Indian CMA has two modules with sixteen papers. Global CMA is different from Indian CMA. Globally, America, Asia and the Middle East have recognition for the CMA course. ACCA is a global course from the UK with fourteen papers. CMA students with more than five years of experience get exemption from nine papers for writing ACCA. Similarly, students with less than five years of experience after CMA get seven papers exemption. Indian CMA has tied up with CIMA. Recently, ACCA also has approved the MOU between Indian CMA and ACCA. If the client base of the Company is from the US, then the knowledge of CMA is on top priority. If the client base of the Company is from the UK, then the knowledge of ACCA is on top priority. This blog presents valid points with a comparison of the job requirement for CMA and ACCA. Tried for a comparison with the opportunities and difficulty level.Hope this gives answer to the question, “CMA vs ACCA which certification is the best choose?”
Job opportunities for CMA and ACCA
Cost accountants are decision-makers and analysts. CMA graduates get opportunities from banks, the government sector, private companies, and manufacturing companies. ACCA professionals have skills in planning and auditing consultancy. The demand for ACCA professionals is high in India and abroad. To cope up with the market requirement producing CMA and ACCA professionals is essential. ACCA professionals render service in the business areas of taxation, auditing, reporting, productivity planning, forensic accounting, treasury service, and management.
Why do US-based Companies prefer CMA qualified professionals?
The difference between Indian CMA and US CMA is that the cost control strategies are applicable as per the auditing strategies. The tax law and audit law vary as per the number of businesses and the revenue of the country. The management accountant needs to provide the information for making the decision. Every manufacturing environment is connected to an accounting function. The US CMA spotlight the experience faced by the US companies in the manufacturing and service industry. The research conducted through a survey with questionnaires indicates the value of CMA for the internal and external environment have deteriorated. Big firms follow Anglo-American practices as they have strong proof of success. The mobility in the job market demands global certification. The root of any problem in the accounting function starts from the professional accounting certification. The CMA qualification is the sought-after qualification, and the US Companies know that the students understand the scenario and apply the research to the subject. This acquired skill helps to identify the solution for the issue. The answer to the question “is it good to do CMA after ACCA? Is “yes”. The job environment lays the difference between CMA and ACCA qualifications. Hope this answers the question, “CMA vs ACCA which certification is the best choice?”.
Why UK based Companies prefer ACCA and CIMA, qualified professionals?
The scope of ACCA and CIMA is worldwide as it is a global certification. Yes, it is a wise chance to learn many courses as there is an inter-connectedness. Indian CA, ACCA, and CIMA are equivalent degrees. In the countries like UK, EU, Canada, and Australia, ACCA professionals have signing authority. The value of ACCA is high in these countries. The statistics show that more than 170 countries have demand for ACCA qualified professionals. In an MNC company, technical skills, professional ethics, and strategic thinking play the game of power. ACCA professionals understand the business in a global environment which makes them as valuable. ACCA professionals shape the future of the business world. In an organization that thinks beyond limitation and grow globally, ACCA qualified professionals are the pillars. The growth and future thinking of the executives propel the value of ACCA and CIMA professionals.
Conclusion
The difficulty level of the professional course CMA India, CMA USA, ACCA, and CIMA is almost the same. The country of work, department of work, and the salary expectation of the student decide which course is apt to the student. The answer to the question that ACCA or CMA which is tough? Is that both the course has value to the students. CMA and ACCA combination are helpful to try foreign opportunities. RR Academy has plans in future to help the CMA students to pursue ACCA and CIMA qualifications. Like the Indian partnership, we plan to develop a global partnership to provide quality education to the students.
