Today’s financial landscape is highly competitive, and professional certifications are essential to build a career in finance. The two most sought-after qualifications are CA vs CMA which is easy. Choosing between Chartered Accountancy (CA) and Certified Management Accountancy (CMA) is a crucial decision for finance professionals. CA offers comprehensive financial expertise in accounting, auditing, and taxation, while CMA focuses on strategic financial management. However, aspirants often question the difficulty of CMA vs CA which is better.
This blog will explore the differences between CA vs CMA which is easy to help individuals make the right decision. Choosing a career is a lifelong decision, and both courses aim to achieve the same goal. Understanding these differences will help individuals make the right choice and ultimately determine which program is better for them.
Table of Contents:
CA vs CMA: An Overview
Both CA and CMA are professional-certified courses offering different focuses and career paths in the finance and accounting fields.
Chartered Accountant
CA provides comprehensive financial expertise in auditing, taxation, and regulatory compliance. It is an ideal qualification to be attained by professionals who are inclined towards public accounting. This is also the main reason for its limitation to geographical boundaries as every region has its own set standards of accounting.
It takes around 5 years to complete and the CA has to undergo 3 stages to become a chartered accountant. Chartered Accountants are regulated by the Institute of Chartered Accountants of India (ICAI) and the associate members of the ICAI are entitled to add the prefix CA to their names.
Certified Management Accountant
Unlike CA, CMA provides professional expertise in management accounting. The CMA certification is offered by IMA, Institute of Management Accountants. CMA professionals work closely in high-level roles to responsibly make financial management decisions.
CMA can be completed within a year after passing the exams divided into 2 parts. It is an application-based advanced course that equips professionals with all the industry-relevant skills to excel. Whether you pursue CMA after graduation or after 12th, it offers a solid foundation in management accounting and financial analysis. Opting for a CMA course can significantly enhance your career prospects by providing the technical expertise and strategic decision-making skills highly valued by employers.
What is the Difference Between CA and CMA
Knowing about the details will help us know more about CA vs CMA which is easy. The table below briefly describes the difference between CA and CMA.
CA vs CMA | ||
| Feature | CA (Chartered Accountant) | CMA (Certified Management Accountant) |
Focus | Financial reporting, auditing, taxation | Cost management, strategic financial planning, performance analysis |
Examination | Conducted by the Institute of Chartered Accountants of India (ICAI) | Conducted by the Institute of Management Accountants (IMA) |
Scope | Broader scope, covering various areas of finance | More specialized focus on management accounting |
Career Paths | Auditing, taxation, financial reporting, corporate finance | Cost accounting, financial planning, budgeting, performance analysis |
Salary | Generally higher than CMA | Can be competitive, especially in specialized roles |
Global Recognition | Highly recognized globally | Recognized globally, especially in the US and Canada |
Flexibility | More flexibility in terms of work experience and study | Requires a bachelor’s degree and work experience |
Exam Difficulty | Considered more challenging | Considered less challenging than CA |
Time Commitment | Typically takes longer to complete | Can be completed in a shorter time frame |
Now let us discuss the different aspects of CA vs CMA which is tough, to analyze which one you could opt for. The difference between CA and CMA is as follows in detail.
CA vs CMA Eligibility
To become a CA, you need to have a +2 pass certificate from any recognized university and complete four months of study after registering with the Board of Studies. However, CMA eligibility asks you to have passed +2 or Graduation in any discipline other than Fine Arts or passed Foundation of ICSI/Intermediate of ICAI.
CA vs CMA Course Duration and Fees
Chartered Accountant Course Duration and Fees
CA takes approximately 5 or more years, so the CA course duration is longer. The chartered accountant course duration takes more as it takes months to complete the syllabi. If we talk about the CA fee, it ranges between INR 2.5 Lacs to INR 3 Lacs.
Certified Management Accountant Course Duration and Fees
CMA can be done within a year, so the CMA course duration is shorter. The certified management accountant course duration takes a year because students have to appear for only two exam parts, covering key management accounting topics. The CA vs CMA course duration and fees both vary depending on the course type and its focus. So, the CMA fee is INR 53000 accounting from
- CMA Foundation: 6,000 rupees
- CMA Intermediate: 22,000 rupees
- CMA Final: 25,000 rupees
CA vs CMA Syllabus
The syllabi of CA and CMA have some common similarities but the key differences lie in the specialization part. CMA includes more subjects related to cost accounting & statistics while CAs study more accounts and tax.
CA vs CMA Difficulty Level
The difficulty levels of both the certifications are the same but the CA difficulty level is considered more as compared to CMA. CA duration is long and candidates have to pass more exams than in CMA. Wondering! Is CMA difficult than CA, read further to know more.
CA vs CMA Exams Controlled By
The CA exam is controlled by The Institute of Chartered Accountants of India (ICAI), while the Institute of Cost Accountants of India (ICMAI) controls the Cost and Management Accounting (CMA) exam.
CA vs CMA Pass Percentage
The CA vs CMA pass percentage can vary. The CA exams typically have a pass percentage between 10-15% due to the rigorous course. CMA exams have a higher pass rate, ranging from 40-50%, which depends on the exam level and region.
CA vs CMA Salary
Considering CA vs CMA salary, the average starting salary of CA is ₹6–8 lakh per year with a potential salary of up to ₹25 lakh for rank holders. On the other hand, CMA’s starting salary is ₹5–7 lakh per year and they can potentially earn up to ₹42.50 lakh for high-ranking job roles.
After going through these points to differentiate CA and CMA, you must have got to know, What is the difference between CA and CMA. Now, you can make your decision wisely and choose a career path that fits right for your career goals.
CA or CMA which is better for Your Career Path?
If you want to choose a career path between CA or CMA which is better, then it is preferably suggested to consider your skills, interests, career goals, and personal preferences. Both of these qualifications offer distinct advantages, but they cater to different paths within the finance and accounting industry.
You can choose CA if you are interested in public accounting, auditing, taxation, or legal compliance. By studying these, you can work for auditing firms, government agencies, or tax consultancies, mostly in India and Commonwealth countries. It has a longer curriculum to mug up and you shall dedicatedly study for 5 long years and earn an articleship as well to become a CA. So, if a question like Is CMA better than CA, then let us just discuss that in brief as well, jotting down all the key points.
CMA suits individuals who want to specialize in cost and management accounting, including budgeting and decision-making. CMAs work as finance managers, financial analysts, chief financial officers, financial controllers, corporate controllers, chief investment officers, and cost accountants. By studying for a year or so, you work at higher designations and play a crucial role in the company’s financial decisions. Now what do you think? Is CMA difficult than CA? See if you have to make a decision on choosing between them then, also consider the CA vs CMA pass percentage along with CA course duration and fees, vs CMA course duration and fees.
Before deciding on anything, consider the course structure, its curriculum, the demand for professionals, exam difficulty, duration, fee, and other key factors. Therefore, make the right decision that aligns with your interests and career goals.
Conclusion
It is an important decision to choose between CMA vs CA which is better but read the article above enlisting the key differences to make the right decision to choose any one out of them.
FAQ’s
Who earns more, CA or US CMA?
CA earns more in the Indian market but if we consider CMA working in the US, then obviously they can make more money in dollars.
What is the salary difference between CA and CMA?
CA earns more in India in comparison to CMA, who earn better in the United States. The starting CA salary ranges from 6-7 lakhs INR per annum but CMA professionals only earn between 4-5 lakhs INR.
CA vs CMA which is tough?
CA is considered tough due to its rigorous curriculum and time taken o complete in comparison to 2 parts in CMA, which will almost take a year or a year and a half to complete.
How many years is the CMA course?
The CMA course duration is just one year. Some students may take a year and a half but it generally gets completed in a year.
