Certified Management Accountant (CMA) is a globally recognized certification for accounting professionals that opens a wide range of career options. Several aspiring CMA candidates set their goal to earn this specific certification due to its bright scope of career prospects. In addition, CMA also increases financial growth and gives a competitive edge in the job market.
Certified Management accountants are skilled professionals who possess business and financial acumen that non-certified accountants lack. Their skills and expertise make them stand out and well suited for top management positions in prestigious organizations. Moreover, their managerial knowledge helps them deliver better results while managing and supervising teams and projects. For a large organization that runs multiple projects simultaneously, you can prove a better resource being a CMA. You can act as a financial advisor or an executive-level decision-maker who helps organizations make sound investments and well-informed decisions.
CMA is one of the most valuable certifications you can earn in management accounting. Earning a CMA title gives you recognition as an accounting and financial management expert. However, it’s not an easy job to get a CMA credential, and you have to invest time and effort to achieve this prestigious certification. With the help of Wiley CMA review, you can successfully pass the CMA exams. It provides unlimited study and resource material to prepare for CMA exams.
Let us look at the 13 career opportunities that you can land with a CMA.
Budget Analyst
Budget analysts supervise all the expenditures of an organization or business according to the allocated funds and plan. While preparing proposals and reports, they maintain records and analyze financial data. Moreover, they also assess the cost-effectiveness of the programs to determine if extra funds are required.
C-Suite Executive
If you are interested in reaching high executive level ranks, you can serve at one of the top positions after obtaining your CMA certification. C-level executive positions such as Chief Financial Officer (CFO), Chief Executive Officer (CEO), Chief Information Officer (CIO), and Chief Operations Officer (COO) are leadership and supervisory roles. In addition, due to increased awareness of corporate social responsibility, another executive-level position, Chief Sustainability Officer (CSO), has also become part of the C-Suite Executive.
Corporate Controller
After getting a CMA certification, you can work as a corporate controller responsible for planning and directing all accounting functions in an organization. The primary duties of a corporate controller are to:
- Ensure financial statements are accurate
- Assist in the decision-making process while providing reports
- Oversee regulation and tax compliance issues
- Deal with the external auditors for the company
With CMA credentials, you can get hands-on experience in budgeting and financial statements.
Risk Manager
As a risk manager, you can play a vital role in an organization by analyzing and controlling the financial risks before they become liabilities. You must have strong analytical and communication skills to monitor risk-related issues closely and provide solutions. A risk manager is responsible for analyzing the impact of decisions on business in terms of finances, assessing the potential risks, and developing risk management systems accordingly. In addition, you need to look into legal requirements to address related risks.
Financial Manager
The financial manager supervises an organization’s finances and extends support in setting and achieving long-term financial goals. The primary responsibilities of a financial manager include assessing market trends and financial statements and giving consent to investments.
Internal Auditor
An internal auditor is responsible for providing organizations with consultation regarding internal controls, financial accuracy, and regulatory compliance. As a result, you can analyze and improve financial and risk management operations and practices within an organization.
Financial Analyst
You can become a financial analyst to provide investment-related consultations with a CMA.
Your clients may include individuals or small businesses, or large organizations. The primary duty of a financial analyst is to assist clients in making sound decisions regarding investments after preparing financial reports based on financial data, business trends, and other key factors.
Senior Accountant
Being CMA qualified, you can work in businesses or organizations as a chief accountant or senior accountant. The primary responsibilities of a senior accountant are to ensure financial and account record compliance by necessary standards, assess financial records, and verify transactions.
Treasurer
The Treasurer acts as a financial watchdog over a company that safeguards funds. The primary duties include overseeing all fundraising and transactional activities in and out of an organization committee, planning a budget, record keeping, and financial reporting.
Cost Accountant
As a cost accountant, you are responsible for controlling and assessing the expenditures and purchases inside an organization. In addition, your duties include recording data and providing recommendations of cost-effective and budget-friendly costing options.
Forensic Accountant
Being a Forensic Accountant, you have the chance to work in national special forces as a special agent accountant or forensic accountant. A career in a federal agency after CMA is comparatively more accessible as it exempts you from passing the entrance exam. If you like investigations and thrill, a career as a forensic accountant in the FBI could be your calling. Your workload may look like investigating white-collar crimes, including money laundering, counterfeiting, embezzlement, and tax fraud.
Fraud Examiner
Certified fraud examination is a subgroup of forensic accounting. The primary duty of a fraud examiner is to gather evidence on whether fraud was committed or not. In addition, you have to get expertise in CPA skills to know why fraudulent practice occurs and how to sort out allegations.
This field is rapidly expanding like forensic accounting. Due to the sharp rise in e-commerce and online transactions, white-collar crimes have increased, and many public and private firms are looking to hire fraud examiners for their financial teams.
Accounting Consultant
Accounting consultants are skilled professionals who need to dig deeper into a range of accounting operations, such as preparing financial statements, financial data management, and financial compliance. After getting a CMA, you can work as an accounting consultant, as it prepares you to develop liaisons with clients and regulatory authorities. As an accounting consultant, you can work with small and corporate level businesses. Furthermore, consultants can also work independently for public firms or consulting agencies.
Conclusion
After obtaining a CMA, you can also start your own business and handle your accounts and other finance-related operations on your own. Therefore, it is essential to understand the ins and outs of management accounting and the opportunities that may come your way to make a decision. Thorough research should provide you with a pool of options to choose from; choose wisely and give it everything you’ve got.
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