CMA India or CMA USA, which of the two is better?

August 27, 2021
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On the contrary, CMA India is highly valued. It is just that CMA USA is seen, as a better value proposition, for many reasons. It is important to note that CMA India and CMA USA are almost the same, with respect to knowledge and information that is acquired.

However, there are certain suitable differences that give CMA USA an edge over CMA India. These have more to do with the way the exam is conducted, and not the course material. Both CMA US and India are professional accounting and finance certifications that can help you advance your career.


Let’s focus on the major differences between CMA US Vs CMA India courses.

CMA US VS CMA India table of content

CMA US - 2 Exams

Part 1: Financial Planning, Performance, and Analytics

  • External Financial Reporting Decisions
  • Planning, Budgeting, and Forecasting
  • Performance Management
  • Cost Management
  • Internal Controls
  • ITechnology and Analytics

Part 2 - Strategic Financial Management

  • Financial Statement Analysis
  • Corporate Finance
  • Decision Analysis
  • Risk Management
  • Investment Decisions
  • Professional Ethics

CMA India - 20 Exams (Papers)

CMA Foundation

  • Paper 1: Fundamentals of Economics and Management
  • Paper 2: Fundamentals of Accounting
  • Paper 3: Fundamentals of Laws and Ethics
  • Paper 4: Fundamentals of Business Mathematics & Statistic

CMA Intermediate

  • Paper 5: Financial Accounting
  • Paper 6: Laws, Ethics and Governance
  • Paper 7: Direct Taxation
  • Paper 8: Cost accounting and financial management
  • Paper 9: Operation Management Information System
  • Paper 10: Cost and Management Accounting
  • Paper 11: Indirect Taxation
  • Paper 12: Company Accounts & Audit

CMA Final

  • Paper 13: Corporate Laws and Compliance
  • Paper 14: Advanced Financial Management
  • Paper 15: Business Strategy & Strategic Cost Management
  • Paper 16: Tax Management and Practice
  • Paper 17: Strategic Performance Management
  • Paper 18: Corporate Financial Reporting
  • Paper 19: Cost and Management Audit
  • Paper 20: Financial Analysis & Business Valuation


As you can see, there are a lot of similarities in the topics tested in the exams. There are more exams in the CMA India certification, and it takes longer to become certified. The CMA India certification benefits are focused on IND AS (Indian GAAP) and knowledge of Indian Corporate Law, which means it can be more applicable for Indian residents and candidates working for Indian companies.

The CMA US certification benefits are global recognition, and it only takes 6 months – 1 year to become certified. If you are planning to work outside of India or for an international company, the CMA US is definitely the preferred option.

CMA is considered as the highest level of certification in management, but the course credibility increases when it is awarded by IMA USA (Institute of Management Accountants).

Still struggling to consider a course that best suites your future career goals? Contact us with experts insights you can achieve more than your expectations.


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