Career opportunities available for a Cost and Management Accountant

The profession of Cost and Management Accountant (CMA) is one of the highest accounting professions in India. With the fast pace of economic growth in India, the opportunities are also growing for finance professionals like CMAs at a very fast pace.

With the growing economy, there is an immense growth in the manufacturing sector as well. The cost and management accountant profession does not only relate to cost but also to the general efficiency, effectiveness, and productivity of the organization. Hence the CMA professionals are required in every company, industry, and firm for their cost and management expertise to run the operations in a cost-effective manner.

CMA profession is governed by Institute of Cost and Management Accountants also known as ICMA. This profession is in great demand and one of the most rewarding career options in India.

The scope of CMA profession is continuously growing due to the increasing awareness about the need for cost and management accounting in the corporate world and the growing demand for CMA professionals. Hence, a lot of students have started considering this profession as a career option since this option provides a lucrative and excellent career growth path in the finance and commerce field.

CMA has so many roles to play in the different industries be it finance, taxation, costing even in auditing too. Cost and Management Accountants can have their own practice just like Chartered Accountants or Company Secretaries.

The below are some of the widely known CMA career options and roles that they perform:-

● Finance Manager 

● Internal Auditor

● Budget Analyst

● Financial Analyst

● Corporate or division planner

● Senior Accountant

● Cost Accountant

● Staff Accountant

The CMA course is specifically designed to equip the students for cost accounting and financial management skills. So, the roles in CMA may require you to oversee and prepare the financial statements, actively assess internal control, analyze and prepare monthly financial information and create and analyze the company budgets.

Lastly, the governing body of CMA profession, the ICMA, has tie-ups with international bodies as well. This ensures that CMAs also has a scope of opportunities available to them not just at a national level but across the globe as well!

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