4 Value Points of Having a CMA Certification in Dubai
The title of Certified Management Accountant is highly anticipated and desired in the finance and accounting industry. However, like any other highly esteemed profession, becoming a CMA is a lot of hustle. One element that opens routes to a successful career as a CMA is acquiring the valued CMA certification.
The CMA certification is handled by the Institute of Management Accountants after successfully clearing the CMA part 1 and CMA part 2 exams. Enrolling in a good CMA course in Dubai and earning this certification adds extra stars to your resume giving you an opportunity to settle for careers that promise higher pay, more benefits, and better job opportunities.
In this article, we will discuss some reasons why sitting for the CMA certification exam can provide a good push to your career prospects. But before that, let’s dive into justifications of why the CMA profession is the best career option.
Who is a CMA?
The Certified Management Accountant is a deemed accounting designation that proves one’s proficiency and expertise in financial accounting and strategic management. The day-to-day services of certified management accountants involve looking after company investments, risk management, budgeting, planning, strategizing, and decision-making. Additionally, they also prepare data to be used within the company.
Some very important tasks performed by a CMA include:
1) Cost Management: A CMA looks into the planning, controlling, and management of the budget. They design strategies to monitor the expenses of expected costs while the project is still being planned so as to not cross the line with the cost of the management plan. They also design and implement cost management structures to keep the overall budget of the business under control.
2) Financial Reporting: CMAs fulfil their responsibilities of managing and preparing financial reports. They prepare documents that include financial statements, income statements, balance sheets, statements of cash flows, prospectus, and annual reports.
3) Performance Management: Analyzing and monitoring the performance of the organization in the financial sector is important to enhance employee performance within the workplace. This task is taken up by a CMA by understanding the organization’s goals and accordingly planning performance measures and targets.
4) Budgeting: CMAs carry out the planning and budgeting of annual operations by successfully communicating plans and motivating employees and managers to work for the organization’s goals. While doing so, they also look after the activities and performance of the managers.
5) Decision-Making: The vital decisions pertaining to investments are taken up by a CMA. this is carried out by looking into the number of funds to be deployed in the investment opportunities. In doing so, they also focus on the uncertainty and risks involved in the investment.
4 Benefits of Having a CMA Certification:
1) Global Demand
CMA is a global accreditation. The IMA has labelled this profession as being the “global benchmark” for any professional in the management accounting and finance profession.
The possession of this certification allows the candidate to explore international career opportunities.
2) High Payscale
As compared to any other commerce student, a candidate with the CMA certification have higher chances to avail of job opportunities with higher salary packages. Studies have revealed that professionals with CMA certification earn up to 67% more than other aspirants with just a degree. This is supported by the international demand for CMA-certified candidates in the job market.
3) Business Opportunities
With CMA, the candidates gain experience in business strategies, corporate governance, responsible accounting, and other important aspects of the accounting and finance sector. With this experience, the CMA professional is open to numerous opportunities, such as taking part in the decision-making process and working for major companies such as Accenture, Google, Amazon, etc.
4) Respect in the Field
With the CMA certification, you achieve mastery over topics surrounding business, finance, and accounts. This understanding elevates your respect in the field as your opinion is valued and considered to benefit the overall development of the organization. Candidates with a CMA certification also have the capability of becoming a CFO in the future.
The benefits of a CMA certification are clearly in abundance. The lucrative salaries and the progressive nature of the profession have made it a top choice among the candidates. If you are someone who is confused about taking up the CMA exam, it is high time for you you stop contemplating and just go for it. Because there is no doubt in the fact that the CMA profession will prove to be rewarding throughout your life.