Certified Management Accountant Careers: Are you an aspirant of CMA??? Want to know about the career prospects The Certified Management Accountant (CMA) certification is a globally recognized credential focusing on management accounting and corporate finance. The certificate is issued by ICMAI.
The field of CMA is highly diversified and, it unlocks many new and exciting job opportunities. CMA provides a place with abundant growth, enhancement, and excellent job security.
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Certified Management Accountant Careers in India
The responsibilities of Certified Management Accountants are to utilize their decision-making, planning, and performance management skills to provide expert advice to companies and firms. They create and implement a financial strategy that will benefit their organization.
Management Accountant
- Do you thrive off planning and strategizing? Then Management accounting could be a path for you.
- The CMA careers require the ability to plan and strategize, as a management accountant, you are required to plan and strategize the budget so that your company’s top managers and executives will be able to make risk-assessed decisions about their financial future.
- If you are an expert in accounting, you must also possess skills that allow communicating this data in a better understandable way for non-experts. High-level communication skills are a must.
- You can find management accountants in both the private or public sectors ex:-businesses, government agencies etc.
Financial Analyst
If you are interested in studying market trends and the microeconomic aspects of finances, then a financial analyst is a great career option. The duties of financial analysts are rendering advice to businesses on how to issue corporate bonds or split stock, as well as perform financial research and analysis to provide information on the business profitability, stability, liquidity, and solvency. A financial analyst can work anywhere from a bank or an insurance company to a start-up or global enterprise.
Cost Accountant
- Cost accountant’s key responsibilities are recording and analyzing every cost incurred by a business.
- They utilize this information to identify where the company is losing its money and work on improving its financial management. The duties of a cost accountant include identifying assets and liabilities.
Making capital account entries, documenting financial transactions, making financial recommendations based on the analysis of financial history. Cost accountants can work in retail sectors, consulting firms, or directly within a business or corporation.
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Accounting Manager
- Accounting Managers develop accounting systems that are used to collect and analyze data.
- Their job description includes supervising daily operations, monitoring and analyzing data, creating financial statements and reports, as well as upholding strict accounting policies and principles, supervise other accountant’s work.
- Accounting managers generally work in large companies or organizations where there are multiple accountants employed.
Staff & Senior Accountant
- Senior accountants don’t perform typical administrative tasks.
- Their responsibilities are reporting cost margins, productivity, and expenditures within a company. Their job includes tasks such as, preparing month-end procedures, reconciling accountant balances, and maintaining a general ledger.
- They are expected to mentor junior staff, as well as look after the accounting duties of other accounting teams and departments.
- A senior accountant should have accounting skills, years of experience, and communication and leadership skills besides management accounting skills.
Chief Financial Officer
- CFO is one of the top positions in a business and is often considered as the CEO’s right hand.
- CFO’s look after everything related to business, for example:-from financial reporting and forecasting to the company’s investments and financial business decisions.
- The most crucial job performed by a CFO is tracking cash flow, analyzing their financial strengths and weaknesses, and proposing corrective actions. It takes years to develop the unique skills required to become a Chief Financial Officer, but it is easy through CMA.
Certified Management Accountant Careers: Frequently Asked Questions (FAQs)
- What is the salary of a CMA?
The average salary of a CMA ranges between $98000 to $102000.
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- What are the various sectors a CMA can work?
More than 30% of CMA’s work in the manufacturing sector, the remaining 70% work in sectors like education, transportation, agriculture.
- What is the scope of CMA in other countries?
CMA’s demand has been increasing rapidly. If you want to make your career in Finance overseas then you should consider this course.