What Can Be Accomplished With CMA Certification in 2022 : career guide

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What Can Be Accomplished With CMA Certification in 2022 : career guide

What Can You Do With CMA Certification?

You must have heard about the CMA as a career option for those who are interested in the Accounting and Financial field. Becoming a member of Institute of Management Accountant and taking the top CMA USA course to acquire the IMA’s CMA certification is a highly desired aspect for many accounting professionals. 

Being a Certified Management Accountant (CMA USA) is a buffer to your resume. Learning networking and being eager to join the CMA is not an easy task. It takes a lot as the course offers a comprehensive choice. 

Are you looking for CMA jobs in India? There are many types of certified management accounting careers like a Chief Financial Officer, Corporate Controller, etc., leading to endless CMA jobs in India that can offer wonderful career prospects. 

Let us explore some of the careers after you have gained the CMA certification Online 

Acknowledging Your Skills as the Certified Management Accountant

After you have acquired certification by clearing the examination, you will be open to highly diverse CMA career opportunities. Many exciting and new CMA jobs in India are available for the CMA-certified professionals. Here,  the CMA full form is Certified Management Accountant and IMA is the top accreditation body which issues the CMA certification for individuals.

Let us explore what is the job of a certified management accountant and why choose a CMA certification. 

After the tough CMA certification exam, you will be able to use the required skills like decision-making, planning, and performance management skills. Later you can apply for the trending CMA jobs in India These are the three most important skills that will help you provide professional advice and reporting. The financial strategies to benefit an enterprise are drafted by a certified management accountant. They work and create to implement such strategies. 

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What are the CMA Certification Requirements?

You are eligible for the CMA certification after the completion of PUC or 10+2. A graduation degree is also required along with the 2 years of work experience. This will be compiled with the 7 years of passing date of CMA. You need to be a member of IMA, and satisfy their experience qualifications as well. Lastly, comply with their IMA Statement of Ethical Professional Practice.

What is the pattern of the CMA Certification Exam?

You have to clear the CMA Exam which happens in two parts. You get 4 hours for each Exam Part and they can be attempted separately on different days.

Part 1: It consists of questions which are related to the topics, including Analytics, Performance, and Financial Planning.

Part 2: It consists of questions on the topic Strategic Financial Management.

Both the parts contain 100 MCQs (3 hours time allotted) and two subjective type questions (30-minute for both essay questions). The candidates have to obtain 360 marks out of a total aggregate of 500 marks to crack the CMA examination.

After acquiring the CMA certification, you will be responsible for-

Planning, Strategizing and Performing

The certified CMA professionals after CMA certification will guide decisions, manage risk and validate performances in the company. They plan, strategize and perform according to the input and output graph of the company. They need to be a good observer to plan a strategy to implement. 

Control and Report 

The Certified Management Accountant will measure the company‘s performance. These performances will be analyzed against the regulations and standards. Your findings will be reported, analyzed, and acted upon.

Technology and Analysis 

The CMA certification will also enhance and work on the success rate of the organization by using technology and other analytical data. These interpretations can help them build a better scope for the company and give you good CMA jobs in India.

Operations and Business Acumen

As a CMA or Certified Management Accountant, you have to function across the arenas. This will improve the organization-wide operations.

Leadership 

This CMA Certification course will also make you a leader. The leadership quality in the professionals can help them lead the teams. The teams are guided to achieve better results and goals for the company. You can always find myriads of comprehensive CMA jobs in India which need these skills.

Professional Values and Ethics

A professional attitude is always appreciated. This is also expected from the CMA-certified professional. To work in integrity, ethics and legal compliance are important. It will demonstrate an ethical and professional outlook.

What is the CMA Certification Cost? 

The following table represents the CMA certification course cost in India-

CMA Fee Type CMA Fee Amount
CMA Certification Course Fee CMA course fee (for Student Category $1035 (3 years)CMA course fee (for Professionals) is $1475 (1 year)
Cma Certification

Career Paths for CMA professionals 

If you are looking for better future opportunities, polish your professional skills, and want to earn better, opt for the CMA certification course. It will provide you with advancement and growth in your career as well as enhance your job security. 

Many accounting jobs are getting replaced by artificial intelligence but CMA USA certification is one of those prospects that are evergreen.

The most common Career Opportunities after the CMA certification are:

  • Financial Analyst 
  • Management Accountant 
  • Corporate Controller
  • Cost Accountant 
  • Accounting Manager
  • Senior Accountant 
  • CFO or the Chief Financial Officer 

Let us explore some of these CMA professional areas.

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Management Accountant 

If you have a passion for planning and strategizing to manage, you can go to the management accountant. You have to plan the budget and strategize the company‘s next moves for a better financial future. 

Financial Analyst 

If you have a passion for finances and studying market trends is your hobby, a financial analyst is for you. You have to pay attention to the financial conditions of the company and the potential investments for the future. As the analyst, you can advise the people on how to split stock and move ahead. Research about finances and analysis is important. This information will help to grow the business in a profitable, stable, liquid, and solvent environment. 

Cost Accountant 

Each cost is analyzed by the cost accountants. They have to record and analyze the expenses and identify the loss of the company. To improve financial management, cost accountants are hired to prepare a risk management chart. 

Accounting Manager 

Data collected from the other accountants is developed and maintained by an accounting manager. All the procedures and accounting systems are well maintained by the professional. They have to go through the daily operations and analyze and monitor the data. 

Corporate Controller 

Duties like billing accounts payable, receivable, and budgeting is controlled and seen by a corporate controller. They have to prepare the annual budget as well as internal and external financial statements. All the current accounting operations with the external auditors and coordinating activities are also handled by a corporate controller. Large companies require a corporate controller.

Chief Financial Officer 

The CFO is the right hand of the CEO who will oversee everything. He will make sure the financial reporting, forecasting of the company‘s investments, and other business decisions are taken aptly. They will track the cash flow, analyze the financial strengths and weaknesses and prepare the risk management strategies accordingly.

Promotion in the CMA jobs in India

It takes a lot of dedication and study to clear the CMA exam, launch your career. As you become the CMA expert, your expectations to get promoted also press.

These are some of the ways you can make sure about the promotion. Let’s explore! 

Social Media Profile

Social media is one of the most in-demand platforms today. People showcase their talent and professional work online. One of the most used professional social media networking websites is LinkedIn. If you want to establish yourself as a newcomer or relaunch, build your LinkedIn profile. It is one of the most popular platforms where there are a lot of professional audiences. 

You can write articles, go with hashtags, direct messages or connect with people around the network to make sure you are on the map. It just takes a few minutes and a little effort to set unlimited professional opportunities.

Resume Updates

New roles, work profiles, accomplishments, projects, internships, or even professional training or some of the merits spots should be mentioned on the Resume/CV.

Networking 

It is important to network with peers, superiors, and colleagues as we live in a fast-paced digital world. Just have a virtual event or attend a webinar and you are all set to network. Making connections can impact your future and provide you with endless future opportunities. 

Advocate yourself 

A good amount of salary with a bonus structure is offered to the newly certified CMA. This should not stop you from asking for a race or negotiating your contract. You can ask for better opportunities ahead because your job demands so.

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What are the Career Opportunities & Compensations?

As the CMA USA expert, you will be welcomed comprehensively across multinational corporations or government agencies academic institutions to private businesses. According to the statistics, 30% of the CMA work in manufacturing. The remaining 70% are divided into the following categories.

(Source: IMA US Salary Survey 2021)-

  • 7% – Wholesale and Retail Trade
  • 8% – Education
  • 3% – Transportation, Communications and Utility Services
  • 3% – Contract Construction
  • 2% – Agriculture, Forestry, and Fisheries
  • 3% – Government
  • 8% – Medical/Health Services
  • 4% – Information Technology
  • 9% – Finance, Insurance and Real Estate
  • 7% – Other Services
  • 3% – Public Accounting
  • 12% – Nonclassifiable

Cma Certification

Career Opportunities &Amp; Compensations

The chart describes the 2021 IMA salary survey. CMA are the big owners and can influence the following industries. Source of the image- IMAnet.org

Frequently Asked questions 

1. Is CMA a good career option in India?

Yes, CMA is a good career option in India. As we read in the article there are endless opportunities that can help you make a better future ahead. The benefits of pursuing the CMA certification include appraisals, job dependability, and personal recognition in a big organization. You can also become the CFO of the company and discover endless future opportunities. 

In India, there is a sustainable demand for trained, qualified, and experienced cost accountants for the government and private sectors.

2. Is CMA in demand in India?

Yes, CMA is one of the in-demand certification courses in India. As artificial intelligence is taking over all the accounting and related responsibilities, there is sustainable growth and demand for trained, experienced, and qualified cost accountants in the private and government sectors. To work in multinational companies, the government sector, private enterprise, developmental agencies, banking, financial sector, education, and training sectors, opting for other CMA certifications can help. You will have stable career growth with good pay and brighter future opportunities.

3. What is the Scope of CMA in India?

The scope of CMA in India is bright. As many big organizations and multinational companies are looking for qualified accountants who can manage comprehensive tasks, CMA-certified professionals are getting hired. You can work in the public and private sector as the chairman or MD (Managing Director), Marketing Manager, Financial Controller, Finance Director, Cost Controller, Chief Financial Officer, and Chief Internal Auditor. You can also see the list of CMA jobs in India online.

4. Does CMA have job opportunities?

Yes, CMA has comprehensive job opportunities. You can also search for CMA jobs in India online and will be offered a list of different sectors like financial controller, chief financial officer, cost accountant, relationship manager, financial analyst, and management accountant among others. It is a whelping job that has sustainable future growth.

5. Can CMA work in banks?

Yes, a certified management accountant or CMA can work in the banks. They can give and appear for the government examination for the central government services like UPSC, bank recruitment board, and railway recruitment board among others. Although the work of the accountant is different from the banker, if you like to have a cost audit or play with the taxes and prepare a cost routine, you can opt for banking as well.

6. Can a CMA work in SBI?

Yes, you can work in the State bank of India as the CMA. The State bank of India has authorized applications from Indian citizens for the post of specialist cadre officers.

Wrapping Up 

As the article described, there are endless opportunities after the CMA certification. 

The CMA jobs in India can help you make your future and career exciting. Whether you want to become the CFO of a big company or want to get involved in the cost accountant department, there are endless opportunities. 

To make the best out of your career, choose according to your passion and complete the CMA certification requirements. You can get the best CMA certification course at a reasonable cost in India from NorthStar Academy

Register for our certification course and welcome endless future opportunities with our best organized and comprehensive courses along with top mentors like Irfat Sir
Still have any queries, you can always contact us.

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