Today, everyone is competing for top employment positions and high-paying salaries. In today’s world, only a Bachelor’s or Master’s Degree isn’t enough, so applicants pursue other professional courses. These certifications substantially boost your career, allowing you to secure amazing work prospects. CMA Course in Tripura is one such globally recognized qualification for accounting professionals.
Companies always look for US CMA-certified professionals with solid technical backgrounds and managerial abilities. As a result, it is highly regarded and sought after by recruiters at top multinational companies, even in India. The rising demand for insurance policies and services may further expand the chances for US CMAs in India. In this blog, we shall discuss the details of Tripura’s Certification Exam and the US CMA course. We will discuss the course details, salary, and top employment options available to CMAs in India.
The most well-known qualification in management and financial accounting is CMA (Certified Management Accountant). This certification will not only serve as a gateway to a flourishing career but will also provide you with a distinct competitive advantage on a worldwide platform. The Institute of Management Accountants (IMA), which has its headquarters in the US, is responsible for governing, overseeing, and granting the course. A CMA qualification will place you at the core of the company, collaborating with the management team on crucial strategic choices based on your experience in accounting, finance, and business. This credential is highly recognized all around the world, and you may find work virtually anywhere in the world after finishing the course. The average income for a CMA USA-certified professional is also higher than that of their non-certified colleagues. As a result of all of this, the demand for CMA coaching in Tripura has grown.
There are separate fee structures for the CMA course and the CMA exam. Let us begin by learning about the official exam costs for the CMA USA certification that IMA will charge. The three components of the CMA USA fees structure in India are membership fees for the IMA, entry fees for the CMA IMA, and exam fees for the CMA.
IMA Membership Fee – To be eligible to apply for the CMA USA certification, you must first become a member of the IMA. However, anybody may join the IMA by paying a membership fee. After the first payment, your membership will be valid for the next three years, after which you may be required to pay an annual membership fee to maintain your certification.
CMA IMA Entrance Fee – It is essential to enroll in the US CMA course in Tripura once you have joined the IMA. The CMA applicants must pay this one-time fee before beginning their
US CMA course in Tripura. You have three years from the time of registration to pass the CMA exam. One will have to go through the registration process again if they are unable to pass both exams in the subsequent three years.
CMA Examination Fee – Candidates must pay an examination fee for CMA Course in Tripura for each exam which is 345 USD for students and 460 USD for working professionals.
The official fee structure for the CMA USA Exam is listed in the table below:
|Particulars||For Students ($)||For Professionals ($)|
|Fees for membership of the IMA||135 (3 Years)||260 (1 Year)|
|CMA entrance fees||210||280|
|Part 1 Exam||345||460|
|Part 2 Exam||345||460|
The CMA program allows you to work at your own speed. CMA Course in Tripura can be completed in as little as nine months or over the course of three years. The CMA USA certification program is a time-efficient and cost-effective investment for busy professionals. Candidates must meet specific CMA eligibility requirements in order to obtain this high-level certificate.
Candidates who have errors on their application forms will not be permitted to take the CMA USA exam.
The CMA examination is entirely computerized. There are a large number of Prometric testing facilities worldwide, and candidates can take the exam at one of the centers or online via remote proctoring. Candidates can take the test six months out of the year.
The CMA USA exam is broken into two parts (Parts 1 and 2), and applicants are not required to take them in any specific order. Each section of the CMA Exam lasts four hours and comprises 100 MCQs worth 75% of the weightage and two essay topics for 25%.
The following subjects are covered in the two portions of the CMA Examination:
Part I: Financial Planning, Performance, and Analytics
Part II: Strategic Financial Management
|Part 1 – Financial Management, Analytics, and Performance||Weightage|
|Technology and Analysis||15%|
|External Financial Reporting||15%|
|Planning, Budgeting, and Forecasting||20%|
|Part 2 – Strategic Financial Management||Weightage|
|Analysis of Financial Statements||20%|
Most international companies in India and many other countries around the world are willing to employ CMAs for roles in corporate finance. Let us take you through the career options open to CMA professionals.
Finance Analyst – Financial analysts monitor financial statements, generate reports, evaluate data, and make recommendations to increase company performance. The CMA certification provides Financial Analysts with the confidence and expertise they need to complete the whole cycle of their job role.
Finance Manager – Financial Risk Managers foresee future changes that might affect the company’s finances and establish strategic plans based on their predictions after gaining the essential analytical and decision-making skills gained from necessary work experience and CMA certification.
Financial Controller – As one of the executives of the finance department, Financial Controllers report directly to Chief Financial Officers. Because Financial Controllers are needed to make strategic suggestions and oversee other accounting professionals, a CMA certificate is highly recommended for this position.
Cost Accountant – Cost Accountants will gain the abilities required to do successful cost accounting and convey strategic plans to high-level executives for execution throughout the CMA certification process.
Chief Financial Officer – Financial reporting, financial forecasting, and corporate investments are all responsibilities of the CFO. This role requires leadership, communication, and analytical abilities, all of which are covered by the CMA certification process.
Now you can understand that numerous work chances will be at your doorstep once you have successfully completed your CMA course in Tripura.
It’s important to understand the standard compensation you can expect to receive if you want to work as a CMA after finishing CMA Course in Tripura. The need for CMAs is rising as a result of MNC expansion into India and the migration of offshore businesses. CMAs earn more than their counterparts at all levels of management, particularly in senior management roles, where they might earn up to 58 percent more in total compensation.
A financial manager makes an average of Rs 10 lakh per year. A fresher in India who has no prior experience can earn between Rs. 4 lakh to Rs. 5 lakh annually. However, if you have a specific skill-set or knowledge and a strong educational foundation, you may get up to Rs. 7 lakh per year as a fresher. The salary will increase along with the role as you gain knowledge and experience.
The average annual salary of a Finance Manager is Rs 10.3 lakh, while the Chief Financial Officer (CFO) is paid Rs 30 lakh per year because of their vast experience. CMAs in Asia get an average salary of $28,710, while candidates with no CMA credentials get a salary of $20,000. In Asia, compensation has been quite consistent.
Anyone who has fully prepared for the CMA USA exam has a chance of passing it. To pass the exam on your first try, you must put 100% effort into each of the 12 CMA USA subjects. Applicants need to follow the below tips religiously to pass the exam on the very first attempt:
If you wish to work in management accounting, the US CMA is the perfect course for you. Many US-based firms are also hiring for US CMA positions. The course covers all aspects of financial planning, budgeting, cost management, and so on. Hence, if you have finished a CMA Course in Tripura, you will be awarded a lot of job opportunities.
The need for financial expertise and CMA professionals will increase as India is becoming the hub of global business, and more US firms are setting up their business here. In this situation, enrolling in the US CMA course in Tripura is the only logical line of action. Don’t wait any longer if you want to earn your CMA USA certification. Regardless of whether you work in the financial, accounting, or business sectors, this certification might help you boost your credibility and lead to higher-paying job possibilities.
So, if you’re looking to enroll in the best CMA USA coaching in Tripura, NorthStar Academy (NSA) is your best option. NSA delivers highly relevant study resources as well as a complete roadmap for your success, including a study regimen that covers the whole comprehensive CMA USA curriculum. With the maximum success rate and competent faculty like Mr. M. Irfat, NSA has established itself as the premier US CMA institute in Tripura. Over 15,000 students have benefited from the NSA’s professional CMA USA certification course. Free trial lessons are also provided to applicants so they may eventually decide whether to enroll or not.
So give up your search and get in touch with us right now to speak with an expert. +918147470707