B.Com (Hons.) and BBA (Hons.) is integrated with US CMA (Certified Management Accountant). CMA is a professional certification in finance & accounting relevant for success in businesses. Achieving the CMA demonstrates professional expertise in financial planning, analysis, control, decision support, and professional ethics – skills that are in demand by organizations around the world. Basically, CMAs can explain the “why” behind numbers, not just the “what”. The CMA degree gives greater credibility, higher earning potential, and ultimately a seat at the leadership table.
CMA is offered by the IMA (Institute of Management Accountants), US, and is a globally recognized, advanced-level credential appropriate for accountants and financial professionals in business. The CMA exams comprise the following two exam parts:
- Part 1 – Financial Reporting, Planning, Performance & Control
- Part 2 – Financial Decision Making
As an integrated program, the US CMA curriculum is covered over Semesters 1-4 (via 5 integrated subjects) and students are encouraged to clear the 2 CMA exam in Semester 4-5 before placements. Candidates who clear the CMA exams will be able to achieve differential placements with top MNCs.
What is the value creation done by the Management Accountant?
Certified Management Accountants play an important role as advisors to top management. Their role includes but is not limited to:
- Act as trusted business advisors
- Support management decision making process
- Involved in strategic development initiatives
- Work “hands on” to add value in organizations
- Use broad-based business knowledge to improve company performance
- Pricing Decisions – Decide the right price for a product and further pricing strategies
- Cost Management – Analyze costs, reduce and manage costs,
- Set up standards for costs and analyze any variances,
- Planning, budgeting and forecasting
- Raising Capital – Assessing how to raise capital for a business, deciding between debt & equity; minimizing the cost of capital
- Investment Decisions – Analyzing and ranking investment avenues (or projects) using Capital Budgeting techniques like NPV (Net Present Value), IRR (Internal Rate of Return), etc.
- Financial Analysis – Analyze the company’s profitability, activity, liquidity, solvency, debt coverage, etc.
- Internal Controls – Ensuring:
- Fair and accurate financial accounting & reporting,
- Compliance with laws & regulations.
- Effective & efficient business operations
What jobs should you look for after doing US CMA?
- The CMA is a performance manager who validates mastery of financial planning, analysis, control, and decision support – the critical skills required of valuable strategic advisors in any organization
- Few designations/profiles for CMAs in the industry:
- Finance and Accounting Managers within companies
- Budgeting Managers
- Investment Manager
- Costing Manager
- Payable Manager or Receivable Manager
- Portfolio/ Fund Manager
- Financial Controllers
- Chief Finance Officer
- A CMAs role is to ensure that the company runs its financial and overall performance in an efficient manner so that the objectives of the companies are met. They are the people who make daily decisions within the companies for its survival and growth
Opportunities in India for CMAs are with MNCs including Banks & Financial Services, Consulting, IT, Retail, Pharma, Manufacturing [basically, any US-based MNC in India