A Certified Management Accountant (CMA) is an advanced professional qualification to measure critical accounting and financial management skills. As the global economy gears up for a major shift and businesses start functioning internationally, opportunities for CMA candidates are only going to rise.
Moreover, a CMA certification is far less expensive than MBA in Finance and can be earned in a significantly shorter period of time. The Big 4s, namely, KPMG, Deloitte, PricewaterhouseCoopers (PwC) and Ernst & Young (EY) consistently hire CMAs. A career as a Certified Management Accountant can give you more money, increased credibility and better opportunities to grow.
As a CMA you can work in the following areas:
As a Financial Analyst, you will track financial status, analyze results and make reports to improve the overall productivity of a company. In order to have a strong foothold as a Financial Analyst, you must have intrinsic research skills and have the confidence to make management decisions.
As a Finance Manager, you will be responsible for making operational decisions, forecasting and budgeting. For this, you will be required to have an in-depth knowledge of the overall global financial industry while being a powerful communicator to deal with clients and colleagues.
Financial Risk Manager
The main function of a Financial Risk Manager is to analyze threats to be able to minimize risks. With your CMA degree, you will have to foresee changes with your analytical skills, use strategic objectives, and finally formulate probable future trends for a company. If you have a proficiency in mathematics, even better, the same expertise can be used to apply critical analytics.
A Financial Controller is the lifeline of the finance department. He/she is a multi-tasker with strong analytical and communication skills. In this position, a person analyzes books, oversees tax disputes, conducts audits and administrative tasks, and formulates financial strategies.
As a Cost Accountant, you must have good business acumen. This position requires the Cost Accountant to determine the actual costs associated with providing a service or manufacturing a product. A Cost Accountant is required to collect, validate and communicate data for the purposes of financial transparency and process improvements.
Chief Financial Officer (CFO)
CFO is one of the highest job designations in a company with a major say in business decisions. A CA qualification along with a CMA certification will give you the credentials to manage the financial performance of a company. With this, you must also possess leadership and communication skills.
Along with the Big 4s, many Fortune 500 companies like the Bank of America, Hewlett-Packard, Johnson & Johnson, Microsoft, Procter & Gamble, KeyCorp, Whirlpool, Xerox etc. have CMAs as their key management personnel.
As you can see, the opportunities for CMAs are quite diverse and hold great potential for the future. However, if you are just starting your career in finance, you may have to start as a Financial Analyst before you get to the position of a Finance Manager or Finance Controller.
Miles Education has been offering CMA training as a Platinum Course Provider with IMA since 2014. We offer constant support to our students at all stages from admission to certification.