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Should i go for cma?

17 September 2015

Hello experts,

I'm Vinayak, I have a question related to my career.I'm an average student, but I know my ability and I can pass any exam if I concentrate,

I read somewhere that CMA doesn't have a good scope in the future for any cost and management accountant, but I think in the near future cost accountant needed in huge amount because of Indian government Make In India plan.

Our government is focusing on the production in India, so it is good for Cost and Management Accountant?

I'm eagerly waiting for answer.

Thank you

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6 Replies

Pavan Kulkarni (Accounts Assistant) (49 Points)
Replied 17 September 2015

You haven't provided your educational background or work experience. So answering your question becomes tricky but I shall try to explain what CMA does.

CMA'S are special class of professionals who work in the area of costing and management reporting. They provide vital information to the board for making decision. They are valuable to any company

Having said above by merely passing CMA you cannot expect we'll deserving career. You have to compete with lot of other professionals like CAs and MBA .

Please go through the syllabus and also your interest before jumping into CMA path.

I wish you all the best .

2 Like

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PC DAVIZ (Company Secretary) (304 Points)
Replied 18 September 2015

CA CS CMA Finance professionbals

Active CMA are only 30000 in India out of which 20000 are CA holders-Holding 2 qualifications.

Active CS only 25000 in India out of which 18000 are CA & CMA holders

A number of persons are already having 3 qualifications.

CA & CMA Syllabus (New) more or less same.

CS Syllabus is also more or less same where as some area more concentrated on legal and less in Accountancy.

While doing Plus Two go ahead for CA CS CMA at a time and while articleship take one additional course,there after finish balance.Accordingly one can become CA CS CMA at the age of 23/24

Select one ares as your profession.

Recruitment forum it is seen that majority of them having 3/2 Qualification.

Normally they will give weightage to 3 in one,then 2 in one and single qualification.

For Practicing one Qualification is enough

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TARAK NATH (Dy.Manager (Finance)) (196 Points)
Replied 22 September 2015

Active CMAs are only 30000 and out of which 20000 are CAs -- this is not true , Currently there are 78000 CMAs as per members register, again 20000 are CA is not also true because there is no such information available from the institute. As govt. is stressing on MAKE IN INDIA policy, due to this manufacturing process is bound to increase and without Cost and Management Accountant Manufacturing in India can not grow,So you can see there will be huge increase in the demand of CMAs. Go ahead with your dream to become Cost and Management Accountant.

2 Like

Vinayak Sharma (B.Com) (18 Points)
Replied 22 September 2015

Hello Sir (TARAK NATH),

Firstly thank you for your positive reply.I want your suggestion on MBA, after clear CMA which MBA program should I choose?

TARAK NATH (Dy.Manager (Finance)) (196 Points)
Replied 22 September 2015

After becoming Cost and Management Accountant, lots of opening will be coming to you , you can do CIMA, by passing a single paper , you can do ACCA , by passing only 4 papers(pls check the same).Need not require to do ordinary MBA,Go for gobal qualification with bright future.

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TARAK NATH (Dy.Manager (Finance)) (196 Points)
Replied 22 September 2015

After becoming Cost and Management Accountant, you will have lots of opportunities, you can do CIMA,only by passing a single paper.You can do ACCA, only by passing 5 papers (pls check the same) around 10 papers are exempt.You can do CISA ,no need to give papers , ICAI-CMA has IS and Control Audit Course which has mutual recognition with CISA. So, no need to go for ordinary MBA. Go for international qualification.Have Bright future ahead with your CMA qualification.