Difference Between CMA and CIMA

The full form of CMA is Certified Management Accountant, and students will only need to clear one level for obtaining this degree. In contrast, the full form of CIMA is the Chartered Institute of Management Accountants, and the students pursuing this course will need to clear three levels for obtaining the degree of this course.

CMA examCMA ExamCMA is a certificate course offered by the IMA. Here are a few exam tips: 1) Don’t panic if you don’t know the answer 2) Don’t get distracted during the multiple-choice section. 3) Keep track of the time and increase your speed.read more and CIMA certificationCIMA CertificationThe CIMA qualification is a globally recognized credential offered by the Chartered Institute of Management Accountants in UK to individuals interested in pursuing a career in the specialized field of management accountancy.read more hold such lucrative opportunities for management professionals abroad that often leave many confused about what to pursue. We help you understand the differences because we understand how difficult it is to build a career as a management professional. Just read on.

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Below is the flow of the article –

What is a Certified Management Accountant (CMA)?

The CMA or Certified Management Accountant is a globally recognized certified program offered by the U.S.-based Institute of Management Accountants. This certificate is a great attribution for management professionals looking to advance their knowledge and skills in the financial management field.

The course equips a professional with skills in financial planning, analysis, control, decision support, and professional ethics. A CMA-certified professional can avail the opportunity of working in different sectors in a management capacity.

They can work in industries and organizations, including manufacturing and services, public and private enterprises, non-profit organizations, academic institutions, government entities, and multinational corporations.

What is the Chartered Institute of Management Accountants (CIMA)?

The Chartered Institute of Management Accountants, a UK-based body, offers this certified course to help management professionals develop their knowledge and expertise in management accountancy. The course provides training and qualification to allow accountants to attain mastery over the subjects related to this field.

It provides a good grounding and insight into how the different areas of accounting relate to the business world. This accounting qualification is most relevant to the current times and trends of the industry, helping individuals unleash their talent and accelerate their careers in the business field.

The course is a knowledge refresher and a bridge to the CIMA Professional Qualification. CIMA-trained people work in the commerce industry, management consultancies, banks, and not-for-profit and public sector organizations.

CMA vs. CIMA Infographics

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Educational Requirements

CMA vs. CIMA – Comparative Table

Why Pursue CMA?

  • CMA enjoys a strong global presence and is much more recognized and accepted by employers across the nation.It finds favor with students and professionals alike due to its fast-paced completion.The CMA course is divided into two parts, and most of the candidates complete the course in 12 to 18 months.However, one must keep in mind that the minimum qualification requisite remains a bachelor’s degree from an accredited university.CMA entitles an individual with an advantage in the job market as the course develops your decision-making capability allowing you to produce results in a critical situation for your company.Also, the CMA certificate brings more visibility to a candidate’s resume and allows an employer to evaluate the professional’s ability to be suitable for higher positions in the company.CMA is a course that specifically targets improving your skillset and thus is a much more relevant educational experience.The CMA course study is very relevant to modern-day situations, and it does not limit its scope for financial professionals. The very obvious reason is CMA designation holders are paid 30% more than their non-certified colleagues, and it is a must to do the course if you want to build your career in corporate accounting.

Why Pursue CIMA?

  • Traditionally, it is a known fact that CIMA enjoys a better global presence than CMA due to its tie-up with CommonWealth countries. Thus employers understand the experience, knowledge, skills, and professional commitment that a CIMA will bring to the table.Moreover, the course is designed to impart financial education to the candidates and equip them with the skills in business management, capable of advising on business strategy and risk management.CIMA boosts your earning potential while preparing you for roles in the business and finance sectors. Also, CIMA is not rigid in its idea of the prerequisites required to be eligible for the exam. Thus a wide range of professionals are open to give the exam, creating wider job opportunities.

Conclusion

There is neither an easy qualification nor a better one, which makes it easy and better is your dedication and determination to achieve it. Thus make your decision wisely, keeping your long terms in mind before choosing a program for yourself.

  • Part I – Financial Planning, Performance and Analytics

  • Part II – Strategic Financial Management

  • Financial Reporting Decisions

  • Planning, Budgeting & Forecasting

  • Financial Statement Analysis

  • Corporate Finance

  • Cost Management

  • Performance Management

  • Internal Controls

  • Decision Analysis

  • Risk Management

  • Investment Decisions

  • Technology & Analytics

  • Professional Ethics

  • Management Accounting

  • Finance Management

  • Strategic Marketing Management

  • Business Accounting

  • Information Management

  • Financial Risk Manager

  • Cost Accountant

  • Financial Consultant

  • Financial Analyst

  • Internal auditor

  • Business Analyst

  • Forensic Analyst

  • Finance Controller

  • Management Accountant

  • Project Manager

  • Operational level – 46%

  • Management level – 69%

  • Strategic level – 68%

  • Jan 01 – Feb 28

  • May 01 – Jun 30

  • Sep 01 – Oct 31

  • Feb 09-25

  • May 11-27

  • Aug 10-26

  • Nov 09-25

This has been a guide to CMA vs. CIMA. Here we discuss the key difference between CMA and CIMA along with infographics to help you choose the right management professional. You can learn more from the following articles –

  • CMA vs. ACCAACCA or CMA – Which is better?CIMA or CFA CFP vs CIMA – CompareACA vs. CPA – Are They Similar?