I am aspiring to prepare for US CMA exam. A bit confused in terms of the MOU with ICWA. In case I write exam in India, I will get only the membership but not the qualification certificate of ICWA..And if I visit some other country other than India just for the purpose of writing exam, I will get Qualification certificate and will be termed as qualififed ICWA just like regular ICWAI Students ?
We are expecting roll out of GST (if every thing goes well) from April,1,2016. As we know all the indirect taxes including excise, service tax and vat etc barring few taxes shall subsumed in the GST . So will the current indirect tax paper in CA final will remain same or change from 2016. If there is any cue of this please let us know.
Think the reverse side also. If any Indian Cost Accountants want to settle in USA then CMA is useful. because to get ajob at USA in Accounts or Costing field, one has to passed CPA or CMA(USA) or CISA. so, this side it is beneficial to hold US CMA degree.
I am not agree that practicing scope for Cost Accountants is limited. now a days, demand is more for Cost Accountants because Cost Audit and Compliance certificate compulsory.
CMA USA can not practice in India. we need more practicing Cost Accountants. at present only 3000 practicing Cost Accountants against 50000 companys for Cost Audit or Compliance certificate.
But in some circumstances a US cMA is better..for eg mid aged guy with few yrs of exp and responsibilities CANNOT work for less under a cA or CMA ..also if some one is ALREADY masters in finance or mcom etc..this route is better...unless ICMAI changes their requirements they keep losing out...since expectations are impractical...many things one doesnt really require..usually 2 or 3 types of areas are used..NOT all..so its good to concentrate on core corporate role..a skill that US cMA provides