and many other high level positions.

Among the Middle East countries, UAE, Saudi Arabia and Egypt have the most number of IMA members representing 35%, 25% and 13% respectively. The job profiles include Financial Controller, Zakat and Taxes Supervisor, Senior Accountant, Budgeting Section Head, Group Internal Auditor, Financial Analyst etc.

The major recruiters among many include companies like  Khobar, Harvest, CMACGM, Honeywell, Al Futtaim Group, Vodafone, Oriental Insurance etc. Notably, in the Gulf, Dubai becomes the top job provider for US CMAs.

Some of the Dubai based companies which hire US CMAs are Ceva Logistics, TMF Group, Transmed, Kitapi, Huhtamaki Group, KPMG, Phantom Associates, Milliman, Amazon, Sffeco Global at entry, middle and senior levels of accounting and financial management.

It has been noted that the highest number of employment for US CMAs  are from the Finance /Insurance/Real Estate sectors followed by the Manufacturing Industry.

The course is pursued by students who are keen in learning budgeting and management accounting. The professionals with US CMA qualifications are preferred over other candidates, by multinational companies and established conglomerates.

In short, US CMAs are important assets in all types of organizations. Completion of the course in India is possible and opens multiple ways to improve your financial skills & management qualities.

They analyze operating results, review performance, audit operations, and resolve issues that enhance the strategic objectives of the organization.US CMAs appreciate the business approach for managing customer value, formulating strategies, and valuing equity. CMAs are value creators, not just merely accountants who adhere to compliance to the profession.

Corporates hire US CMA as they are considered experts in value creation and business strategy. Over the years, the prominence of the course has been rising fabulously. It is because of the economic growth in India and large foreign business markets. One of the greatest advantages of having US CMA certification is it will open many prospects for Indian candidates.

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

Uplift Pro is one of the top training institutes for the US CPA, US CMA, 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 back to young ambitious students and professionals to reach their desired career destinations in an organized way.

Some of our exclusive features include

A. Authorized partner of IMA US CMA course in India

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

C. The dedicated faculty team for uplift live online classes are CMA US qualified with incredible marks and have more than 25 years working experience in corporate world. This help the student to learn and simulate the real life corporate working conditions which can not be attained through a CMA pass out faculty only.

D. 1:1 personal support from our 30 plus years of experienced CMA certified faculties. Also, provides full admin support through the dedicated Uplift WhatsApp study group. We have a pass rate of 80% in US CMA course exams.

E. Pass percentage of students ” at first attempt” is about 80% in a duration of 6-9 months in comparison to near about 40-45% pass rate in a global perspective.

F. The small batch size of online classes provide effective interaction with the faculty which help  personalized attention towards achieving the target of  80% “pass at first attempt”

G. Affordable US CMA course fees with special discount in your IMA fees. 

H. “Till you pass” guarantee assuring that you may attend our live online classes at no extra cost until you pass. It means once you become an uplift student, you can attend unlimited live online classes till you pass at no extra cost or reregistration fees.

I. Comprehensive coverage of US CMA course details including authorized GLEIM CMA study materials , class mock session,  IMA registration and job assistance.

J. 120 hours of classes (Live Online Interactive Sessions) by veteran CMA faculties from Monday to Saturday from 9 pm to 10:30 pm

K. Recordings of live online classes available

L. In class mock session conducted by the faculty to make student aware of the exam pattern

M. Doubt clearing session before the exam window

N. Training on soft skills and interview techniques

O. Additional notes prepared by the faculty members on important topics

P. Administration Support towards IMA registration

Q. Job assistance

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