The Institute of Cost Accountants of India (formerly ICWAI) has a Memorandum of Understanding (MoU) with the IMA. The MoU enables mutual recognition of the professional qualification of the respective Institutes - i.e., a member of ICWAI can get enrolled as a member of IMA and vice versa.
Careers in accounting & finance with the CMA qualification will certainly prove to be extremely rewarding in terms of increased credibility, opportunities and pay. With increasing globalization, FDIs, outsourcing, off-shoring, US financial service MNCs in India and Indian companies listed in the US, CMAs with an international perspective are in very high demand.
Career opportunities for CMAs include but are not limited to:
Opportunities for CMAs are boundless as they often expand their careers beyond the traditional management accounting realm to provide related services for many different types of organizations.
CMAs are required in all areas of the business world:
CMAs may decide to pursue the CPA designation to add to their knowledge and credibility for financial accounting & reporting, auditing & attestation and taxation.
CMA even opens doors to a global MBA. For Indian students intending to pursue their MBA (especially in finance) from the US, the CMA designation is certainly a very big plus.
The CMA designation is very widely recognized and respected by all US universities. And a CMA from India would significantly add both value and diversity to their batch.