
14th January, 2025
CMA- Cost Management Accounting
Is CMA easier than CA?
Table of Contents
Well, it’s a matter of perception, but choosing the right professional path is necessary for every student because it impacts their future. Due to the increase in demand and better career options, it makes it harder for students to select the appropriate one.
In this blog you will get all the information about both the courses, including scope, career options, and so on, which will help you to analyze which course is easier.
What is CA?
Chartered Accountants (CA) are regulated by the Institute of Chartered Accountants of India (ICAI). In the Chartered Accountancy course, students get information related to Taxation, Auditing, Financial Management, and Accounting.
The course is divided into 3 levels, which are CA Foundation, CA Inter, and CA Foundation. To become a Chartered Accountant, students need to pass the three levels along with articleship training.
Steps to become CA
- CA Foundation level is the first step.
- CA Inter level is a second step. Students can get either direct entry or through a foundation exam.
- Complete the required training
- Appear for the CA Final exam.
What is CMA?
Cost and Management Accountants (CMA) also work in the financial sector, and they control all financial decisions and budgeting in businesses. Also, they are responsible for cost management, budgeting, and financial analysis.
Steps to Become CMA
- Register yourself for the CMA foundation course and clear the exam.
- After that, register for the CMA Inter course and clear the exam.
- Complete the required practical training
- Appear for the final exam and clear the examination.
- Become a member of ICMAI.
Difference between CA and CMA
Particulars |
CMA |
CA |
Main focus |
This course mainly focuses on accounting and cost management |
Finance, auditing, and taxation |
Conducted Body |
The Institute of Cost and Management Accountants of India (ICMAI) |
The Institute of Chartered Accountants of India (ICAI) |
Duration |
The duration to become CMA is 3 years |
The duration to become CA is 4-5 years |
Course structure |
CMA Course has three levels CMA Foundation, CMA Intermediate and CMA Final |
CA Course has three levels: CA Foundation, CA Intermediate, and CA Final |
Fees |
1 lakh |
2-3.5 lakhs |
Scope/demand |
High demand in big firms, MNCs, public sector |
High demand in manufacturing, and financial services |
Which is Better?-CMA VS CA
As we all know that both the courses offer great career opportunities and advancement. But by providing all the details of both the courses, will give you an idea about which course is better.
In terms of training requirements:
In CA course it is mandatory for every student to undergo articleship training for 3 years after completing the CA Inter exam and before appearing for the CA Final exam.
While in CMA, students must spend 15 months in articleship training. Another major difference is that CMA considers past year work experience for exemption from articleship if it satisfies the criteria specified by ICMAI.
In terms of scope and demand:
Chartered Accountants are always in demand and well-regarded profession. CAs are important in every business, whether it is small or big, particularly startups to multinational corporations.
While, due to CMA global recognition and lucrative accounting and financial employment opportunities, the CMA degree is in great demand. In addition to this, students who seek careers in manufacturing, financial services and the public sector can take this course.
In terms of Salary:
The average salary for a CMA fresher in India is 5-7 lakhs per annum, and for higher positions like CFO (Chief Financial Officer) can get a salary of up to 40 lakhs per annum.
The average salary for Chartered Accountants freshers is 7 lakhs per annum and can go up to 25 lakhs.
In terms of career prospects:
CAs has a wide range of career options due to their comprehensive skillset. They can either work in public practice, corporate finance, consulting, investment banking and even start their own business.
CMAs are cost management specialist, and they have various work opportunities in different fields like production, consulting, manufacturing, and service sectors. They have different roles like cost accountant, internal auditor, financial analyst, management accountant, and cost controller.
Which one is easier? - CMA vs CA
If we look at the syllabus, then CA has a vast syllabus than CMA. Also, the CA syllabus is difficult, whereas the CMA syllabus is easy to comprehend. To become a CA, it will take you almost 5 years, while the duration of the CMA course is almost 3-4 years. If we consider all the above reasons, then CMA looks easier than CA. However, it is your decision, and makes your decision wisely by keeping your interests and abilities in your mind.
Can I Pursue both CMA and CA?
Yes, you can pursue both the CA and CMA together. Many students choose to do this to increase their knowledge and career prospects in accounting and finance. The syllabus of both the courses aligns with each other but not the same. If you decided to pursue both courses then you can either prepare one by one course, for example, CMA after CA, and vice versa, or you can prepare both the courses simultaneously and save time.
Conclusion:
The difficulty level of both the courses can depend on one’s learning styles, strengths, and weaknesses. Both the courses require a high level of commitment, hard work, and dedication. To make the right decision depends on your career goals and interests.
Bhagya Achievers helps students in all possible ways, from choosing courses to achieving goals. Bhagya Achievers have mentorship plans which help students by giving assistance and advice on how to clear exams. So start your preparation with Bhagya achievers and achieve your goals.
Also check:
- Is CMA still in demand?
- Can i crack CMA by self-study?
- How many attempts allowed for CA?
- How to clear CA in first attempt?