A Certified Management Accountant focuses on the Measurement of the Accounting Principles that go into providing reports for the Management Analysis. The Certified Management Accountant Qualification is offered by various Universities across the Globe & Candidates who clear the exams become CMA’s.
CMA is a unique academic credential, designed specifically for accounting and finance professionals who aim to achieve higher ranks in their fields. Achieving the CMA demonstrates your professional expertise in the field of financial planning, analysis, control, decision support, and professional ethics – which are the essential skills sought after by successful organizations and their financial team leaders.
The Growing list of CMA’s include Individuals holding Top Managerial Positions, Middle Level Managres working to become the leaders of tomorrowand those just starting their careers in management accounting and financial management. Regardless of which position you are working at, the Certified Management Accountant credential adds dimension to your professional development.
Difference between CMA & CPA
A Certified Public Accountant – CPA mainly focuses on preparation of Income Statements, Audited Financial Statements, computation of taxes etc. whereas the job profile of a CMA includes analysis and strategy formulation of the data prepared by the CPA’s.
Refer the following Video for the Differences between CPA and CMA
As explained by Stephen Shepherd who is the Director of the Member Services of IMA, the CPA Qualification is limited to the state from which it has been acquired whereas the CMA Qualification is universal and you can make use of the same whether you are in New York or Sydney or Dubai or Mumbai or any other city.
Salary of a CMA
CMA (Certified Management Accountant) is the advanced professional certification specifically designed to measure the accounting and financial management skills that drive business performance.
CMA’s combine their Accounting Skills with Management Abilities to lead employees and develop businesses. Companies also honor the skills which come along with this Qualification and Certified Management Accountants are thus paid higher than Non-Certified Accountants.
As per a recent research, the Average Difference in the Salary in the US of a CMA and a Non-CMA is around $22,000 per annum
Institutes offering CMA Qualification
Various Universities across the Globe offer the CMA Qualification and following is the list of the main Institutes offering the CMA & CMA related Qualification
|Country||Name of Institute||Website|
|US||Institute of Management Accountants (IMA)||http://www.imanet.org|
|Canada||Certified Management Accountants of Canada||http://www.cma-canada.org/|
|UK||Chartered Institute of Management Accountants (CIMA)||http://www.cimaglobal.com/|
|Australia||Certified Management Accountant (CMA Australia)||http://www.cmawebline.org/|