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The Certified Management Accountant (CMA) is a prestigious certification awarded by the Institute of Management Accountants (IMA) to F&A professionals who seek to advance their career in management accounting. The certification denotes expertise in financial accounting and strategic management. As MNCs set up and expand their operations in India, the need for CMAs is rising. Also, due to attractive salary packages and prestigious work profile, more and more candidates are opting for CMA certification. CMAs have applications in various functions of an organisation like decision support, planning and control. CPA Certified Public Accountant is a professional qualification recognised internationally (analogous to Chartered Accountancy in India). The benefits of any professional qualification are innumerable. Starting from a well paying job to a profound understanding of the accounting, taxation and business laws of the US. FAR - Financial Accounting dwells into the depths of US GAAP and IFRS which helps you gather knowledge of both and have a career showcasing their knowledge. REG - Regulation teaches the taxation and business laws of the US. AUD - Auditing enumerates the auditing standards and can help you seek a career in auditing. BEC - Business is a collection of various topics such a economics, costing, financial modeling, IT and so on. To start with, a professional qualification such as CPA broadens your horizon and let's you explore career opportunities in the field of accounting, auditing or taxation. More so, it is a ticket to reach the MNCs. CPA's are valued across the globe and thus a CPA has an opportunity to have a career in an part of the globe (based upon efficiency and mettle of the individual)
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Hi Arun,
Basically, you have to appear for an admission test called CLAT(Common Law Admission Test), which takes place in first week of May every year. It is a test which tests you on varied parameters, which are English, Verbal and non-verbal reasoning, basic quantitative aptitude, general knowledge and general awareness, and lastly legal aptitude. Various National Law Universities are allotted to you on merit obtained in CLAT. Presently there are about 18-20 NLUs with a total of more or less 2000 seats approximately. Specifically, NALSAR has about 120 seats and a portion is reserved out of it on different criterions such as SC, ST, State domicile etc. For any further details visit http://clat.ac.in/ or https://nalsar.ac.in/. Hope this answers your question!