Pro Tip on Sectors That Are Ready To Absorb US CMAs
Pro Tip
on Sectors That Are Ready To Absorb US CMAs
As on date, there are about 40,000 active CMAs
and currently about 80,000 in the pipeline.
In order to obtain the CMA certification,
candidates need to possess a basic educational qualification, pass two levels
of examinations with or without CMA USA training, obtain experience certificate
and also have to follow a regimen of continuous education plan.
What
can you do as a CMA (US)?
The following roles are available for CMA (US)
professional:
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Finance Manager
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Costing Manager
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Chief Finance Officer
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Relationship Manager
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Management Accountant
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Financial Director
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Financial Analyst
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Cost Manager
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Financial Controller
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Cost Accountant
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The US CMA is accepted in all countries – Sudan,
Dubai, Riyadh, Nepal, all Europe countries etc. Thus, this will open up
opportunities for CMA USA candidates to secure jobs in MNCs and Fortune 500
companies from any foreign country that are setting up shop in India or already
present in India. Currently there are around 40,000 MNCs and about 250,000
overseas affiliates in India.
Incidentally, the top 300 MNC of the world
control over 25% of the world output. This fact reflects the significance and
impact of MNCs and in turn it emphasizes the fact that these companies have to
be professionally manned by CMAs and other similar personnel.
Potential
Sectors for US CMAs
The following sectors may be targeted from a career
perspective:
Manufacturing
–
Japanese companies like Toyota are planning to
invest about 350 million USD in India in the next year to develop a small car.
Bosch is planning Rs.1700Cr. investment in the
next three years for a Tech Hub.
Apple supplier Foxconn is planning to invest USD
1 billon in southern India for expansion.
Tesla, as per news reports, is planning a
manufacturing facility in Karnataka, after setting up a R&D Centre.
These are some specific examples where CMAs can
play a significant role. CMA USA professionals are a crucial asset for
companies particularly at this stage. They drive such strategic decisions for
these corporate giants.
Insurance
With the announcement in the Current Budget the
Insurance Sector will be open to FDIs up to 76 % from the existing 49%.
As per the Economic Survey Report, in India the
overall Insurance coverage is only 3.76% which is extremely low and hence there
is a lot of business to be done, making it a potential job market for CMA USA
professionals.
Consulting/Advisory
Due to the global acceptability, CMAs can play a
crucial role in Big 4 and other consulting firms and offer advisory services.
Overseas
Opportunities
As CMAs have a global recognition, the overeas
job market may be explored and may be lucrative that is -US/Europe/South East
Asia/ Dubai/ Saudi Arabia/ Africa.
“An investment in knowledge pays the best
interest”-said Benjamin Franklin and how very true these simple words are even
today.
Author
G.SRIKUMAR,FCA. INDEPENDENT DIRECTOR
Currently having a Sole Proprietorship Firm styled as G.SRIKUMAR & Co.
Currently with JRS & Co, Chartered Accountants, as Director (formerly
Partner for 10 years) in charge of the Bangalore Branch. The Firm has 5 offices
(Bangalore/Kochi/Kollam/Trivandrum/Dubai). The Firm offers services of
Accounting/Auditing/CFO Services and Taxation Advisory Services.
Holds Independent Director Role with TJL Ltd for last two years.
Holds Governing Council role in an E Education LLP