US CMA vs CMA India: Which Course is Better ?

When it comes to building a career in accountancy you have numerous options like cost and management accountant. We will break down the major differences between these two certifications, from eligibility requirements to global recognition, to present you with what really works for you.

While both the CMA India and US CMA open the way toward successful careers in management accounting, they are oriented toward different markets and professional requirements. Let’s start with knowing what is a US CMA course? And how is it different from the CMA India course? What is the US CMA syllabus? Is CMA tough? Indian CMA course details? With a list of the Top 10 CMA Institutes in India and more.

What is US CMA Course?

The US CMA (Certified Management Accountant) qualification, awarded by the Institute of Management Accountants (IMA), serves as a world-respected professional credential in the areas associated with management accounting and financial management. 

While it is a two-part examination process, the course helps in equipping professionals with the most critical skills in financial planning, performance management, and strategic decision-making policies. The program is internationally accredited and designed for professionals who wish to further their careers by showing much better financial and strategic management competencies in almost all industries. 

What is Indian CMA Course?

The Indian CMA, Cost, and Management Accountancy, is a professional course affiliated with the Institute of Cost Accountants of India and caters to finance professionals aiming to specialize in cost management and strategic financial planning in India. 

It consists of three levels: Foundation, Intermediate, and Final. Important areas concerning the CMA course include cost accounting, financial strategies, and regulatory compliance. It seeks to develop professionals who can become major contributors to driving an organization toward efficiency and profitability. The Indian CMA can rightly be called one of the strong proofs of dedication to excellence in financial management and strategic planning, making a big difference towards success achievement among businesses across India, especially by those striving for greater heights in making financial decisions or leadership.

CMA US or CMA India which is better?

Now, deciding whether CMA US or CMA India is better? will be based on your career goal, geographical focus, and professional aspirations.

If you are looking to work abroad or have a globally recognized role, then CMA US is the best choice. It lays more focus on financial management and strategic business decisions concerning global business practices. This certificate is highly valued, particularly in the United States of America and even globally, offering broad career opportunities with higher salaries.

CMA India relates to Cost and Management Accountancy, with a concentration on excelling in the Indian market. Students acquire vast knowledge of Indian cost management, regulatory compliance, and financial strategies. The course has three levels and is highly regarded for seeking improvement in organizational efficiency in the Indian region. This would be good for you if you’re going to work in organizations in India or have intentions of working with Indian companies.

In other words, if your career goals have an international twist to them, CMA US is the best alternative. If it is within India that you want to work and you want to successfully guide through its specific financial environment, then a CMA in India would be more desirable. US CMA and Indian CMA course details are explained below.

US CMA Vs Indian CMA: Eligibility Criteria 

US CMA Course Eligibility

Educational Background: You are expected to have a bachelor’s degree from an accredited institute or an equivalent professional degree.

Professional Experience: You must have two years of continuous professional experience in management accounting or financial management, either before or within seven years of successfully passing the exam.

IMA Membership: The IMA mandates that you become an Institute of Management Accountants (IMA) member to sit the exam and use the facilities.

The above-mentioned pointers are US CMA course eligibility requirements that you need to meet to earn the certification.

Indian CMA Eligibility

Foundation Course: It requires that you clear Class 12 pass or an examination that can be considered equivalent from any recognized board or institution.

Intermediate Course: You need to clear the Foundation Course or be a graduate from any stream that excludes Fine Arts to reach this level.

Final Course: In final level, admission is based on the stipulation that they pass the Intermediate Course.

Comparison between the two:

By comparing the eligibility conditions of CMA India and CMA US, you will find that a very different scenario is there for each professional requirement. 

For example, with respect to the Indian CMA, you start from the basic, educational prerequisite, you will find those prerequisites leading one after another through Foundation, Intermediate, and Final to a finally built strong foundation course in Cost and Management Accounting.

For the US CMA, greater emphasis is placed on higher education and professional experience, along with the supplement of IMA membership. This path highlights international business practices and strategic management, and many professional paths are eligible.

Both of them are a certification for top quality, for which candidates are awarded for their relevant skills and knowledge. So consider the above options, considering how this criterion might fit into your career goals and background.

US CMA Vs Indian CMA: Syllabus

When it comes to the syllabus, the US CMA and Indian CMA programs offer very different journeys through the world of management accounting. Here’s a breakdown to help you understand what each path entails: 

US CMA Syllabus

The US CMA program is designed to be a fast track to financial and strategic management expertise, typically completed in 6 to 9 months. It’s divided into two parts:

Part 1: Financial Planning, Performance, and Analytics

Subjects: External Financial Reporting Decisions, Planning, Budgeting, Forecasting, Performance Management, Cost Management, Internal Controls, and Technology Analytics.

Part 2: Strategic Financial Management

Subjects: Financial Statement Analysis, Corporate Finance, Decision Analysis, Risk Management, Investment Decisions, and Professional Ethics.

This program focuses heavily on global business practices and strategic management.

Indian CMA Syllabus

The Indian CMA course, conducted under the Institute of Cost Accountants of India, is a three-year integrated course divided into three parts: Foundation, Intermediate, and Final. The contents of these three levels are as follows: 

Foundation Course

Key Subjects: Fundamentals of Economics and Management, Accounting, Laws and Ethics, Business Mathematics and Statistics.

Intermediate Course

Key Subjects: Financial Accounting, Laws and Ethics, Direct Taxation, Cost Accounting, Operations Management, Strategic Management, Indirect Taxation, Company Accounts and Audit.

Final Course

Key Subjects: Corporate Laws and Compliance, Strategic Financial Management, Strategic Cost Management, Direct and Indirect Tax Laws, Corporate Financial Reporting, Cost and Management Audit, Strategic Performance Management, and Business Valuation.

Unlike US CMA syllabus, which is focused and of short duration, the Indian CMA is spread over three years with an in-depth and vast curriculum that provides a wide base of knowledge and skills in the area of cost and management accounting.

US CMA Exam Structure

The US CMA is divided into two extensive parts that deal with the critical areas of management accounting. The overview can be presented as follows :

Part 1: Financial Planning, Performance, and Analytics

Format: 4 hours total

Components: 100 multiple-choice questions (MCQs) and two 30-minute essay questions.

Focus: This part includes external financial reporting decisions, planning, budgeting, forecasting, performance management, cost management, and internal controls with an emphasis on analytics and technology.

Part 2: Strategic Financial Management

Format: 4 hours total

Components: 100 multiple-choice questions and two 30-minute essay questions.

Focus: Financial statement analysis, corporate finance, decision analysis, risk management, investment decisions, and professional ethics.

Indian CMA Exam Structure

The Indian CMA examination conducted by the Institute of Cost Accountants of India is pretty extensive. It comprises three stages, and at each stage, it requires a more focused approach. These stages are as follows:

Foundation Course:

Format: 4 papers

Components: The questions will be a combination of descriptive and objective types.

Focus: It would target the basic elements of economics, management, accounting, laws, ethics, and business mathematics.

Intermediate Course:

Format: 8 papers, consisting of two groups with 4 papers in each group.

Components: Blend of descriptive and objective questions.

Focus: Higher-level subjects like Financial Accounting, Cost Accounting, Direct and Indirect Taxation, Operations Management, Strategic Management, Company Accounts, and Auditing. 

Final Course:

Format: 8 papers, divided in two groups.

Components: Same as Inter: Blend of descriptive and objective questions.

Focus: Deep subjects like Corporate Laws, Strategic Financial Management, Cost Management, Direct and Indirect Tax Laws, Financial Reporting, and Business Valuation. 

Global Recognition of US CMA Vs Indian CMA

US CMA: 

The reason why this certification will become a popular pick among all professionals in their pursuit of international recognition is stated as follows:

Global Reach: The US CMA designation is widely accepted across continents, mainly due to several multinational corporations and international business centers. Its global curriculum and specific focus on international financial management make it very popular among professionals looking to practice in both a diverse and international environment.

Industry Endorsement: Many international organizations, particularly Fortune 500 companies, value the US CMA due to its comprehensive approach toward financial planning, performance management, and strategic financial decision-making. This certification is mostly one of the preferred qualifications for finance, accounting, and management in international circles.

Networking Opportunities: US CMA opens up several networking opportunities. You would get a chance to network with a large group of international professionals under IMA. This networking aids in career building and, at the same time, proves helpful in learning the latest trends across the globe.

Indian CMA

National expertise: The Indian CMA is tailored to take into consideration the Indian financial regulations, cost management practices, and local business environments. It is a key qualification for people who want to excel in the Indian market or work with companies from India.

Regional Growth: Traditionally Indian market-oriented, the Indian CMA has been gaining ground in other countries, especially in those where Indian companies have a strong presence. These can be countries with immense business investments from India or those that show great demands for professionals who have adequate knowledge of the Indian way of doing accounting.

US CMA vs CMA India Career Scope

The CMA course, be it the US-based course or the Indian one, opens up a range of opportunities for students and existing accounting professionals who want to advance their careers. The demand for qualified CMA exists not only in the private sector, but also in the government, banking and finance, education, and research sectors, developmental agencies, services, as well as the public utility sector.

Some Of The Job Profiles In US CMA And CMA India Include

As you go forward with these opportunities, you will experience immense career growth, social and professional reputation, and a high income. The freshers are employed by regulators as well as reputed companies with an average pay of INR 8.8 lakh rupees per annum. The top recruiters for both Certified Management Accounting (US CMA) and Cost and Management Accounting Course (CMA) include Accenture, ITC, Vedanta, Philips, Deloitte, KPMG, and GST Suvidha among others.

The average salary for both these professionals ranges from around 7 to 8 lpa. However, the salary could vary as per different factors such as location, experience, job profile and company size. The earnings for  CMA professionals increase with experience and skill set development.

US CMA Salary Vs Indian CMA Salary

US CMA Salary:

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Indian CMA Salary: 

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Passing Rate in India: US CMA vs Indian CMA

Of course, passing rates can give a good insight when looking to take certification exams regarding the difficulty and competitiveness of each program. Breaking down the pass rates for the US CMA and Indian CMA can help create a much clearer picture of what one should expect.

US CMA Passing Rates in India

Part 1: Financial Planning, Performance, and Analytics – The pass rate for this part stands at around 45%.

Part 2: Strategic Financial Management – The pass rate for this paper lies at about 50%. 

By and large, the US CMA examination is tough yet achievable. Generally, candidates have to really study hard to grasp the numerous diverse topics so that they can pass. 

Indian CMA Passing Rates

The examination comes at three levels: Foundation, Intermediate, and Final. Each level has its own difficulties and hence the passing rates differ accordingly.

Foundation Level – The result percentage for the Foundation course is about 20%. 

Intermediate Level – The pass rate for the Intermediate level of the course is about 15%.

Final Level – The passing rate for the Final course is about 10%. 

The CMA passing score in India is much lower due to the high competition and comprehensive nature of the exams. Candidates have to put in huge amounts of preparation and practical experience to clear these exams.

US CMA vs CMA India Job Opportunities

There are several companies ranging from different industries that require CMA professionals who can handle their finances efficiently and help them generate more profits. From healthcare to retail, from EduTech to every sector today and especially after the pandemic, wants to plan their finances in a better way.

Job Opportunities for US CMA Professionals

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Job Opportunities For CMA India Professionals

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Top 10 CMA Institutes in India

Choosing the right institute for the pursuit of your CMA certification is important for your success. Here is a list of the top 10 CMA institutes in India, known to be the best for their quality education, experienced faculty, and great records of the successes of students.

1.  Zell Education 
2.  Lakshara Academy
3.  Insight Academy
4.  Imarticus Academy
5.  FPA
6.  Edgytim Academy
7.  Mylogic
8. VSI Jaipur 
9. Navkar Institute 
10. Miles Education 

Conclusion

The choice between the US CMA and Indian CMA is based on what you want to achieve in your career. If you are targeting international work, the US CMA would be an excellent credential that opens the doors up for an internationally recognized qualification. If you want to get focused on the Indian market and all its financial regulations, the Indian CMA is better. Both the courses are good but distinct in their results and you should pick one according to your aspirations.

US CMA and CMA India are both prestigious accounting courses that bring forth a range of opportunities. However, if you are looking for global opportunities with a shorter course duration, US CMA would be the right choice for you. Zell Education offers this course through an experienced faculty and cutting edge course content.

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.

FAQ’s on US CMA vs CMA India:

Is CMA tough?

The candidate needs to be an IMA member (different types of membership and pricings explained in the pricing tab), pay the exam application fee – which is valid for a period of 3 years within which the candidate needs to complete the exam (in case they fail to clear the exam, they would have to repay this fee and they get 3 more years) and then book the exam and pay the exam fee 4-5 weeks prior to the date they want to appear for the exam.

Which is Tougher ACCA or CMA?

One of the other tricky questions would be ACCA or CMA which is tougher. ACCA is broader because it encompasses a great deal within its domain, from financial management to audit and taxation. The CMA is more focused on management accounting and financial management, making it, therefore, more specialized but intense in its sphere.

Can Indian CMA Work in the USA?

No, CMA India is a very highly regarded qualification within India; however, working in the US usually requires validation of qualification and sometimes additional certification or recognition, like the US CMA or Certified Public Accountant.

Is CMA US Better Than CMA India?

US CMA: Globally recognized, this qualification seeks a career with international exposure to management accounting. It is concise in content and focuses on financial planning, performance, and strategic financial management.

CMA India: Tailor-made for the Indian market, this is what a person would want to have if he or she intends to work in India or with firms from India. This covers a wide array of subjects relevant to accounting in India, other than the regulatory standards.

Satyamedh Nandedkar, a seasoned finance professional, holds ACCA, CA, US CMA & CS credentials. With 10+ years of experience, he’s a master ACCA tutor, IFRS trainer, adept in global financial standards, and a trusted advisor in navigating complex financial landscapes.

Siddhant Khanvilkar

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