Cma

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Querist : Anonymous

Querist : Anonymous (Querist)

19 March 2012 What is CMA?

Ajay Mishra

Ajay Mishra (Expert)
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19 March 2012 Hi

A certified management accountant (CMA) is different than a certified public accountant (CPA). In general, the certified management accountant works specifically with a company to advise them on financial matters that affect the overall management of the company. The CMA may advise a company on corporate spending, budgeting, financial planning, and issues related to taxation compliance.

The certified management account is unlike the CPA because he or she seldom works with the public. Instead, the certified management accountant is usually employed directly by a company in the capacity of in-house counsel on all financial affairs. The CMA may work with company employees to help them make good choices regarding investments or help them discover tax breaks and loopholes, but their primary job is to oversee the financial issues that affect the overall corporate structure.

CMAs have specialized training and certification processes. Training usually involves study in economics, financial analysis, performance measurement, budgeting, financial planning, business ethics, and corporate taxation. Certification involves a three to four-part test that is conducted over several days. The test itself tests for proficiency CMA matters, as well as knowledge in CPA matters. Most people who specialize in certified management accounting claim that the certification tests are a little more difficult than CPA testing, though CPAs may disagree.

For more go to the following link that will help you:

https://www.wisegeek.com/what-is-a-cma-certified-management-accountant.htm

Querist : Anonymous

Querist : Anonymous (Querist)

20 March 2012 I wanted to know abot CMA data relating to project financing and enhancements which most of the banks ask for.

Ajay Mishra

Ajay Mishra (Expert)
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20 March 2012 Hi

CMA means Credit Monitoring Arrangements. This full form of CMA is as given by Reserve Bank of India. For arranging
working capital finance information about income, expenses, assets & liabilities is required to be given in a specific
format to the bank by applicant. This specific format is referred to as CMA Report / CMA Data. Audited P & L A/c &
Balance Sheet of at least last 1 year, estimates of current year & projections of next at least 2 years are provided to
bank by the applicant along with Funds Flow Statement, Ratio Analysis, Comparative Statement of Current Assets &
Current Liabilites & Statement of Maximum Permissible Bank Finance. Number of years for which data is required may
vary from bank to bank. Even after getting the finance such data is required to be submitted to the bank periodically.

Regards

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