What is the Eligibility criterion for a US CMA in India?

Author: Shinde Simandhar

The CMA certification acquired from leading countries like the USA will help professionals gain global exposure as well as international recognition. Are you aiming to achieve a specialized accreditation in Accountancy? This blog will provide you with the details of US CMA in India, its eligibility, career options, and much more!

Certified Management Accountant or CMA is the highest standard-level certified course required for managing accounting and financial professionals. The Institute of Management Accountants (IMA) awards the Certified Management Accountant certification after passing the CMA exam.

CMA – certified professionals are qualified to work in the financial, accounting, and business management industries. Professionals choose the US CMA Course to start a career as financial leaders that align business and finance strategies for the future of the business.

Career Options for CMA

While the US CPA designation focuses on job tasks, such as writing audit reports and preparing tax returns, accountants with the qualification of US CMA analyze budgets and help companies make informed strategic business decisions.

Therefore, Certified Management Accountants can fit into a wide range of positions, leading to varied CMA careers. So, what jobs can CMAs get? CMA professionals can have a wide variety of career paths related to operations and decision-making.

Simandhar Education has listed some of the most desired CMA Jobs in India include:

  • Financial Analyst

Financial Analysts analyze the information affecting investment programs of organizations. They explore the performance of stocks, and other investments, guide businesses and individuals to make financial decisions.

  • Financial Controller

The financial controller (FC) plays a crucial role within an accounting function of an organization. Instead of reporting to a chief financial officer (CFO), the financial controller ensures accurate accounting operations.

  • Cost Accountant

Cost accountants plan the budget, set standard costs, and suggest cost-saving opportunities for companies. This position plays a significant role in understanding where a company is spending its money and profitable operations.

  • Chief Financial Officer

The chief financial officer (CFO) is a senior executive officer who manages the organization’s financial operations. These operations include tracking cash flow and analyzing the financial statements and recommending corrective measures.

  • Financial Risk Manager

Financial risk managers determine the risks by analyzing financial markets to predict any changes or trends. It is also the responsibility of the financial risk manager to develop strategies to counteract the effects of potential risks.

In addition, CMAs can also have the opportunities to manage investments, supervise lower-level accountants, prepare financial statements, budget, finance decisions, and more.

You are still wondering why I should become a US CMA in India? Below are four distinct CMA benefits that can give you the answer and learn more about how getting CMA certification will advance your career.

  • Higher-income

The CMA certification elevates your earning potential. Based on an analysis, a certified CMA can earn 60% more than their non-certified CMAs.

  • Increased skills and abilities

As a US CMA expert, you can perform better tasks and take much many more responsibilities, all of which improve your career trajectory.

  • Greater Job security

With business and accounting knowledge, you can have a high-standing position in an organization for a very long time.

  • Heightened Respect

With the Certified Management Accountant qualification, you can excel in the business and financial fields and receive all the attention that comes with competence.

  • Global opportunities

US CMA is a global professional credential that allows work abroad and learn about international practices and business ethics.

Eligibility criteria – US CMA in India

To pursue this prestigious qualification, candidates need to fulfill specific prerequisites specified by the institution. Those who fail to meet the below requirements will not be admitted to the CMA course.

  • Hold active membership with IMA.
  • Fulfill the CMA educational and experience requirement
  • Pass the CMA exam
  • Candidates must abide by the IMA’s Ethical Professional Practice.

CMA – Education Requirement

  • Passed 10+2 in India
  • Bachelor’s Degree or an equivalent degree from a renowned institute in a relevant field.
  • Aspirants who are pursuing graduation are also eligible for US CMA certification.

CMA – Experience Requirement

  • Candidates should have a minimum work experience of two years in either management accounting or financial management. Working 20 hours per week can also meet the experience requirement.
  • Candidates should meet experience requirements and get verified within seven years of passing the CMA exam.

An experience in accounting or financial management can come in different forms. Therefore, CMA candidates need to look at the tasks they perform in their position include:

  • Preparing financial statements
  • Internal or external auditing
  • Budget preparation and reporting
  • Management of general ledger or balance sheets
  • Financial forecasting

CMA – Exam structure

To become a US CMA in India, candidates must pass the CMA exam that tests their accounting, financial planning, and business knowledge. The exam is available in two parts, and to gain CMA certification, candidates need to qualify for both these parts.

Part 1 of the CMA exam covers financial reporting, planning, performance, and analytics. Part 2 covers strategic financial planning and management. Candidates can take the parts of the CMA exam in any order, but they qualify for the next one if they clear the first part.

The CMA examination registration process is valid for one testing window, hence, CMA candidates have to register again if they want to reappear for the exam.

  • The CMA testing window opens in January/ February, May/ June, September/ October. Thus, candidates can book the slot of their choice and take the examination accordingly.
  • The CMA examination is computer-based, each of which will be of 4 hours with 100 MCQs and two 30-minute essays.

Conclusion:

The knowledge and skills gained through the CMA course can assist accounting professionals in their practical applications in finance and help them make wise financial decisions.

As certified management accountants are in high demand, the job market is also constantly rising. If you think earning the CMA credential will boost your career, enroll in a CMA course with Simandhar Education and get your dream job much quicker.

Want to know more about the Certified Management Accountant course? Get in touch with Simandhar Education, India’s Leading training provider for US CMA Course. For any queries, please mail us at info@simandhareducation.com or contact us at +91 7780273388.