A lot of people have a common misconception about becoming a CMA. They think it is difficult to achieve the certificate and not worth doing it. Well, it is necessary to clear out a few things about becoming a CMA. At present, there is a high demand for certified management accountants all over the world. And becoming one is attainable.
Why Become A CMA?
When a CEO or company executives create business plans and strategies, they do so with the help of financial experts called Certified management accountants (CMAs). These professionals have significant expertise in financial accounting and strategic management. They earn their certification through the Institute of Management Accountants (IMA).
These professionals have a command over critical accounting and financial management skills. They are qualified to work across various multiple areas of the organization to provide expertise over certain matters. CMA is the highest level of certification in management accounting. It mainly acts as a global passport for accountants and finance professionals.
CMA is a growing profession. It involves specialized accounting expertise to assist in management decision-making and planning. The designation is well-known around the world. And, if you are looking for global recognition, this could be it. Moreover, a CMA has higher earning potential compared to a non-CMA person.
What Are The Requirements To Become A CMA?
Essentially you need to earn a Bachelor’s degree in accounting or a related field to become one. You can then proceed to join the IMA and gain its membership. The certification also requires two years of professional experience in management accounting or financial management. Also, you need to complete Part 1 and Part 2 of the CMA course exam.
Anyone interested in pursuing a dynamic career in corporate accounting will want to look into a career as a CMA.
What Does A CMA Do?
The primary role of CMA is to use their finance and accounting expertise along with strategic planning and decision making skills to inform business strategy.
Certified management accountants (CMAs) can work in a wide range of sectors, including corporate finance or accounting firms, government agencies, educational institutions or large corporations. There is a list of titles that CMAs typically hold in an organization. They can be financial analysts, accounting managers, controllers and several other executives and accountants professionals.
Who Should One Consider Earning This Certification?
Earning your CMA can help you advance your career in management accounting. Those interested in pursuing strategic management roles or embarking on an executive career path, go for it!
Entry-level
If you are at the entry-level of an accounting career, you will need two years of work experience before you're eligible for CMA certification.
Working professionals
Established or working professionals looking to improve their job prospects may also want to consider the CMA. This certification is an effective way to transition from being an individual contributor to a big-picture strategist.
Interested professionals in corporate accounting and finance
Large corporations employ CMAs because they have their specialized knowledge and expertise. These professionals are extremely valuable to organizations with complex business operations.
Conclusion
Earning a CMA demonstrates expertise in strategic management and financial accounting. It opens the door to a wide range of career opportunities in the corporate world. Afterall, it is your choice to pursue a CMA certification depending on your strengths and your career goals.
It is ideal for professionals who are interested in a management career-professionals who prefer big-picture planning and to deal with detail-oriented work of accounting.
Now that you know what a CMA can do outsourcing its services to an accounting firm is beneficial for your business. If your business requires management accounting services, connect with Business Guru. Visit their website for more information on their services and expertise.
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