CMA USA vs ACCA UK : Which course is a better choice in 2022

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CMA USA vs ACCA UK : Which course is a better choice in 2022

CMA USA VS ACCA- What Are The Major Differences?

NorthStar Academy is an exclusive institution for Commerce and Finance, with massive experience in helping the aspirants to get a prosperous career in their field of preference – Finance and Commerce. 

Headquartered in Bangalore, NorthStar Academy extends proper training services and guidance to help the students to construct a powerful foundation for their careers in the field of Management, Finance, and Accounting.

Known for delivering the best CMA, ACCA, CA, CPA courses and has gained glory in the area of coaching since it has groomed over 15,000 students.

Certified Management Accounting (CMA)

CMA USA course is amassing endless popularity among Commerce students who want to stabilize their career in the field of Finance, Costing, and Management Accounting. It is the best management accounting course in the world.

Its prestige has bought forth so many learners under its umbrella. It unlocks a gateway to different opportunities to outshine your Finance career. 

  • 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. 

And CMA USA has over 100 examination centers and requires you to clear two exams (each of 4 hours duration) to get certified.

CMA USA Eligiblity

Attaining the reputable CMA USA certification from an overseeing country like the USA would enable you to obtain international exposure as well as international qualification. It leads to career growth and development. An opportunity to untangle abroad and discover skills to strengthen, along with a career. 

  • 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)

ACCA course is one of the promising accounting certification courses. It has vast experience in training and educating students for a long time. This furnishes students with the skills, knowledge, and values to gain success in their careers and command the organizations they work in their future. 

  • 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.

Key Differences Among CMA USA And ACCA

There are several distinctions between CMA USA and ACCA. Let’s sneak a glimpse at some of them. 

  • Global Presence- if we correlate through International recognition, ACCA is recognized in the UK and Europe widely. 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 upto Rs.600,000/-. When you’ve 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 to 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+

Primary differences between CMA USA and ACCA – Fees, Salary, Investment & Countries applicable.

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?

The CMA USA unlocks gates into the business world. More than 40,000 learners in 40 years have pursued CMA. This professional course in the accounting domain is highly reputed, advanced, and globally recognized that ascertains mastery in making financial decisions for the business. 

  • 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 as an expert and feel dignified. 
  • CMA USA certification extends compensation and high earnings with international exposure.

Why Choose ACCA?

ACCA is an internationally recognized course with more than 436,000 scholars who are great examples and proof of why anyone should pursue this course. 

  • 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, 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’s atleast 4-5 papers overlapped in ACCA with CMA USA. Ex: Financial Reporting, Financial Management and Performance Management.

Final Conclusion

In case if you’re looking down to settle in the UK or any parts of Europe then ACCA would be a good choice. If you’re planning to settle down in India, Middle east, Canada and USA – CMA USA is the best choice. If you’re an Accounting and Auditing person, good to go for ACCA. If you’re into Management Accounting and Finance then CMA USA would be the best choice for you.

It’s a common question asked by many people who are looking to pursue their careers in the finance sector. Both of these courses are highly competitive and difficult to crack.

There is no doubt that the US CMA program is one of the top most programs in the entire world, while ACCA is considered one of the most prestigious accounting degree programs in the world.

NorthStar Academy is the best institute for CMA USA and ACCA preparation. Our aim is to prepare students with the right perspective and attitude towards learning.

We have designed our curriculum according to the needs of candidates who wish to become a Certified Management Accountant (CMA), Association of Chartered Certified Accountants (ACCA), or any other management accountancy certification program.

Is your choice between a career in CMA USA and ACCA? It can be hard to choose, so why not have a counselling session with an expert? Connect with our expert counsellors to know the key differences. +918147470707  or drop down your query here to get a call back

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