There is a common confusion between people who want to pursue CMA. Most people get confused between US CMA and CIMA. The first difference between these courses is that the US CMA is offered by IMA i.e. Institute of Management Accountants and the CIMA (Chartered Institute of Management Accountants) offers CGMA. CMA full form is Certified Management Accountant and Chartered Global Management Accountant is the full form of CGMA. CIMA Institute course leads to the CGMA designation after the course completion. Both these courses are highly acclaimed courses in the field of accounting. Different types of topics are covered in the curriculum.
- The CMA course is offered by IMA and is a management accounting course, which is considered to be the highest level of certification in management accounting.
- It provides a lot of weightage to a candidate’s portfolio and is a globally recognized certification.
- The US CMA course provides better opportunities for growth and a higher pay scale as well as escalates the candidate’s professional career.
What is the CIMA Course?
- The CIMA stands for Chartered Institute of Management Accountants.
- It is an accounting Institute established in the UK.
- The course provided by CIMA is beneficial for candidates who want to make a global impact and work in the field of Management Accounting.
- Many multinational companies prefer CIMA-certified candidates.
- With the CIMA course certification, candidates can work in fields such as banks, finance departments, audit firms, investment banking, etc.
- The CMA course eligibility is 10+2 i.e. after the 12th. It is one of those few courses that can be pursued after the 12th but to obtain the CMA certifications there are certain eligibility criteria that should be met. The candidate needs
- Active membership of Institute of Management Accountants (IMA)
- Two years of professional experience in management accounting or financial management.
- The candidate should have a Bachelor’s degree from an accredited university or an equivalent degree
- Both the parts of the CMA course exams should be cleared
What is the CIMA Course Eligibility?
- The CIMA course eligibility, just like the CMA, is 10+2 i.e. 12th. The candidate is required to gain 3 years of practical work experience in order to get the CIMA certification.
- Any candidate who has passed 12th can start this course irrespective of their background.
- There are some exemptions given to graduates and postgraduates.
- The CMA course duration is a minimum of 6 months and the maximum time provided by IMA is 3 years from the date of registration.
What is the Duration of the CIMA Course?
- The CIMA course duration is a minimum of 2.5 years.
- Since this course is pretty vast and has a lot of papers, it takes longer to complete this course.
- The US CMA course syllabus is divided into two parts based on the exam.
- Part I of the CMA course is about Financial Planning, Performance, and Analytics, and covers topics such as Performance Management, Planning, Budgeting, and Forecasting, Cost Management, External Financial Reporting Decisions, Technology and Analytics, etc.
- The part II of the CMA course is about Strategic Financial Management and covers topics such as Risk Management, Professional Ethics, Investment Decisions, Financial Statement Analysis, Corporate Finance, etc.
What is the Syllabus of CIMA?
- The CIMA course syllabus is divided into 3 levels- Operational level, Management level, and Strategic level.
- These levels are further subdivided into 3 learning pillars – Enterprise pillar, Performance pillar, and Financial pillar.
- The CIMA course has 9 papers and 3 case studies, making a total of 12.
- Some of the topics that are covered are Risk management, Relationship management, Advanced financial reporting, Management accounting, Strategic management, Financial strategy, Financial strategy, and Financial strategy.
Which is better, CIMA or CMA?
- When it comes down to deciding which course is better it gets difficult to compare both of them as the CMA and CIMA course is globally recognized.
- Both of these courses are certified courses that help in boosting the candidate’s career. The earning potential in the finance and business sector is high.
- According to the need and requirements of the candidate, they can choose any of these courses.
- In the end, what the candidate wants to pursue and make a career in matters the most as both of these courses are very high in demand and have a lot of potential.
- The target of both these courses is to provide more industry-related skills to the candidates.
- The scope is never-ending for both the courses, whichever course the candidate chooses. The CIMA course is comparatively more expensive than the CMA course.
Where Should I Study CMA (US)?
- The CMA USA course is a certification in Management Accounting. The best institute for the CMA course certification is EduPristine.
- It provides high-quality training with task-based simulation. It provides exam-oriented content with mock tests that help with the student’s preparation.
- Soft Skills training is an extra skill that is provided by EduPristine. Placement assistance and career services are provided for all jobs at EduPristine.
- Be it accounting jobs or finance jobs the scope is wide for them. The CMA course training makes the student market and job-ready.