CMA or CIMA Which is Better


CMA and CIMA: don’t they both sound the same, look the same.  But wait, there’s a huge difference in both the certifications. They may look very similar and maybe be very similar but they are still DIFFERENT! Distinguish them for yourself:

Certified Management Accountant(CMA) is a USA based certification, overseen by the IMA (Institute of Management Accountants). From the last few years the CMA has been growing and spreading its global presence, and is now well known in China and throughout the Middle East.
Chartered Institute of Management Accountant(CIMA) certification is handled by the CIMA (Chartered Institute of Management Accountants). The CIMA is recognized in many countries, especially those in the UK and commonwealth.

Q.:Which course is more beneficial CMA or CIMA?

Answer: CMA certification is a great ascription for management professionals who are looking for enhancing their knowledge and skills in the financial management fields. The course prepares a professional with skills in the area of financial planning, analysis, control, decision support, and professional ethics.

In case of CIMA, it gives knowledge and insight into how the different areas of accounting relate to the business world. This accounting qualification is most relevant to the current trends of the industry, helping candidates to unleash their talent and accelerate their career in the business field.

So, depending upon your preference of field that you want to work in and build skills around, the benefits differ. Hence it is difficult to generalize which certification is better as both of them cater to people with different aspirations.

Q.:What is the Requirements/Eligibility Criteria to pass CMA and CIMA Exam?

Answer: The eligibility criteria can be defined on the basis of Education and Experience.


CMA:A bachelor degree from a recognized university is required to get qualified for the CMA exam, but there is no eligibility for CIMA exam.

CIMA:Everyone can do CIMA course program because CIMA itself offers a more rigorous program.

In case of CMA certification no experienced is required. But in case of CIMA Candidates must have 3 years of working experience in related field.

Q.:Who provides the certifications?

Answer:The CMA certification is provided by Institute of management accountants, America while CIMA is given by Chartered institute of management accountants, UK.

Q.:What is the registration fee for each of the courses?

Answer:CMA’s registration fee for students is $ 476 and professionals are $1030 whereas for CIMA it is GBP 75.

Q.:How many papers do you have to give?

Answer:If you are doing CMA you have to give 2 papers at a single level and if you pursue CIMA you have to give 16 papers at 5 levels.

Q.:When does the exam take place?

Answer:CMA exams can be taken in January –February, May-June or September- October. CIMA exams can be scheduled according to you.

Q.:How long will it take to complete the course?

Answer:CMA takes a minimum of 6 months to a year to complete while CIMA can take up to 3-4 years.

Q.:What jobs can I get after completing the course?

Answer:CMA certification gets you the following jobs:

  • Financial risk manager
  • Financial analyst and planner
  • Capital Venture
  • Internal Auditor
  • Cost accountant and Manager

CIMA certification gets you the following jobs:

  • Finance analyst
  • Finance manager
  • Internal auditor
  • Financial analyst
  • Financial accountant
  • Tax specialist

Q.:What would be my average salary?

Answer:A CMA’s salary would be $33,500 which would be approx. INR 21,30,000.
A CIMA’s salary would be $ 33,000 which would be approx. INR 21,00,000.

Q.:Where should you go to visit the official websites?







Chartered institute of management accountants

Institute of management accountants (IMA)


UK and Commonwealth

USA, China, India, Middle-east

Topics covered

  • Strategic management
  •  Risk management
  • Financial strategy
  • Project and Relationship management
  • Advanced management accounting
  • Advanced financial reporting
  • Organisational management
  • Management accounting
  • Financial reporting
  • Taxation
  • Financial planning
  • Performance and control
  • Financial decision making
  • Performance management
  • Cost accounting
  • Risk management
  • Decision Analysis
  • Professional Ethics
  • Planning, budgeting and forecasting
  • Investment decisions
  • Registration fee

    $99 USD

    Student – $476.25 USD

    Professional – $1030 USD

    Sets of examination

    16 papers 5 level exams

    2 papers

    Exam dates

    You can schedule your exams accordingly.

    Jan-feb, may-jun, sep-oct

    Minimum Time duration

    3-4 years.

    6 months-1year

    Median salary

    $ 33,318; INR 2,117,241

    $33,573; INR 21,33,076

    Future Prospects/ideal for

  • Finance analyst
  • Finance manager
  • Internal auditor
  • Financial analyst
  • Financial accountant
  • Tax specialist
  • Financial risk manager
  • Financial planner and analyst
  • Capital venture
  • Internal auditor
  • Cost accountant and manager
  • Website

    Hopefully, you have understood the difference between CMA and CIMA. If you have any queries you can mail us at To know more about CMA and its training visit our page.

    Everything you want to know about the CMA certification

    Going for the CMA certification is a great career move, especially when you aspire to make it big in the field of management accounting. But before getting into it, it is important that you know every detail about the course, eligibility, exam structure, salaries and the opportunities it will offer. You need not go anywhere else to find all these information, just sit back and continue reading and I am sure that by the end of it you’ll have answers to all your questions related to the CMA certification.

    Eligibility for CMA

    CMA Eligibility

    To get the CMA certification, you must have:

    • Membership of IMA
    • A Bachelor’s degree from an accredited university
    • Two years of relevant experience
    • Passed both the parts of CMA Exams

    CMA Exams

    CMA exams are divided into two parts (four hours for each part) the syllabus of which is as below:

    Syllabus for CMA Exam Part 1

    • External Financial Reporting Decisions
    • Planning, Budgeting and Forecasting
    • Performance Management
    • Cost Management
    • Internal Controls

    Syllabus for CMA Exam Part 2

    • Financial Statement Analysis
    • Corporate Finance
    • Decision Analysis
    • Risk Management
    • Investment Decisions
    • Professional Ethics

    The candidates have to clear both these parts within 3 years of registering for CMA.

    When can you appear for the exam?

    The candidate can appear for the exam in the following months

    • January and February
    • May and June
    • September and October

    CMA Exams are administered by Prometric which has centers all over the world. You’ll have to schedule your exams atleast 72 hours prior (It is advisable to schedule atleast 4 week in advance)

    Career Prospects after completing CMA

    Career Prospects after CMA

    Obtaining the CMA certification will open a lot of opportunities for you in the domestic as well as the global market. It will help you to enhance your financial, accounting and management skills that will expand your career potential and which will help you to stand out from the rest. Some of the job roles that you expect after completing CMA are:

    • Finance Manager
    • Financial Analyst
    • Financial Risk Manager
    • Financial Controller
    • Cost Accountant
    • Chief Financial Officer
    • Cost Manager
    • Relationship Manager

    Learn more about the job roles to be pursued after CMA

    Salary after CMA

    Now comes the most important question, “How much will you earn after CMA?” Well that depends on various factors like company size, your position in the company, experience level etc. Below you can find the salary of CMA in India from all these different perspectives.

    CMA salaries by Years of Experience

    Like every other certification and field, the salary of CMAs too increases with the increase in the years of experience. If you have just started out, you might not able to draw a big amount but after completing a couple of years, there is no looking back.

    CMA  salary by experience

    CMA salaries by Job Role

    Finance Managers and Financial controller are the positions that you must look out for as they are the highest earning positions but if you are starting out, it is quite possible that you might have to work as finance analyst.

    cma  salary by job role

    CMA salaries by City

    If you are a CMA and situated in Bangalore, then you are in a happy place as you are earning more as compared to the CMAs in other cities.

    cma  salary by city

    CMA salaries by Company Size

    Bigger the company, higher will be the salary. But after a point when the number of employees are more than around two thousand then you can expect a dip.

    CMA  salary by company size

    Salary Source – Payscale

    Not just in India but CMAs earn a very good salary across the globe. You can check the same by going through the 2015 Global Salary Survey Report by IMA .

    So does that solve all your doubts regarding the CMA certification? If you have any other queries then mention them in the comments box below and it shall be solved at the earliest. You can also call on our Toll Free No – 1800 200 5835 to get the CMA course details.

    If you have already made the decision of going for CMA and are looking for a training institute then EduPristine is an institute that provides CMA trainings online and offline that will help you clear your exams easily. Check the CMA course details and Enroll Now.

    Cost Management: Meaning, Techniques & Advantages

    What is Cost?

    Cost is defined as the monetary valuation of effort, material, resources, time consumed, risk and opportunity forgone in production / delivery of a good or service. It is simply put as the amount that has to be paid or given up for something to be acquired.

    What is cost management?

    It is defined as the process of planning and controlling the budget of the business. It helps in predicting the expenses of the business so that one can avoid going over budget, thereby being an integral part of business management.

    cost management

    Cost management involves different cost accounting methods that have the goal of improving business cost efficiency by reducing costs or atleast having measures in place to restrict the growth of costs.

    Cost can be managed by

    • Cost estimation
    • Cost budgeting and
    • Cost Control

    Cost management system helps in identifying, collecting, classifying and collating information that can be used by managers in planning, controlling and taking decisions to keep costs in the desirable limits.

    Why adopt cost management?

    Before any project is taken up, it is appropriate to define the objectives to avoid any kind of cost over-runs. They also help in keeping away over or underestimation of costs. A well defined project helps in facilitating appropriate management of the costs, making the project a profitable one for the undertaker. Through cost management, unexpected costs can also be appropriately dealt with as and when they occur as the forecast would reflect it.

    Factors affecting cost management

    • Growth in information technology
    • Global and overall domestic competition
    • Growth of service and manufacturing sectors

    Cost management techniques

    Managing a business has containing cost of utmost importance. Below are mentioned some of the techniques through which the overall cost of the business can be controlled and maintained within the required limits.

    cost management  techniques

    Capitalize on technology

    This is one of the methods that help in streamlining the business. The latest of technology helps in getting quality of higher standards, less time consumption with higher productivity and keeps the employee count within the desirable range. All of this very strongly reflects in the overall cost of the business.

    Time management

    The one who owns the business definitely knows the value of time for his / her business. However, it is important to pass down the relevance across the hierarchy of business to view the desired results. It is very essential to make the employees understand the value of time and how to be efficient to do more work in the same time span. This is one of the methods that will help increase the productivity without adding to the labor cost.

    Inventory management

    One of the major cost as well as ways of generating revenues is through inventories. First and foremost one needs to chalk out the inventory requirements, the quantity check that needs to be stored, vendor costs etc as all of this helps in knowing the requirements of the business and helps avoid stocking excess inventory and deploy the capital elsewhere rather than tying up in the inventory stocks.


    Outsourcing is one way that helps take employees on third party roles especially when it is for one time projects. This saves the employer from taking the cost onto his books. This is definitely done keeping in mind that the outsourcing partners are of the standards that do not hamper the quality of services to the customers of the business.  Besides the employees, certain projects also can be outsourced, which helps in saving the additional employee costs onboard as well as get access to outside talent and technology, helping in optimizing the resources.

    Updated market sense

    It is very important to be updated with the trends in the markets as it is game of survival of the fittest. One has to be constantly in touch with the vendors and see that renewal of the contracts keep happening with the trend in prices. This will help in negotiating for the best prices available rather than dragging on the set prices of long term contracts.

    Control of headcount

    The second most important cost to a business is the employee cost. Although we take employees as assets or the backbone of the business, one needs to keep in mind that they also have cost associated with them. Besides the regular pays and salaries, workplace, licenses, softwares are the additional costs added per employee. That is why, it is essential that the manager knows how to reduce the employee costs, either by taking less number of people onboard, or by taking more of low cost employees rather than few high costs ones.

    Advantages of cost management

    advantages  of cost management

    • It helps in controlling the project specific cost, in turn also the overall business cost.
    • One can predict the future expenses and costs and accordingly work towards the expected revenues.
    • Predefined costs can be maintained as records for the business.
    • It helps in taking those actions that are necessary to assure that the resources and business operations aim at attaining the chalked objectives and goals.
    • It helps in analysing the long term trends of the business.
    • The actual cost incurred can be compared to the budgeted to see if any component of the business is spending more than expected.
    • It helps in analysing the business positioning in terms of making an acquisition factoring the cost component involved.


    Cost management is indeed one of the essential requisites for the success of any project or business for that matter. When one knows the scope for the cost that the business can bear, it becomes much easier to set the goals and accordingly work towards it.

    Career Games : CMA vs CPA

    Deciding whether you would go out with friends or stay at home can be a difficult question, but CPA or CMA is no longer a question that should pressurize you. You can easily distinct between the two and opt for the one that suffices your needs. Both have their own characteristics and advantages but you need to see for yourself which is the certification that you would like to have. You can distinct between the two using the infographic below and come to a clear conclusion in a few seconds.

    CMA vs CPA

    Hopefully this would have helped you and cleared your doubts. Now you can pressurize your brain on whether you would like to go out or stay at home rather than which course is better. If you have any queries, leave a comment below. For more details visit the CMA and CPA course page.

    Next Career step in Commerce after Class XII

    Now that you have cleared your class 12 examinations, have you given any thoughts on what you want to do next? If you are thinking of choosing a career in Commerce then I would say it’s a great choice. In India, Commerce has grown tremendously and is known for providing a wide scope of career options to pursue after class 12. It further gets wider with students realizing the importance of Commerce and the specialization courses associated to it. These courses not only give you an opportunity to grow and make an illustrious career but also help you becoming the top-notch in your professional career. But the question which troubles you is ‘Which career option to choose?’.

    It is not a compulsion that you need to have completed your Higher Secondary from Commerce only. A Science or an Arts’ student can also pursue these specialized courses after class 12. As it is rightly said “It’s not what you achieve, it’s what you overcome. That’s what defines your career”. All you need is dedication, hard-working spirit and self-confidence to face all the hurdles coming your way. Now let me throw some light on some of the most prestigious and industry respected career options you can opt for after class 12.

    ACCA (Association of Chartered Certified Accountants)

    ACCA is the world’s leading and fastest-growing international accountancy organization with 162,000 members and 428,000 students across 173 countries. The ACCA qualification helps in developing successful careers in the fields of accounting, banking, management and consulting. The major advantage of pursuing this course is competing for senior roles.


    Various Certifications and recognitions can be earned with ACCA. It shouldn’t surprise you when we say that you can earn:

    • Diploma in Accounting and Business (on completion of F1 to F3 and Professional Ethics Module)

    • Advanced Diploma in Accounting and Business (on completion of F1to F9, Professional Ethics Module)

    • B.Sc. in Applied Accounting from Oxford Brookes University

    • ACCA professional membership (on completion of all 14 exams, 3 yrs work experience and Professional Ethics Module)

    • Membership of the Institute of Internal Auditors USA (after passing 3 papers)

    • Membership of Singapore Institute of certified Public Accountants

    • Membership of Malaysia Institute of certified Public Accountants

    • Membership of Hong Kong Institute of certified Public Accountants


    • Students who have completed 12th from Commerce stream
    (Pass in 5 subjects including English and Mathematics / Accounts, mark of 65% in at least 2 subjects and over 50% in the others)

    • Students pursuing Graduation in Commerce (B.Com, BBA, BMS, etc.) or B.A/B.Sc. graduates from a recognized university through Foundation in Accountancy.

    The ACCA exams give you the theory beyond your knowledge of accountancy but alongside theory, the experience prepares you for a challenging career as a professional accountant. This qualification closely links practical experience to your studies. This helps you in applying the knowledge you gain from exams to your work and impress your future employers by showing them that you have a perfect mixture of knowledge with skills. You should think about the practical experience you need to gain for the ACCA Qualification when looking for a job and choosing your employer.

    Visit our ACCA course page for further details.

    CMA (Certified Management Accountant)

    Certified Management Accountants (CMA) are strategic financial management professionals with accounting skills and leadership competencies in international competitiveness, market development, human resources management, and information technologies. This international certification makes you the preferred choice of the potential employers. It is offered by the Institute of Management Accountants (IMA) USA and the content is regularly reviewed by the Institute of Certified Management Accountants (ICMA). It has been offered since 1972 and has certified over 40,000 professionals.


    Having a CMA Certification makes you compatible for many titles in your career. These titles include:

    • Staff accountant

    • Financial analyst

    • Budget analyst

    • Internal auditor

    • Finance manager

    • Vice president of finance

    • Chief financial officer (CFO)

    • Chief executive officer (CEO)


    • A bachelor’s degree from an accredited college or university, preferably B.Com, BBA, BMS

    • A GRE or GMAT score in or above the fiftieth percentile or current certification in a comparable field such as Certified Public Accountant

    CMA certification is widely accepted in India and in the job markets of US, Canada, Europe, Middle East and China. Average CMA entry-level earning potential is more than any other professional’s entry level salary. According IMA’s salary survey from 2009, accountants with CMA certification earned 31% more than non-certified accountants at the same levels.

    Visit our CMA course page for further details.

    CPA (Certified Public Accountant)

    A Certified Public Accountant (CPA) is the highest standard of competence in the field of Accountancy across the globe. The exam is administered by the American Institute of Certified Public Accountants (AICPA), which is the world’s largest accounting body.

    A CPA qualification is similar to the Indian CA qualification. In addition to the CA qualification, a CPA will have knowledge of US Generally Accepted Accounting Principles (GAAP), IFRS (International Financial Reporting Standards), Generally Accepted Accounting Standards (GAAS), US federal taxation and business laws. This gives great advantage to a CPA when working with US Based Financial firms or Indian firms working for US clients.


    CPA certification opens doors to a wide variety of career options. Some current hot areas in accounting include:

    • Assurance Services

    • Forensic Accounting

    • International Accounting

    • Internal & External Auditing

    • Tax & Financial Planning

    • Consulting Services

    • Forensic Accounting

    With global recognition, a CPA can always find the best place to work anywhere and a salary with at least 30 – 40% more than the other accounting professionals.


    • A bachelor’s degree in accounting (B.Com, BBA, BMS) as well as a Master’s degree in accounting or taxation (MBA, M.Com, CA) from an accredited college or university

    • A specific amount of professional work experience in public accounting (the required duration and type of experience varies according to licensing jurisdiction).

    CPA is most suitable for CA, ICWA, CS, LLB, MBA (Finance), M.Com Professionals. By earning your CPA certificate, you can position yourself for a rewarding and broad-based career path.

    Visit our CPA course page for further details.

    Clearing all three of the above exams will earn you international certification which will be the best for your career. Other than these three esteemed courses, you have other career options that you can go for. Some of these are:

    Certificate in Accounting & Compliance (CAC)

    There are chances that you may not have heard about this certification before but if you are looking for accounting certification then this one is a good career option. If you are going for you will have hands on expertise in the field of Accounting, Taxation, Reporting and Compliance integrated with high end accounting softwares and applications like Tally ERP 9, SAP, Advanced Excel, Quickbook.

    Career advantage with CAC Certification

    Having a CAC Certification makes you compatible for many titles in your career. Some of them are:

    • Accounts Assistant
    • Sr. Accountant
    • Accounts Manager
    • Manager/Sr. Manager
    • DGM/GM

    Visit our CAC course pagefor further details

    CA (Chartered Accountant)

    Charted accountants specialize in the fields of accounting, including public management and government accounting. Job duties of a Chartered Accountant differ greatly within specific positions. Many duties are shared between CAs that include preparing financial reports and documents, maintaining investments records, reviewing potential financial risk as well as providing professional opinions in regards to the fiscal decisions of the firm.

    You can enroll directly for the Intermediate (IPC) course by the ICAI if you have passed your 10+2 as well as Common Proficiency Test (CPT.)


    • Bachelor’s degree in a financial field and two years of post-graduate study

    • Three years of work experience supervised by a CA

    CS (Company Secretary)

    Company Secretary is a professional course which is administered by The Institute of Company Secretaries of India (ICSI). Company Secretary Course provides you with the knowledge and understanding of the modern corporate financial and legal affair practices. To get a Company Secretary certification, the candidate needs to pass the Foundation Program, Executive Program, and Professional Program. You can appear for the Foundation Program for Company Secretary, if you have passed 10+2 in any stream.


    • Candidates who have passed senior secondary (10+2) can apply for the Foundation Program

    • Candidates who have passed the Executive Program can apply for the Final course.

    BMS (Bachelor of Management Studies)

    BMS is a specialized under graduate management course which focuses on the study of business mathematics, managerial economics, business ethics, corporate social responsibility, human resource management, etc. It is the best platform for the aspiring candidates who want to pursue MBA after graduation. BMS creates a base for MBA degree and hence when you start with your MBA program, it helps you in easy and better understanding of the topics.

    Students who have cleared their class 12 examinations irrespective of their specialization field i.e. Science, Arts or Commerce, are eligible for BMS degree.









    ACCA, UK

    IMA, US


    ICAI, India,

    ICSI, India

    Local University


    2 yrs

    Around 1 yr

    Around 1 yr  

    5 yrs

    3.5 yrs  to 4 yrs

    3 yrs

    Salary Package in (INR)

    3.5 to 9 Lakhs

    4 to 7

    4.5 to 11

    3 to 6

    3 to 9

    2 – 4


    3 Lakhs

    80K to 1.5 Lakhs

    1.25 to 1.75 Lakhs

    2.5 Lakhs

    2 lakhs


    Benjamin Franklin once said “What is the recipe for successful achievement? To my mind there are just four essential ingredients: Choose a career you love, give it the best there is in you, seize your opportunities, and be the best in it”. So choose carefully what you want to do and we are there to help you out in preparing for these exams. There are many more career options present for you in the field of finance as well. Here is the list of finance course that you can pursue for a better career.

    Many Companies and organizations in today’s life are looking for specialized and expert marketers to get higher profit in a smarter way. Here are some Courses in marketing that you can pursue to start a career in marketing. In today’s competitive world, if you are not satisfied with the career or course you pursued there are many short term – high value – low investment courses available in the market

    EduPristine is India’s leading training provider for international certifications in Accounting (ACCA, CPA and CMA). All the trainings are provided by accounting industry professionals who not only provide knowledge to our students but also share their expert insights and experiences with them. We provide Classroom as well as Online training for all the above exams. Visit our website for detailed information on ACCA, CPA and CMA.

    Accounting Careers in India

    India is a land of opportunities, where we witness almost a surge of doctors, engineers, software developers every year. However, amidst all these celebrated career domains, there are several other brighter options for people having lesser interest in technical fields. Accounting is one such proliferating vertical that has been embraced willfully by students. Hence, if you also prefer accounts over other subjects to kick start your professional career, here are few prospective courses in this field that you can pursue.
    Chartered Accountancy

    It needs lots of hard work, brilliance, and patience to succeed in this three-year course. It imparts a superior quality theoretical knowledge, practical training and myriad other skills desired in a professional Chartered Accountant. The Institute of Chartered Accountants of India conducts this exam. Once you are through, you have brighter chances of ensuring lucrative salary packages.

    Cost Accounting

    The success of a company on global precincts depends very much on its expenditures to offer quality service. The lesser the cost input, the better it is expected to survive the stiff competition. The study of Cost Accounting is based on this very thought. It requires you to take care of the cost management affairs on behalf of your employer, and could prove to be a very fruitful profession. In India, you can pursue this course from the Institute of Costs and Works Accountants of India (ICWA).

    Company Secretary

    With the growing presence of industries into various sectors, practices like foreign stock exchange listing, takeovers, mergers, collaboration, etc., have become quite usual. The foray of companies into these new avenues lead to many associated legal obligations. A company secretary hence helps his organization to solve any sort of law related issue arising out of these business engagements. The body that conducts this course in India is The Institute of Company Secretaries of India (ICSI). You should be XII pass or possess bachelors degree in Law or commerce to join this course.

    Chartered Financial Analysts

    While you enroll yourself in CFA certification course, you will put forth a concrete step toward cementing your accounting career in India. It arms you with several business practices, economic conditions, policies, and of course, all the basic accounting standards. Becoming a Chartered Financial Analysts entitles you to become a professional financial advisor. Companies and individuals would seek your insightful and analytical opinions during fund investments, to leverage maximum monetary gains. You should be at least a graduate in Commerce with Maths, to join this course.

    Accounting careers in India are multifarious, the need is to be aware and grab the opportunity as it comes. Courses likes Chartered Accountancy, Company Secretary, Cost Accounting, etc. are among the most sought after ones in this proliferating professional vertical.