What is Course CMA?
CMA is one of the highest levels of certification course in Management Accounting. This certification course is awarded by the Institute of Management Accountants (IMA) USA, which is recognized worldwide. The abbreviation, of course, CMA is Certified Management Accountant.
The CMA USA examination is completely computerized. This certification exam can be taken at hundreds of Prometric centers globally. The CMA program helps applicants to take the examination at their own convenient time.
This CMA certification exam contains 2 parts examination, with this, also need 2 years of full-time experience appropriate to management accounting. This certification exam covers overall of a junior management accountant which normally come across in everyday work environment. This covers topics such as –
- Understanding of the three Financial Statements of Accounting
- Budgeting and Planning
- Performance Analysis and Cost
- Internal Control.
This course also covers the finance side of managing a company, such as –
- Multiple choice questions
- Written communication
- Task based simulations
A CPA professional is one who has achieved a professional designation through the integration of education, experience and licensing.
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What is Course CIA?
CIA is the only professional certification nominated for Internal Auditors is accepted worldwide. This certification course is awarded by the Institute of Internal Auditors – USA. It is one certification, which is recognized worldwide for Internal Auditors. The abbreviation of course
CIA is Certified Internal Auditor.
The CIA USA examination is completely computerized; applicants can appear from any 500 examination centers. Applicants are no need to go USA to attend the examination they can appear for the exam from their home country itself. The CIA certification examination centers are situated almost in every country worldwide. This CIA course is a combination of both theoretical and practical training. The CIA program helps applicants to take an examination at their own convenient time.
To occur for CIA certification Examination, the applicants must have eligibility criteria such as
- Applicants must have a bachelor’s degree or equivalent education
- Charted Accountant as International professional designation can be accepted as equivalent qualification
- Students who are full time in universities and are in their final year can enter to CIA program and can appear for the examination For an applicant to complete the CIA certification examination is 4 years. If the applicant fails to complete all CIA certification examination papers within 4 years, then all his / her examination fees and modules cleared are forfeited
The CIA certification examination is divided into3 parts such as –
- Internal Audit Basics
- Internal Audit Practice
- Internal Audit Knowledge Elements
Duration: 2.5 hours, Total Questions: 125
Duration: 2 hours, Total Questions: 100
Duration: 2 hours, Total Questions: 100
Applicants those are appearing for CIA certification examination should also have a minimum of 24 months (2 years) of Internal Audit experience. The work experience requirement can be met after the appearance of CIA certification examination. Then the CIA certification will be awarded after once all the CIA program requirements are fulfilled.
Difference between CMA, CPA and CIA Courses in Accounting and Auditing
| CMA | CPA | CIA |
|---|---|---|
| Stands for Certified Management Accountant. | Stands for Certified Public Accountant. | Stands for Certified Internal Auditor Accountant. |
| This certification is awarded by (IMA) USA. | This certification is awarded by (AICPA) USA. | This certification is awarded by (IIA)USA. |
| Deals with Financial Analysis and Corporate Finance. | Deals with External Audit. | Deals with Internal Audit. |
| This course is meant for Professionals who wants to work for Corporations or in Financial Departments during IRS. | This course performs audits and is involved in lots of tax work, especially audits process in the company. | This course deals with finding out fraudulent act and internal audit. |
| Need 2 years of managerial work experience. | Need 5 years of work experience in related field. | Need 7 years of work experience in auditing field. |
| This exam consists of 2 parts. | hThis exam consists of 4 parts. | This exam consists of 3 par |
| To qualify this exam 3 years is neede | To qualify this exam 2 years and 6 months is needed. | To qualify this exam 4 years is needed. |
| Overall recognition is moderate. | Overall recognition is very excellent. | Overall recognition is moderate. |
| Industry recognition is good. | Industry recognition is very excellent. | Industry recognition is moderate. |
Conclusion
Today you have lots of globally recognized certification courses in Accounting and Auditing. Now it is up to you to choose the best one which will suite as per your requirement for your career growth. So hope this article will give you the knowledge to understand better and take the right decision for your professional career path to success. To know further you can log on to our website
