5 Essential Skills that Make a CMA Stand Out
CMA certification is considered the gold badge in the field of management accounting. It is considered by employers across the globe as a utility player for the broad accounting knowledge tested on the CMA exam. The CMA USA credential demonstrates a professional’s higher level of commitment to the accounting profession. It has the ultimate power to qualify professionals for top-level positions within the finance and accounting sector. CMA holders are usually the most sought-after ones in the employment market and employers across the globe are on the run to hire CMAs.
Attaining the CMA credential means that you have fulfilled the professional experience requirement established by IMA and also passed the CMA exam. Passing the CMA exam with a good score proves your extensive knowledge of management accounting and the skillset essential for working in the finance and accounting sector. It is the green card that signals employers about your readiness to take responsibility to manage the finance department of their organization. The CMA credential validates your credibility not only in management accounting but also in other facets of business including management, production, marketing, finance, sales, international operations etc.
As CMA as a qualification is growing in significance in the finance sector, aspiring professional looking forward to having a future-proof career is attracted to the benefits CMA certification can offer. Due to this, the number of students appearing for CMA exams has increased drastically. In order to make the CMA journey easy for these aspirants, there is a huge array of CMA courses in the market that are specially designed to help individuals ace the CMA exam on the first attempt. Trained by CMA-certified professionals, the CMA course is highly beneficial for individuals to build their knowledge and skillset which is crucial for attaining the CMA credential. The CMA course is the gateway to attaining the almighty CMA certification issued by the IMA.
There is no doubt that CMA holders are more employable internationally. With higher salaries and secured jobs, CMAs' career is future-proof. The CMA credential will help holders increase their chance of standing apart from the crowd when seeking jobs. It is obvious that CMAs’ value in the market is unmatched, but, what makes them this valuable? In this article, let us discover the skills that make CMAs stand out.
5 skills that make professionals with CMA certification stand out are:
1. Financial Analysis Skills
Performing useful analysis and providing unbiased data is crucial for making informed business decisions. CMAs when taking the role of cost accountants, financial managers etc are to have a strong acumen in analysing financial statements. CMAs possess strong financial analysis skills that help them forecast revenue, expenses and other business outcomes. A CMA's financial skills are unmatched and their ability to interpret financial reports makes them provide a great deal of value to any organization.
2. Cost Accounting Skills
Strong cost accounting skills are crucial for creating accurate budgets and providing real business forecasts. CMAs’ cost accounting skills help them determine cost standards for organizations which will reflect in creating budgets for business activities. They use these skills of their to accurately analyze production costs and further recommend changes to cost management to increase the overall efficiency of the business.
3. Management and Mentoring Skills
Due to the high standards of the CMA certification, CMA holders are often found in senior management roles. Being in such a position puts them responsible for managing and mentoring huge work teams. CMAs possess strong leadership skills that help them lead their team. Their management and mentoring skills allow them to give guidance to their subordinates to advance in their careers. By doing so, they will not only be a successful professional themselves but also a role model for many aspirants.
4. Communication Skills
While CMAs take charge of several technical tasks such as financial decision-making, presenting that information to the team in the clearest manner is crucial as well. CMAs who communicate well are likely to be trusted more by their peers in business. Most of the communication takes place in the form of written reports making CMAs build strong written communication skills. CMAs’ strong written and verbal communication skill makes them efficient in summarizing and conveying their financial findings in an understanding manner. Written and verbal communication
5. Strategic Thinking
CMAs are well-positioned to take up planning and analytical role due to their strategic thinking skills. The emphasis put on forward-thinking enables CMAs to foresee business performance. This is one of the main reasons CMAs are hired over non-CMA-certified professionals. CMAs use strategic thinking as a tool to deliver real value to their organization. Their ability to oversee the business with a holistic approach often puts them in high demand in the employment market.
Putting the above parameters into consideration, it is obvious that CMAs are not like any other professionals. The CMA certification is also one of its kind and is one of the most coveted qualifications in the finance industry. As we discussed the skills that make CMAs stand out from the rest, the reason for their unmatched value in the employment market is justified. Numerous hard and soft skills are essential for accountants, especially at the CMA level, which when developed properly can help them reach greater heights. By enrolling in a good CMA course you can start laying the groundwork for a fruitful career in CMA.
Message from the Author
If you are looking to set the foundation for a successful CMA career, then Learners Point Academy’s CMA course offers the best learning resources to prepare you for the CMA exam.
To learn more, visit https://learnerspoint.org/ give a call at +971 (04) 403 8000, or simply drop a message on WhatsApp.
Learners Point Academy is a KHDA and ISO 9001:2015 accredited training institute in Dubai.
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