The US CMA designation

Transcription

1 The US CMA designation: - US equivalent of Indian CMA [earlier CWA] month s timeline - Only 2 papers - Exams in India Becker official India partner

2 Section 1 The CMA Career CMA by IMA (US) = US equivalent of Indian CMA 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 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

3 Why only 2-4 exams for US CPA/CMA certifications? US CPA / CMA Global recognition 2-4 exams, single-level University degree required 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 exams, 3 levels University degree 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.

4 roles = Value Creation MANAGEMENT ACCOUNTING Inside the organization Report Design Manage Implement PUBLIC ACCOUNTING AUDIT 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

5 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

6 The US CMA Certification Overlap between CPA and CMA curriculum 4 parts on the CPA exams: FAR AUD REG BEC Financial Accounting &Reporting Auditing & Attestation Regulation (US tax & business law) Business Environment & Concepts Indicative coverage on the CMA exams: FAR AUD NOT REG NOT BEC CMA = Focus on Finance & Accounting = CPA (-) Audit (-) Tax/Law

7 The US CMA 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 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