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Financial accounting is the field of accountancy concerned with the preparation of financial statements for decision makers, such as stockholders, suppliers, banks, employees, government agencies, owners, and other stakeholders. The fundamental need for financial accounting is to reduce principal-agent problem by measuring and monitoring agents' performance and reporting the results to interested users.

About CMA
The title Certified Management Accountant is a professional designation awarded by various professional bodies around the world. The CMA designation is a post-nominal award issued to individuals who have achieved a peer-based criteria of professional competency in the field of Management Accounting.

As many as 85% of accountants today work inside organizations, where expertise in decision support, planning, and control over value-adding operations are crucial elements of operational success. In earning the CMA, you will have mastered a comprehensive body of knowledge directly related to operational and strategic management as well as the skills and abilities required to build quality business practices inside organizations.

Financial Accounting certifications:

Certified Management Accountant (CMA)

Global Career Opportunities
IMA's CMA certification is a global certification. As a respected leader within the global financial community, the IMA influences the concepts and ethical practices in management accounting and financial management worldwide. The CMA certification offered by the IMA are standards of quality and expertise. The certified financial professional possesses knowledge, skills, and abilities required globally by the contemporary financial profession.

To get the job you want, you will need to show that you can make a difference to your prospective employer. Having a CMA designation shows not only a high level of competence in corporate finance and management accounting, but also a strong commitment to continuous improvement and high ethical standards. Many leading international companies consider the CMA designation as the ultimate mark of excellence.

Financial Benefits
It is definitely a big decision to start the professional certification process, but quite rewarding. First, having the CMA designation leads to much faster career advancement. In addition, research conducted by IMA indicates that the IMA certified members' average salary and average total compensation is considerably higher than for non-certified professionals.