What’s There for a CMA in Finance and Accounting?

The US Certified Management Accountant (US CMA) designation is recognized worldwide with a strong emphasis on corporate finance and management accounting.

In a digital-driven age, several organizations look for CMAs specializing in business strategy and value creation. Over time, CMA's significance has been rising tremendously, thanks to India's economic progress and large foreign business markets. One of the biggest edges of obtaining a US CMA certification is it'll open myriads of opportunities for Indian aspirants.

The CMA designation holds immense respect in the corporate accounting realm. It's mainly designed to gauge critical accounting and accounting management skills. People with a CMA qualification are highly sought-after in the financial accounting domain by the government, private, and education industries.

Further, the certification leaps out as a robust and demanding career choice in India. With the explosive rate at which many businesses transform worldwide, the CMA career scope is expanding in every economic activity.

So, what's driving this Career Scope?

The factors behind the lucrative prospect for the US CMAs in India include:

-Strengthening the banking sector, particularly in the rural areas of India.

-Growth potential in the manufacturing industry and government efforts, such as "Make in India," to promote Indian manufacturers.

-Increasing demand for insurance offerings.

-As US CMAs are experts in cost controlling and business strategy, management consulting firms, including KPMG, Accenture, and EY, recruit US CMAs as business advisors for reshaping the services for various industries.

Job Opportunities after Completing US CMA

As CMAs are in high demand across multiple sectors for various skills, they have tremendous job opportunities in India like those discussed below.

Financial Analyst
Financial analysts determine the purchase and sale of investments. Advanced roles, such as financial consultant, investment partner, or portfolio manager, are the correct options for better growth in this career path.

Financial Risk Manager
Financial risk managers anticipate future trends that can have an impact on the business's finances and devise strategies based on their projections. This job role demands a firm grip on analytical skills, as well as expertise in mathematics.

Cost Accountant
Cost accountants gather, assess, and report details about a business's costs to point out inefficiencies that can be warded off to decrease financial waste and boost profits. Advanced positions, such as senior cost accountant and financial controller, require US CMA.

Chief Financial Officer (CFO)
The CFO is the head of a business's financial decisions, as the finance wing of the C-suite and often working directly under the chief executive officer (CEO). CFOs monitor the company investments, financial reporting, and financial forecasting and make necessary decisions for the business.

Financial Controller
Financial controllers report directly to the CFOs as one of the chiefs of the finance division. While the job is mainly a managerial position monitoring other accountants and accounting executives, it also incorporates converting data into income statements and financial reports and creating financial strategies.

The Future is Bright

The career scope of US CMAs is likely to flourish over the years ahead. As the financial sector evolves, businesses are rushing to find new finance and accounting talent, making the time ripe for candidates to upskill and foray into the field.

Every company needs accounting skills, and every domain within those companies is affected by the work of the accounting crew. So, as long as companies sustain and people need help with taxes and accounting, US CMAs will always remain in demand.

Furthermore, experts reckon that employment in the accounting realm will grow 4% from 2019 through 2029, creating around 61,700 jobs in the marketplace. So, no doubt, a US CMA certification can brighten up the future in the accounting field.

Miles Education is a premier training institute for finance & accounting professionals looking to earn US CMA credentials. The focus of Miles Education has always been to up-skill students and professionals to help them be future-ready and enable their career progression through the US CMA qualification.

Committed to achieving this goal, today, Miles is India's largest and #1 CMA review course! It has been instrumental in building India's CMA ecosystem, holding offices in 9 cities and partnerships with 100+ MNCs, including all of the Big 4s. Miles Education provides student/professional-centric services while keeping concept-based learning at its core which has helped it climb to the top ranks in the US CMA course in India.