Best Alternative Courses for ICWAI-CMA Final
Best Alternative Courses for ICWAI-CMA Final – In this article you can know about the Best Alternative Courses that you can study along with CMA Final or uniquely after CMA Inter to build a better career.
Best Alternative Courses for ICWAI-CMA Final
Know about some of the very important courses that a CMA Final student can study along with CMA Course. The clear details about this concept can be available from below.
Best Alternative Courses for CMA Final
If it is getting tough to qualify CMA Final, you can also consider the following courses to study:
Career After CMA intermediate but in CMA Final
Here are some of the very best options for Career after CMA intermediate:
There are many courses available which you can pursue with CMA. However the choice and decision depends upon many factors like interest, duration, cost, time, devotion etc. depending upon your circumstances.
Career After CMA intermediate Some of them are –
- CS, ICWA, CFA , CA. these are Long term duration with more than 3 years.
- CPA, CFP, CIA, CISA atc. are medium term duration depending upon the devotion and your level of knowledge.
- Further there are many certification Programmes like, CIFRS, NCFM, CMA (USA) etc.
Select the depending upon your field of interest and personal circumstances.
The combination of CA+CFA is good in case the interest is for Investment banking and Portfolio Management.
The combination of CA+CPA is good , in case interest is in Accounting and Auditing field.
The Combination of CA+CS is also good.
The combination of CA+CS is helpful in long run to grab top opportunities at management level. CS is a very good combination with CA as far as course content and understanding the corporate environment is concerned.
If you are having CS qualification then you can easily and confidently handle or administer secretarial work/department along with the account work/financeare some of the suggestible options for Career After CMA intermediate
Also focus on the opinion below:
In today’s time, simply ICAI membership only is not enough. To improve the chances of getting quick job after receiving ICAI membership following practical things are necessary to be considered:
Career After CMA intermediate-added advantageous course:
1. More than basic understanding of accounting.
2. Good knowledge of ERP, Tally, SAP, IFRS, MIS working environment.
3. Understanding of working as a finance part.
4. Good and practical knowledge of Taxation.
Best Alternative Courses for ICWAI-CMA Final | Career In ICWA & Cost Accounting
“There are plenty of employment opportunities are available for the ICWA qualified people. Once you have completed the ICWA course, you can start up your career as a Cost Accountant”.
ICWA degree holders are highly demanded in the government sector, private enterprises, development agencies, banking & finance sector, education and training sectors. With the advancement of the economy, demands for cost and management professionals are rising rapidly.
Duties of a Cost Management Accountant:
- Plan, study and collect data to determine the costs of business activities.
- Analyze financial information and prepare reports accordingly.
- To work with computer technology related to accounting.
- To give advice to managerial staff about revenues and costs.
- Implement cost accounting strategies to increase a company business.
- To maintain cost accounting system.
Some popular areas where you can find jobs are consultancy firms, developmental agencies, departments of company affairs, training & research organizations, service industry, stock exchanges, public utility sector and other regulatory bodies.
- Finance Director
- Managing Director
- Associate Professor
- Cost Controller
- Chief Auditor
- Cost Accountant
- Chief Accountant
- Chief Internal Auditor
- Financial Consultant
- Managing Director
- Financial Controller
Some Recruiters are:
- Micro Inks Limited
- Inext Infotech Services
- Zexus Air Services Pvt Ltd
- Government and Private Institutions
- ALTRET Industries Pvt. Ltd.
“This is a field which provides satisfaction in terms of position as well as salary for successful candidates.”
In India, you can expect a starting salary between Rs.3 to 4 lacs per annum. Your salaries will also depend upon your working job profile, sector and experience in this field.
In abroad (USA), the average salary of a Cost Accountant is around $53k per annum.
“With good qualifications and experience, the pay packages offered to Cost Accountant are beyond the limits”.
Best Alternative Courses for ICWAI-CMA Final | Career opportunities for CMA professionals
There are few pre-requisites before you choose another alternative. No, these are not the requirements for applying for that particular course, rather basic, general, and foundational requirements without which you really won’t be able to succeed in this field.
The first requirement is being passionate about accounting. If you love accounting and don’t find it boring like others, this is for you. Second thing you need to consider is that you already are in accounting/finance profession or want to be in, in near future; otherwise this course has little or no value for you. The last, but not the least requirement is you need to be through with the global accounting standards. If these three ring true for you, you fit the bill perfectly.
In this career guide, you would get to know how you can become a CMA; where you should start your preparation; how to get placed after completion of your course; world-class companies which offer jobs for CMAs; specific skill sets required for excelling in the field of CMA; the honorarium offered for the job you do after having the degree of CMA; lastly any higher educational opportunities (if any) are there or not.
How to get recruited after having the degree?
Best Alternative Courses for ICWAI-CMA Final – CMA is not a separate course. If you are already attached with accounting profession, this is the course for you. If you are yet to start your professional career in accounting and after having Bachelor degree you are giving it a try, then you would get a very good job in a top-notch corporate, specifically a financial giant company to start with. But it is always better to start off your career with a middle level company which has enough experience to teach you and enough bandwidth to grow further in the market.
The best part of CMA is you just need to have a Bachelor degree in any field from a recognized university from anywhere in the world. So, if you are considering for further education after your Bachelor degree, CMA might be a viable option. But be ready for it. You need to put in a lot of hard work in order to make your mark in this field.
Specific skill sets required for excelling in the field of CMA
- There are few specific skills which are required for doing extra-ordinarily well in this field.
- A meticulous approach to understand and examine financial reports
- An ability to make tough decisions
- An eye for detail
- Mind-set for analysis and a strong bend for mathematics and logical reasoning
- Ability to put in extra hours even after doing a job
- A basic foundation in accounting and know-how in Global Accounting Standards
CMA is one of the most prestigious courses in the world. For having this degree you not only need to clear the two part exam, you also need to have two years financial experience after clearing the exam. Thus, if you are wondering about the honorarium, it is quite good because it is also one of the toughest exams in the world. If you can get through, your salary would triple or quadruple within a year or two.
If you are pursuing this after graduation, you would get much better salary than an ordinary Accounting Graduate.
Best Alternative Courses for ICWAI-CMA Final | Higher educational opportunities
There is no end to learning. You can always learn more, learn better. But if you have completed CMA, then sky is the limit. You can go in depth of every subject that you study and if you would like to continue your studies further you may consider a CFA (US) or a reputed MBA (Finance) from a top-notch university in the world.
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