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cma data

Gaurav Ghai (58 Points)

26 August 2018

what is CMA DATA in accounting? why it is required for a bank over draft sanction??

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Rohit Tibrewal (Student & Senior Accountant) (3193 Points)
Replied 09 September 2018

For Bank- CMA-Credit Monitoring Arrangement. CMA Data is used by banks to work out eligiblity for bank finance. Bank verify and observe it while sanctioning loan to the borrower.

For Professional Institute Member- CMA denotes Cost and Management Accountant.

Vinod Babu (24191 Points)
Replied 09 September 2018

Full form of CMA data is Credit Monitoring Arrangement data. It is the report to be presented to bank to show your past financial history, current financial position and future financial planning.It covers 7 statements related to finance.