Are you thinking about a career in management accounting? The Institute of Management Accountants (IMA) in the United States offers the Certified Management Accountant (CMA USA) credential, which can lead to international opportunities in accounting and finance. Let's go into the essentials of CMA USA, such as eligibility, costs, course format, and benefits.
CMA USA Eligibility Criteria
After completing your class 12 education, your journey to becoming a CMA USA begins. Full certification, on the other hand, necessitates the following criteria:
Bachelor's Degree: A bachelor's degree from a recognized university is required for complete CMA certification.
CMA Papers Completion: Complete all CMA examination papers successfully.
2 Years Work Experience: You must have at least two years of relevant job experience.
CMA USA Exam Fees in India
It is important to understand the cost breakdown of pursuing CMA USA. The overall costs you must pay to the IMA body differ depending on whether you are a student or a professional. Here's a more in-depth breakdown:
IMA Membership Fee:
Students: USD 39 (INR 3029*)
Professionals: USD 245 (INR 19032*)
Students: USD 210 (INR 16313*)
Professionals: USD 280 (INR 21751*)
Exam Fee (per part):
Students: USD 345 (INR 26800*)
Professionals: USD 460 (INR 35734*)
*Please keep in mind that conversion rates fluctuate.
CMA USA Course Structure
The CMA USA program in the United States provides you with strategic financial decision-making abilities in accounting and finance. The course arrangement includes two exam sections:
Part 1: Financial Planning, Performance, and Analytics (FP&A)
Paper 1: External Financial Reporting Decisions
Paper 2: Planning, Budgeting, and Forecasting
Paper 3: Performance Management
Paper 4: Cost Management Paper 5: Internal Controls Paper 6: Technology and Analytics
Part 2: Strategic Financial Management (SFM)
Paper 1: Financial Statement Analysis
Paper 2: Corporate Finance
Paper 3: Decision Analysis
Paper 4: Risk Management
Paper 5: Investment Decisions
Paper 6: Professional Ethics
Scope of CMA USA
Completing the US CMA course can lead to a variety of options. You'll be prepared to work with customer-focused brands and firms that require management accounting specialists if you focus on business strategy. International exposure, growth opportunities, and the development of entrepreneurial abilities are all advantages. You can expect to collaborate with well-known organizations such as Amazon, Accenture, Coca-Cola, and Apple.
Following CMA certification, the starting income can range between INR 5-7 lakhs per year. Even if you already have a career in accounting or finance, earning a US CMA can widen your horizons for international prospects.
CMA India vs. CMA USA
CMA USA: Institute of Management Accountants (IMA), US
CMA India: The Institute of Cost Accountants of India (formerly ICWAI)
CMA USA: Two exam parts with a total of 20 papers, completing in 6-9 months
CMA India: Three levels - Foundation, Intermediate, and Final, with a duration of 3-4 years
CMA USA: Jan-Feb, May-June, Sept-Oct
CMA India: June and December
CMA USA: INR 5-7 lakhs per annum
CMA India: INR 4-6 lakhs per annum
If you want to work as a management accountant in India or throughout the world, the CMA USA course is a great place to start. Because of its shorter duration and worldwide recognition, it is a significant credential in today's competitive employment market.
Finally, if you're considering CMA USA as a career option after graduation, these insights regarding US CMA fees will assist you effectively negotiate the whole expenditures. With iProledge, you may begin your journey to becoming a Certified Management Accountant and discover the world of accounting. CLICK BELOW TO APPLY NOW