The Certified Management Accountant (CMA) credential is a highly valued global certification for accountants and financial professionals. Offered by the Institute of Management Accountants (IMA), the CMA qualification focuses on skills in financial planning, analysis, control, and decision support. It provides expertise in management accounting and financial management across various industries.
In India, an increasing number of finance and accounting professionals are pursuing the CMA USA certification to advance their careers. The CMA program is an excellent way to get international accounting recognition while opening doors to enhanced job prospects and higher salaries.
CMA Eligibility and Syllabus
So what is a US CMA Course? The US CMA or Certified Management Accountant course is a prestigious global certification for finance and accounting professionals offered by the Institute of Management Accountants, USA. It focuses on financial planning, analysis, control, and decision support across industries. The CMA program offers knowledge in management accounting as well as corporate finance.
In India, CMA certification requires a bachelor’s degree in any discipline in a recognized college or university. No specified major or subject is required to be entered in the CMA course.
- CMA Part 1 deals with financial planning, performance, and analytics. Syllabus covered outside financial reporting choices, planning, bud ideas and estimation, presentation management , cost administration, and internal controls.
- Strategic financial management is the main topic of CMA Part 2. These include financial statement analysis, corporate finance, decision analysis, risk management, investment decisions and professional ethics.
CMA Course Duration
The CMA is designed as a self-study certification that allows candidates to learn at their own pace. On average, CMA USA course details and duration in India take 12-18 months to complete the CMA program comfortably.
However, many accelerated CMA review courses claim to help clear the exam within 6-12 months. The CMA USA course details and duration in India vary based on the study hours one can devote and one’s proficiency in the subject matter.
After enrolling in the certification, CMA candidates get access to the learning resources for a limited period. They have to appear and pass the CMA exam within three years of entering the CMA program.
CMA Course Fees in India
The CMA USA course details and duration in India unlocks global mobility, enhanced skills and higher designations for accountants. The major CMA costs in India include:
- Registration Fee:
A one-time IMA membership and CMA entrance fee of around ₹12,500. It covers the registration, access to the CMA course materials, online database, and exam voucher.
- Subscription Fee:
An annual IMA membership fee of ₹4,500 is payable every year to maintain your credentials and access continued education.
- CMA Exam Fees:
CMA exam registration fees are around ₹28,000 per part. So candidates pay nearly ₹56,000 for both Part 1 & 2 exams combined.
- Exam Exemption Fees:
Students and graduates from accredited colleges can obtain a few paper exemptions. The exam waiver fees are around ₹3,300 per approved exemption.
- Other Charges:
There can be additional outlays such as CMA test prep fees if enrolling in certification training programs, examination center charges, travel expenses to the test centers, etc.
CMA Exam Pattern
The CMA test is computer-based and administered at proctored test centers across India. Key highlights of the CMA exam format are:
- Objective-type multiple-choice questions
- Essay Questions
- Total 100 questions per section
- 5-6 separate questions based on the content of 2 essays.
- Time limit of 4 hours or 240 minutes per section
- Scheduled in two parts spanning two days
- Candidates have to score at least 360 out of 500 to pass per part
The CMA exams are held for 6-8 days in a quarter, during January/February, May/June, and September/October. Candidates have to reserve a test slot well in advance.
The exam tests a broad range of financial and management accounting proficiencies via multiple-choice questions, essay questions, and scenario analysis modules. New components include 3-4 practical case studies per section assessing real-world decision-making skills. Scheduled across six days every quarter, the exam requires booking slots to attempt the rigorous 4-hour test spanning advanced concepts in management reporting, analysis, control, and ethical compliance.
Career after CMA
The certified management accountant course covers financial analysis and includes budgeting skills. Earning the CMA qualification unlocks a broad spectrum of lucrative finance career opportunities. Certified management accountants can seek jobs like:
- Financial and Cost Analyst
- Budgeting Manager
- Management Consultant
- Financial Planning & Analysis Manager
- Finance Controller
- Chief Financial Officer (CFO)
Certified management accountant salary ranges between ₹8-12 lakhs CTC for entry-level, going up to ₹35 lakhs or more for leadership roles. The high-income potential and versatile finance career paths make the CMA certification a wise investment.
Conclusion
The CMA credential offers excellent ROI for Indian accountants aiming for senior positions and global mobility in corporate finance. While the qualification demands time and effort, it provides critical analytical thinking and decision-making skills for leadership roles. By understanding the CMA USA course details and duration in India, course fees, exam patterns, and career prospects in India, finance professionals can make an informed decision about pursuing this global management accounting certification.
