CMACourse
In the present day world, Indian commerce graduates look for pursuing some
qualification which carries initselfanacefortheaspirantsandpreparesthemfortaking
up a career with the global corporates in India as well as readies them for a job
assignmentoutsideIndia.
It may also be noted that many of the young commerce graduates have already had
many yearsofregulareducationandwouldliketotakeupanyotherqualificationquickly
instead of many more years in education. A question which bothers many commerce
graduates isthat is thereanywaytheycanstandapartfromothercommercegraduates
without taking up a course formanymore years tocome? Can therebe course which
canbecompleted insixmonthorlesserdurationandyetgiveanunquestionablecareer
edgeoverotherstudents?
The answer to the above questionis theUSCMA (Certified ManagementAccountant)
course.
USCMA(CertifiedManagementAccountant)
US CMA Certified Management Accountant is one profession which is in great
demand over the world. CMA is designation is given to people who pass the CMA
examination and meet additional education and experience requirements for
membership of Institute of Management Accountants in the United States ofAmerica.
CMA, in the commons parlance is the US equivalent of the Indian CWA/CMA
qualification.
AnIndiancommercegraduateiseligibletotaketheCMAexam.Thecourseisofjustsix
months duration. The exam consists of two papers: Financial Reporting, Planning,
Performanceand Controlaswell as Financial DecisionMaking.The examinationcould
beconductedanywhereinIndiaorabroaddependingonthechoiceofthecandidate.
Students can clear the two CMA exam papers along with their graduation Once
qualified in their examination, they can get their certificate within seven years after
producingevidenceoftheirgraduationandtwoyearsofworkexperience.
The good news for Indianstudents isthat theInstituteof Cost andWorks Accountants
of India (ICWAI) has entered into a Memorandum of Understanding (MoU) with the
Institute of Management Accountants (IMA), USA to enable recognition of the
professional qualification of the respective Institutes. A member of ICWAI can get
enrolledasamemberofIMAUSAandviceversa.
Indian US CMA candidates can take the CMAUS exams from outside India (say,
Kathmandu, Singapore, Dubai, etc) which will enable them to get the CMAIndia
designation without going through the 20papers, 3levels exam conducted byICWAI.
Though this is not highly recommended, it is certainlyan availableoption.Further,the
exception for statutorywork inIndia does not have much practicalimplication because
evenCAs(CharteredAccountants)arenowallowedtoundertakethesestatutorywork
CMAs carry a valuable role inthe organization inpricingdecisions,cost management,
capitaldecisions,investmentdecisions,financialanalysisandinternalcontrols.
Theaverage salary of a USCMA inIndia ranges between56lakhs.Whiletheprimary
requirement of CMAs is by US companies, they also have openings in Indian
companiesbecauseoftheirexpertiseandmanagementaccountingskills.
