Every year, a large number of Indians look for information on the CMA certification, so we’d like to address their concerns in this essay. Let Simandhar Education walk you through some information concerning the CMA international certification, the application process, and exam recommendations if you’re interested in earning the US CMA in India.
CMA stands for Certified Management Accountant. The CMA course in the United States is a globally recognized degree that is highly valuable in a market like India, where much offshore is going on. We have a lot of US corporations in India that are investing and recruiting accountants who are familiar with US GAAP and IFRS.
Structure of the CMA Exam and the Years Required to Earn the Title:
The minimum theoretical time required for the ICWAI and CA (including article ship) courses is two years and four years, respectively, providing that the applicant passes the first time. US CMA course takes 8–9 months to complete, and there are only two exams to pass, as opposed to 17–18 exams in Indian courses.
CMAs in India earn more than non-CMA certified colleagues, according to the IMA Global Salary Survey of 2020.
Indian IMA members work a lot harder than other members throughout the world, putting in an average of 45.5 hours each week. This figure is tied with Jordan and is second only to the United States (46.3). Members of the Indian IMA are also well educated. All 52 Indian respondents have earned a bachelor’s degree, and 63 percent have earned a master’s degree.
Salary of CMAs vs. Non-CMAs in Asia
According to one of the most significant conclusions from the salary study, the CMA substantially impacts compensation in India. CMAs in India earn 136 percent more in total compensation than non-CMAs, and this gap has grown steadily and dramatically over time.
Additional professional options and routes are among the CMA perks received by IMA members in India. Almost 65 percent of Indian CMAs stated the CMA certification broadened their professional opportunities, and 90 percent said it improved their ability to move across industries.
Format of the CMA Exam-
The CMA exam is divided into two parts, each with 100 multiple-choice questions and two essay situations. You have four hours to complete each portion of the test. Within the testing periods, which span six of the 12 months each year, you can take the exam on any weekday.
CMA Exam Parts:
Part 1: Financial Reporting, Performance, Planning, and Control
Part 2: Financial Decision Making
Exam Passing Rates for CMAs:
Part 1 of the CMA test has a success percentage of 40%, whereas Part 2 has a pass rate of 50%.
Although specific passing numbers for India are unknown, our data indicate that Asian applicants pass at a higher percentage than the average. The Americas and Europe, on the other hand, had the most incredible passing rates. How can you reach the same level of success on the CMA exam? We have a couple of ideas about how to complete the assignment.
How to Increase Your CMA Exam Passing Chances:
While Indians have a strong knowledge of English, their writing style differs from Americans’, so you should practice writing essays in standard English. Here are some CMA test essay tips that will specifically benefit overseas candidates.
Choosing the best institute: Simandhar Education believes in instilling knowledge and developing students ready for the corporate sector. The institution offers high-quality instruction in a variety of subjects. Practical knowledge is emphasized. They have an extensive network of world-class trainers, teachers, and industry specialists, and all Simandhar teachers are CPA, CMA, and rank holders. We also give students with guaranteed placement assistance and personal grooming sessions in preparation for interviews.
Future in CMA-
CMA professionals have a bright future ahead of them at many prominent global corporations across the world. In India, the majority of multinational firms are willing to hire CMAs for corporate finance positions.
Some of the opportunities are-
Finance Manager: As a Finance Manager, you will be in charge of all operational decisions. You’ll be in the order of forecasting and budgeting as a finance manager, among other things.
Financial Analysts: The job title “financial analyst” is self-explanatory. This position requires the accurate tracking of financial records, the compilation of reports, and the analysis of results. Based on the research and information, a financial analyst must offer measures to improve the company’s productivity.
Finance Controller: This role, in some ways, incorporates all facets of finance. You must know everything there is to know about finance and serve as the department’s financial lifeline.
Chief Financial Officer: The position of Chief Financial Officer, or CFO, is the highest in the financial business. Because qualified management accountants have such a significant impact on the company, it’s one of the most appealing jobs.
Hope you found this helpful, and surely, you’ll obtain your CMA in India; best of luck on the exam!