Scope of CMA in India

April 24, 2021
Subjects of CMA Course
April 24, 2021
ACCA job opportunities
Job Opportunities & Employers after ACCA in India
April 24, 2021

What is CMA?

Certified Management Accountant (CMA) is a professional certification credential in the management accounting and financial management fields. The certification signifies that the person possesses knowledge in the areas of financial planning, analysis, control, decision support, and professional ethics.

CMA certified professionals work inside organizations of all sizes, industries, and types, including manufacturing and services, public and private enterprises, non-profit organizations, academic institutions, Government entities (USA), and multinational corporations worldwide. CMA has a better Career scope in Management Accounting Globally than Cost Accountants of SAARC Countries.

Scope of US CMA in India:

In this globalized world, organizations require professionals such as Cost Accountants (CMAs) who have specialized knowledge on business strategy and value creation. The Cost Accountant being the foundation on which the enterprises are built, the specialized education and training by the Institute make the Cost Accountant a multi-faceted professional. CMA's are the driving force in all economic activities, as they are the value creator, value enabler, value preserver, and value reporter.

Over the last few years, the importance of CMA in India has been on the rise. This is due to India’s economic growth, large foreign businesses entering its market and the Make-in-India movement.

Benefit of getting the CMA certification is it will open a lot of prospects for you in the Indian as well as in the global markets. Some of the jobs roles in that you can work after completing this Certified Management Accountant course are Financial Analyst, Internal Auditor, Finance Manager, Financial Controller, Cost Manager, Relationship Manager, Cost Accountant, Chief Financial Officer.

In the corporate accounting world, CMA USA is a very respected designation. The CMA is an advanced professional certification specifically designed to measure critical accounting and financial management skills. This is especially relevant for success in a business environment. It has good opportunities in Indian MNC’s.

B. Com degree holders with CMA certification are highly in demand by the government sector, private enterprise, development agencies, banking, and finance sector, education, and training sectors. With the advancement of the economy, demands for cost and management professionals are rising rapidly. Various career choices that often considered but at the same time, most people have inadequate knowledge about a particular career stream.

With India’s economic boom in recent years, USA CMA really stands out as a powerful and demanding career option in India with ever-widening scope. With the unprecedented rate at which organizations and enterprises are transforming globally, CMA career opportunities are the driving force in all economic activities and provide guidance to support the expanding industrialization and global trade, the member of institute (IMA) are respectfully known in the country for providing their core field. i.e. Management services and also for a statutory role.

There are several advantages available for CMA certified professionals. By observing the growth and government policies this course is having a huge prospect in India because of the following reasons.

  1. There is good growth in manufacturing industries.
  2. Management consulting expertise is required for companies to run the same in a cost-effective manner.
  3. CMA has more prospects in the market for state manufacturing industries in India which are booming and want qualified CMA’s to run their accounts.
  4. CA might be enough, still, they are not equipped with the knowledge to handle accounts of manufacturing industries.

What are the CMA job opportunities?

Accounting is the field that always remains in demand as it is the backbone of every business entity. A profession in accounting is one of the top career choices marked by the students of India. Numerous options available for the candidates seeking a career in accounting.

There are many job opportunities available for those who want to perceive their career in accounting and they are:

  • Forensic Accountant: Forensic accounting is one of the most in-demand specialties in accounting. The median salary for a mid-career forensic accountant is around $79,000.
  • Financial Analyst: Financial Statement Analysis, Corporate Finance, Decision Analysis, Risk Management, Investment Decisions, Professional Ethics.
  • Management Accountant: Both public and private entities need management accountants across the world, making this a high demand field with a pay scale of around $63,000.
  • Cost Estimator:This is another highly technical career that requires a lot of specialized knowledge, bringing together accounting along with urban planning. The median remuneration is around $59,000 for cost estimators
  • Assistant Controller: An assistant controller will need to be familiar with the company’s practices and procedures, and be able to draw on a number of years of experience to make decisions. The median earning is around $71,160.
  • Compliance Manager: The manager will work directly with the members of the compliance team, reporting to the Compliance Officer on the progress of the team toward implementing compliance policies. The median annual income is around $65,800.
  • Auditor: Auditors working for a corporation may be independent contracts or work in the corporation’s accounting department to keep records clean and lite. The median pay is $54,670.
  • Government Accountant: The government needs accountants for much more than the IRS or Treasury departments, every agency needs accountants to keep track of budgets and spending. The median wage is $50,425.

Does accounting have good future?

Accounting or accountancy is the measurement, processing, and communication of financial and non-financial information about economic entities such as businesses and corporations. Accounting, which has been called the "language of business”, measures the results of an organization's economic activities and conveys this information to a variety of users, including investors, creditors, management, and regulators Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used as synonyms.

The job prospects in accounting are projected to grow in the coming years. As long as people need help with taxes and as long as businesses exist, there will be a need for accountants. The Bureau of Labor Statistics (BLS) projects that employment in the accounting field will grow 10 percent from 2016 to 2026. Mar 18, 2019.

Undoubtedly, CMA certification can brighten up your future in the accounting field. Yet, you can choose the most suitable one which interests you the most. Contact us to know the scope of CMA USA has got for the students of India in detail.


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