What are the merits and demerits of studying Certified Management Accountant (US) compared to the CMA exam in India? - M Panneerselvam
A similar query was raised previously in respect of CA vs ACCA, the same principles on the choice could be fairly applied in this context. The choice of pursuing CMA US and CMA India depends on long-term objectives. Consider the following:
- CMA US is globally recognised, making it more appealing.
- The Institute of Cost Accountants of India (formerly Institute of Cost and Works Accountants of India (ICWAI)) has entered an MoU with the Institute of Management Accountants (IMA), US, to enable mutual recognition and cooperation between the two institutes. Further, CMA India has tied up with the UK, but the scope is very limited.
- The course duration gives CMA US an edge but it requires post-qualification work experience. However, CMA India has a requirement for six months articleship training along with the course.
- Pass percentages always favour CMA US which is estimated at about 30-35 per cent, which is much higher compared to CMA India that is estimated at about 2-4 per cent .
- If a person wants to pursue a career in India, training under an Indian body is advisable.
- Fee for pursuing CMA US is comparitively costlier.
- As in any professional course, consistency, time management and discipline, are the core requirements.
(The expert is a a Chartered Accountants and Partner at RVKS and Associates, Chennai.)