CMA

CMA US Training in Kolkata: The US Certified Management Accountant (CMA) or US 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. The CMA is a US based, globally recognized certification offered by the Institute of Management Accountants (IMA US).

For those looking to work in the field of management accounting, the Certified Management Accounting (CMA US) course is an excellent option. Professionals with CMA US credentials are in high demand in metropolis cities such as Delhi, Kolkata, Bangalore, Pune, and Mumbai. Among all the metropolis cities, CMA US in Kolkata is gaining popularity among the finance aspirants.

Eligibility: The candidate must be a graduate in any field in order to obtain certification. An experience of at least two years in the field of Accounting & Finance will be an added advantage. Even a fresher can apply for CMA US exam.

CMA US Syllabus: The CMA USA syllabus gives students a comprehensive understanding of finance that enables them to master the day-to-day financial operations of an organization. Candidates who take this course will build their technical and managerial skills, preparing them for a more strategic role. The following table lists the subjects that candidates will learn in this course:

CMA USA Part 1	CMA USA Part 2
External Financial Reporting Decisions – 15%	Financial Statement Analysis – 20%
Planning, Budgeting, and Forecasting – 20%	Corporate Finance – 20%
Performance Management – 20%	Decision Analysis – 25%
Cost Management – 15%	Risk Management – 10%
Internal Controls – 15%	Investment Decisions – 10%
Technology and Analytics – 15%	Professional Ethics – 15%

CMA US Coaching in Kolkata: The job market is very competitive for CMAs. CMA US is in high demand and is paid a premium by companies. Thus, CMA US training in Kolkata is becoming increasingly popular among finance students. The city has steadily developed as a leader in finance and accounting in recent years.

The city houses several prestigious accounting firms, including KPMG, EY, Deloitte, and PwC. Whether you live in Kolkata or another city, you are still able to obtain this certification by enrolling in the right and recognized US CMA Institutes.

Uplift Pro is one of the top CMA US training institutes in Kolkata. Uplift Pro is an approved provider of Institute of Management of Accountants, IMA US. Uplift Pro conducts training for courses like CMA US, CPA US, CIA US and Enrolled Agent. 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.

For CMA US classes contact Uplift Pro: +91-8787088850 or mail us: info@upliftprofessionals.in.

ACCA stands for Association of Certified Chartered Accountant is a Chartered Accountant degree which is given by Association of Chartered Accountant with headquarters situated in London. The role of work is related to inspection of accounting services to the public, private entities. CMA stands for Certified Management Accountant and the degree is provided by the Institute of Management Accountants (IMA), USA. The field of work is related to management accounting services with strategic financial management decision making and planning for the companies like small and mid-size firms and MNCs including the big 4s. If the pertinent question arises which course, are you planning to do further, ACCA certification or CMA US exam? Will you be aiming to do both in the future? If you are confused about your plans just have a look in this article.

What is ACCA?

The ACCA or the Association of Chartered Certified Accountants is a body that recognizes the qualification of a CA. ACCA is a global body based in Glasgow UK which works in the interest of the public to ensure that the chartered accountants work according to the principles-based and ensures that the regulations set are properly followed. The ACCA offers the certification in chartered accountancy and the exam known as ACCA is most recognized in the commonwealth countries. The degree was given with the intention to give protection. The ACCA Exam consists of 14 papers and emphasis is given on the core values of integrity, accountability, diversity, and innovations, etc. The degree is accepted globally across 180 countries. The degree has its own reputation of one hundred years and the professionals have provided services to more than 7500 employers across a different field. The 3 important steps of ACCA are applied knowledge (Diploma), Applied Skills (Advance Diploma) and essentials. Both ACCA vs CPA are highly qualified accounting courses designed for professionals who are interested in making a career in Accounting, Taxation, Auditing, and Finance.

What is CMA US?

The US CMA course or certification is offered by IMA® (Institute of Management Accountants) of USA, which is the worldwide association of accountants and financial professionals in business. It was founded in 1919, having 90,000+ members and global reach of 140 countries through 300 professional and student chapters. CMA® (Certified Management Accountant) certification has been the global benchmark for management accountants and financial professionals.

You can now get a professional certification from the USA within 12 – 18 months. The CMA certification is well recognized by all the MNCs, Big 4 audit firms, US Banks, Consulting firms and other BFSI companies having offices in India. This certification from IMA® (Institute of Management Accountants) is on par with the Indian CMA by most employers. CMA certified professionals are observed to get a career and earnings premium. In the US, median total compensation is 28% higher for CMAs over non certified peers. Globally, it is 50% higher. The US CMA certification is more attentively focused in the area of management and cost accounting.

A CMA certification aspirant is more likely to investigate, analyze, risk management and performance management and can work in various capacities ranging from financial analyst to CFO, and very often necessitate formulating major financial decisions for an organization. CMA US is a 2-part online exam where graduation is the academic criterion to take the exam. With dedicated study and quality assistance, the 2-part exam can be cleared in approx. 9 months on average.

CMA US vs ACCA: Application & Qualification

The most significant differences between ACCA and CMA are in the qualifications and the application processes.

CMA US

Steps To Become A CMA USA:

1. Foundational knowledge of economics, basic statistics, and financial accounting

2. Pass both CMA exam parts

3. Bachelor’s degree from an accredited college or university

4. Any major, no course distribution requirements

5. Most CMA candidates hold a degree in accounting or finance

6. May be earned within 7 years of passing CMA exam parts

7. Two years of professional work experience

8. May be fulfilled within 7 years of passing CMA exam parts

9. Active membership in IMA

Requirements to maintain CMA certification:

1. 30 hours of CPE annually

2. CPE must include 2 hours of ethics training

3. Maintain active IMA membership

ACCA

The ACCA entry level is much lower than the CMA. Plus, the ACCA has two entry points depending on your education and experience. The ACCA labels these levels as “ACCA Foundations in Accountancy” and the “ACCA Qualification” level. The foundation level is for people who are new to accountancy and do not have an education threshold. It is also the best place to start for people working in finance but who don’t have adequate education levels or qualifications to apply for higher-level positions.

The exams at the Foundations level test your understanding of basic accounting principles. Basically, the ACCA feels that you should have mastered these topics before going for the ACCA Qualification exams. If you have more experience and/or education, you can start at the ACCA Qualification level. The ACCA’s exact requirements state that you can begin at this level “as long as you have 3 GCSEs and 2 A Levels in 5 separate subjects including Maths and English.” Basically, this means you need a bachelor’s or master’s degree.

However, if you only have a high school diploma, you can begin the ACCA Qualification exams if you pass the ACCA Advanced Placement Examination. This test analyses your proficiency in the material that appears in the ACCA Foundations of Accountancy program. In addition to passing all papers for the ACCA Qualification, candidates must also take the Ethics and Professional Skills module. Additionally, they need to gain 3 years of appropriate work experience before calling themselves ACCA-certified.

ACCA versus CMA US: Exam Content and Format

ACCA

The ACCA Qualification has several smaller exams to pass, called “papers.” The ACCA exam is divided into 13 papers as follows:

Applied Knowledge:

• Accountant in Business
• Management Accounting
• Financial Accounting

Applied Skills:

• Corporate and Business Law
• Performance Management
• Taxation
• Financial Reporting
• Audit and Assurance
• Financial Management
• Strategic Professional – Essentials
• Strategic Business Leader
• Strategic Business Reporting

Strategic Professional – Options (complete 2):

• Advanced Financial Management
• Advanced Performance Management
• Advanced Taxation
• Advanced Audit and Assurance

Candidates can apply to waive some papers based on their education levels. Or, they can take the “Certified Accounting Technician Qualification” assessment to waive some papers according to practical experience. However, please note that you can only receive a maximum of nine exemptions for the Applied Knowledge and Applied Skills papers. Plus, you cannot receive any exemptions for the Strategic Professional portions. So, all candidates must sit for those papers. If you think you might qualify for any exemptions, you can use this tool from ACCA Global to find out. Some—but not all—papers are computerized. Furthermore, the exam is offered four times a year at more than 500 testing centers worldwide.

CMA US

The IMA breaks it down like this:

Part 1: Financial Planning, Performance, and Analytics

15% External Financial Reporting Decisions

20% Planning, Budgeting, and Forecasting

20% Performance Management

15% Cost Management

15% Internal Controls

15% Technology and Analytics

Many candidates find Part 1 to be more difficult since it covers more topics and a wider array of subject matter. You can read more about CMA Exam Part 2 difficulty compared to Part 1 if you want to learn more. In general, Part 2 has fewer subjects and units, so many people do consider it easier. Personally, I was more frustrated with Part 2. It seems easier when you look at it, but the questions were not as straightforward as Part 1.

Part 2: Strategic Financial Management

20% Financial Statement Analysis

20% Corporate Finance

25% Decision Analysis

10% Risk Management

10% Investment Decisions

15% Professional Ethics

You will have an average of 12-18 months to complete each part, with 3 years to complete both. Many people sit for the exams in order, taking Part 1 first since it seems the most logical. However, some people think Part 2 will be easier for them, so they register to take it first and get it out of the way. The choice is yours. If you want to review the material a bit more and then decide, that is one option.

• Each exam part is four hours in length
• 100 multiple choice questions, followed by two 30-minute essay scenarios
• Exam administered at Prometric testing facilities across India

ACCA Vs CMA US: How Much Time You Need To Pass?

ACCA

Given the number of papers to pass, candidates generally need 3 to 4 years to complete all papers and become ACCA members. Candidates can sit for the papers during four exam sessions held each year. However, candidates can only take four exams per session and a max of eight papers in a year. So, in theory, you could pass all papers in 2 years. But because of logistics issues, most need 3-4 years. Plus, candidates need 3 years of work experience before receiving their ACCA credentials.

CMA US

Most candidates aim to pass the CMA exam within 6 to 9 months. Both the exam parts are independent, so one can take either the 1st or 2nd part as per will. After all, once candidates pass the first of their 2 CMA Exam sections, they must pass the other one within 3 years of registration with the IMA.

CMA US vs ACCA: Which is Easier?

What test is tougher – ACCA or CMA US? Honestly, that depends on what you consider to be tough. Is ACCA harder than the CMA? In some ways, yes. But in other ways, no. Deciding which one is tough – US CMA or ACCA – there are several factors to consider. First, the US CMA has fewer sections (2 exam sections vs 13 papers for the ACCA Qualification). However, the pass rate of both hovers around 50-55% on average.

ACCA Program vs CMA: Summary

ACCA

• Recognized in UK and commonwealth countries
• Low entry barrier: post-secondary education needed
• Exam only offered 4 times a year
• 500+ testing centers across the globe
• 13 papers
• 3-4 years to complete

CMA US

• Recognized in the US and anywhere with US regional offices
• Recognized in about 144 countries globally including India
• Middle entry barrier: Graduation
• Exams offered in 4 windows annually
• Maximum 1-2 years to complete
• Exam sites in the US + multiple other countries including India

Summing up, Coming to that inherent question, ACCA vs CMA US… Which One Should I opt for? the US CMA is arguably the easier having less duration and being considered as a prestigious management accounting qualification. The CMA US Exam itself has fewer parts than the ACCA — only 2 exam parts compared to 14 papers for the ACCA. Comparatively, CMA US has wider acceptance globally while ACCA is although globally recognized, it is not as highly regarded outside the UK and Commonwealth countries. Cost wise, US CMA is cheaper than pursuing ACCA course.

Furthermore, in CMA US, for college students IMA has provision to offer scholarship which allow complete waiver in all IMA fees. If you want to work in the auditing domain relying on IFRS system, you can opt for ACCA but if your inclination is towards management accounting and want to a part of financial decision-making strategic business development, thus, want a job in MNCs on US GAAP system, US CMA should be your cup of tea.

Salient Features of the US CMA Course:

The US CMA course is a worldwide demanded qualification in Finance.

The US CMA course has just 2 parts.

US CMA exams can be cleared in 7 to 9 months’ time.

Exams are conducted online at the prometric centers.

Typically, the US CMA exams have 75% of the questions as MCQs (objective type) and the rest are Essay questions.

Pass percentage of US CMA courses is globally near-about 50%, Uplift Pro has a pass percentage of more than 70%. We are one the smartest US CMA institutes in India.

Along with providing CMA Study Support, we uplift the soft skills of our students, if required, and help them in getting placed in leading companies in and outside India.

The US CMA course helps professionals to build a career across the globe.

Uplift Pro is a valued CMA study center recognized by the IMA US and Gleim Accounting for training students for the US CMA course. Students of Uplift Pro enjoy special discounts in IMA fees.

A US CMA is respected worldwide to be the decision maker in the industry and formulate robust finance and accounting strategies.

Uplift Pro’s US CMA live online classes are scheduled and designed in such a way you can avail them from your home computer after your regular working hours.

Uplift Pro provides a “Till you pass” guarantee to every student which means once you become our student you may attend our live online classes at no extra cost until you pass.

In case you miss a class, you get the recording of it the very next morning.

You get 1:1 personal support from our experienced CMA certified faculties in class and out of the class in dedicated WhatsApp study groups.

For Further Information/Assistance, contact:

www.upliftprofessionals.in

By now, we entered the hall of the post-pandemic era, we have learned that to survive and excel in the accounting job market, we need special knowledge and upgraded skill sets with a positive attitude to learning as a continuous process. It is not about just handling the money matters, rather to make yourself future proof against the robotic uprising in the accounting arena of corporate sectors.

Hence, the challenge lies in the transformation from everyday accountant to exceptional accountant as per the demand of the industry. According to Helen Brand, chief executive of the Association of Chartered Certified Accountants (ACCA), “To succeed as a professional accountant…a vastly different set of skills is required than was necessary just 10 short years ago.

And in the next decade, things are likely to change even faster and more dramatically as the global economy continues to evolve at an ever-quickening pace.” Let’s look into the need and required skill sets for new age accountants.

The Entry Level Accounting Jobs

1. Junior accounting associate

2. Staff accountant

3. Tax accountant

4. Audit associate

5. Accounts receivable/accounts payable clerk

Skills Required to be a Successful Accountant

The technological advancement like in other fields have also penetrated the accounting domain and have changed the scenario a lot which have not been foreseen in the past. Taking the above cues, the present-day accountants need to show their proficiency in the following areas.

1. Communication

No doubt at any stage of career including accounting job, this is the basic skill required to bring clarity in explaining different financial situations to co workers and clients with superior clarity.

2. Evaluative Thinking

This is the skill needed to be seen in a successful accountant, the ability to think critically that help in a quick decision-making process in a highly effective manner.

3. Creative Problem-Solving ability

Today’s firms need accountants who can think of a problem outside the box and solve it with outstanding creativity. This is a continuously evolving process, where the accountant has to be embedded to impress the employer as well as to bring more smoothness in the career path.

4. Project Management

Gone are the days when an accounting job was a solo performance by performing the routine assigned jobs. The present-day mantra is team work. Hence, firms are more interested in hiring accountants who have exposure to project management. Nothing to be worried about. If you don’t have the experience, you can grab it from various learning tools/short term courses on the same at your fingertips.

5. Microsoft Excel

One has to have proficiency in using this particular tool in accounting jobs. If you are not comfortable with pivot tables, VLOOKUPs etc. you have to learn it.

6. Data analysis

Today’s accounting needs handling of large accumulation of data with effective analysis and filtering to make it sensible. Accordingly, the present-day employers need their accountants to provide recommendations supported by analyzed final data itself.

7. Cloud-based Accounting Software

In the metamorphosis of everyday accountant to exceptional accountant, you have to be tech savvy as per the need of the hour. In order to cope with such need for real-time financial reporting, many accounting firms have changed over from conventional to the implementation of cloud-based accounting software. This indicates that as a current day accountant, you need to be comfortable working with programs like QuickBooks, Xero, and FreshBooks etc.

The Way to Learn Accounting Skills on Demand

The on job learning process is the best way in this journey and also a time-tested process. However, for a fresher this is not applicable before joining. So, what to do? An internship or entry level job can provide the learning opportunity. Another good alternative is to obtain a good professional accounting credential like US CMA/CPA/EA etc. before or after entering the accounting job arena. Along with the skill development, build your resume accordingly to get the interview call to finally land up into your desired career path.

A Meaningful Resume

1. Show the Pinnacle of your accounting experience

In this part of your resume, incorporate all relevant accounting experiences including internships. You can link your skills to specific duties you performed or use them to explain how you met certain key performance indicators (KPIs) including your familiarity with accounting software if any.

2. Calibrate your Achievements

Use numbers whenever possible to show your success like you can mention the number of team members you have worked with and your achievements or if you have led a team of interns, mention their number and the success achieved with you.

3. The Key Words

This is a very important part of the resume on which we generally don’t pay much attention. Please keep in mind that today’s employers rely on applicant tracking systems (ATS) to help them filter candidates. To be successfully selected by the ATS, it is suggestive of the use of appropriate relevant keywords throughout the resume in an optimized manner.

Summary

It appears obvious that to meet the demand of the present-day accounting firms, the present-day accountants have to be more tech competent with some special skill sets as mentioned above. One of the finest ways to meet the demand is to go for some professional accounting courses like US CMA /CPA/EA etc. which can be pursued along with the conventional academic curriculum or as early as possible after entering the job to extract maximum benefit.

For Further Information/Assistance, Contact:

www.upliftprofessionals.in

In India and abroad, one of the stable, high salaried future proof jobs belongs to Financial Management which is one of the highest-paid and stable jobs in India where US CMA stands as gold standard. The responsible accounting, which is the pillar of US CMA makes the credential a utility part in management decisions. Companies across the globe hire such qualified and skilled professionals who can effectively contribute to the growth of the organization. With the advent of globalization and open economic growth, India is no exception in this scenario and witnessing enhanced growth and opportunities.

In line with that, so many Indian companies are either started or entering into joint ventures with foreign companies as well as liberalization paved the way for MNCs to launch their anchor in India. As a result, students pursuing or want to pursue US CMA have increasing career opportunities and scope in India as well as abroad too. New employment areas and job roles are expanding in the management accounting domain where US CMA holds a tangible stake in Indian and global perspective. Let’s discuss.

Growth of US CMA-A Global Perspective

As evident from the chart (source: Strategic Finance, August,2014), half of the new CMA candidates came from the Middle East (UAE, Egypt, Saudi Arabia, and Jordan), and almost 1/4 from the Asia Pacific (China and India). The number obviously increased a lot now.

Number of CMA Candidates by Country:

The Fortune 500 companies who Hire US CMA’s

These are the examples and the list is inflating with time:

3M

Alcoa

AT&T

Bank of America

Boeing

Cargill

Caterpillar

ConAgra

Hewlett-Packard

Johnson & Johnson

Microsoft

Procter & Gamble

KeyCorp

Whirlpool

Saudi Aramco

Verizon

Xerox

Earning of US CMA

Region wise Salary and compensation of US CMA:

Region	Mean	Median	Mean	Median	Base Salary	Total Compensation
All Countries	74,344	66,000	95,368	73,000	96%	99%
Americas	109,119	100,000	135,076	110,750	100%	101%
Asia	32,654	22,000	40,354	28,000	73%	85%
Europe	81,403	73,000	88,511	80,000	104%	105%
Middle East/Africa	34,993	23,500	40,722	27,000	87%	92%

(Source: IMA)

Region wise Median Salary of US CMA and Non-CMA

According to a comprehensive study by the IMA, CMA certification holders earn 67% more than their non-certified counterparts. As per the IMA survey, in India, US CMAS earn 136% more than non-CMAs counterparts and the gap is widening.

Job Partners of IMA in India

Leading global companies such as Amazon, Accenture, HPE, Larsen & Toubro, Wipro, and Cyqurex have partnered with IMA to seek talented US CMA holders for internships and job placements within their organizations across India. The list follows:

Amazon

Accenture

Caterpillar

Wipro Enterprises

Larsen & Toubro

Cyqurex

Entigrity

Many more to come…

Summary

US CMA is being considered the “gold standard” of management accounting, in the U.S. and spreading globally. US CMA is the largest in the management accounting domain, next to CIMA, and the most available fastest growing credential across the globe. Coming to the caption question, is CMA US worth pursuing? Considering the above information, the answer is yes particularly when we compare US CMA with other available international professional financial courses with reference to the time required, cost, job prospects and earning potential. US CMA credential can help a commerce graduate to find a suitable job as well as help a professional to get promotions also.

For Further information/assistance, contact : www.upliftprofessionals.in/CMA

Are you a finance professional wondering about the US CMA salary range of an US CMA ? The 2020 IMA Global Salary Survey collected data from over 4,000 IMA members in 80 different countries. This year, 47.6% of the responses come from China, 28.1% from the United States, 4% from the United Arab Emirates, and the remaining 20.3% were split among the remaining 77 countries.

The figure below from IMA represents the median income for countries with at least 1% of survey responses.

Positions held by US CMA/CMA s

Across respondents, all sizes of organizations were represented equally. Respondents from organizations with 99 or fewer employees represent 24.2%, respondents from companies with 100 to 499 employees make up 25.7%, 27.3% are employed with organizations with 500 to 4,999 people, and 22.7% work for companies with 5,000 or more employees.

This reporting shows that US CMA/CMAs are valued for their expertise in any size organization and at every level. Over 70% of respondents agree that achieving the CMA provides them with career opportunities.

US CMA/CMAs ages 20-29 who also hold senior management positions reported earning 100% to 107% more than their uncertified peers in median salary and total compensation, respectively.

This shows that even for younger accountants, the US CMA course/ CMA is a worthy investment that not only increases earnings but provides opportunities for advancement. In fact, of the respondents who hold top management or senior management positions, a majority are CMAs.

US CMA/CMAs are also more likely to hold specific prestigious positions such as CFO, Controller, Director of Financial Planning and Analysis, and Senior Financial Analyst. Over 60% of the respondents who held these positions were CMAs.

Median CMA salary by region

Across all management levels, US CMA salary is more than their peers, especially in senior management positions, where they make as high as 58% more in total compensation.

Gender pay gap among CMAs

In the 2020 IMA Salary Report, 50% of all respondents were women. This is up by 10% compared to the 2019 report, leading to larger variations in the wage gap reported. The Americas remained mostly unchanged with a total salary gap of 86%. The Middle East/Africa/India region (MEAI) had the highest increase at 22%. However, Europe and Asia increased only slightly by 7% and 3%, respectively.

The good news is that younger accountants are continuing to start their careers on relatively equal footing regardless of gender, while the older age groups still show the highest disparities in pay. This is especially true in the MEAI region, where the total compensation for women was actually 62% higher than men in the 20-29 age group, while those ages 40-49 made 59% less than men.

With the recent spike of entry-level women CMAs, we can expect the gender wage gap to slowly decrease as they rise within their respective organizations.

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

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. Comprehensive coverage of US CMA course details including authorizedGLEIM CMA study materials , class mock session,  IMA registration and job assistance.

Request for Live Demo class / contact at +91-8787088850 to book your seats now.