The US CMA designation
The US CMA designation: - US equivalent of Indian CMA [earlier CWA] - 6-9 month’s timeline - Only 2 papers - Exams in India - @Simandhar, Becker “official” India partner
The US CMA designation
Section 1
The CMA Career
CMA by IMA (US) = US equivalent of Indian CMA
Roadmap to CMA = 6 months
CMA is the US equivalent of Indian cost accountant from Institute of Cost
Accountants of India (formerly ICWAI)
CMA exam USPs
2 exams only
Exams in India
6 months / 400hours study
Extensive career opportunities with MNCs in finance &accounting
International
Credibility
• Global recognition
• Opportunity with MNCs in India
• MoU between IMA & ICWAI ensuresmutual recognition
Knowledge
Base
• Finance & Accounting
• Financial Reporting, Planning,Performance, Control, Decision-making
• No Audit / Tax
Course USPs
• 2 exams only, 11 Sunday classes
• Can complete within 6 months
• Anywhere: India or globally
• Anytime: 6 months/year
The US CMA designation
Why only 2-4 exams for US CPA/CMA certifications?
US CPA / CMA
US professional qualifications “COMPLEMEN” UNIVERSITY EDUCATION – e.g., to be a CPA, CMA or CFA, a university degree is mandatory
Therefore, these are crisper in content and focus only on skill gaps that are needed to be a F&A professional
Designed to be pursued alongside a full-time job and to facilitate the career progression for professionals
Indian CA / CWA
Indian (or even UK) professional qualifications tend to “SUBSITUTE” UNIVERSITY EDUCATION – e.g., you can be an Indian CA, CMA or CS without being an under-graduate!
Therefore, these are lengthy and also encompass what a candidate would have covered (or simultaneously covers) in a university degree.
Global
recognition
2-4 exams,
single-level
University
degree required
16-20 exams, 3
levels
University
degree
The US CMA designation
CMA @F&A roles = “Value Creation”
MANAGEMENT ACCOUNTING
PUBLIC ACCOUNTING
Management Accounting is about “value creation” whereas Public Accounting
treads into “valuation”
CMAs work inside the organization creating value by providing high
quality financial information to management.
Public accountants (CPAs) attest to the validity of that information
Management Accountants help create value, rather than simply
measuring it!
Key responsibilities of Management Accountants:’
o Act as trusted business advisors
o Support management decision making process
o Involved in strategic development initiatives
o Work “hands on” to add value in organizations
o Use broad-based business knowledge to improv
Inside the organization
Design
Implement Manage
Report
AUDIT
The US CMA Certification
CMA Exams = 2 Parts only
The 2-part CMA exams cover abroad-base of topics– all a
Management Accountant or Financial Analyst needs to know!
Students would need approx 400hours to prepare for the exams
Exam pass rates of over 40%CMA Exams = 2 Parts only
Key pointers:
Exam pattern = 75% objective pattern / 25% essay questions
Passing score of 360 out of 500 on each part
Global Pass Rate > 40%
Anytime across 3 exam testing windows: Jan-Feb, May-June, Sep-Oct
(6 months/year)
Anywhere in India or abroad
The US CMA Certification
Overlap between CPA and CMA curriculum
4 parts on the CPA exams:
Indicative coverage on the CMA exams:
CMA = Focus on Finance & Accounting = CPA (-) Audit (-) Tax/Law
FAR
•Financial Accounting &Reporting
AUD
•Auditing & Attestation
REG
•Regulation (US tax & business law)
BEC
•Business Environment & Concepts
COVERED FAR NOT COVERED AUD NOT
COVERED REG
COVERED BEC
The US CMA Training @ Simandhar Education
Simandhar CMA - Course Offerings 126 hours of classroom training over 14 Sundays; Learning through materials published by Hock International
Online Test Bank with 2000+ Exam Questions and 10 Sample Essays
Quick Online Refresher
Online study material with Text, 550+ Exam Questions
More than 23 hours Video, 18 Essays
Effective Learning System with Bite-Sized Lessons, Exam Planner
Instructor Mentoring with Online Support
Lectures to be delivered by all proficient faculties and with industry experience
Placement assistance (for self-sponsored candidates)
Simandhar Education is the provider of CMA classroom training. Simandhar Education provides the best in-class study material, a unique classroom delivery model quality education with emphasis on conceptual knowledge and extensive student support to accomplish their goals.
Simandhar CMA Course Fees
INR 89,000+GST
Early bird discounted fee INR 72,900+GST
For more details on Course Structure and Batch schedule please visit our website
www.simandhareducation.com
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