Indian CMA vs US CMA

Hello, and welcome back to our new blog where we will be discussing the Indian CMA and the US CMA certification, two powerhouses in the world of management accounting. Yes, they share the same acronym. However, these certifications differ significantly from one another. In this blog, we will simplify the complexity to present you with a direct comparison of these certifications. Whether you are seeking global recognition or aiming to excel in the Indian market, understanding the key differences is essential. Together, let us understand all the factors right from the eligibility criteria to career prospects. We hope that, by the end of this blog, you are in a better position to find out which path lights up your professional journey!

Before we dive deep, it is crucial to understand the basics.

What is the US CMA certification?

• The US CMA (Certified Management Accountant) is a prestigious accounting certification that is globally recognized and awarded by the Institute of Management Accountants (IMA) in the United States.
• With over 140,000 members across 150 countries, IMA, US, is one of the largest and most influential associations in Management Accounting.
• Tailored for accounting and finance professionals, the US CMA course syllabus emphasizes financial management and strategic decision-making skills.
• The US CMA course is divided into two parts, each part focuses on critical aspects of management accounting to help candidates secure advanced roles in various industries
• After completing the US CMA course successfully, candidates can master in-demand skills such as budget preparation, interpretation of variance analysis, and the ability to interpret financial statements.

What is the Indian CMA certification?

• The Indian CMA (Cost and Management Accountant), is a professional certification offered by the Institute of Cost Accountants of India (ICAI), formerly known as the Institute of Cost and Works Accountants of India (ICWAI).
• To become certified, candidates must clear the CMA examination, which consists of 3 parts (foundation, intermediate, and final).
• Once certified, candidates can use the CMA designation to demonstrate their expertise in the field of cost and management accounting.

Now that, we have a little better clarity of the details, let us compare both these certifications across different parameters. Are you ready to get started?

Comparative Analysis of US CMA and INDIAN CMA

1) Eligibility Criteria for the US CMA course certification

The US CMA course eligibility criteria is quite simple. The below groups are eligible to pursue the US CMA course .

Students pursuing their undergraduate studies.

Professionals with Commerce, Science, or Economics backgrounds.

Anyone looking for a faster way to advance their corporate career and wanting to move to multinational companies while exploring opportunities to work in India and beyond.

However, the requirements to become a successful CMA are as follows-

Active membership in IMA, US.

Successful completion of both the parts 1 and 2 of the US CMA exam.

Bachelor’s degree from an accredited college or university or a related professional certification. This requirement can be met prior or within 7 years of passing the examination.

Eligibility Criteria for the Indian CMA certification

Foundation Level

To be eligible for the foundation level, candidates must complete class 12 or equivalent from a recognized board or institution.

Intermediate Level

To be eligible for the intermediate level, candidates should pass the foundation level or hold a bachelor’s degree in any discipline apart from Fine Arts.

Final Level

To be eligible for the final level, candidates should successfully complete the intermediate level.

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2) Global recognition and mobility- US CMA Certification

Global career opportunities

Candidates can pursue careers across various industries and countries, making it ideal for those seeking enhanced global mobility.

Widely Recognized

The US CMA certification is globally recognized as a leading credential in Management Accounting and is acknowledged by multinational companies worldwide.

Versatile Application

This certification is accepted and valued in a broad range of sectors, offering flexibility in job roles and geographic locations.

Global Recognition and mobility- Indian CMA Certification

Targeted Mobility

Candidates can find opportunities in several countries with mutual recognition agreements or those valuing specialized cost accounting skills.

Regional Focus with International Recognition

While highly regarded and respected in India, the Indian CMA certification is recognized in a selective other countries, where Indian businesses have a significant presence.

Industry Specific Value

This certification is specifically valued within industries operating within India, focusing on cost management and strategic planning.

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3) Exam Format- US CMA Certification

As discussed earlier, the US CMA examination consists of two parts. Each part focuses on different aspects of management accounting and finance.

Part 1 covers Financial Planning, Performance, and Analytics.

Part 2 covers Strategic Financial Management.

Format

Each part of the US CMA examination comprises of 100 multiple-choice questions and two 30-minute essay questions.

Duration

Candidates receive a total of 4 hours to complete each part successfully, which includes 3 hours for the MCQs section and 1 hour for the essay section.

Exam Format- Indian CMA Certification

Levels

As we mentioned above, the Indian CMA certification is spread across three different levels (Foundation, Intermediate, and Final).

The Foundation level consists of 4 papers.

The Intermediate level consists of 8 papers and divided into 2 groups of 4 papers each.

The Final level also consists of 8 papers and are divided into 2 groups.

Format

Every paper at all levels of the Indian CMA certification is a blend of descriptive and objective questions.

Duration

The duration for each paper is 3 hours.

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4) Program Completion Requirements- US CMA Certification

Passing Criteria

Candidates are required to achieve a minimum score of 360 out of 500 on each part of the US CMA examination.

Professional Experience

Candidates must have two continuous years of professional experience in Management Accounting and/or Financial Management. This requirement can be met prior to or within 7 years of passing the examination.

Continuous Education

US CMAs are also required to complete 30 hours of Continuing Professional Education (CPE) annually, with a minimum of two hours focused on ethics.

Program Completion Requirements- Indian CMA Certification

Passing Criteria

Candidates need to score a minimum of 40% in each paper under every level and an aggregate of 50% across all papers of a group to pass.

Practical Training

All candidates are required to complete 15 months of practical training after clearing the Intermediate level and before attempting the Final examination. This practical training provides real-world exposure in cost and management accounting.

Membership

Candidates should apply for membership with ICAI after clearing the Final level to earn the designation of Cost and Management Accountant.

5) Program Difficulty- US CMA Certification

Pass Rates

According to the latest reports, the average passing percentage of the US CMA exam is 50%. These pass rates not only reflect the exam’s challenging nature but also, indicate that success is attainable with focused preparation.

Preparation Time

Candidates need about 150-170 hours of study per part to cover the CMA course syllabus comprehensively.

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Program Difficulty- Indian CMA Certification

Pass Rates

The pass rate for the foundation level tends to be higher compared to the intermediate and final levels. The pass rates for the foundation level have ranged from 30% to 50%.

The pass rates are typically lower than those for the foundation level. The pass rates for the intermediate level often range from 10% to 30%.

The final level is the most challenging and has the lowest pass rates. The pass rates for the final level usually range from 5% to 20%.

Preparation Time

Given the program’s multi-level exam structure, candidates often require a longer preparation time. Balancing studies with employment can sometimes extend the process over several years.

Comparison between US CMA vs INDIAN CMA

Here’s a comparison table:

Factors to consider before making a choice between US CMA vs INDIAN CMA.

Making the right choice between the US CMA and Indian CMA certifications requires careful consideration and we hope that this blog helps. There are certain factors that should be considered before making the final decision.

1) Assess your career goals

• If you are looking for a career with MNCs or in countries outside of India then, the US CMA’s global recognition might serve you better. On the other hand, if you are looking to specialize in cost management and want to work within the Indian market then the Indian CMA could be more beneficial.

2) Evaluate Specific Skill Sets

• US CMA focuses more on financial planning, analytics, and strategic decision-making, suited for broader management related roles. The Indian CMA certification emphasizes more on cost accounting, making it suitable for roles that require cost management and control expertise.

3) Consider Geographic Preferences

• The US CMA certification offers greater international mobility, making it an ideal choice for those wanting to work abroad. The Indian CMA certification, though recognized in some countries, is significantly valued in India and may provide limited global opportunities.

4) Long-Term Career Prospects

• We would highly recommend you research the demand for each certification in your desired industry or sector. Some industries may prefer the strategic orientation of the US CMA, while some others may prefer the cost management focus of the Indian CMA certification.

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5) Reflect on Personal Circumstances

• You can also consider how each program aligns with your current lifestyle and other commitments. The US CMA certification can be completed in a shorter duration, whereas the Indian CMA certification requires a structured approach over an extended period.

6) Financial Commitment

• You must also consider the initial and ongoing investment for each certification. The US CMA certification generally requires a higher investment but offers higher returns in global settings as well. The Indian CMA certification is less expensive but tailored to the specific requirements of the Indian market.

7) Seek Professional advice

• If you want to seek professional advice, you can always schedule a call with our expert CMA course counsellors for personalized counselling or visit our center anytime during the week from 9:00 am to 6:00 pm. Talking to learners who have completed the CMA certification can provide valuable insights into the benefits and challenges they have encountered, helping you in making an informed decision. You also read more about their journey here .

Always remember, the right choice is the one that best matches your career aspirations and helps you achieve your long-term goals.

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Who are we and what do we do?

• Founded in 2008, EduPristine is a leading training provider in accounting and finance.
• EduPristine has trained and mentored 70,000+ students and has delivered 7 million hours.
• At EduPristine, we are fully committed to helping aspirants like you in their upskilling journey by offering end-to-end services right from career counselling to providing soft skills training and career services support.
• EduPristine is also a proud Gold Partner of IMA for the CMA program.

If you are interested in wanting to know more about the US CMA course or anything related to CMA course details, please visit our website or get in touch with us via our social media channels. We would be more than happy to assist you. Thank you for reading this blog till the end. All the best, and happy learning!