CA vs CMA- Know Which is a Better Career Option?
Have you ever earned something without you having to work for it? No, Nothing worth having comes easy , the quote ideally fits in this competition era as everything you acquire is through a competition. Truth be told, competition in the market is increasing dramatically where the difficulty level of the examinations are also reaching the zenith. Knowing this fact, have you ever questioned yourself that which entrance examination will be the toughest in India?
As a quick review to your question, conducted by Institute of Chartered Accountants of India, the three-level CA-Chartered Accountancy Exam is one of the toughest to crack in the world. The exams first level is Common Proficiency Test (CPT) followed by the Integrated Professional Competence Course (IPCC). It s true that this exam demands a lot of self-study with immense practices, yet effective preparation from your instructor is very much crucial. Job Market: Chartered Accountant The job demand for qualified chartered accountancy in the job market is rising day by day but apparently, the passing ratio of the exam is still less than 5 percent. CA exam is the third and final round where a candidate fuses all their blood and sweat together to crack this round. Bangalore: Target Destination for CA Coaching The Silicon valley of India ; Bangalore is one of the most favourable cities for the best CA coaching institutions and tutors. As we all know that, Karnataka state is the target destination for higher study in our country as approx. 1.8 lakh students from all over the world come to pursue higher education. On the other hand, students from diverse part of the country reach this IT hub of India with an end goal to attain CA courses; the India s most profitable and dynamic profession. The cities most esteemed CA coaching centres (maximum number) are located in Malleshwaram, Indiranagar, and Kormangala.
CA Coaching Centres, Malleshwaram One of the oldest localities in Bangalore, Malleshwaram is not only rich in social and cultural heritage but it is one of the most famous educational hubs in the city. Simply, it s a one-stop educational locale for millions of student. Personified with its nature, Malleshwaram enclosed a countless number of Coaching Centre and its one of the most searched destination for CA coaching by students. Here is the list of few institutions or coaching centre: BRICS ACADEMY, Brics, Ant, Sanjay Saraf Educational Institute, Samvit Academy, Gurbani Institute for Financial Engineers, Tapasya for ca and many more.
About Certified Management Accountant (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. There are many professional bodies globally that have management accounting professional qualifications. The main bodies that offer the CMA certification are:
- Institute of Management Accountants USA;
- Institute of Certified Management Accountants (Australia); and
- Certified Management Accountants of Canada.
Since the Canadian body merged with the CPA Canada in September 2015, there are only 2 global bodies that offer the CMA certification, IMA (USA) and ICMA (Australia). However, the certification pathways for the two bodies – in terms of entry requirements, study syllabi and experience requirements are very different and will be explored next.
The U.S. based Institute of Management Accountants USA is one of the two global bodies that offers the CMA Certification. Only authorized partners of IMA can provide coaching to students for CMA USA.[2] CMA (USA)-certified professionals work inside organizations of all sizes, industries, and types, including manufacturing and services, public and private enterprises, not-for-profit organizations, academic institutions, Government entities (USA), and multinational corporations worldwide. To date, there are more than 40,000 active CMAs with more than 80,000 candidates in the current pipeline.[3] To obtain certification, candidates must pass a rigorous exam, meet an educational requirement, experience requirement, and demonstrate a commitment to continuous learning through continuing professional education (CPE)
The Institute of Certified Management Accountants (ICMA) is an Australian organization operating globally, focused on management accounting. A management accountant applies his or her professional knowledge and skill in the preparation and presentation of financial and other decision-oriented information in such a way as to assist management in the formulation of policies and in the planning and control of the operation of the undertaking.
Management Accountants therefore are seen as the “value-creators” amongst the accountants. They are much more interested in forward looking and taking decisions that will affect the future of the organization, than in the historical recording and compliance (scorekeeping) aspects of the profession. Management accounting knowledge and experience can therefore be obtained from varied fields and functions within an organization, such as information management, treasury, efficiency auditing, marketing, valuation, pricing, logistics, etc.