CMAs: Corporate India’s new target

ACMA-ICAI (DGM-Global Voice Business)   (1052 Points)

27 September 2007  
Extract from

Tuesday September 25 2007 13:51 IST
Express News Service

BHUBANESWAR: Being a cost accountant might have been a dream for many but today it has become the ultimate goal. As a matter of fact, in this globalised and competitive environment, corporate India is hunting for cost accountants like never before.

Cost and Management Accountants (CMAs) are no more associated with book keeping and auditing. Of late, the industry has realised on investing their expertise for effective and efficient use of financial tools in managing resources.

With increase in competition and consequent economic pressure, cost and management accountancy has been interwoven into the main fabric of management practice. Studies, no wonder then, estimate that corporate India is facing an acute shortfall of CMAs. The handful that are passing out annually are being lapped up in no time.

Orissa, which produces about 60-65 passouts every year, is also seeing a remarkable change in attitude among candidates towards the profession. They are a more serious lot, eager on clearing the papers in single appearances.

And it makes a lot of sense also. ‘‘Today a candidate becoming a CMA within 24 to 25 years stands to gain Rs 35,000-40,000 as against Rs 25,000 to Rs 30,000 earned by a one passing out at 30. The focus, therefore, is seemingly shifting to capitalise on the emerging opportunities,’’ said chairman of the Cuttack-Bhubaneswar chapter of Institute of Cost and Works Accountants of India Gagan Swain.

The CMA professional degree recognised internationally can be achieved at a very low cost but with sincerity and hard work.

Besides managerial positions in industries, they are excelling in fields like teaching, cost, excise and VAT auditing and management consultant and tax consultant. Of late, companies too have started holding campus recruitments for CMAs. Genpact, for instance, recruited 10 passouts from the Cuttack-Bhubaneswar chapter this season. More are on the cue.
One can also start earning after clearing the Inter and work while learn, a unique opportunity programme like ICWAI can only offer.