What Employers Are Looking for in CMA (USA) Employees

The CMA or Certified Management Accountant certification is offered by the Institute of Management Accountants (IMA), United States. It has been one of the most respected professional credentials in the accounting and financial management sectors around the world for more than four decades. This is primarily because of the knowledge and skills that are usually guaranteed in any candidate holding the certification. CMA candidates are highly sought-after employees, and have historically been one of the most well-paid professionals in any field, even at the beginning of their career.

But as businesses evolve to become more digital, collaborative, creative and global, employers are looking for much more than just knowledge in the financial sciences from their CMAs. In the following paragraphs we explore a few skills that can give CMAs a leg up in their professional endeavours and in their long-term career.

Technical Skills

The new digital business landscape calls on all professionals to embrace and build technical skills or risk becoming irrelevant. While basic computer literacy is critical in the daily operations of any CMA professional, it is always a bonus if you are easily able to adapt to new technologies. This is because the evolution of technology is perpetual and continuous, and employers want people who not only excel with the software they use today, but are also technically prepared for what is to come tomorrow.

Analytic Skills

As the IMA website states, CMAs should be capable of explaining “the ‘why’ behind numbers, not just the ‘what.'” The age of big data calls on financial professionals to develop the ability to look at large sets of numbers and draw insights that can help businesses with their long-term strategies. Developing an analytical outlook on ideas can also help you to come up with innovative solutions for the varied and often complex financial issues that plague modern businesses. The right CMA USA course can help you gather the knowledge that will become the foundation for these analytical capabilities.

Interpersonal Skills

As the internet spreads to encircle the world, it shrinks the planet that we live in. Modern professionals should possess the skills to work successfully and collaboratively within teams that are often spread across the world. Also, most companies believe that it is only employees with a certain degree of interpersonal skills who can perform well in leadership roles that require them to manage large teams of different individuals of varying capabilities, while building cohesion within the enterprise.

The Pursuit of Knowledge

Yes, this is a skill. We are in one of the most transformational phases in world history, and are gathering new knowledge at a pace that is unprecedented. This means that professionals in any industry must imbue themselves with the mindset of continuous education. These new skills can be in the financial and management sciences or even professional capabilities and soft skills. Candidates that are receptive and ready for new knowledge are always sought after by employers, because they have a higher probability of professional growth and the abilities necessary for taking on complex responsibilities.

Developing the skills listed above can not only help candidates stand out in the crowded and competitive job-space, but also build a more successful and meaningful career. Your CMA USA coaching centre should be able to advise you on how to start building these skills and maintain the habit throughout your professional life. We wish you a successful career ahead.

CMA or CPA: Which One Should You Choose?

Students of Accounting and Finance often have a tough time choosing between Certified Public Accountant (CPA) and Certified Management Accountant (CMA) certifications. Both are of equal value – the deciding factor is the type of career path you want to take. Here are the points you need to consider before choosing to go for CPA coaching or CMA coaching.

Type of Enterprise

If you foresee a career in a public enterprise, then the CPA certification is for you. But if you, like many students, wish to join a private or corporate industry, then a CMA credential is ideal.

Scope

While the CPA designation is exclusive to the US, the CMA is a globally recognised designation. Indian students who wish to pursue an accounting career in the United States may opt for a CPA, while those who desire to pursue global financial management positions are good candidates for a CMA.

Salary

Factors like experience, job title, industry and location determine the salary that CMAs and CPAs can earn. CPAs on an average tend to earn 15% more than non CPAs whereas CMAs tend to earn 60% than non-CMA professionals.

Core Strengths

If your core skills are in the areas of compliance and regulation, taxes, audits, attestation and reporting, then you should consider going for a CPA. If your focus is in the areas of corporate finance, reporting, planning and decision making, a CMA might be the qualification you need.

Benefits

While CMA and CPA are highly valued certifications, they have different advantages. CPA is seen as highly desirable for both public and corporate enterprises in the US and offers more options. But a CMA qualification provides a practical, ground-based approach to accounting and finance and can demonstrate that you have a head for business as well as accounting.

Requirements

According to the American Institute for CPA’s, the representative body for the CPA profession, you’ll need a four years bachelor’s degree or equivalent qualification in accounting and business related courses and a couple of years under the supervision of a qualified CPA. Aspiring CMAs require a bachelor’s degree and two years of management accounting or financial management, along with membership in the Institute of Management Accountants.

Whichever certification you choose, it will be a substantial investment in your future career. Choose wisely and work hard.