A career option as Cost Management Accountant is one of the best career path with lucrative opportunities in both India and Abroad. Let us look at them below.
Opportunities for CMA in India
- A Cost & Management Accountant can do his / her Own practice as a Cost Auditor Anywhere in India.
- Special Audit under Customs Act, Central Excise Act, Service Tax Laws, Vat Laws of Various States
- Certification Under Central Excise, Customs, Service Tax, Exim Policy
- Surveyor And Loss Assessor
- Recovery Consultant in Banking sector
- Advisor –Business Valuation, Financial services
- Trustee, Executor, Administrator, Arbitrator, receiver, Appraiser , Valuer
- Assignments By the Central or State Governments, Court of Law, Labor Tribunals or Any other Statutory Bodies, Regulatory Bodies, Etc
- Stock Audit for Banks
- Internal Audit and Concurrent Audit
- Insolvency Professionals Under Insolvency And Bankruptcy Code 2016
Consultancy services by CMA
- Financial planning and policy determining
- Cost Management planning And Policy
- Capital Structure Planning and policy
- Working Capital Management
- Project Reports and Feasibility Studies
- Budgeting and Budgetary Control
- Supply Chain Management
- Inventory Management
- Market Research And Demand Studies
- Value Analysis
- TCM, TQM, BPR, Cost Control And Value Analysis
- Control Methods and Management Information and Reporting
- Designing Staffing as per Business process
- Framing Employee Benefit measures
- Management, Operational, Quality Environmental and Energy Audits
- Valuations in Business Re-organizations
- Strategic Positioning, Integration
- System Analysis And Design
- Advisor on Funds Management
CMAs as Employees:-
In Govt Departments & Pvt Institution
- A CMA is eligible to appear in all central Govt Services like UPSC, BANK recruitment Board, Railway Recruitment Board, All Group-I and Group-II services in any state and Union Territory, ICoAs(Indian Cost Accounts Service) Which is equivalent to IAS,IRS, etc.
- Asst Professors, Associate Professors, Professors, Principals, Directors, Head of the Institution, Etc
- Investment Planning, Profit planning,
- Project Management and Overall Managerial Decision Making Process
- As Chairman, Managing Director,
- Financial Controller,
- Chief financial Officer, Cost Controller, Marketing Manager and Chief Internal Auditor, Etc In local Business Institutions As well As MNCs and GOVT organizations
- Cost Accounting, Financial Management
- Financial / Business Analyst, Systems Analysis & System Management
- Auditing, Internal Control
- Tax Management
- ERP Implementation
- Process Analysis in BPO Houses
- Implementing Business Intelligence System
- Academia—– as Faculties
CMAs are recruited by
- Public Sector Undertakings
- Infrastructure Companies
- Public/Private Limited Companies
- Manufacturing and Service Industries
- Insurance, Electricity, Banking companies
Most emerging Areas for CMAs are:
- Total Quality Management (TQM)
- Satisfied Quality Control (SQL)
- Enterprise Performance Management
- Risk Management-Project Enterprise, off Balance Sheet Financing
- Enterprise Governance
- Integrated Reporting
Opportunities for CMA in Abroad
- Cost Management Accountants are purely Post Graduate Professionals and hence, it is recognized globally in all the countries. They can go and work anywhere in the world either in the Govt or MNCs/local Business Organizations.
- An Indian CMA can get enrolled as a member of Institute of Management Accountant (IMA) , USA without clearing any exams.
- Our CMA can get direct membership in Institute of Public Accountant, Australia.
- Our CMA can get the direct membership of Chartered Institute of Securities and Investments (CISI),UK.
- By Clearing only 5 papers in final level (Professional Level)in ACCA, London, UK, our CMA can also become an ACCA, London and get all benefits of it.
- By Clearing only one paper (Strategic Case Study Report) in CIMA – London our CMAs can become the member of the same and also become Chartered Global Management Accountant (CGMA), which is highly coveted and universal qualification. In such ways, our CMAs become globally recognized for job opportunities as well as own practice at Global Level. One should not forget that CMAs as globally recognized and could serve anywhere on the Globe on their respective areas.