Both ACCA and CMA have certain practicability in China, but their respective fields and application scenarios are different, and they have their own unique advantages and characteristics. Let's introduce to you, which is more practical in China, ACCA or CMA?
The degree of recognition of the ACCA certificate in the country
First of all, ACCA was promoted earlier in China than CMA, so the market recognition is relatively high. It covers a wide range of businesses, including not only financial accounting and auditing, but also management accounting. The advantage of ACC is that it comprehensively covers all areas of financial accounting and emphasizes the cultivation of learning ability.
ACCA's wide coverage makes it popular with both foreign and international companies in China. Many partners of the Big Four accounting firms and financial executives of large domestic corporations hold ACCA certificates, making ACCA a highly regarded professional mark.
CMA certificate is recognized in China
However, the practical value of CMA in China cannot be ignored. CMA focuses on the field of management accounting, focusing on the cultivation and development of management accounting talents, and supporting strategic decision-making within enterprises. CMA certificate holders typically hold key positions within the organization, such as financial analysis, budgeting, and control.
For those who wish to pursue a career in business management, the CMA certificate is an extremely valuable qualification. The Chief Financial Officer (CFO) of many U.S.-owned companies has CMA qualifications, which shows that CMA is widely recognized among corporate management in China. With the increasing importance of management accounting, CMA certificate is gradually recognized and favored by enterprises.
Which is better, ACCA or CMA?
If you are looking to pursue a career in financial accounting and auditing, or if your career plan involves cross-border financial management, then ACCA may be a better choice. Conversely, if you are more inclined to manage the work in-house, especially in a multinational business, CMA may offer more opportunities and advantages.