CMA US AND CMA UK Overview AND Comparison

CMA US AND CMA UK Overview AND Comparison:-

US CMA demonstrates your professional expertise in financial planning, analysis, control, decision support, and professional ethics – making you the preferred choice of the potential employers. CMA certification is widely accepted in India and in the job markets of US, Canada, Europe, Middle East and China.

CMA US AND CMA UK Overview AND Comparison

About US CMA Course:-

The US CMA® Course is globally recognised, advanced-level credential appropriate for accountants and financial professionals in business. Achieving the US CMA demonstrates your professional expertise in financial planning, analysis, control, decision support, and professional
ethics – skills that are in demand by organisations around the world. The US CMA is offered by the Institute of Management Accountants (IMA) USA and the content is regularly reviewed by the Institute of Certified Management Accountants (ICMA).

It’s offered since 1972 and has certified 40,000 professionals. US CMA® enhances the value that you bring to your current position, or expand your career potential, it will help you set the standard for professional excellence.

The CMA Exam has a unique scoring system that can sometimes be confusing for candidates. Here’s everything you need to know to correctly interpret your CMA Exam score.

The CMA or Certified Management Accountant is a globally recognized certified program offered by the U.S based Institute of Management Accountants. This certificate is a great attribution for management professionals who are looking to advance their knowledge and skills in the financial management fields. The course equips a professional with skills in the area of financial planning, analysis, control, decision support, and professional ethics. A CMA-certified professional can avail the opportunity of working in different sectors in the management capacity. They can work in industries and organizations which include manufacturing and services, public and private enterprises, non-profit organizations, academic institutions, government entities and multinational corporations.

CMA US AND CMA UK Overview AND Comparison

About UK CMA Course:-

The Chartered Institute of Management Accountants (CIMA) is the world’s largest and leading professional body of management accountants. Through our partnership with the American Institute of Certified Public Accountants (AICPA) we support and give voice to 150,000 Chartered Global Management Accountants (CGMAs) across the globe.

CIMA helps individuals and businesses to succeed by harnessing the full power of management accounting – not just accounting for the balance sheet, but accounting for business. The CIMA syllabus draws on the unique CGMA Global Management Accounting Principles© and CGMA Competency Framework to equip individuals with high-level abilities to help them achieve sustainable success in both business and finance.

CMA exam and CIMA certification hold such lucrative opportunities for management professionals abroad that often it leaves many confused what to pursue. We help you understand the differences because we understand how difficult it is to build a career as a management professional.

CMA US AND CMA UK Overview AND Comparison

The Chartered Institute of Management Accountants, a UK based body offers this certified course to help management professionals to develop their knowledge and expertise in the area of management accountancy. The course provides training and qualification to allow accountants to attain a mastery over the subjects related to this field. It provides a good grounding and insight into how the different areas of accounting relate to the business world. This accounting qualification is most relevant to the current times and trends of the industry, helping individuals to unleash their talent and accelerate their career in the business field. The course is a knowledge refresher and a bridge to the CIMA Professional Qualification. CIMA-trained people work in commerce industry, management consultancies, banks and not for profit and public sector organizations.

CMA US AND CMA UK Overview AND Comparison

Both Courses have same abbreviations as CMA, however IMA (US) provides a certified course and stands for Certified Management Accountant and CIMA (UK) provides a Chartered designation and stands for Chartered Management Accountant.

CMA US AND CMA UK Overview AND Comparison

CMA vs CIMA Educational Requirements

CMA	CIMA
A candidate is required to hold a bachelor’s degree from an accredited university to qualify for the exam.	The CIMA course is open to everyone as the course is a rigorous program in itself. A high school diploma is the minimum requisite required to become eligible for the exam. However, exemptions to the exams are provided on the basis of the qualification of each individual.
The CMA is a two part exam, each exam consisting of 100 multiple choice questions and two 30-minute essay questions.	The CIMA course comprises of 15 papers and each paper is tested by a two-hour computer-based assessment.

CMA US AND CMA UK Overview AND Comparison

Pursuing CMA – Why?

CMA enjoys a strong global presence and is much more recognized and accepted by employers across the nations.
It finds a favor with students and professionals alike, due to its fast paced completion.
CMA is a two part exam and can be successfully finished by a candidate within a year.
However, one needs to keep in mind that the minimum qualification requisite remains a bachelor’s degree from an accredited university.
CMA entitles an individual with an advantage in the job market as the course develops your decision making capability allowing you to produce results in a critical situation for your company.
Also the CMA certificate brings more visibility to a candidate’s resume and allows an employer to evaluate the professional’s ability to be suitable for higher positions in the company.
CMA is a course that specifically targets to improve your skill set and thus is a much more applicable educational experience.
The CMA course study is very relevant to the modern day situations and it does not limit its scope for financial professionals. The very obvious reason is CMA designation holders are paid 30% more than there non certified colleagues and it is a must to do course if you want to build your career in corporate accounting.

CMA US AND CMA UK Overview AND Comparison

Pursuing CIMA – Why?

Traditionally it is a known fact that CIMA enjoys a better global presence than CMA due to its tie up with Common Wealth countries. Thus employers understand the experience, knowledge, skills and professional commitment that a CIMA will bring to the table.
Moreover, the course is designed to impart not only financial education to the candidates but also equip them with the skills in in business management, capable of advising on business strategy and risk management.
CIMA definitely gives a boost to your earning potential while preparing you for roles in the business and finance sectors. Also CIMA is not rigid in its idea of pre-requisites required to be eligible for the exam, thus a wide range of professionals are open to give the exam, creating wider job opportunities.

CMA US AND CMA UK Overview AND Comparison

Conclusion

There isn’t a “better” or “easier” qualification. As fellow reader Gunner pointed out in the comment section, while CMA may look easier with only two parts in the exam, it requires a bachelor degree, vs a high school diploma in CIMA. Or looking at it the other way, because CIMA has a lower entry barrier, it has a more comprehensive exam with more papers and time/effort in the preparation.

A more important consideration is where you would like to work in a longer term. This will help you select the qualification best suited in that region.