CMA Course: Unlocking Diverse Career Paths | EduPristine

Welcome back, learners, to another blog post on the career paths after completion of the US CMA Course. In this post, we’ll explore what is this course about, highlights of US CMA Course, the career opportunities & finally this beneficial course by EduPristine, equipping you with the knowledge and skills needed to excel this course.

What is CMA Course?

CMA stands for Cost & Management Accounting; after completing this course the deserving candidate would be rewarded with the CMA title. Not only is this course important for the candidate eager to gain knowledge but at the same time it has vast job opportunities along with hefty packages making it worth all the efforts. The four key pillars that support the CMA course are financial reporting, strategy, regulatory framework, and management.

Highlights of the US CMA Course

CMA Course Eligibility: To become a CMA, a candidate should have:

• Membership of the Institute of Management Accountants (IMA)
• A Bachelor’s degree from an accredited university or an equivalent degree
• Two years of professional experience in management accounting or financial management.
• Completion of Part 1 and Part 2 of the CMA course exam.

CMA Course Subjects: Part 1: Financial Planning, Performance and Analytics

• Cost Management (15%)
• Internal Controls (15%)
• Technology and Analytics (15%)
• External Financial Reporting Decisions (15%)
• Planning, Budgeting and Forecasting (20%)
• Performance Management (20%)

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Part 2: Strategic Financial Management

• Risk Management (10%)
• Investment Decisions (10%)
• Professional Ethics (15%)
• Financial Statement Analysis (20%)
• Corporate Finance (20%)
• Decision Analysis (25%)

CMA Course Duration: Depending on the candidate’s dedication and focus, it takes 12-18 months to complete both parts, on average. However, IMA provides a duration of a maximum of 3 years from the date of registration to complete the CMA course. Candidates can appear for the part 1 and 2 exams in:

• January/February
• May/June
• September/October

US CMA- Career Opportunities

1. Financial Controller Role: Financial Controller are also known as “company historian” this is because they handle the daily operations related to finance. They are responsible for the company’s books & records. Their work depends on the size of the firm; say if it is a small firm then it is more on the side of detailed accounting; if it is mid-sized firm their duties include project management, technology, insurance and compliance functions & lastly coming to large sized firms they work with the Chief Financial Officer (CFOs) & Chief Accounting Officer (CAOs) finance managers and treasurers to control the finance and administration function. Skills needed: Strategic thinking, communication & interpersonal skills, compliance skills, cool under pressure etc. 2. Chief Financial Officer Role: Chief Financial Officer (CFO) is an elevated designation. They help with keeping in line the finances of the firm. CFOs provide input regarding the company’s investments, capital structure etc. Their reports should be in line with the legal regulations this is because a CFO’s data is of utmost importance while making financial decisions also because they report directly to the CEO helping them with forecasting the finances. Skills needed: analytical aptitude, risk assessment skills, innovation management, leadership skills, etc.  

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3. Finance Manager Role: The role of a finance manager is to help with decision making & long-term financial goals. Financial reports, budgets, forecasts etc. are being prepared and managed by them along with developing plans in line with the same. It is important to note that the finance managers make sure that the finances are utilized in a very efficient manner resulting in profitability of the firm. Skills needed: Strategic and analytical skills, adaptability, problem-solving skills, interpersonal skills etc.  

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4. Financial Analyst Role: A financial analyst’s role is a bit crucial as they gather all the data related to the finances of a firm analyze, evaluate, note the benchmarks from the earlier events & provide their insights on the same. But this just doesn’t end here there is more to it. After providing insights they plan out strategies that will help accelerate the business. This is a continuous and rigorous process consisting of frequent changes as well depending from situation to situation. Skills needed: Critical-thinking skills, organizational skills, financial literacy skills, accounting skills etc. 5. Financial Risk Manager Role: The 2 most important metrics a financial risk manager considers is cost & market trends / fluctuations. If a company faces a loss the finances of a company is disrupted. In case there are changes in the market again the finances of a firm is harmed. So the duty of a financial risk manager is to manage & mitigate these risks. A financial risk manager studies the history of the firm to note whether the same had occurred also focusing on the current state of the firm and making predictions about the possibility of future market fluctuations, any type of risk occurrence say natural, man made etc. which could make the firm vulnerable to it considering all of this informed financial decisions are made. Skills needed: Strategic thinking, ability to work under pressure, people management and leadership skills, relationship-building skills etc.  

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6. Cost Accountant Role: A cost accountant makes sure that the firm is adhering to the cost prescription. The major focus of a cost accountant is on the manufacturing, raw materials, inventory, productions etc. to compare it with the standard costing and making changes that suit the budget of the firm. Maintaining an organization’s cost accounting system and examining audit and cost reports. Skills needed: Tech-savviness and technical proficiencies, research-oriented, management skill, problem-solving etc.

EduPristine Offering CMA Course

EduPristine is now an Official Gold CMA Course Provider for IMA® and Becker Partner for US CMA Content. Becker is one of the approved CMA content providers globally. We provide classroom training (Mumbai) & Live Virtual Classes (Online). We offer practical and experiential learning along with soft skills training and placement assistance. Conclusion So here we come to the end of our blog post. Hope you learners got a gist of opportunities associated upon completion of the CMA course. So if you’re ready please don’t hesitate to contact us for Free Counselling for the US CMA Course full details, US CMA course fees & US CMA course training offerings at EduPristine. Until then keep learning, keep growing.