CMA USA VS ACCA- What Are The Major Differences?

Certified Management Accounting (CMA)

• US CMA is deemed to be the gold standard in management accounting and it is formulated to meld accounting strategies with business acumen. It is extraordinary from other courses as it focuses on management accounting as well as financial management.�

CMA USA Eligibility

• To pursue the CMA USA program and to gain certification, two exams are needed to be qualified.�
• The CMA USA is a computer-based examination and provides 4 hours duration with 100 MCQ questions as well as two 30 minute essays.

Association OF Chartered Certified Accountants(ACCA)

• This profession wraps all regions of business, from financial statements, management accounting, business taxation & law to audit and also business ethics.�
• NorthStar delivers the best ACCA course and world-class education with a short budget, which is rare. And the students who completed this course are recognized as one of the best accountants.

• Global Presence- if we correlate through International recognition, ACCA is recognized in the UK and Europe wide. Whereas CMA USA is majorly accepted in India, UAE, Canada and USA.
• Salary difference- there is a slight difference in salary for CMA USA & ACCA qualified. As we mentioned above, A CMA USA qualified earns Rs.400,000 as a fresher. Whereas, an ACCA-qualified fresher earns up to Rs.600,000/-. When you have both CMA USA + ACCA UK you tend to earn a very good position and can draw a salary of about Rs.700,000 - Rs.15,00,000 per annum.
• Pass percentages- the pass percentage for CMA USA is easier as it is near 40-50%. Whereas for ACCA it�s 45-50%. a few subjects might even go lower.
• Fees- Overall investment for CMA USA would be Rs.150,000 whereas overall investment for ACCA would be Rs.350,000+

CMA USA vs ACCA UK	CMA USA�	ACCA UK�
Number of Exams	2	13
Duration	6-9 months	3-4 years
Exam type	100 MCQ + 2 Essay	50% MCQ + 50% descriptive
Exam Window	Jan- Feb, May-June, Sept - Oct	Mar, June, Sept & Dec
Salary (Fresher) INR	400,000 onwards	600,000 onwards�
Total Exam Fee	$600 - $900�	$1900 - $2000
Average training cost	Less than 100,000	More than 250,000
Designations	Finance Analyst, Controller	Accounts and Auditing Manager
Countries Accepted	India, Middle East, Canada & USA	United Kingdom & Europe

Detailed Comparative Table (CMA USA vs ACCA)

SECTION	ACCA	CMA USA
Organized by	ACCA is organized by the Global Body of Association of Chartered Certified Accountants.	CMA is organized by ICMA (Institute of Certified Management Accountants). ICMA is affiliated by IMA (Institute of Management Accountants)
Mode/ duration of exams	The first 3 are for 2 hours duration and the rest for 3 hours duration. 50% being MCQ and 50% being descriptive.	Two exams, each of 4 hours duration with 100 MCQs and 30-minute essay questions.
Eligibility	1. Applied after 12th passed in the commerce field. �2. 12th must be passed with 2 subjects by 65% and other of them should be 50%.3. Later 3 years of work experience is required.	1. Currently 12th or passed out 12th is the eligibility.2. Later on Bachelors and 2 years of work experience is required.
Number of levels and exams	ACCA requires clearing 3 levels. And a total of 13 exams.	CMA USA requires clearing only 1 level which contains 2 exams.
Subjects	The subjects of ACCA are-Knowledge Level: F1. Accountant in Business F2. Management Accounting F3. Financial Accounting Skills Level: F4.. Corporate and Business Law F5. Performance Management F6.. Taxation F7. Financial Reporting F8. Audit and Assurance F9. Financial Management Essentials Level: P1.Strategic Business Reporting (SBR) P2.Strategic Business Leader (SBL) Options:P3. Advanced Financial Management (AFM)P4. Advanced Audit and Assurance (AAA)P5. Advanced Taxation (ATX)P6.Advanced Performance Management (APM)	CMA USA has one level that consists of two parts- Part one : 1. External Financial Reporting Decision 2. Planning, Budgeting, and Forecasting 3. Performance Management 4. Cost Management 5. Internal Controls Part two : 1. Financial Statement Analysis 2. Corporate Finance 3. Decision Analysis 4. Risk Management 5. Investment Decisions 6. Professional Ethics
Duration of the course	ACCA can be finished from 3-3.5 years.	CMA can be finished from 6 months to 9 months.�

Why Choose CMA USA?

• CMA USA directs students not only from developing countries as well as students from developed countries.�
• It has aspirants from all over the world, who choose to outshine their careers in Finance field.
• With an incredible history of placements, CMA USA is readied with skills and proficiency. The qualified person will be considered an expert and feel dignified.�
• CMA USA certification extends compensation and high earnings with international exposure.

Why Choose ACCA?

• ACCA renders a global degree within a voyage of 3 years. Furthermore, the fee for this course is satisfactory for students to pursue within a limited budget.�
• ACCA has an incredible international dignity and is a much susceptible course in the finance domain.

FAQs

1.�Which is better, ACCA or CMA USA?

Ans.� If you�re planning to settle in UK or Europe then ACCA would be good. If you�re planning to settle in India, the Middle East, Canada or USA then CMA USA is the best choice.

2.�Can I do CMA USA after ACCA?

Ans. Yes, it�s possible. But it�s always advisable to take up CMA USA get few papers exemptions

3.�Can I do ACCA after CMA USA? Is there any exemptions for ACCA?

Ans. Yes it�s possible to take up ACCA after CMA USA. Generally, students get 4-7 papers exemptions. Kindly check with ACCA Exemption calculator link for the same.

4.�Is CMA USA Tough?

Ans: The CMA USA tests your intellectual limits and is tough. Hard work can lead to success. With the NorthStar Academy CMA USA comprehensive course, you can pass the US CMA exam in one go!

5.�Who earns more CMA USA or ACCA?

Ans: A CMA USA qualified earns Rs.400,000 as a fresher. Whereas, an ACCA fresher qualified earns upto Rs.600,000/-. When you�ve both you tend to earn a very good position and can draw a salary of about Rs.700,000 - Rs.15,00,000.

6.�Which has more scope CMA USA or ACCA?

Ans: The ACCA is an internationally recognized course and having both ACCA and CMA USA� would be an added advantage.

7.�What should I do after Bcom CMA USA or ACCA?

Ans. If you�re looking to clear a course in 6-9 months then going ahead with CMA USA would be a better choice.

8.�Can I do both CMA USA and ACCA?

Ans. Yes, it�s always added advantage to pursue both professional courses. However, there are at least 4-5 papers overlapping in ACCA with CMA USA. Ex: Financial Reporting, Financial Management and Performance Management.

Final Conclusion