CMA is a very respected and valuable certification for accountants around the world. Not just because of the credential, it enhances one's skills and knowledge of management accounting and most importantly business ethics.
After qualifying, CMA will have two options either to go for practice or a job.
CMAs are statutorily confined to doing Cost audits, Internal audits (which is rare for a CMA in practice to get the assignment of internal audit). As far as employment is concerned CMAs have a lot of opportunities waiting.
Some companies (not all of them) treat the CMA profile on par with CA and offer roles in corporate finance roles, analyst roles.
Top 5 Advantages of Having CMA Certification
The main benefit of CMA certification is that it is considered to be the best accounting certification for management as it has the perfect amalgamation of business and accounting. In CMA, you learn about corporate governance and other important business aspects
, finance, and accounting concepts, including responsible accounting.
Therefore, candidates with CMA certification are allowed to make business decisions or are involved in collective business decisions. Companies trust their business acumen, and they are handed important roles in an organization. This certification makes candidates learn the difference between accounting and accounting that is profitable and efficient. Therefore, if you get a CMA certification, you will have better business appeal
CMA is a management-level certification that brings multiple growth opportunities. When compared to college graduates without any additional certification or just CPA certifications, it was found that CMA
candidates get better entry-level jobs and opportunities to get promoted.
The CMA certificate is a beacon that signals you are not just going to do accounting; you are going to take on more responsibilities and manage the accounts. Other candidates also do not grow beyond a certain position and salary, while with a CMA certification, you can quickly move into a management position
Money is the biggest motivating factor for most professionals, so why not you? Getting a CMA certification makes you eligible
for a higher salary than other candidates. In recent studies, it was found that CMA certification holders earn up to 67% more than other candidates having just a degree or CPA certificate. This has grown substantially from the figures of 2016. When benefits like health insurance, pension, and fringe benefits are measured, the earning potential is even more. This is because CMA-certified candidates have the best advantage to move up into management faster after gaining experience, and even when they switch jobs, they get a bigger raise as CMA-certified candidates are high in demand in the job market.
CMA certification has value on a global level. You may be a graduate and get a good job in your country, but if you have dreams of working abroad in another country, you will have to get a CMA certification. Some countries may not give much value to your college degree depending upon which country you have studied in and which country you want to work in. However, CMA certification
is recognized and valued the world over, and you can easily apply for a job in the Western, European, and Middle Eastern countries, where the salary scales are much higher
CMA trains you to have a better understanding of business, finance, and accounts. So, you don’t merely do a task, you understand the reason behind it, and you find ways of doing it efficiently to provide a better result than expected. You will become the go-to person for important questions. Your opinion will be valued, and you will soon become an integral part of the management. Many CMA-certified candidates have also gone on to become CFOs
. Therefore, with CMA certification, you will be valued more as an employee and will always get your due appreciation.
CMA is a valuable and worthwhile certification for professionals in the business. The knowledge base comes up whenever we pitch a client as to our ability to assist them in their quest for improvement or problem-solving.
The CMA would also help to increase the earning potential and is proven from a recent survey that states CMA's earn as much as 60% more than non-certified professionals. The CMA
certification focuses on advanced accounting and financial management skills such as planning, budgeting, forecasting, and managing cost as well as fundamental skills required to evaluate investment opportunities and support strategic financial decisions based on strong analysis and sound ethics. For employers, CMA represents valuable commitments to perform comprehensive rigorous financial analysis and to provide accurate, transparent financial reporting in the interest of driving economic values at all levels of the organization.
Obtaining the CMA Certificate will benefit you by enhancing your financial, accounting, and management skills that will expand your career potential, and which will help you to stand out from the rest.
Some of the job roles that you expect after completing CMA USA are
- Finance Manager
- Financial Analyst
- Financial Risk Manager
- Chief Financial Officer
- Cost Manager
- Financial Controller
- Cost Accountant
- Relationship Manager
It is a computer-based exam that includes two parts:
- Financial planning, Reporting, Control, and Performance.
- Financial Decision Making.
It is a 4-hour long exam consisting of 2 sections:
- 100 multiple choice questions - 3 hours.
- 2 Essay questions - 1 hour.
The student must answer 50% of multiple-choice questions, and those must be correct answers, then he/she is eligible to write essay questions. In both parts, you're no need to pass independently.