A Certified Management Accountant (CMA) is the backbone for the financial planning of a business. The knowledge, experience, and skill of the CMA are of paramount importance. For that matter, all the financial planning, strategic decision, expansion prospects, and risk assessment directly depend on the CMA. A mistake or an erroneous decision can land the company in peril. That is the reason why companies look for candidates with CMA certification only. Proper CMA training, practical coaching, and guidance on theoretical concepts are vital.
The responsibilities of a CMA include:
- Pursuance of governmental orders regarding financial reporting and compliance with the extant regulations. The CMA certification syllabus comprises all the topics related to the aforesaid.
- Tax analysis, tax return calculation, financial planning, and financial decision-making.
- Formulation of financial strategy and determining the way forward to implement it.
- Analytical skills of a CMA help the company or organization in determining the way forward.
- A qualified CMA would be a leader guiding, motivating, and leading the team.
Comprehensive CMA training is what would make the person capable enough to handle multifaceted responsibilities. The CMA certification would be offered post-proper coaching and examination only.
Requirements to Become a CMA
The ICMA has established eligibility criteria for one to become a CMA. Accordingly, a CMA should:
- Possess an active membership in IMA
- The CMA certification exam comprises two parts and the CMA should qualify in both
- Bachelor’s degree from an accredited university is compulsory
- Two years of professional training in the field
The reputed academy like Your Own where you undergo CMA training and CMA certification exams will help you in obtaining the qualification.
Career Path of a CMA – Qualified Professional
CMA training and certification opens a sea of opportunities for you. The CMA will be handling many responsible positions, making him or her an important person in the organization. In turn, the value, status, and salary also go up. A few of the career prospects of a CMA are elaborated subsequently.
- Financial Analyst: The financial analyst would be monitoring the financial statements, expenditure patterns, various financial reports, etc. An analytical report would be prepared subsequently and submitted to the management suggesting the way ahead. Observing the market and ascertaining the market trends and prospects are also the responsibility of the financial analyst. The CMA training curriculum will enable the aspirant to undertake these intricate duties efficiently.
- Accounting Manager: This is another prominent responsibility assigned to a CMA. Those with CMA certification can become accounting managers at leading organizations and business entities. Unlike a normal accountant or a financial manager without CMA certification, the CMA would be handling all the higher responsibilities. Examining various accounts and reports, formulating accounting procedures, finalizing financial policies, and so on are assigned to account managers.
- Cost Accountant: The cost accountant will be recording the expenditures and costs incurred by the firm. All the expenditure data will pass through the cost accountant. Then he or she would take note of the expenses and examine them for correctness. It is the responsibility of the cost accountant to identify irregularities and report the same to the management. In a short sense, the cost accountant will prevent any possible fraud in the company.
- Financial Risk Manager: Risk alleviation is one of the important requirements of any company. At the same time, it is not possible to avoid risky decisions, if the company wants to grow. The financial risk manager would assess the conditions and study the scenario, to propose the possible steps. The business strategies would depend on guidance from the financial risk manager. Now you can imagine how valued a financial risk manager would be. Meticulous CMA training is essential to perform well in this duty. Mere CMA certification may not suffice.
- Financial Controller: Financial controller would normally be controlling and leading the financial department. Performing the duties of a manager the financial controller will head the team and assign them with different tasks.
A CMA has an undeniable role in the strong existence of a company. Therefore, they possess high value. CMA certification is the way to join this promising career. You may connect with us for CMA training in Dubai. Your Own has been the guiding force behind numerous CMAs who are working in the UAE and abroad.
For more info on CMA training, call us now.