What is Management Accounting?
Management Accounting is a field of study that details with financial planning, decision making and problem solving.
If numbers intrigue and you want a career in analysis and deriving decision based on numbers, then yes Management Accounting is the course for you.
Indian CMA:
CMA stands for Cost and Management Accountant and the course is offered by The Institute of Cost Accountant of India.
A student who has passed 12th Standard is eligible to take up the course.
The course is divided into three levels:
1. Foundation : 4 Papers
2. Intermediate Level :2 Groups with 4 Paper in each group
3.Final Level : 2 Groups with 4 Paper in each group
Exams are held half yearly and is takes roughly three years to complete the entire course. The Cost of CMA is Rs 60,000 (approx). The expected salary is around Rs 3-4Lakh p.a
UK CIMA:
CIMA stands for Chartered Institute of Management Accountant.
A student who has passed 12th Standard is eligible to take up the course.
The course is divided into four levels:
1.Accounting Level
2.Operational Level
3.Management Level
4. Strategic Level
Level 1: 4 Objective paper
At 2, 3 & 4 level : 3 Objective paper and 1 Case Study paper
If you have certain other qualifications then exemption to papers are also offered.
Objective papers are on-demand and Case Study exams are held quartely.
The Cost of CIMA is Rs 2-3 Lakhs (approx). The expected salary is around Rs 5-7 Lakh p.a
CIMA offers global opportunity and takes 3 years to complete the course.
US CMA:
US CMA stands for Certified Management Accountant.
A student who has passed 12th Standard is eligible to take up the course.
The course is divided into two levels:
Part 1: Financial Planning, performance and analytics
Part 2: Strategic Financial Management
Each Part has 6 subjects
Exams are held in Jan-Feb, April-June and Sep-Oct
The Cost of US CMA is Rs 1-1.5 Lakhs (approx). The expected salary is around Rs 4-6 Lakh p.a
US CMA offers global opportunity and takes just 6months to 1 year to complete the course.
Job profiles is similar for all these courses, some of the profiles are:
All the three courses are very popular and much in demand. Kindly consider the cost, duration and difficulty level before taking them up.
Incase you require any guidance you can reach out to us.
