Difference Between CA and CMA (With Table)

Study plays a vital role in an individual life. Most people dream of studying higher education and settle in the best designations. Education helps an individual to reach their goals and to settle in future. CA and CMA are the higher education courses where an individual pursues after higher-secondary education.  

CA vs CMA  

The difference between CA and CMA is that CA is the course that an individual handle after the completion of secondary education. CA is the course where an individual can get a job in managing finance and involves in business according to the accounting sector. CMA is the course where an individual can work in the public and private sectors as chairman, managing director and many others.  

Chartered Account (CA) is a course where an individual can choose after secondary education. CA course is established in Scotland in 1854 to settle the accounts. The accountants in Scotland have initiated the professional accounting body. An individual who took up the CA course should focus in-depth. After the CA course, an individual can work in the private sectors and manage the jobs like financial reporting, auditing, taxation, forensic accounting, business recovery, accounting processes and many others. CA is the hard course where an individual must focus and desire to complete the course. People with passion choose this course.  

Certified Management Accountant Course (CMA) is a management course where an individual can choose after secondary education. CMA is similar to CA, where the ultimate aims are different. CMA is a professional certified course where an individual can get credentials in the management accounting and financial accounting fields. CMA certificate manifests that an individual gains knowledge in financial planning, analysis, control, decision making, support and professional ethics.  

Comparison Table Between CA and CMA  

Parameters of Comparison     CA CMA 
Meaning     CA is the higher education course chosen by an individual after secondary education.  CMA is a certified course where an individual chooses after secondary education. 
Abbreviation    Chartered Account (CA) is a managing course in finance.  Certified Management Accountant (CMA) is a certified course in several kinds of management. 
Established     CA course had established in 1854 in Scotland.  CMA course had established in 1959, May.   
Course Time    The duration of the CA course is up to 5 years, where an is interested in taxation and accounting subjects.  CMA course had completed in 6 months in the US, where it takes 3-4 years in India.  
Job    After the CA course, as a Chartered Account, an individual can manage forensic finance, corporate finance, business recovery, taxation, auditing and, an individual can give suggestions, trustworthy information about financial records.  As a Certified Management Accountant, an individual can work as a chairman, managing director, financial control, marketing manager, finance manager, cost manager and many others.  

What is CA?  

CA is the higher study course where an individual chooses after secondary education. After pursuing ICAI in the 12th standard, an individual can take the CA course. Chartered Account (CA) had chosen by limited people whose desire is to become a financial accountant. Chartered Account (CA) had established in Scotland in 1854. CA had a professional accounting body that Scotland people had entrenched for accounting purpose.

An individual should focus in-depth on the subject compared to the other courses. As a Chartered Accountant, an individual can advise people about the truths and information of the financial records. The duration of the CA course is 5 years, where an individual should concentrate on the studies in deep.  

The people who are interested in accounting subject choose this course. Once the CA course had completed as a Chartered Accountant, an individual can work in Corporate Finance, Business recovery, Taxation, Forensic Finance, Auditing and Financial reporting. An individual can acquire knowledge on the finance and marketing courses in CA. An individual can gain the knowledge skills like high-level strategic skills, helping society, various career choices, play a responsible role, a visible path for the future, analyzing and solving problems and demanding their choice by choosing the CA course.  

What is CMA?  

CMA is a certified professional course established in 1959 by the parliament. Certified Management Accountant (CMA) had chosen by an individual after secondary education. CMA had some similarities compared to CA. CMA is a professional certificated course where an individual can get credentials in the management accounting and financial accounting fields.

Time for the Certified Management Accountant (CMA) course had 6 months in the US and, the certificate is recognized globally. An individual can complete the CMA course in 3-4 years in India and, the certificate is certified in India. CMA course is hard to crack where a person should focus on their aims.   

Certified Management Accountant (CMA) is a bit easier course when compared to CA. As a Certified Management Accountant, an individual can possess knowledge, financial planning, analysis, control, decision making, support and professional ethics. An individual can grasp the management designations in the private and public sectors. After the CMA course, an individual can work as Managing director, Marketing Manager, Financial Controller, Cost Controller, Chief Financial Officer, Chief Internal Auditor and many other designations.  

Main Differences Between CA and CMA  

  1. CA, known as Chartered Accountant, is a course based on finance and accounts. CMA a Certified Management Accountant is a course based on the management in accounting and management in financing.  
  2. CA course had established in 1854 in Scotland where, CMA had established in 1959, May.   
  3. The duration of the CA course had 5 years. On the Other hand, the CMA course can complete in 6 months in the US and 3-4 years in India.  
  4. Both are professional accountant courses, but CMA is a bit easier when compared to the CA course.  
  5. As a Chartered Accountant (CA), an individual can manage forensic finance, corporate finance, business recovery where, a CMA graduate can work as managing director, financial controller, marketing manager.  

Conclusion  

After pursuing ICAI in the 12th standard, an individual can take the CA course. Chartered Account (CA) had chosen by limited people whose desire is to become a financial accountant. CA is the course where an individual can get a job on managing finance and involves business according to the accounting sector.  

Certified Management Accountant (CMA) had chosen by an individual after secondary education. CMA is a professional certificated course where an individual can get credentials in the management accounting and financial accounting fields. CMA certificate manifests that an individual gains knowledge in financial planning, analysis, control, decision making, support and professional ethics.  

References

  1. https://www.sciencedirect.com/science/article/pii/S1044500500901422
  2. https://www.tandfonline.com/doi/abs/10.1080/09638180020024070
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