After finishing your tenth and twelfth grades, it can be difficult to establish your interests and future professional path. If you have an aptitude for numbers and want to pursue a career in accounting, consider CA, US CMA, CPA, or CIMA. A CA or CPA degree is a preferable option for those who want to study accounting exclusively. However, if you are more interested in the management side of accounting, courses such as US CMA and CIMA are worth considering. If you're unsure about the difference between accounting and management accounting, which makes it tough to pick between US CMA and CA, this guide can assist clarify your worries by differentiating between US CMA and CA and showing the benefits of choosing CMA USA / US CMA over CA
Before beginning with the advantages of CMA USA over CA let us first see what is CMA USA and CA.
What is CMA USA ?
CMA USA or commonly called US CMA. The Certified Management Accountant (CMA) credential is a professional certification in the fields of management accounting and financial management. It indicates that the holder has expertise in financial planning, analysis, control, decision support, and professional ethics and controlled by the board Institute of Management Accountants (IMA)
What is CA ?
Chartered Accountants (CA) are professional accountants qualified to perform various specialised tasks within the accounting field. Their typical responsibilities include auditing financial statements, filing corporate tax returns, and offering financial advice and controlled by the board ICAI - The Institute of Chartered Accountants of India
Now let us know more about CMA USA and CA
Differences | CMA USA | CA |
Board | IMA (Institute of Management Accountants) | ICAI – The Institute of Chartered Accountants of India |
Course Duration | 6-9 Months | 5 Years |
Eligibility Criteria | The applicant should have either a Passing mark sheet for class 12th.A National Diploma in Commerce or a diploma in Rural Service Examination from a recognized board. | The applicant should have successfully completed their 10th and 12th examination to appear for the entry-level CA foundation course with a 50% aggregate score in 12th. |
Scope | Financial Risk Manager Internal Auditor Cost Accountant CFO | Taxation Advisory Internal Auditing Forensic Auditing Statutory Audit Actuary Professional |
Salary | INR 5 to 20 LPA | INR 6 to 10 LPA |
After knowing the difference between CMA USA and CA let us now know the advantages of CMA USA over CA
Advantages of CMA USA over CA
Short course with good exposure This short professional course can be completed in 6 to 9 months, depending on your learning pace and career goals. The US CMA program provides industry-relevant knowledge and strategic management skills, fostering both professional and personal growth. Upon successful completion, you could have the opportunity to work with multinational companies like Accenture, Big 4 audit firms, and US-based banks.
Globally accepted Unlike CA, the US CMA is a globally approved certification in North America, the Middle East, Europe, Australia, and some Asian nations. If you want to advance your career overseas, you should acquire a qualification that is recognised in your preferred country. One key factor for the recent surge in US CMA applications is the potential to work abroad.
Can be pursued after 12th You can enrol in this course right after completing your 12th standard and pursue it alongside your graduation degree. The US CMA course combines accounting and finance knowledge with a deep understanding of management strategies. Other globally recognized courses you can pursue after 12th grade include ACCA, CA, and the FRM course.
Be on the management side of business A Chartered Accountancy degree will largely focus your abilities and experience on accounting-related activities such as budgeting and taxation. With a management accounting degree, you'll be able to make strategic decisions based on financial information.
Huge Demand in Indian Market as well If you're contemplating CA because of its popularity in the Indian market, you might be shocked to find that the US CMA is also in high demand. Following the epidemic, many Indian businesses have begun to build financial teams led by skilled Certified Management Accountants who can strategically manage cash flows. The increasing demand for insurance policies and goods expands potential for US CMAs in India.
These are the few pointers that explain the advantage of choosing CMA USA over CA. Keeping the exposure, growth , duration , salary , job opportunities and few other essential factors in consideration CMA USA has more exponential growth over CA.
Conclusion :
Choosing between CMA USA and CA depends on your career goals and interests. If you are looking for a globally recognized certification with a shorter duration and a focus on strategic management, CMA USA is an excellent choice. It offers diverse job opportunities, high demand in both international and Indian markets, and the flexibility to pursue it alongside your graduation. In contrast, CA is a more traditional route with a focus on accounting and auditing, primarily within the Indian context. Both certifications have their unique benefits, but CMA USA stands out for those seeking a rapid and international career trajectory.
FAQs on advantages of CMA USA over CA
What is the primary difference between CMA USA and CA?
CMA USA focuses on management accounting and strategic decision-making, while CA emphasises auditing, taxation, and financial reporting.
Can I pursue CMA USA right after completing my 12th grade?
How long does it take to complete the CMA USA course?
Is the CMA USA certification recognized globally?
What are the job prospects for CMA USA in India?
Comments