Both CMA in India and CMA in USA equip students with all the required knowledge and skills to excel in the field of financial accounting and strategic management. However, both the courses are different from each other in various aspects. The major difference between CMA USA vs CMA India are discussed below:
Regulatory Body
The CMA in the USA is regulated by the Institute of Management Accounts (IMA). It is a forum for education, knowledge sharing, research, and the advocacy of ethics and best business practices in Management Accounting and Finances.
On the other hand, CMA India is regulated by the Institute of Cost Accountants of India (ICWA) with an aim to promote, regulate, and develop expertise in cost accountancy.
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Eligibility Criteria
A class 12th certificate and an undergraduate degree are the two most important US CMA eligibility for Indian students. The IMA has made the provision for undergraduates to have another seven years to produce the documents upon successful acquisition of the CMA USA certificate.
To apply for CMA in India, a class 12th certificate along with 6 months of articleship is enough. But you must have a score of minimum 40% for individual papers and an aggregate of 50% for intermediate groups.
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Course Structure & Syllabus
Another difference between CMA US vs cma India is the course duration, exam structure and their syllabus. CMA in USA can be completed in 6 to 9 months, whereas CMA in India is a 3 year course.
To talk about the US CMA exam pattern, you will be given 4 hours to complete 100 MCQ questions and 30 mins for two essays. Its syllabus is structured on 12 different topics pertaining to 2 parts of the course.
A glimpse of the CMA USA syllabus is given below:
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Financial Planning, Performance and Analytics
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Strategic Financial Management
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Technology and Analysis
Internal Controls
Cost Management
Performance Management
Planning, Budgeting and Forecasting
External Financial Reporting Decisions
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Financial Statement Analysis
Corporate Finance
Decision Analysis
Risk Management
Investment Decisions
Professional Ethics
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For CMA in India, there are 20 subjects and 3 levels. They are as follows:
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Foundation Level
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CMA Intra Level
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CMA Final Level
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Fundamentals of Accounting
Fundamentals of Business Mathematics and Statistics
Fundamentals of Economics and Management
Fundamentals of Laws and Ethics
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Company Accounts and Audits
Cost Accounting and Financial Management
Cost and Management Accounting
Direct Taxation
Financial Accounting
Indirect Taxation
Laws, Ethics and Governance
Operation Management Information System
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Advanced Financial Management
Business Strategy and Strategic Cost Management
Corporate Financial Reporting
Corporate Laws and Compliance
Cost and Management Audit
Financial Analysis and Business Valuation
Strategic Performance Management
Tax Management and Practice
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Recognition
One of the most distinguishing cma usa vs cma india is the recognition that each of them holds. A CMA in USA certificate is recognized and valued all over the world, but this is not the same for India. CMA in India qualification is acceptable only in India. It also restricts the global employment opportunities which is not the case with CMA in USA.
So that was in detail about cma india vs cma usa, which can be summarized as below:
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Particulars
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CMA in USA
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CMA in India
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Administered By
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Institute of Management Accountants
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Institute of Cost Accountants of India
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Course Duration
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Maximum 1 year
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3 years
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Requirements
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Undergraduate degree + Work experience
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10+2
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Exam Structure
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2 Parts (1 Level)
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3 Levels – 20 Papers
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Articleship
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NIL
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6 months
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