In an age of rapid globalization and digitalization, the entire industry is looking for faster ways to boost its growth. Nowadays, in every department of the factory, you will find professionals who are already specialized in how to generate value for the company and its revenue. However, all profits, expenses, debt and cash flows over time depend on good financial management and accounting. Today, companies need professionals who not only keep track of accounting data but also provide them with advanced strategic solutions. And that’s where the demand for US CMAs comes into play.
US Certified Management Accounting (CMA)
is a 6- to 9-month accounting course administered by the Institute for Management Accountants, USA. The scope of the CMA is quite broad considering its global recognition and skills-building concepts. Here is a detailed summary of the scope of the CMA course in India and what makes this career the next big thing in the accounting field.
Top reasons why you should consider taking the US CMA
The question most readers have in mind when it comes to taking on a CMA - what exactly is the US CMA
and should they really take it? If you are facing the same questions, look no further, we will make this easier for you.
Here are some of the top reasons why you should do US CMA:
- The US CMA is an internationally recognized certificate recognized in North America, the Middle East, Europe, Australia and Asia.
- When you successfully complete this course, you may have the opportunity to work for MNCs such as Accenture, Big 4 research firms and US-based banks.
- This course is a short professional course that can be completed in 6 to 9 months based on your learning speed and career track. You can take this course immediately after completing your 12th grade and pursue your degree with this technical course.
- This course will equip you with not only field-related knowledge but also strategic management skills that will assist you in your professional and personal growth.
Why you work in India after completing the US CMA
Many experts feel that pursuing the US CMA in India
and acting as USA CMA experts at the same time is not worth the time and effort as the scope is very limited. However, this belief is certainly wrong. Although there are more opportunities for these workers in US-based companies, the skills acquired by these workers, can be very fruitful for Indian firms and government offices. Here's how breaking this myth is one of the top reasons to work as a CMA in India.
- The US CMA is a leading financial management certificate that is slowly gaining more popularity among Indian companies.
- The growing demand for insurance policies and products may improve the chances of US CMAs in India.
- Following the epidemic, several Indian firms have begun developing their own financial teams led by a Certified Financial Management Specialist who can control the flow of funds in a strategic manner.
- Strengthening the banking sector in rural India could improve opportunities for US CMAs. This can also help them find different information to add to their CVs.
Scope of US CMA in India
The US CMA
is an effective skills building course that enables accountants to make strategic decisions for the company. They are responsible for recording financial data, simplifying the data and presenting it to the management team and their solutions. Here are some of the roles that US CMA specialists often have.
- Budget Analyst
As the profile name suggests, Budget Managers manage the organization's overall budget. They monitor the flow of funds and approve spending requests submitted by management team or staff based on the evidence they provide. They also review the budget and set future targets based on past data and future predictions.
- Finance Manager
is responsible for creating the company's financial reports. They track and record financial data and provide solutions to generate additional revenue. They can oversee the end of financial transactions, keep balance sheets and manage the risk of financial loss. The Treasurer is an important member of the Treasury.
- Forensic Auditor
The Forensic Auditor is equipped with analytical skills and a high standard of accounting. They are responsible for investigating the financial transactions of individuals and organizations. These professionals are often hired by the government or legal cases to obtain fraudulent or fraudulent data.
- Compliance Manager
Compliance Manager ensures that the organization's rules, regulations and policies are in line with legal and ethical standards. They are also known as Compliance Specialists with analytical skills. Some of their responsibilities include routine auditing, monitoring and implementing firm policies and managing design programs.
- Assistant Manager
There are a number of responsibilities that the Assistant Director takes care of, from preparing accurate financial statements to establishing and monitoring internal cash flow and credit flow. They prepare monthly, quarterly and annual financial data obtained from various sources and assist in preparing the company's annual budget.
Does CMA have scope in India?
Yes, CMA has scope in India, why because CMA certification is offered by the Institute of Management Accountants (IMA) based in the United States, and it is recognized globally. In India, the IMA has a local chapter called the IMA India Chapter, which provides support to CMA candidates and professionals.
Many Indian companies, especially those with global operations, prefer to hire CMA-certified professionals for their financial management and strategic decision-making roles. Some examples of these companies include TATA Steel, Accenture, Genpact, ICICI Bank, and Wipro. Additionally, the Indian government has also recognized the CMA certification, and it is considered equivalent to the Indian Cost Accountant (ICAI) and Chartered Accountant (ICAI) qualifications.
City wise earnings and scope of US CMA study in India
As more students realize the benefits and scope of the US CMA course
, its popularity is growing. If you are still thinking about the appropriateness of this course, we recommend that you put all your doubts and choose a brilliant international career, because the best time to do this course is now!
Certified Management Accountant (CMA) certification issued by the Institute for Management Accountants, USA. This international certificate is open to all students who have completed their 10 + 2 or equivalent in high school. If you would like to pursue a career in accounting, see our Certified Management Accountant (CMA) course.