CMA or Certified Management Accountants courses are a global benchmark for management accountants and financial professionals aspiring to enhance their career possibilities within less than 12 months. Offered by the Institute of Management Accountants (IMA) in around 150 countries, the US CMA course is the highest credential in the field of accounting and management. In India the CMA course is administered by Institute of Cost Accountants of India
Many a time, students have queries regarding CMA India vs CMA USA. From the conducting body to course duration and syllabus, there is indeed a certain difference between CMA India and CMA USA. This is what this blog is all about. Here we have discussed at length about CMA us vs CMA India by focusing on their specifications.
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A Comparative Analysis of CMA India vs CMA USA
Both CMA in India and CMA in USA equip students with all the required knowledge and skills to excel in the field of financial accounting and strategic management. However, both the courses are different from each other in various aspects. The major difference between CMA USA vs CMA India are discussed below:
Regulatory Body
The CMA in the USA is regulated by the Institute of Management Accounts (IMA). It is a forum for education, knowledge sharing, research, and the advocacy of ethics and best business practices in Management Accounting and Finances.
On the other hand, CMA India is regulated by the Institute of Cost Accountants of India (ICWA) with an aim to promote, regulate, and develop expertise in cost accountancy.
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Eligibility Criteria
A class 12th certificate and an undergraduate degree are the two most important US CMA eligibility for Indian students. The IMA has made the provision for undergraduates to have another seven years to produce the documents upon successful acquisition of the CMA USA certificate.
To apply for CMA in India, a class 12th certificate along with 6 months of articleship is enough. But you must have a score of minimum 40% for individual papers and an aggregate of 50% for intermediate groups.
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Course Structure & Syllabus
Another difference between CMA US vs cma India is the course duration, exam structure and their syllabus. CMA in USA can be completed in 6 to 9 months, whereas CMA in India is a 3 year course.
To talk about the US CMA exam pattern, you will be given 4 hours to complete 100 MCQ questions and 30 mins for two essays. Its syllabus is structured on 12 different topics pertaining to 2 parts of the course.
A glimpse of the CMA USA syllabus is given below:
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Financial Planning, Performance and Analytics |
Strategic Financial Management |
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Technology and Analysis Internal Controls Cost Management Performance Management Planning, Budgeting and Forecasting External Financial Reporting Decisions |
Financial Statement Analysis Corporate Finance Decision Analysis Risk Management Investment Decisions Professional Ethics |
For CMA in India, there are 20 subjects and 3 levels. They are as follows:
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Foundation Level |
CMA Intra Level |
CMA Final Level |
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Fundamentals of Accounting Fundamentals of Business Mathematics and Statistics Fundamentals of Economics and Management Fundamentals of Laws and Ethics
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Company Accounts and Audits Cost Accounting and Financial Management Cost and Management Accounting Direct Taxation Financial Accounting Indirect Taxation Laws, Ethics and Governance Operation Management Information System |
Advanced Financial Management Business Strategy and Strategic Cost Management Corporate Financial Reporting Corporate Laws and Compliance Cost and Management Audit Financial Analysis and Business Valuation Strategic Performance Management Tax Management and Practice |
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Recognition
One of the most distinguishing cma usa vs cma india is the recognition that each of them holds. A CMA in USA certificate is recognized and valued all over the world, but this is not the same for India. CMA in India qualification is acceptable only in India. It also restricts the global employment opportunities which is not the case with CMA in USA.
So that was in detail about cma india vs cma usa, which can be summarized as below:
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Particulars |
CMA in USA |
CMA in India |
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Administered By |
Institute of Management Accountants |
Institute of Cost Accountants of India |
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Course Duration |
Maximum 1 year |
3 years |
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Requirements |
Undergraduate degree + Work experience |
10+2 |
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Exam Structure |
2 Parts (1 Level) |
3 Levels – 20 Papers |
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Articleship |
NIL |
6 months |
Which is Better CMA India or CMA USA?
Both CMA in USA and India opens up a range of opportunities for students and existing accounting professionals who want to take their careers to bigger heights. CMA USA does have the advantage of offering the course for a short duration of time, however, CMA in India’s exhaustive syllabus on the other hand add an extra learning element to the course. Hence, both the courses have their own share of perks, and CMA US or CMA India which is better is an open-ended discussion. so choose the one that best suits your career goals.
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So that was all about CMA USA vs CMA India. The certifications of both the courses open up new opportunities in a variety of industries, including banking and financial services, manufacturing, healthcare, insurance, pharmaceuticals and so on. CMA indeed is a compliment to your academic qualification and practical experience.
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