As the world progresses towards economic growth, the role of skilled professionals in accounting, financial management, business analysis, and decision-making support is imperative. Eventually, choosing the right course for aspiring accounting professionals has become vital for them to thrive in this field. However, the decision between CMA USA and CA India is more complex than it may sound. Both courses are highly regarded and lucrative in the business world. We have assembled a comprehensive guide to assist aspiring professionals in making an illuminated decision. This blog shows the comparison between CMA USA and CA India. So, keep on reading to learn more!
Overview of CA (Chartered Accountant)
The Institute of Chartered Accountants of India (ICAI) is the sole authority responsible for granting the CA certification in India. Recognised as one of the most demanding courses globally, CA is highly respected. CAs can be employed by government agencies and public and private sector businesses and undertake roles such as tax accountants, auditors, and budget analysts. The CA course consists of three levels – CA Foundation, CA Intermediate, and CA Final – along with three years of mandatory practical training.
CA Course Eligibility
For the Foundation Course: Completion of grades 10 and 12 from an authorized educational institution with a minimum of 50% in grade 12 is required.
For the Intermediate Course: Successful completion of the CA Foundation program and a bachelor’s or master’s degree with an overall score of 50% to 60% are necessary for admission.
For the Final Course: Candidates must pass the mid-course examinations in both groups and complete a four-week advanced integration course in Soft Skills & Information Technology.
Overview of CMA (Certified Management Accounting)
Provided by the IMA (Institute of Management Accountants), CMA is a prestigious certification that acknowledges an individual’s expertise in management accounting. This course emphasises specialised knowledge related to planning, budgeting, and control operations within an organisation.
CMA Course Eligibility
In order to qualify for the CMA certification, prospective candidates must meet certain requirements, including IMA membership, two years of work experience in management or financial accounting, and a bachelor’s degree in accounting, economics, finance, or management from a prestigious university. One can enroll in the best CMA institute in Delhi to prepare for the exam and take guidance from mentors on other related documentation, as even the simplest errors can lead to disqualification.
Comparing CMA USA And CA India:
The focus of Study: CA primarily focuses on financial and monetary principles accounting, while CMA emphasises management accounting and strategic management accounting.
Course Duration: CA courses typically last for around five years, while CMA can be completed in a shorter duration of 6 to 9 months. There is also the option of US CMA online classes that can prepare you at your own pace and schedule.
Exam Difficulty: CA examinations are considered more challenging than CMA USA exams, making CMA relatively easier to pass.
Job Opportunities: A CA can find employment in roles such as tax management, corporate management, business recovery, and forensic finance. CMA certification opens doors to positions like Cost Accountant, Financial Controller, Finance Analyst, and Finance Manager.
Salary Outlook: A newly certified CA can earn an average income of around 6-7 lakhs, while the salary for a CMA in the US ranges between Rs. 5-7 lakhs, with potential for growth over time.
Choose AKPIS Professionals to Experience the Best Learning and Mentorship!
To excel in either certification, aspiring professionals should choose the best CMA institute in Delhi or explore US CMA online classes to receive quality education and training in their chosen field. At AKPIS Professionals, we ensure that we prepare future accounting professionals with the help of our well-framed curriculums and training methods. If you want to achieve your career aspirations, feel free to contact us.