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Cma while working in engg sector

Harihar (Executive- Sales) (32 Points)

28 September 2014

Hi all I am a sales engineer(mechanical) with 5 years of work exp in manufacturing sector( 1.5 years in Engg maintenance and 3.5 years in sales). After consulting with many financial experts regarding my intention to stay in Engg sector itself but to learn abt finance so that in some years down the line, this knowledge would surely help me climb the ladder soon, they advised me to take up CMA. Now my doubt is since I require 6 months of article ship/training in finance field before taking final exam , how can I manage to accomplish this crieteria as I am a full time employee and working in non finance profile ?. Also can I use grad. cma after completing final exam if I dont complete 3 years articleship ?. Please guide. Thanks in advance for your time and response.

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9 Replies

chandra (student) (528 Points)
Replied 28 September 2014

Try CIMA(UK). Its expensive but rewarding.

Else try Part time MBA or eMBA or Distance learning MBA

Best of luck.

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TARAK NATH (Dy.Manager (Finance)) (196 Points)
Replied 29 September 2014

It is one of the sought after qualification combination required by manufacturing industries.After becoming Cost and Management Accountant(CMA) you will be expart in techno-commerial profile.Go for this combunation .In india today these combination is in huge shortage.

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Harihar (Executive- Sales) (32 Points)
Replied 29 September 2014

Originally posted by : chandra
	Try CIMA(UK). Its expensive but rewarding. Else try Part time MBA or eMBA or Distance learning MBA Best of luck.

Thanks for your suggestion. I was looking at the curirculum of CIMA , I find the content is apt. But I have below doubts.

1. Being in India and wish to stay here itself, would CIMA be relevant to our country?

2. Is there any option for me to do CMA , like do some part time job with the firms with profile matching as per CMA requirements and complete the total working hours requriements in a year's time. Is it possible?. Although I will try checking with my company for a internal transfer in fiance dept for 6 months period , but is there any way out to satisfy the CMA criteria apart from internal transfer?. My job involves preparation of techno-commercial offer which involves cost estimation of various associated mech equipments & commercial negotiations/agreement?. Can this experience be shown for exemption and will it be accepted by CMA? .

3. Does CIMA requires any internship/ articleship?. What is the approximate fees even if I join coaching classes?. What is the suffix which I can get after completing CIMA?

Thanks in advance.

Regards

Harihar

Jithin (Learner) (1057 Points)
Replied 29 September 2014

Originally posted by : Harihar
	2. Is there any option for me to do CMA , like do some part time job with the firms with profile matching as per CMA requirements and complete the total working hours requriements in a year's time. Is it possible?. Although I will try checking with my company for a internal transfer in fiance dept for 6 months period , but is there any way out to satisfy the CMA criteria apart from internal transfer?. My job involves preparation of techno-commercial offer which involves cost estimation of various associated mech equipments & commercial negotiations/agreement?. Can this experience be shown for exemption and will it be accepted by CMA? .

Hi Harihar, I dont think u need to take an internal transfer. Pls check whether ur current job profile match with any of the following areas, recognised by ICMAI for training purpose. If u function in any of the recognised areas, then u can claim exemption from practical training on that basis.

Recognized areas for Training

Management Accounting
Cost Accounting
Financial Accounting
Financial Management
Auditing
Regulatory compliances
Direct Taxation
Indirect taxation
Corporate Laws, Industrial Laws, Commercial Laws
Systems Analysis, Information Technology (including ERP system)
Project Management
Banking Operation
Insurance
Valuation
Financial Services
Teaching in Finance, Accounts, Costing, Taxation and Management.
Management Consultancy Services as defined in appendix 6 under Regulation 111 of CWA Regulation, 1959.
Engineering Services involved in production of power or any manufacturing activities, Project Planning & Management, Quality Assessment, and Supply Chain Management.
Any other areas approved by the Council.

Pls check this link for further details on ICMAI practical training. https://icmai.in/studentswebsite/training_prac_train.php

P.S.Whatever I mentioned above is about indian cma only as I thought ur 2nd question referred specifically to Indian CMA. If u meant CIMA in ur 2nd question too, then just ignore my reply.

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Back in the Game (a) (1273 Points)
Replied 29 September 2014

@ Harihar,This was my thought once i was done with 12th and had allready made a 2+ years in Finance feild.There is no second thinking.Just Go ahead.You thought as hit the nail on the head.Execute it Good luck.

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Harihar (Executive- Sales) (32 Points)
Replied 01 October 2014

Originally posted by : Jithin
	Originally posted by : Harihar 2. Is there any option for me to do CMA , like do some part time job with the firms with profile matching as per CMA requirements and complete the total working hours requriements in a year's time. Is it possible?. Although I will try checking with my company for a internal transfer in fiance dept for 6 months period , but is there any way out to satisfy the CMA criteria apart from internal transfer?. My job involves preparation of techno-commercial offer which involves cost estimation of various associated mech equipments & commercial negotiations/agreement?. Can this experience be shown for exemption and will it be accepted by CMA? . Hi Harihar, I dont think u need to take an internal transfer. Pls check whether ur current job profile match with any of the following areas, recognised by ICMAI for training purpose. If u function in any of the recognised areas, then u can claim exemption from practical training on that basis. Recognized areas for Training Management Accounting Cost Accounting Financial Accounting Financial Management Auditing Regulatory compliances Direct Taxation Indirect taxation Corporate Laws, Industrial Laws, Commercial Laws Systems Analysis, Information Technology (including ERP system) Project Management Banking Operation Insurance Valuation Financial Services Teaching in Finance, Accounts, Costing, Taxation and Management. Management Consultancy Services as defined in appendix 6 under Regulation 111 of CWA Regulation, 1959. Engineering Services involved in production of power or any manufacturing activities, Project Planning & Management, Quality Assessment, and Supply Chain Management. Any other areas approved by the Council. Pls check this link for further details on ICMAI practical training. https://icmai.in/studentswebsite/training_prac_train.php P.S.Whatever I mentioned above is about indian cma only as I thought ur 2nd question referred specifically to Indian CMA. If u meant CIMA in ur 2nd question too, then just ignore my reply.

Thanks Mr Jitin for your reponse and your suggestion. I will look in to this. Although I fall in engineering sector ( manufacturing category), I would also like to know about I- CMAT. Can a full time working employee complete this without availing long leave?. Will the seminars/webinars be conducted generally on Saturdays/ Sundays?. Can this be an ideal option for me so that I can undergo practical training without leaving the job?

Regards

Harihar

Jithin (Learner) (1057 Points)
Replied 02 October 2014

Originally posted by : Harihar
	Thanks Mr Jitin for your reponse and your suggestion. I will look in to this. Although I fall in engineering sector ( manufacturing category), I would also like to know about I- CMAT. Can a full time working employee complete this without availing long leave?. Will the seminars/webinars be conducted generally on Saturdays/ Sundays?. Can this be an ideal option for me so that I can undergo practical training without leaving the job? Regards Harihar

Hi I am really sorry but I dont know much about I-CMAT. I am a CA final student and only have a general idea about the CMA course. Hopefully some CMA or CMA student would soon give u a proper reply. In the meantime u can just call up the nearby ICMAI chapter and make an enquiry about all these matters.

Regards,

Jithin

Harihar (Executive- Sales) (32 Points)
Replied 07 October 2014

Thanks you guys for the valuable suggestion and responses. I contatced the delhi office(CMA training cell ) and below are some which I would like to highlight.

1. They conveyed that I have been exempted from 6 months training since i work in manuf sector.

2. ICMAT is henceforth not available may be cos of lesser no of students getting enrolled.

Thanks

Harihar

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Jithin (Learner) (1057 Points)
Replied 07 October 2014

Originally posted by : Harihar
	Thanks you guys for the valuable suggestion and responses. I contatced the delhi office(CMA training cell ) and below are some which I would like to highlight. 1. They conveyed that I have been exempted from 6 months training since i work in manuf sector. 2. ICMAT is henceforth not available may be cos of lesser no of students getting enrolled. Thanks Harihar