3 What is the difference between a CMA a CGMA Give relevant

3- What is the difference between a CMA & a CGMA? Give relevant examples of each.

Solution

CMA:  Certified Management Accountant and is offered by the Institute of Management Accountants, or IMA.

Where as CGMA means  Chartered Global Management Accountant and is offered by through a partnership between the American Institute of Certified Public Accountants (AICPA), which administers the CPA Exam, and the Charted Institute of Management Accountants (CIMA) is Europe’s largest organization of management accountants.

The CMA Exam

Today, it is a two-part, timed computer-based exam. Each part is four hours in length and consists of 100 multiple-choice questions and two 30-minute essays testing cost accounting, internal control and financial management topics.

Candidates must register to take at least one exam part within the first 12 months of entering the CMA program and must complete both exam parts within three years.

After passing the exam and documenting a minimum of two years’ experience in management accounting requirements, candidates can obtain the CMA certification, This Certification has much value.

The CGMA Exam

Launched in January 2015, recently, the CGMA exam is a three-hour computerized case study that requires you carryout three to five management accounting tasks. You are given a data set and industry information (via download) about a hypothetical organization seven weeks prior to your test date. During the exam, new information may be provided that will change the scenario and require you to adapt your answers. Each task must be answered fully in the allotted time.

It is better to do CMA than CGMA because of high reputation of CMA Whereas CGMA has not much reputed and CMA is recognised by all Employees world wide.

So, it is better to do CMA for a serious management accountant.