Students ask some common questions like CA or CMA which is best, is it advisable to do CMA with B.com, is it advisable to do CMA with the job, and is it possible to show the Accounts job experience as article ship training. The tax and audit department looks for CA and finance and accounts departments look for CMA. Students need to bear in mind that CMA is a professional course that requires more focus. So, take CMA as a main course and B.com as a side course is what the expert’s advice.
After completing CMA intermediate students do the job and take the CMA final as the side course. But the advice of RR academy is to complete the CMA and then go for a job. The working experience from accounts job is accepted as six months or fifteen months of article ship training. ICMA accepts students with full-time experience for consecutive years. This is not possible with CA as the specialization is in tax and not accounts. So, after completing B.com if the candidate has experience in the accounts department then they can produce the employment certificate as inter ship experience.
Difference between full-time course and part-time courses
Educational courses are offered by academic institutes as per the convenience of the learners. The different plans are full-time, on-line, part-time, and off-line. The coaching completion certificate is also called CC. The number in the CC must be mentioned when applying for the examination in CMA examination. The part-time students and full-time students both need to complete the stipulated coaching hours. Full time is suitable for students who have fewer professional and personal responsibilities. Part-time courses are for students who have more responsibilities and want flexible timings to read. Part-time and online works well for working professionals who seek a gradual career change.
Full-time courses offer the network which student takes as the base for the opportunities. The coaching with a full-time course is good and it dedicates more time for the students. The fees are nominal for the part-time courses. Full-time courses provide housing facilities to the students which helps for the cost management. Full-time courses offer placement support whereas part-time courses are not offering. In the case of CMA, the students from full-time and part time both get placement assistance. This is not possible in MBA courses. The ROI is generally the same for the full-time courses and part-time courses. Here the return is the salary which students get after completing the education. In the case of an MBA, bank loans or scholarships are available for full-time courses. It is not open to part-time joiners. In the case of CMA, the scholarship is catered to the marks of the students. And it does not take the mode of education into account for a scholarship.
Comparison of CMA vs. CFA vs. CPA vs. ACCA
Popular courses in accountancy are CFA, CPA, CMA, and ACCA. CMA course is for analyzing the company’s financial statement, capital structure, working capital policy, and risk management and valuation issues. CMA is for strategic management and financial analysis. CPA professionals check the accounts before filling them to the Securities and Exchange Commission. The CPA exam is from the American Institute of certified public accountants. It is one of the largest recognized accounting bodies in the world. This certification is for post-graduates. CPA professionals work with investment banking, portfolio management, and hedge funds. CFA is a course that focuses on accounting, auditing, and business environment studies. Four years of job experience or Graduation is essential for this job. ACCA is the course that is equivalent to chartered accountancy in India. CMA course is suitable for 12th standard students, B.com graduates, and working professionals. Depending upon the area of interest one choose the course. This comparative analysis is to envisage the accounting certifications standard around the globe.
The best way to decide about the course and the mode of study is to check the personal resources and the long-term goals. Some certifications are specific and some have broader usage. For instance, the MBA certificate is useful for the Banking sector, healthcare, and FMCG industries. As they have a functional role it is highly demanded in India for certain industries. Professional perfection comes from the quality of education and systematic mode of education. So, to equip the skills students need to decide about the answer to the question that part-time or full-time is suitable for them.