Wanna be a Director (Finance)/CFO in future?
Entry to Top positions in Finance & Accounting is generally restricted to Professional Accountants. Not much of IIM grads became CFOs because they do not have a professional accounting qualification.
To be a Professional Accountant, one does not need to be a Public Accountant (Auditor or Practicing Chartered Accountant) by struggling for 5-8 years including articleship period, failed exams and eventually turning nowhere with a demoralized, half-accountant status as it happens to majority of the aspirants.
A faster yet challenging CMA (Certified Management Accountant) route provides you faster earning opportunity and fast-track career.
Management Accountants are also Professional Accountants and learn the same body of knowledge the Public Accountants learn.
CMA can be extremely beneficial for
Current MBA students/MBA aspirants:CMA will be synergic with MBA as it will help them do very well in Financial Management, Cost & Management Accounting, Corporate Finance, Security Analysis & Portfolio Management, Financial Institutes and Markets, International Finance & Derivatives and Management papers of the MBA examination. CMAs will not need to do an MBA (Finance) as it automatically covers most areas of MBA (Finance).
B Com / M Com students: CMA will help you separate yourself from other lakhs of MBAs. With a CMA, you can work in any area of Finance or Accounting in Managerial positions. CMAs drive performance in business –auditors just express opinions. Even an ordinary MBA (Fin), MFC, B Com, or M Com can have extraordinary career with the international CMA.
CMA alone can get you all the material benefits life and job life has to
CA aspirants: Cost of doing a CA over an average 5.5* years period is Rs 23.54* lakhs including opportunity cost of lost earning (as compared to a CMA) during CA studentship. (Note: Assuming a student takes 5 and half year to pass the CA)
MBA aspirants: Let us tell you that the weight carried by an International CMA is comparable to the one of IIM or IIT grads. You get this weight by spending 1/4th or 1/5th of an average MBA education from an average local MBA college which is known only in your city. We do not want to comment of the status of MBA education with mushrooming centers at every Bus-stand. IIM and top school MBAs are great. If you are thinking just to do an MBA to satisfy your parents’ ego or make you marketable in the marriage market, we have nothing to say. However, if you mean MBA as a means to advance your career, you can think CMA as a more remunerative career option than joining the already crowed ordinary-me-too-MBA.
IT professionals: IPFC is promoted by Engineers and IIM MBAs who are also CMAs and hard core programmers. Leave it to us how to teach a little bit of accounting knowledge in 5-6 sessions that is required to proceed to CMA course. We assume that you want to be known as a programmer or IT manager whose CMA qualification will display domain knowledge of finance and accounting. A good programmer with an additional CMA qualification will be a hot cake in the international job market. If you want, you may also move to the career line of a Finance Manager or MIS Manager where your IT background will be accepted as a plus. Don’t worry about the cost –its affordable and educational loans are available
PSU senior officers promoted from rank and experienced staff accountants in MNC/Private sector: There are many committed, capable and hard-working senior managers, AGMs, DGMs and even GMs working in the PSUs who were promoted to senior managerial levels in the PSUs despite having the disadvantage of not having a professional accounting qualification like CA or ICWA. Similarly, there are accounting managers working in the private sectors who do not have a professional accounting and finance background. Adding the CMA qualification will make them at par with Chartered Accountants and ICWAs and rise in their career path. IPFC, on behalf of
Ambitious Science/Engineering graduateswho have a knack in finance and dreaming to hold a prestigious position with a handsome salary as early as possible. Science and engineering graduates, a talented lot, have the natural ability to get into any other discipline. IPFC, an organization,created by Engineer-MBA-Professional Accountants is best poised to understand such people and help migrate them to finance smoothly.
Spouses of Indian IT graduates who work in US, Sounds Confusing? Well, it’s true that girls from good families are increasingly getting married to Indian IT graduates from top schools and settling in the USA or Canada . CMA, being a top education in the United States and Canada , is in very high demand. Such girls, if they have a CMA, will be earning more than their IIT graduate husbands at the entry point itself in the United States or Canada . If you get married in India , still, you end up earning at par with CA/ICWAs while working for MNCs, private sector, etc
CMA Content Specification Overview
Part 1 Financial Planning, Performance and Control
(4 hours – 100 questions and 2 essay questions)
Planning, Budgeting and Forecasting 30% Level C
Performance Management 25% Level C
Cost Management 25% Level C
Internal Controls 15% Level C
Professional Ethics 5% Level C
Part 2 Financial Decision Making
(4 hours – 100 questions and 2 essay questions)
Financial Statement Analysis 25% Level C
Corporate Finance 25% Level C
Decision Analysis and Risk Management 25% Level C
Investment Decisions 20% Level C
Professional Ethics 5% Level C
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