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CMA USA contributes to being a worldwide recognized certification, in which the Institute of Management Accountants is the regulatory body. The duration of the course is shorter, as compared to CMA India.
In addition to this, it is considered to be the perfect combination of finance and business acumen. CMA India, on the other hand, happens to be a popular certification, which is offered by the Institute of Cost Accountants of India. The total duration of time, required for the completion of CMA India is known to be three years.
A most frequently asked question from the students is among CMA USA and CMA India, which is better? While in a bunch of field ranks, CMA USA is believed to have a higher value as compared to CMA India, it would be wrong to say that CMA India is of less value. CMA India is a high-value certification degree and you can reap a plethora of benefits by choosing a CMA India certification degree.
However, CMA USA contributes to being a better and effective value proposition for a plethora of reasons.
You however always need to keep in mind that CMA USA and CMA India is similar, with regards to information and knowledge. There are specific subtle differences between the two which offer an edge to CMA USA certification over CMA India.
The primary difference lies in the way, in which the examination is conducted, and not in the course material.
CMA USA vs CMA India
Duration of Course
One of the primary reasons owing to which CMA USA contributes to being a better value proposition is that the duration of time, for the completion of the course is way lesser. It is possible to accomplish the CMA USA within duration of 6 months to a year. On the other hand, it takes three years for the completion of CMA India.
CMA USA comprises two examinations and the best part is that the candidates can select the time slot when they can appear for the examination. On the other hand, CMA India is tougher, in comparison to CMA India, and the students need to appear for twenty examinations which are found to be staged at 3 different levels.
Candidates who appear for CMA USA should have a working experience of at least two years in the finance and accounting sector. Students, who are going to appear for CMA India, require completing the training period, as an integral part of CMA’s final exam preparation.
In addition to this, if you are planning to pursue CMA USA certification, it is a must to have an undergraduate degree. Students are known to have a bit of freedom in this aspect as they have sufficient time for the completion of the college education and procuring a degree in graduation, within seven years to clear the CMA USA examination.
There is no mandate that a student has to complete their graduation degree during the completion of CMA USA. CMA India does not maintain any strictness about a college degree. Students can opt for the certification degree, even if they do not possess any college degree.
CMA USA is known to be a globally recognized certification course. CMA India, on the other hand, does not have a similar acceptance and is accepted in India only.
GAAP Or Generally accepted accounting principles are the accounting rules and standards, which are known to apply to the sector of financial reporting. CMA USA makes use of IFRS AND US GAAP and it is known to have been accepted as the global standards. The CMA India, on the other hand, practices using the IND AS – Indian GAAP or Indian Accounting Standards which is valid in India only.
As CMA USA is found to be more widely accepted, as compared to CMA India, students completing this degree reap a wide array of benefits, in comparison to those, who have accomplished CMA India. CMA USA Professionals are eligible for working in different sectors, which are related to finance and auditing sectors as well as different accounting positions in the world, without any restriction.
CMA India primarily involves the Indian Accounting system and thus it comes with certain limitations. Also, students who have accomplished CMA India are eligible to work in India as well as for business organizations of India origin.
The difficulty level of the examination
Some people have the notion that it is easier to crack CMA USA, in comparison to CMA India, and certain truth is included in it. For qualifying CMA USA, it is a prerequisite that the student should possess the score of at least 360/500, in each of the tests, individually.
The first part of the examination covers five different topics which include external financial reporting decisions, budgeting and forecasting, performance management and planning, cost management and internal control.
The second part of the examination, on the other hand, includes six different topics such as decision analysis, corporate finance, professional ethics, investment decision, risk management, and financial statement analysis. CMA India is divided into three different levels, which include CMA Final, CMA Inter, and CMA Foundation.
The Foundation level includes four papers which are Fundamentals of Laws and Ethics, Fundamentals of Economics and Management, Fundamentals of Business Mathematics and Statistic, Fundamentals of Accounting.
On the other hand, eight papers are involved in the CMA Inter Level which are Cost Accounting and Financial Management, Company Accountants and Audit, Direct Taxation, Cost and Management Accounting, Indirect Taxation, Financial Accounting, Operation Management Information System, Laws, Ethics and Governance.
CMA in the Final Level includes Financial Analysis and Business Valuation, Cost and Management Audit, Corporate Laws and Compliance, Corporate Laws and Compliance, Corporate Financial Reporting, Business Strategy, and Strategic Cost Management, Advanced Financial Management, Tax Management and Practice, Strategic Performance and Management, Financial Analysis and Business Valuation, Cost and Management Audit, Corporate Laws and Compliance, Corporate Financial Reporting, Business Strategy, and Strategic Cost Management.
If you want to seek employment opportunities on a global level, it is recommended to opt for CMA USA. However, people who are willing to work for Indian companies can pursue CMA India.
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