Certified Management Accountant (CMA) is a professional course that makes you globally qualified to work as a management accountant. This course comes under the jurisdiction of the Institute of Management Accountants (IMA) which is a US-based accounting body.
A management accountant is responsible to look after accounting operations such as financial planning, analysis, control, professional ethics and more.
Courses you can pursue after US CMA
Most students who pursue US CMA are fresh pass-outs from class 12. There are several benefits of doing US CMA and even more if you combine it with another course. After gaining enough experience, it is advisable to pick up a second course to better supplement your career in accounting and finance. If you are planning to do the same and would like to know what courses can be done after the US CMA, here are some options to consider.
1. US CPA
If after completing your US CMA you realise that you would prefer to specialise in accounting, then US CPA might be a great course to pick up after it. US CPA, which stands for Certified Public Accountant, is a qualification that comes under the American Institute of Certified Public Accountants (AICPA). This qualification allows you to work in countries such as the US, Canada, Australia and New Zealand.
On the other hand, if you would prefer to work in the finance sector and are planning to work in profiles such as Investment Banker, Financial Analyst or Portfolio Manager, then you can opt for the Chartered Financial Analyst course (CFA). After completing CFA with US CMA, you will be able to look after the management aspects of a company’s finances and advise them on their existing or potential investments.
One of the most popular courses in accounting and finance that are pursued by students after completing their graduation is MBA in Finance. If you are able to secure admission to one of the top colleges in India for an MBA, then this should be your first choice over any other course.
With ACCA Course you will be able to work as a professional accountant in India as well as in 183+ other countries including the UK, Singapore, Hong Kong, Dubai and the UAE. ACCA can be done directly after class 12 or after graduation. If you pursue ACCA after graduation in the field of commerce, you may also be able to get exemptions from some of the Knowledge and Skill level papers.
Job Profiles after US CMA
The scope of US CMA is immense in India as well as across the world. The course offers many opportunities for candidates in the field of management accounting. In addition to the Big 4 (KPMG, Deloitte, PwC, EY) and companies like Grant Thornton, BDO, Accenture and Amazon are keen on hiring US CMAs. This qualification helps you specialise in the US GAAP and IFRS and gives a better understanding of the difference between the two.
Some of the most common job profiles after US CMA are as follows:
1. Cost Accountant
A Cost Accountant is responsible for planning a budget and ensuring the financial operations of a company. They are responsible for thoroughly analysing the budget and expenses of any upcoming projects and also auditing the cost-effectiveness of existing projects and strategies.
2. Finance Manager
As a Finance Manager, you will be responsible for looking after the overall financial landscape of a company. They also offer guidance on what kind of investments should be made and avoided based on the current market trends and the company’s risk profile. In addition to looking over the new financial investments, a Financial Manager also needs to look after the existing investments and make changes.
3. Financial Analyst
If you are interested in learning more about the stock market or having a better understanding of how to make the most profit by buying and selling investments, then you could become a financial analyst after completing your US CMA course. If you wish to specialise in financial analysis and eventually work at a higher designation such as an Investment Banker or Portfolio Manager, then you should also check out the CFA course.
4. Financial Risk Manager
A Financial Risk Manager is a professional who analyses the finances and investments of a company and determines the potential risks faced by the company. They also suggest ways to reduce this potential risk in the most efficient and effective way possible.
5. Asset Management
An Asset Manager is a professional who oversees the status of every asset of their client or company and analyses the overall needs, risks, goals and the progress of each asset. They also keep up with the market trends to maximise the profits earned from each asset and new potential assets to acquire.
Eventually, with the right kind of progression in your career and consistent improvement in your skills, you could also possibly be promoted to work as a Chief Financial Officer of a company.
Certified Management Accountant (CMA) is a credential awarded by the Institute for Management Accountants, USA. This global certification is open to all students who have completed their 10+2 or the high school equivalent. If you are interested in pursuing a career in accounting, check out our Certified Management Accountant (CMA) course.
What qualifications do you need to become a US CMA?
Students can start studying for CMA after the 12th grade pass out. To be certified as a CMA, you will need a Bachelor's degree, completion of the CMA papers and 2 years of work experience.
What is the duration of the US CMA course?
The US CMA course consists of just 2 papers and can be completed in approximately 6-9 months.
What is the US CMA coaching fee?
The US CMA course at Zell Education will cost you about INR 85,000.