Many students have a general question on the US CMA course and CMA India – which one is better? Professionals with a career aspiration in the accounting field find it as a confusing decision to choose between them. Though both are equally recognized and can help you advance your career, there are few differences between CMA India and US CMA course.
Awarding authority
The US CMA is an internationally accredited certification awarded by the IMA. CMA India is a certification awarded by the Institute of Cost Accountants of India, with article ship training. The US CMA does not recommend article ship training to the students.
CMA USA is globally recognized whereas CMA India is an Indian Certification.
Course duration
The duration of course for the US CMA course is between 7 months to one year whereas CMA India course duration is for four to five years.
US CMA Course format and exam structure
The US CMA focuses on cost Reduction, auditing methodologies in CMA, while the Indian CMA gives more priority on cost controlling.
The US CMA exam has two parts as follows-
a. Part 1 – Financial Planning, Performance, and Analytics
b. Part 2 – Strategic Financial Management
The format for the CMA India has three levels including foundation, intermediate, and final levels. Overall it has nearly 20 exam papers.
Accounting Standards
The Indian CMA is focused on IND AS (Indian GAAP), while the US CMA is based on US GAAP and IFRS.
Pass criteria
The pass criteria for US CMA course is 360 out of 500, and for CMA India is 40% for individual papers and 50% aggregate in each group. Adding to that the pass percentage in the US CMA course is 50% globally, whereas the pass percentage in Indian CMA is only 3 to 10%.
Key takeaways
Based on the analysis above, the clear winner is the US CMA course, which is considered as the highest level of certification in management. Further, the awarding authority is IMA (Institute of Management Accountants) USA which gives more course credibility to the students.
It is also seen that Indian CMA has more exams than US CMA, 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.
Another key advantage for US CMA is that, being a global recognition it takes only less than 1 year to get certified and ideal for students planning to work abroad or an international company.
CMA least affected by COVID-19
As per the latest Middle East/Africa/ India (MEAI) CMA Salary Survey 2021, from IMA (Institute of Management Accountants) it was found that CMAs were least impacted by COVID -19. Analysis showed that CMAs were less impacted in their jobs than compared to non-CMAs. Further, 43% of respondents said that their salary was not impacted by the COVID pandemic, while 3% indicated their compensation increased.
It was noted that 30% of respondents indicated that their salary decreased due to pandemic, while 19% received a lower or no bonus due to the pandemic.
Choose the best US CMA institute in India, Africa, and Middle East – Uplift Pro
Uplift Pro is one of the top training institutes for the US CPA, US CMA, US CIA courses in India, Africa, and Middle East. Uplift Pro is also an Indian partner of GLEIM, US and an IMA US authorized CMA US study center. Our team consists of seasoned professionals and entrepreneurs from IIEST, IITs, London Business School, and ULCA who have decided to provide a strong back to young ambitious students and professionals to reach their desired career destinations in an organized way.
Some of our exclusive features include.
A. Authorized partner of IMA US CMA course in India
B. Live online classes ensuring that the regular office working hours is least impacted
C. 1:1 personal support from our 30 plus years of experienced CMA certified faculties. We have a pass rate of 80% in US CMA course exams
D. Affordable US CMA course fees with special discount in your IMA fees.
E. “Till you pass” guarantee assuring that you may attend our live online classes at no extra cost until you pass
F. Unique “BUDDY MENTOR CONCEPT” which immensely helps students in their exam preparation along with the regular mock tests for evaluation. This helps a lot to say “Pass At First Attempt”.
G. Comprehensive coverage of US CMA course details including authorized GLEIM CMA study materials , class mock session, IMA registration and job assistance.
