CMA Articleship:Is it helpful to take a CMA (USA) course while doing articleship?

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CMA Articleship:Is it helpful to take a CMA (USA) course while doing articleship?

Any additional degree, certification, or experience in your portfolio (or Resume) is always beneficial for getting a better job. That is especially true for important job roles like that of an accountant. Any mistake by an accountant can cost the company thousands or even millions of dollars. Hence, employers want to reduce the risk and always hire certified finance professionals with specific degrees in hand. An individual having a prestigious qualification like the CMA USA can be a great assurance to employers, as only the best ones acquire such tough qualifications.

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To put it in simpler words, it can be quite beneficial to acquire CMA USA credentials while pursuing a CA or even CMA Articleship. The CMA USA is a well-recognized qualification in managerial accounting all around the world. The examinations are built to provide the student with all the knowledge required for becoming a CMA and getting a managerial position in a company. 

The international exposure you can get after the CMA USA certification is immense and worth the extra effort.

Many individuals start preparing for the CMA (USA) along with their long CA or Indian CMA Articleship. The Indian CMA Articleship duration is needed to be a minimum of 3 years. Similar is the case with CA, which also requires 3 years of Articleship. Three years is a long time, hence it is always recommended to use this time to improve your skills in accountancy while doing your Articleship. What can be better than to start the prestigious certifications like CMA (USA) while pursuing your Articleship program?

We at the NorthStar Academy have always tried to help the students to achieve the CMA USA certification with our highly relevant and organized CMA USA course. You can always contact us for any guidance regarding the CMA US examination.

Why is CMA USA being preferred alongside the Articleship?

Students and institutes alike prefer to do the CMA USA certification because of the following reasons: 

  • The CMA USA is an internationally recognized certification. Hence, you can easily get a job overseas after completing this certification.
  • CMA USA offers a very in-depth course for candidates having an interest in managerial and Cost Accounting.
  • It also allows the candidates to explore many job opportunities in the finance sector other than the accountant. These positions include Financial/Business Analyst, Auditing, Internal Control, Tax Management-Direct, and Indirect Tax, Systems Analyst & Systems Management, Fund Manager, Capital Market Analyst, Portfolio Analyst, and many more.
  • The CMA certification can help you in getting the job title of CFO – Chief financial officer in a company. Which is the peak position one can ask for in the finance sector?

What is the US CMA Articleship Duration 2022?

The candidates of the CMA USA do not have to go through any practical training or Articleship, but they are required to serve 2 years working in any relevant field of accountancy to get the much-needed practical expertise in the field. The candidates can consider these 2 work years as an articleship experience, in this way the US CMA articleship duration will become 2 years. However, an actual articleship experience will not be entertained by the IMA (Institute of Management accounting), the authority responsible for conducting the CMA USA certification exams. 

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The candidates have to find an actual job in accounting or any related field of finance and then have to work for at least 2 years to gain the much-needed work credits. The candidates can show these work credits to the IMA and by using these credits, they can claim the CMA USA certification.

What is the CMA Articleship eligibility and Exemption?

You might already know that the CMA India certification is split into three stages – the foundation examination, intermediate exams, and final examination. The only candidates that have passed the Intermediate exam are eligible to start their articleship under the name of CMA India. The candidates have to complete at least 6 months of Articleship before they can take the CMA final examination. In total, 3 years of Articleship duration is necessary to be completed for getting CMA certification.

There is no exemption for the Articleship for anyone. It is mandatory for every candidate to complete at least 3 years of Articleship to get the CMA certification.

Though the CMA USA certification does not count the Articleship (done under CA or CMA India) as actual work experience. Hence, the candidate of the US CMA still has to do two years of work (in accounting or any relevant sector) after passing the CMA examination to complete the CMA requirement of 2  years of mandatory work experience in the related field. 

After the candidates complete the CMA work requirement, they will be awarded the certification.

What is the minimum stipend for CMA Articleship?

In India, the minimum stipend for the CMA Articleship is non-existent. Sometimes, Articleship programs don’t pay anything as a stipend, other times a very little amount. One can expect a stipend of Rs 10,000 to Rs 15,0000 per month (maximum).

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If you have decided to do the CMA USA course in addition to pursuing an Articleship under a different certification (CA or CMA India). You need to prepare yourself in advance for the challenging journey of achieving the CMA USA certification. The CMA USA examination is already a tough job to do, but managing to do it while pursuing the Articleship will be a much more demanding task. Seek proper guidance and coaching from NorthStar Academy (NSA) that can make this journey easier for you to follow. The top mentors at NSA, including M Irfat Sir will provide the assistance at every step and aim to develop the necessary skills and expertise in students.

FAQ’s 

1.Is Articleship mandatory for CMA?

It is not mandatory to do articleship in the CMA USA, but it does require you to fulfill at least 2 years of working experience as an accounting professional.  The applicants can complete 2 years of work experience before, during, or after clearing the CMA US papers. The applicants normally start finding junior accounting jobs after they clear the 1st examination of the CMA US. 

The Articleship done under other different accounting certifications (including CA and CMA India) is not counted as work experience in the CMA USA.

However, for CMA India, a Articleship duration of at least 3 years is necessary to get the CMA India certification. If the candidates are unable to find any work or internship, they can join the CMA New Practical Training Scheme, too. The Articleship for the CA or work experience for the CMA USA will not be recognized as Articleship for CMA India.

2.Can a CMA do Articleship in the Big 4?

Yes, you can, but it is not that easy. You have to be exceptional to crack the interview in the Big 4 companies, even for an Articleship. Accountants working in the Big 4 companies have to constantly dabble with large amounts of money and have a high level of responsibility. Many times, these accountants need assistant accountants to help with their work, but due to the huge responsibility involved. They can’t take risks with just anyone. They need dedicated and passionate individuals to join their league. The individual doing the Articleship also gets a lot of exposure from the Big 4 companies, which will eventually help them grow their career and get a high-paying job faster than other individuals.

3.What is the CMA Articleship duration?

For the Indian CMA, the Articleship duration is 3 years. Out of which 6 months of the Articleship have to be completed before the CMA (India) final examination. The remaining practical training (or the Articleship) can be completed before, during, or after clearing all of the CMA (India) examinations. It is absolutely necessary to complete the 3 years of CMA practical training or the Articleship to get the CMA certification.

But for the US CMA, the candidate does not have to go through any kind of practical training or Articleship. But instead, the candidates have to get 2 years of work experience in any relevant industry to get the CMA certification.

4.Is coaching required to clear the CMA(US) exam?

CMA US exam is considered one of the toughest exams conducted in the field of management accountancy. Given the less than 40% pass rate for this examination, getting through the exam is not an easy task. Hence, it is recommended to take coaching for the CMA examination to make your CMA journey a tad easier.

Proper coaching and guidance can help you to clear any examination, not just the CMA examination. But IMA, the conducting authority of the CMA, has cleared that any coaching is not necessary for clearing the CMA (US) examination. But it is recommended to take one.

The coaching classes drastically increase your chances of passing the examination. The passing percentage of students who take the NSA’s coaching classes is 83%, which is quite high compared to the 40 average passing rates of the CMA exams.

5.What are the CMA Articleship eligibility criteria?

The CMA India certification is split into three stages – Foundation examination, Intermediate exams, and final examination. The candidates have to first register for the foundation exam, after they pass the foundation exam, they can register and take the Intermediate examination. The candidates are eligible to start the Articleship after they have registered for the CMA Intermediate examination.

The total Indian Articleship duration is 3 years, but the candidates have to complete at least 6 months of Articleship before they can register for the CMA final examination.

6.Why do the candidates have to go through Articleship for becoming a CMA?

In the CMA Articleship duration, the candidates can get all the practical experience they need in the field of accounting. They get to know the practical use of the theoretical knowledge they acquired in their CMA examination, whether it be accounts, taxation, audits, or every aspect of management accountancy.

Let’s imagine you read a few books on how to swim, but never went to a swimming pool or beach. Are there any chances that you know how to swim at all?
Somewhat similar is the case with CMA (India), the Articleship or the practical training is necessary to train the candidate in each and every aspect of accountancy. Hence, at least 3 years of CMA Articleship duration is necessary to get the CMA India credentials.

In the US CMA too, at least 2 years of work experience is required for every candidate to get the CMA certification.

7.Are there any CMA Articleship exemptions?

At the time of writing this article, there is absolutely no exemption given from the CMA Articleship. Each and every candidate has to complete a 3 years long CMA Articleship duration to get the CMA India certification.
Though, you can do the Articleship after you have passed the CMA final examinations. Only the 6 months of the 3 years of Articleship are needed to be completed before the CMA final exams.

8.What is the minimum stipend for CMA Articleship in India?

There is no minimum stipend for the CMA Articleship in India. Let me break the hard truth to you, in India the salary for students doing the Articleship is very low or nothing. The Articleship in India, at most, gets you a stipend of Rs 10,000 to Rs 15,0000 per month (that’s at max). Many candidates who are doing their Articleship don’t get any remuneration for their work in an Articleship.

9.what certification or courses can be done together with the Articleship in 2022?

Below is the list of certifications that can be done together with the CA or CMA Articleship duration.

1. DISA (Diploma in Information System Audit)
2. CISA (Certified Information System Auditor)
3. CIA (Certified Internal Auditor)
4. US CMA (Cost and Management Accountant in India)
5. CFA (Chartered Financial Analyst)
6. ACCA (Association of Chartered Certified Accountants)
7. FRM(Financial Risk Management)

Conclusion

There would be a little hardship to manage the CMA (US) preparation during the CMA Articleship duration. But imagine the long-term gains that can be achieved after taking this hardship – more confidence, field expertise, and job security. 3 to 4 years down the line, you will be able to have a flourishing career in the field of accountancy. With CMA USA, you can also kick start your career virtually anywhere around the globe.

You can seek proper guidance from experts for the CMA USA certification from NorthStar Academy. We at the NorthStar Academy have always tried to help the students to achieve the CMA USA certification with our top-tier study material. We provide Gleim’s oldest and highly preferred study material and best mentors to convey their expertise to students. 

You can enjoy the financial benefit from our bundle discounts by enrolling in the CMA USA or other courses.

You can always contact us for any guidance regarding the CMA US examination or other course-related queries.

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