If you want to build a career in accounting but not sure which course to choose, then you must read this article. There are several courses in finance and accounting that you can pursue in order to build a successful career in the field. ACCA and CMA course are two such professional certifications in accounting that are highly regarded across the world.
In the financial sector, you will be prepared and desirable to employers across multiple opportunities after pursuing either of these two courses. But ACCA vs CMA – which will be better for you? This question can only be answered once you know all about the ACCA and CMA courses.
Continue reading to know and understand the difference between ACCA and CMA and figure out which one of these courses is the right one for your professional career.
Before opting for ACCA study, let us understand more about it! ACCA stands for the Association of Chartered Certified Accountants, which is an internationally recognized educational body offering accounting qualifications. ACCA has a community of over 241,000 members across 178 countries including Dubai. ACCA offers knowledge of accounting and finance and ethical values required in organisations across industries.
“More than 542,000 students from about 180 countries have passed ACCA.”
• Requirements to Qualify for ACCA Study
You can study ACCA in Dubai and get the qualification after fulfilling the following criteria:
With these parameters, you need almost three years to complete the ACCA qualification.
• ACCA Course Eligibility Criteria
You don’t need to fulfil formal requirements to study ACCA in Dubai. Generally, you can study an ACCA programme no matter if you have an academic background. However, the basic eligibility requirements to pursue an ACCA study include:
If you don’t have these qualifications, you can join ACCA via Foundations in Accountancy (FIA) route and later progress to ACCA qualification.
• Why Choose ACCA Course?
As an ACCA member, you will gain the tools to take businesses to the next level. You will become a strategic thinker and a person with high integrity along with excellent financial understanding. Besides gaining the ACCA Qualification, you will earn the following during your qualification:
Certified Management Accounting (CMA) is an internationally recognized accounting course. CMA is certified by the Institute of Management Accountants (IMA), which offers licences to students after pursuing the CMA course. A CMA-qualified professional gains experience in financial decision-making with a strong understanding of key accounting principles. As a certified CMA professional, you can work in corporate financial accounting, strategic management and many other career paths.
• What is the Process of CMA Training Courses?
The CMA Qualification has two exams, which you need to complete within 12 months.
CMA Part 1: Financial Planning, Performance, and Analytics
CMA Part 2: Strategic Financial Management
After the successful completion of both exams, you will receive the CMA credential. These credentials will allow you to practise as Certified Management Accountant.
After pursuing a CMA course, you will gain these two advantages in your resume:
CMA training courses will allow you to begin an exciting career journey filled with the required skills and qualifications. If you want to become a successful management accountant, check the eligibility criteria below for the CMA course.
• What are CMA Course Eligibility Criteria?
To earn the CMA certification, you will be required to meet the following standards:
Note: If you do not have a bachelor's degree in an accounting domain, you can also earn a professional certification.
• Why Pursue CMA Course?
CMA focuses on developing countries in general by offering accounting courses. When you finish your CMA, you will have the skills and expertise to work for any Fortune 500 company.
The CMA training course offers both certification and open doors for career opportunities with higher compensation.
As a CMA candidate,:
Are you confused between ACCA or CMA – which is better?
ACCA and CMA are both recognised qualifications for finance professionals in Dubai. The Government of Dubai has issued special regulations to practice either profession according to the need. Let us see the key differences between the CMA and ACCA courses as given in detail below:
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You now have a more detailed understanding of the differences between ACCA and CMA. Both courses are valuable in their respective fields, but it’s important to look carefully at which pathway is best for the future career you want.
When it comes to choosing the right course, you must do a lot of research to gain a clear understanding. Choosing which is better depends only on which course fulfils your needs. It is essential to understand the course requirements and the job opportunities available for both courses.
Both ACCA and the CMA are valuable qualifications that can help you pursue a successful career. Be sure to do your research before deciding on which one is right for you!
If you need further assistance, connect with the GBS Dubai academic support team.
The key difference between CMA and ACCA is their global presence, the difference in salary after pursuing either course, pass percentages and value addition to the world and the candidate’s resume and skill set. Both courses open multiple career opportunities across the world. ACCA trained you to become Auditor, Tax consultant and financial advisor etc. but on the other hand CMA is more inclined towards management accounting and corporate sector jobs.
Both CMA and ACCA are accounting and finance courses that have their own features and benefits. Both ACCA and CMA offer jobs in the accounting and finance sectors but have key differences. For detailed differences, you can read the above table for more information!
Yes, you can do the Certified Management Accountant (CMA) course if you have done the ACCA. Even if you do not have a bachelor's degree but are a member of ACCA, you can go for the CMA afterwards.
Depending on where you want to pursue these courses and want to work, the cost of these courses will vary. But we suggest you must understand the key criteria of both the courses and what they offer.
The pass percentage for CMA is nearly 20%, while the pass percentage for ACCA lies between 40-50%. The difficulty level of both courses depends on your prior understanding of the subject, level of practice and learning progress.
Both the ACCA and CMA are reputable and highly valued in their respective fields. Any course is best if you feel that it matches your requirements. Consider reading this write-up in full to find the key differences between ACCA and CMA in detail.
GBS Dubai offers a wide range of industry-focused education courses, designed to fit around your busy schedule.